CogState signs $2.6m contract for clinical trials technology
Thursday, 17 November, 2011
CogState, maker of a computerised cognition and brain function test, has signed with an international pharmaceutical company to use its technology in a phase II trial of major depressive disorder.
The deal is worth US$2.6 million which, today at least, is worth $2.6million in Australian dollars.
The company will provide its cognitive testing technology and associated services to 600 patients located in 100 sites around the world, and it will be provided in six languages.
This brings the total revenue from clinical trials sales contracts for CogState since 1 July 2011 to $7.2 million, with a further $9 million slated for future periods, assuming similar currency rates as today.
CogState (ASX:CGS) is trading level at 24.5c as of 2.30pm Thursday.
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