News & Events
< Back to News Overview
CogState Tops $1 Million in Sales for 2004-05 (Up 420% on Previous Year) from Contracts with Companies Such as Pfizer & Roche
04 / 07 / 2005
Melbourne-based biotechnology company, CogState, exceeded $1 million in sales for the 2004-2005 year - reinforcing Steve Burrill's prediction at BIO 2005 that the testing of memory and cognition "will be the single largest market of tomorrow."
CogState's sales - an exceptional achievement in a tough financial market - have been achieved largely through sales to major pharmaceutical companies and research institutions.
CogState's patented technology for the testing of cognition (thinking) is increasingly being sought out for clinical trial programs by companies such as Pfizer, Organon, Roche Pharmaceuticals and the US Centers for Disease Control and Prevention.
After listing in February, 2004, CogState has been able to implement the first phase of its sales and distribution strategy focused on the provision of cognitive testing to clinical trials by major international pharmaceutical companies. The majority of sales (80%) have come from this area.
These 2004-2005 sales results represent a 420% increase on sales for the previous year.
In the past year CogState has received over $500,000 from contracts with Pfizer, Organon and Roche for the use of its technology in six Phase I an two Phase III trials. Dr Peter Bick, CEO of CogState, said he is confident that the company will increase the number of trials the company will participate in for 2005-2006.
In addition the company has provided the CogState technology to the Centers for Disease Control and Prevention for a US wide trial of cognition in people with HIV. CogState's other main source of revenue comes from concussion testing by sporting associations such as the AFL, RFL, Australian Rugby Union and the UK Rugby Football League.
CogState's continued growth in sales reflects the message from bio-entrepreneur, Steve Burrill at BIO 2005 in Philadelphia. He singled out memory as an emerging market opportunity, "it will be the single largest market of tomorrow."
CogState's sales - an exceptional achievement in a tough financial market - have been achieved largely through sales to major pharmaceutical companies and research institutions.
CogState's patented technology for the testing of cognition (thinking) is increasingly being sought out for clinical trial programs by companies such as Pfizer, Organon, Roche Pharmaceuticals and the US Centers for Disease Control and Prevention.
After listing in February, 2004, CogState has been able to implement the first phase of its sales and distribution strategy focused on the provision of cognitive testing to clinical trials by major international pharmaceutical companies. The majority of sales (80%) have come from this area.
These 2004-2005 sales results represent a 420% increase on sales for the previous year.
In the past year CogState has received over $500,000 from contracts with Pfizer, Organon and Roche for the use of its technology in six Phase I an two Phase III trials. Dr Peter Bick, CEO of CogState, said he is confident that the company will increase the number of trials the company will participate in for 2005-2006.
In addition the company has provided the CogState technology to the Centers for Disease Control and Prevention for a US wide trial of cognition in people with HIV. CogState's other main source of revenue comes from concussion testing by sporting associations such as the AFL, RFL, Australian Rugby Union and the UK Rugby Football League.
CogState's continued growth in sales reflects the message from bio-entrepreneur, Steve Burrill at BIO 2005 in Philadelphia. He singled out memory as an emerging market opportunity, "it will be the single largest market of tomorrow."