Cambridge Cognition's Monument partners up on schizophrenia treatment
Cambridge Cognition Holdings PLC on Tuesday said Monument Therapeutics, in which it holds a 20% stake, has partnered up on the development of a novel treatment for cognitive impairment associated with schizophrenia.
The Cambridge, England-based brain health software company said it has teamed up with the Foundation for the National Institutes of Health to evaluate MT1988 in a proof of principle clinical trial.
Schizophrenia is a mental health condition that causes hallucinations, delusions and cognitive impairments, with many patients showing early signs during a clinical high risk phase. It significantly hurts an individual’s functioning and quality of life, and currently lacks effective treatment options.
The trial will be conducted as part of the FNIH-managed Accelerating Medicines Partnership Schizophrenia programme, which is a public-private collaboration involving other major pharmaceutical companies and non-profit organisations with $44 million in investments committed to date.
The initiative aims to speed up the development of more effective treatments for schizophrenia and other related mental health conditions.
Cambridge Cognition said its digital cognitive assessment technologies supported the early development of MT1988 and were ‘instrumental’ in establishing Monument’s foundational biomarker strategy.
‘Monument’s continued progress into patient trials is a significant step in developing precision treatments for brain health. It highlights the value of Cambridge Cognition’s digital assessment technology in this field and reinforces our confidence in Monument’s strategy, which targets areas of high unmet clinical need and offers strong potential for long-term value through our equity and royalty interests,’ said joint Managing Director & Chief Operating Officer Rob Baker.
Cambridge Cognition’s stake in Monument is valued at £1.8 million, and retains future royalty rights in Monument following its spin-out in 2021.
Shares in Cambridge Cognition were up 7.0% at 26.75 pence in London on Tuesday morning. The stock remains down 38% over the past year, however.
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