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CogState signs A$1.28 million deal with Pfizer to support development of cognitive tests
By E. Janene Geiss
Philadelphia, Dec. 15 - CogState said Thursday that it signed agreements with Pfizer, Inc. that provides funding of up to A$1.28 million over three years to support targeted development activities.
The funding will be used for development of a set of novel pediatric neuropsychological computer tests, development of technology for modeling brain function using analysis of the acoustic properties of human speech and ongoing development of CogState's proprietary technology for the early detection of dementia due to Alzheimer's disease, according to a company news release.
The pediatric cognitive tests will be designed specifically for the neuropsychological assessment of children in clinical trial settings, officials said.
The speech acoustic technology is used for the measurement of disease progression and treatment response in Parkinson's disease patients. It has the potential for further application in other neurological disorders, officials said.
These developments will expand CogState's portfolio of innovative solutions for clinical trials in the pharmaceutical industry, officials said.
The company said it anticipates commercial roll-out of the new tests will begin in the latter half of 2005. The market has an estimated worth of about $75 million annually, officials said.
CogState, based in Melbourne, Australia, develops and commercializes Clinical Information Technology (ClinIT) software with current products that measure brain function and have use in clinical trials conducted by pharmaceutical and biotechnology companies to show the effects of drugs on the brain.
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