Cambridge Cognition raises £2.6m growth funding

Dr Julie Simmonds of investment bank Panmure Gordon, is impressed. She says: “Its CANTAB technology remains the gold standard in digital cognition testing. More recent products move Cambridge Cognition into daily assessments and voice-based testing.

“Over the past 18 months Cambridge Cognition has been in a period of transition, consolidating the acquisitions of Winterlight and Clinpal, building a broader product suite, reorganising its commercial operations and introducing new cloud-based internal systems.

“The completion of these activities and the conclusion of major development projects has resulted in a lower cost base, strengthened market offering and a targeted commercial strategy.

“We believe the business is now well positioned to take advantage of easing headwinds in the pharma services market.

“An eCOA product suite and decentralised clinical trial app give full-service coverage where required. The company has a diverse customer base from large pharma to academic partnerships with its product offering covering an addressable market of $700m forecast to grow at 15 per cent CAGR 2024-2029.

“Well funded, with the transition period over, and a new commercial team in place with experience in long term pharma relationships we see the potential for an improved growth rate. In addition, ongoing discussions with potential strategic partners provide the potential for upside as the pharma service market improves.”