Cambridge Cognition has won its largest ever digital health contract.
The contract with a large pharma company is worth £1.3m over three years. The service is being used to measure day-to-day variability of cognitive measures in an autoimmune clinical trial. Real time data will be captured by a wearable device. This proves there are additional uses for the Cambridge Cognition digital health services.
Earlier this month, Cambridge Cognition raised £2.5m at 72p a share. This cash is being spent on building up a digital health team in Europe.
The group order book is worth £7m. finnCap had already forecast an increase in 2019 revenues from £6.1m to £8.2m and move to near-breakeven, and then into profit in 2020. The forecast has been maintained but it is more easily achievable after the contract win.
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