Cambridge Cognition Holdings PLC (AIM:COG) shares strengthened on Thursday as it announced a £1 million contract win with "a global pharmaceutical company", an existing customer, for a Phase 3 clinical trial in autoimmune disease.
The agreement, which will run from 2025 to 2031, will see the firm’s digital cognitive assessments used in the trial spanning 16 countries, in 23 languages, over 245 sites.
"We view this repeat business from an existing customer as a strong endorsement of our product value and service excellence,” chief operating officer Rob Baker said in a statement.
“The expanding research in autoimmune diseases is promising, positioning us to address this growing need and significantly expand our presence in the high-impact, late-stage CNS trials market.
It follows a separate £1.2 million contract, announced last week, for a Phase 3 clinical trials in adolescents with Major Depressive Disorder.
In London, Cambridge Cognition shares rose nearly 6% to change hands at 34.9p, which values the company at around £15 million.