6 November 2024
Cambridge Cognition Holdings
plc
("Cambridge Cognition", the "Company" or the
"Group")
Cambridge Cognition spin-out,
Monument Therapeutics, receives £1.0 million for schizophrenia
clinical development
Cambridge Cognition Holdings plc
(AIM: COG), the brain
health software group, is pleased
to announce that its spin-out company,
Monument Therapeutics Limited ("Monument"), has secured an
investment of £1.0 million from the Forster Foundation at a post
investment valuation of £8.35 million.
Since becoming an independent
business in 2021, Monument has focused on a unique drug development
strategy, leveraging Cambridge Cognition's digital cognitive
assessments to match patients with new pharmaceutical
treatments. This latest investment builds on the funding
announced on 23 April 2024 and will help support the clinical
development of MT1988, a novel treatment for the cognitive symptoms
of schizophrenia.
If successful in clinical
development Monument's MT1988 is anticipated to be complementary to
existing drugs for schizophrenia; including those recently approved
by regulatory authorities.
Cambridge Cognition holds a 22.1%
shareholding in Monument following this financing and intends to
review the valuation of its shareholding and anticipates a
significant increase on a mark-to-market basis.
Dr
Steven Powell, Chair of Cambridge Cognition,
commented:
"We congratulate the Monument team on their progress since
establishing the business in 2021. The advancement of their
pipeline demonstrates the value of Cambridge Cognition's technology
and the innovative ways to leverage its intellectual property
within drug development."
Enquiries:
|
Cambridge Cognition Holdings
plc
Dr Steven Powell,
Chairman
|
Tel: 012 2381
0700
press@camcog.com
|
|
Panmure Liberum Limited (NOMAD and
Joint Broker)
Will Goode / Freddy Crossley / Mark
Rogers
Rupert Dearden
|
Tel: 020 7886
2968
(Corporate
Finance)
(Corporate
Broking)
|
|
Dowgate Capital Limited (Joint
Broker)
David Poutney / James
Serjeant
|
Tel: 020 3903
7715
|
|
Hudson Sandler (Financial PR and
IR)
Dan de Belder / Hattie
Dreyfus / Harry Griffiths
|
Tel: 020 7796
4133
cog@hudsonsandler.com
|
|
|
Notes to Editors
About Cambridge Cognition
Cambridge Cognition is a leading
technology company specializing in digital health products that
advance brain health research and treatment.
The company offers three core
products: CANTAB® assessments-providing scientifically validated,
highly sensitive, precise, and objective measures of cognitive
function correlated to neural networks; a flexible and proven eCOA
platform with an extensive library of instruments, enabling
efficient study setup and scalable data capture; and quality
assurance tools that ensure data integrity by automatically
detecting deviations in administration and scoring, saving time and
money. These products collectively improve clinical trial outcomes,
enable early patient identification, and enhance global efficiency
in healthcare and pharmaceuticals.
For further information,
visit:
www.cambridgecognition.com
About Monument Therapeutics
Monument Therapeutics is bringing
stratified medicine to CNS drug development. The company uses
proprietary digital biomarkers to reduce heterogeneity and identify
patients with homogenous underlying neurobiology, which are then
matched with appropriately targeted compounds. Monument
Therapeutics has a pipeline of promising drug development
programmes, with the most advanced two being for cognitive
impairment in schizophrenia and neuroinflammation. For further
information visit www.monumenttx.com
