Cambridge Cognition (AIM: COG), which specialises in cognitive assessment technologies, is moving into the wearable technologies field.
It is teaming up with London-based design and research agency Ctrl Group to produce novel digital health applications for new markets, with prototype products expected in the second half of 2016.
Digital health products are being designed and developed enabling near-user cognitive testing via wearable and smart devices. More meaningful cognitive data will enable healthcare practitioners to detect mental health risk factors earlier, reduce the likelihood of relapse and, by tracking daily activity, help individuals to better understand and manage their cognitive health in a way that other products have for physical health.
For pharmaceutical companies, understanding the real world impact of interventions will support clinical trials of drug development candidates and marketed treatments for chronic diseases, Cambridge Cognition said.
Initially, the new range of products will be licensed to pharmaceutical and healthcare providers through relationships established by both Cambridge Cognition and Ctrl Group.
“The move to near-user cognitive measures on consumer electronics marks a significant step for Cambridge Cognition in realising the company's aim to become the world leader in cognitive healthcare technologies," said Dr Steven Powell, chief executive officer of Cambridge Cognition.
Ctrl Group co-founder Ben Fehnert said the company was delighted to be working with Cambridge Cognition, and that it saw a “huge advantage in being able to understand cognition in daily life through wearable and smart technologies”.
Cambridge Cognition's shares were up a halfpenny at 68p in afternoon trading.