AIM-listed neuroscience technology company Cambridge Cognition Holdings has signed a distribution agreement to market a Parkinson's sensor pen for healthcare technology group Manus Neurodynamica.
Manus' sensor pen is used for the diagnosis and monitoring of neuromotor impairments in academic research, pharmaceutical clinical trials and occupational health markets.
The pen is a non-invasive medical device which analyses limb and hand motions to assess neuromotor processes, particularly for patients with Parkinson's disease.
Initially, Cambridge Cognition will market it for use in academic research through its existing sales channels in the final quarter of this year. It will then be marketed for use by healthcare professionals in Europe and the US.
Cambridge Cognition said the pen is a more accurate and low cost measure in clinical research. It can reportedly reduce costs by diagnosing the disease early to avoid patient deterioration to the stage where intervention costs increase.
Dr Rutger Zietsma, managing director of Manus, said the device is a product of 10 years' research with sensor systems and the development of data analysis for the disease, and the collaboration with Cambridge Cognition could provide opportunities for future synergistic product development.
"Cambridge Cognition is the perfect partner for Manus products with their reputation for providing high-end, innovative and clinically validated neuroscientific products and well-established commercial partnerships with leading academic institutions and the biopharmaceutical industry globally."
Cambridge Cognition chief executive Dr Steven Powell added: "Research and development in Parkinson's disease is a key field for Cambridge Cognition and a hugely important area of research.
"The addition of the Manus Parkinson's pen to our neurotechnology portfolio enables us to further leverage our investments in commercial channels and allows us to combine world leading cognitive assessments with cutting-edge physical measures as we continue to advance the understanding, diagnosis and treatment of neurological disorders worldwide."
Around seven and 10m people worldwide are living with Parkinson's disease, which is predicted to more than double by 2040. In the US alone, the direct and indirect cost of the disease is estimated at nearly $25bn per year.
Cambridge Cognition shares rose 4.05% to 38.50p at 1040 BST.
http://www.livecharts.co.uk/share_prices/Cambridge-Cognition-signs-distribution-deal-w-news24577295.html
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