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Cambridge Cognition

  • BY: Andrew Hore |
  • POSTED: 04/03/2013 |

Cambridge Cognition is planning to join Aim and raise £5m in the next few months.

The company develops cognition tests, known as CANTAB, that can be used to diagnose early-stage neurological diseases. The rights to the tests were acquired from former Aim company CeNeS Pharmaceuticals.

Cambridge Cognition already generates revenues from academic institutions and the R&D operation of pharmaceutical companies. The company wants to move into the primary and secondary care markets via an iPAD version of some of the tests called CANTABmobile. A trial has commenced for the earlier diagnosis of and intervention in Alzheimer’s disease. 

Revenues were £5.7m in 2012 and they are forecast to increase to £16.4m in 2014, which should be enough to make the company profitable and cash generative. This is purely based on the UK market but there is global potential.

The £5m that Cambridge Cognition is seeking will finance further development of the CANTABmobile product line, expand sales and marketing, make the final payment for the acquisition of the business and provide a small amount of working capital.

Broker finnCap has estimated a £15m valuation for the company before the £5m is raised.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf

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