MELBOURNE, AUSTRALIA – Cognitive science firm Cogstate (ASX:CGS) announced that it has signed a contract with a large international pharmaceutical company for the provision of scales management, rater training, centralised monitoring and associated services to support the use of paper based cognitive assessment in a large Alzheimer’s disease clinical trial.
Total contract value is USD3.2 million and that revenue will be recognised over the life of the study, which is expected to be two years, Cogstate said in a disclosure to the Australian Securities Exchange.
The latest deal brings Cogstate’s total value of Clinical Trials sales contracts this financial year to USD16.4 million, the company added.
“We are very pleased with the growth in sales contracts in our Clinical Trials business; not only does this help to validate our growing acceptance as scientific leaders, but it also shows that our expanded commercial business development team is positively impacting our immediate and future financial results,” said Cogstate CEO Brad O’Connor. – BusinessNewsAsia.com