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CogState Accelerates Portfolio Development with A$1.28m Pfizer Deal
15 / 12 / 2005
Key points:
Non-dilutive funding of up to A$1.28 million over 3 years
Acceleration of cognitive test portfolio development
Increased portfolio of specialist cognitive tests
Potential for increased near-term revenue in 2006
CogState Ltd (ASX:CGS) announced today the signing of agreements with Pfizer, Inc., for up to A$1,280,000 of funding to support targeted development activities over the next three years.
Specifically, the funding will be used for:
o the development of a set of novel paediatric neuropsychological computer tests;
o the development of a technology for modelling brain function using analysis of the acoustic properties of human speech;
o the on-going development of CogState's proprietary technology for the early detection of dementia due to Alzheimer's disease.
The paediatric cognitive tests will be designed specifically for the neuropsychological assessment of children in clinical trial settings. For any new medicine designed for use by children, across most therapeutic areas, it is important to ensure that new therapies will not interfere with a child's cognition and school performance.
The speech acoustic technology is currently used for the measurement of disease progression and treatment response in Parkinson's disease patients. It has the potential for further applications in other neurological disorders.
The paediatric cognitive tests, the speech acoustic technology and the improvements to existing CogState technology will expand CogState's portfolio of innovative solutions for clinical trials in the pharmaceutical industry.
CogState anticipates that the commercial roll-out of the new and improved cognitive tests will begin in the latter half of 2006. The cognitive test clinical trial market has an estimated worth of $75 million per annum.
The developmental work will be undertaken by CogState in Australia.
For further information, please contact CogState CEO, Brad O''Connor on 0411 888 347.
Non-dilutive funding of up to A$1.28 million over 3 years
Acceleration of cognitive test portfolio development
Increased portfolio of specialist cognitive tests
Potential for increased near-term revenue in 2006
CogState Ltd (ASX:CGS) announced today the signing of agreements with Pfizer, Inc., for up to A$1,280,000 of funding to support targeted development activities over the next three years.
Specifically, the funding will be used for:
o the development of a set of novel paediatric neuropsychological computer tests;
o the development of a technology for modelling brain function using analysis of the acoustic properties of human speech;
o the on-going development of CogState's proprietary technology for the early detection of dementia due to Alzheimer's disease.
The paediatric cognitive tests will be designed specifically for the neuropsychological assessment of children in clinical trial settings. For any new medicine designed for use by children, across most therapeutic areas, it is important to ensure that new therapies will not interfere with a child's cognition and school performance.
The speech acoustic technology is currently used for the measurement of disease progression and treatment response in Parkinson's disease patients. It has the potential for further applications in other neurological disorders.
The paediatric cognitive tests, the speech acoustic technology and the improvements to existing CogState technology will expand CogState's portfolio of innovative solutions for clinical trials in the pharmaceutical industry.
CogState anticipates that the commercial roll-out of the new and improved cognitive tests will begin in the latter half of 2006. The cognitive test clinical trial market has an estimated worth of $75 million per annum.
The developmental work will be undertaken by CogState in Australia.
For further information, please contact CogState CEO, Brad O''Connor on 0411 888 347.