Posts Tagged ‘CGS’

ASX Company News: Cogstate Secures Another New Contract

Wednesday, November 23rd, 2011

CogState Ltd (CGS) announced that it has signed a contract with an international pharmaceutical company to participate in another phase 2b clinical trial for the treatment of Major Depressive Disorder. Under the contract, which will generate US$0.9 million of revenue for CogState over the study duration, CogState will provide its cognitive testing technology and associated services to 280 patients located in 55 sites around the world. The CogState computerized cognition testing software, and associated on-line site training materials, will be provided in 5 languages. In almost five months since 1 July 2011, CogState has signed sales contracts to the value of US$8.2 million, including the above mentioned contract. To give relevance for the large value of contracts signed since 1 July 2011, it is noted that CogState signed US$9.3 million of clinical trial contracts in the full year to 30 June 2011 – at the time, this result was CogState’s best ever result, in respect of the value of contracts signed.

CogState currently has A$9.9 million of contracted revenue that will be recognised in future periods, of which A$5.5 million is expected to be recognised in the 2012 financial year – this is

in addition to the A$3.2 million revenue recorded during the period 1 July – 31 October 2011. CogState Ltd (CGS) specialises in the development and commercialisation of rapid, computerised

tests of cognition (brain function). To date, CogState has commercialised its technology in two markets – clinical drug trials and concussion management in sport. In the clinical drug trial market, CogState technology and associated services are used by pharmaceutical and biotechnology companies to quantify the effect of drugs or other interventions on human subjects participating in clinical trials.

www.cogstate.com

http://www.traderdealer.com.au/fundamentals/cgs

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ASX Company News: CogState To Acquire Remaining Stake In Axon Sports

Tuesday, August 23rd, 2011

CogState (CGS) announced that it will acquire the remaining 50% stake in Axon Sports LLC resulting in Axon Sports becoming a 100% owned subsidiary. Axon Sports provides online cognitive assessment to assist in evaluating and managing sports- related concussions. For CogState, the management of concussion in sport is a fast growing market, providing enormous opportunity for growth of revenue and profitability in the short term. The 100% control of Axon Sports will allow CogState to utilise the Axon Sports online testing and associated materials to pursue the sports concussion markets outside North America. Importantly, 100% control of Axon Sports means that CogState is in a position to take full advantage of current opportunities being discussed with large pharmaceutical companies with the aim of making CogState technology available to clinicians as a low cost, non-invasive, screening tool that could be provided within a clinician‟s surgery, in numerous indications, including sports concussions. CogState will acquire the 50% stake for 7,461,831 CogState Ltd fully paid ordinary shares at a notional price of $0.17 per share.

CogState‟s partners in the formation of Axon Sports, Quixote Investment principals Rudy Chapa and Patricia Eiting, will remain heavily involved in the management of Axon Sports, retaining their current positions as Directors of Axon Sports LLC.

Axon Sports provides online cognitive assessment tools that aid the evaluation and management of sports-related concussions. CogState Ltd (CGS) specialises in the development and commercialisation of rapid, computerised tests of cognition (brain function). To date, CogState has commercialised its technology in two markets – clinical drug trials and concussion management in sport. In the clinical drug trial market, CogState technology and associated services are used by pharmaceutical and biotechnology companies to quantify the effect of drugs or other interventions on human subjects participating in clinical trials.

www.cogstate.com

http://www.traderdealer.com.au/Fundamentals/cgs

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ASX Company News: Cogstate To Market To US Sports Market

Thursday, August 26th, 2010

CogState Ltd (CGS) announced the official launch of its joint venture with Quixote Investment, Axon Sports, LLC, in the United States. Axon Sports will market and sell a cutting-edge Computerised Cognitive Assessment Tool (CCAT) to protect the athletic brain. CogState’s technology is the backbone of the CCAT and Axon Sports has an exclusive license to use and sell the technology initially in the sports market in North America only. CogState and Quixote Investment – a Portland Oregon-based investment group – each hold 50 percent of the issued capital of Axon Sports. CogState and Quixote have equally contributed to the working capital of Axon Sports, each investing US $0.5 million, with an option for further investment as required.

Axon Sports will be staffed and run independently from CogState. Axon Sports will market and sell the technology Online via the website (axonsports.com) – test credits can be purchased in any quantity; and Via distribution partners, such as Wells Fargo Insurance Services. Customers will range from parents buying test credits for each child in their family, schools buying test credits for school athletes, doctors and/or medical centres buying test credits for patients, sports teams and/or associations buying test credits for their athletes and athletes buying test credits for themselves. The size of the youth, high school and adult athlete market in the US is estimated to be greater than 60 million people.

Mr Brad O’Connor, Chief Executive Officer of CogState said: “We have spent the past six years building a profitable, cash flow positive business in the area of clinical trials. Axon Sports represents an accretive business opportunity outside of our core business. “The sports concussion market is potentially a larger market than the clinical trials market and by partnering with a team with such great experience in developing and marketing products for the sports market, we believe that Axon Sports provides CogState with a tremendous opportunity to access the revenue potential of the sports market.  “We believe that Axon Sports will be a very profitable business and will add significantly to CogState’s profitability,” Mr O’Connor added.

CogState Ltd (CGS) specialises in the development and commercialisation of rapid, computerised tests of cognition (brain function). CogState revenue stream has historically been primary generated from sales of the tests are sold to pharmaceutical, biotechnology, nutraceutical and functional food companies to quantify the effect of drugs or other interventions on human subjects participating in clinical trials. Since sales into the clinical trials market began in 2004, CogState has secured agreements with organisations including Pfizer, AstraZeneca, GlaxoSmithKline, Merck, Johnson & Johnson, Novartis, Lundbeck, Dainippon Sumitomo, Otsuka, Servier, along with a number of other organisations.

www.cogstate.com

http://www.traderdealer.com.au/Fundamentals/cgs

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CogState Announces US JV Agreement

Friday, June 11th, 2010

CogState Ltd (CGS) today announced it has partnered with a Portland Oregon based investment group to form Axon Sports, LLC. As part of the agreement, CogState will take a 50% stake in Axon Sports and will exclusively license its technology used to assess the cognitive condition of concussed athletes to Axon Sports for use in the North American market. It is anticipated that Axon Sports will launch a re-branded technology, based on CogState Sport, in August 2010 and will focus on the delivery of products to both protect and train athlete’s brains. Axon Sports will initially provide baseline and after-injury tests to young athletes across North America in ways that are easily accessible, convenient, affordable and understandable for all individuals.

Mr Brad O’Connor, Chief Executive Officer of CogState said: “We are very excited by this joint venture and the opportunities it will provide to health specialists and athletes in dealing with sports-related concussion injuries in North America.”

Concussion is a temporary disturbance to brain function that is caused by either a direct (e.g. a blow to the head) or indirect (e.g. whiplash) trauma to the brain. Symptoms can include headache, blurred vision, dizziness, nausea, as well problems with balance and fatigue. Additionally, someone suffering from a concussion may experience loss of memory, confusion and an inability to think clearly and process information. Only a small minority of cases will result in a loss of consciousness. The effects on an individual are usually temporary and with correct management an individual should recover fully. However, every individual and every concussion is different, therefore determining when an individual has recovered and guiding return to play (or return to study) decisions is challenging.

Premature return to play after a concussive injury has been widely reported to increase the risk of complications, such a prolonged symptoms, further injury or symptoms of depression and cumulative cognitive impairment. Health experts are now in agreement that athlete’s should not be allowed to return to play until they have recovered completely from their concussion.

CogState Ltd (CGS) specialises in the development and commercialisation of rapid, computerised tests of cognition. CogState revenue stream has historically been primary generated from sales of the tests are sold to pharmaceutical, biotechnology, nutraceutical and functional food companies to quantify the effect of drugs or other interventions on human subjects participating in clinical trials. Since sales into the clinical trials market began in 2004, CogState has secured agreements with organisations including Pfizer, AstraZeneca, GlaxoSmithKline, Merck, Johnson & Johnson, Novartis, Lundbeck, Dainippon Sumitomo, Otsuka, Servier, along with a number of other organisations. CogState Sport has been used by a small number of highly regarded institutions and sporting organisations around the world for almost 10 years. Current customers include, Notre Dame University, University of Michigan, English Rugby League, English Jockey Club, and a number of Australian Football League, Australian Rugby League and Australian Rugby Union clubs.

www.cogstate.com

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CogState Secures Another $1.8 million Contract

Tuesday, May 26th, 2009

Leading cognitive testing technology provider, CogState Ltd (CGS), today announced that is has signed a contract which is a phase 2 schizophrenia study, entailing 75 clinical trial sites in 24 languages, which will be worth in excess of $1.8 million over two years.

After taking into account the contracts signed over the last seven weeks, CogState’s contracted future revenue has increased to $5.4 million, 170% improvement compared to $2.0 million of contracted future revenue as at 31 May 2008. For the year ending 30 June 2009, CogState has maintained its profit guidance of Net Profit After Tax (NPAT) in the range of $1.5 – $1.75 million for the year. The average value of each contract signed has increased from $0.135 million in FY2008 to $0.309 million in FY2009 reflecting CogState’s increased use in larger clinical trials.  

Mr Brad O’Connor, Chief Executive of CogState said: “This is an outstanding result and reflective of the defensive nature of our industry. While we anticipated there was going to be a slight reduction in research and development spend for pharmaceutical companies, we continue to see new business opportunities in larger, later stage clinical trials, particularly in phase 2 clinical trials. Lead indications such as Schizophrenia and Alzheimer’s disease remain important to pharmaceutical companies and this is a key area of specialisation for us. ” 

CogState Ltd specializes in the development and commercialization of rapid, computerized tests of cognition (brain function). The tests are sold to pharmaceutical, biotechnology, nutraceutical and functional food companies to quantify the effect of drugs or other interventions on human subjects participating in clinical trials.

Since sales into the clinical trials market began in 2004, CogState has secured agreements with organizations including Pfizer, AstraZeneca, GlaxoSmithKline, Merck, Centres for Disease Control (USA), Lundbeck and Novartis.  CogState is currently expanding its existing activities in the US and European clinical trial markets. 

www.cogstate.com

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