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CogState Announces First Agreement with Lundbeck

23 / 08 / 2006

Key points:
- CogState technology to be used for the first time by H. Lundbeck A/S in a clinical trial
- H. Lundbeck A/S is a Danish pharmaceutical company specialising in Central Nervous System drug development

CogState Ltd (ASX:CGS) announced today that it has signed an agreement with H. Lundbeck A/S ("Lundbeck") for the use of its cognitive testing services in a clinical trial. The trial will be the first time that Lundbeck have used CogState technology.

Listed on the Copenhagen stock exchange, Lundbeck is a Danish pharmaceutical company specialising in the development of new drugs for the treatment of central nervous system (CNS) disorders such as depression, schizophrenia, Alzheimer's disease and Parkinson's disease. Lundbeck is the only fully integrated pharmaceutical company in the world focussing exclusively on treating CNS diseases.

Following today's announced agreement with Lundbeck, the total value of CogState's contracted future revenue exceeds A$2.3m. Contracted future revenues are revenue amounts to be recognised in coming periods, from signed agreements currently in place.

Mr Brad O'Connor, CEO of CogState, commented: "As part of our focus on aggressively growing our revenues, it is important to expand our customer base to include large pharmaceutical companies, such as Pfizer and GlaxoSmithKline, as well as smaller companies with a focus on central nervous system drugs, such as Lundbeck."