6 November 2024
Cambridge Cognition Holdings plc
("Cambridge Cognition", the "Company" or the "Group")
Cambridge Cognition spin-out, Monument Therapeutics, receives £1.0 million for schizophrenia clinical development
Cambridge Cognition Holdings plc (AIM: COG), the brain health software group, is pleased to announce that its spin-out company, Monument Therapeutics Limited ("Monument"), has secured an investment of £1.0 million from the Forster Foundation at a post investment valuation of £8.35 million.
Since becoming an independent business in 2021, Monument has focused on a unique drug development strategy, leveraging Cambridge Cognition's digital cognitive assessments to match patients with new pharmaceutical treatments. This latest investment builds on the funding announced on 23 April 2024 and will help support the clinical development of MT1988, a novel treatment for the cognitive symptoms of schizophrenia.
If successful in clinical development Monument's MT1988 is anticipated to be complementary to existing drugs for schizophrenia; including those recently approved by regulatory authorities.
Cambridge Cognition holds a 22.1% shareholding in Monument following this financing and intends to review the valuation of its shareholding and anticipates a significant increase on a mark-to-market basis.
Dr Steven Powell, Chair of Cambridge Cognition, commented:
"We congratulate the Monument team on their progress since establishing the business in 2021. The advancement of their pipeline demonstrates the value of Cambridge Cognition's technology and the innovative ways to leverage its intellectual property within drug development."
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Notes to Editors
About Cambridge Cognition
Cambridge Cognition is a leading technology company specializing in digital health products that advance brain health research and treatment.
The company offers three core products: CANTAB® assessments-providing scientifically validated, highly sensitive, precise, and objective measures of cognitive function correlated to neural networks; a flexible and proven eCOA platform with an extensive library of instruments, enabling efficient study setup and scalable data capture; and quality assurance tools that ensure data integrity by automatically detecting deviations in administration and scoring, saving time and money. These products collectively improve clinical trial outcomes, enable early patient identification, and enhance global efficiency in healthcare and pharmaceuticals.
For further information, visit: www.cambridgecognition.com
About Monument Therapeutics
Monument Therapeutics is bringing stratified medicine to CNS drug development. The company uses proprietary digital biomarkers to reduce heterogeneity and identify patients with homogenous underlying neurobiology, which are then matched with appropriately targeted compounds. Monument Therapeutics has a pipeline of promising drug development programmes, with the most advanced two being for cognitive impairment in schizophrenia and neuroinflammation. For further information visit www.monumenttx.com
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