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CogState Signs Agreement to Acquire Canadian Software Test Product to Market to the Clinical Trials Market
15 / 09 / 2005
Melbourne based healthcare IT company, CogState Ltd (ASX:CGS), announced today it signed an agreement with a Montreal, Canada based company to acquire a Voice Analysis (VA) software product which can identify symptoms of Parkinson's Disease. The software may also have applications in clinical settings for identifying and assessing treatment response in Parkinson's Disease, Schizophrenia and other disorders of the brain.
CogState also announced today a major restructure which will see the company focus on expanding its business into the marketing of software and services into the clinical trials space. "The VA product has already been sold for use in a clinical trial, which is the focus of business development for CogState's existing computer based cognitive software products. We intend to automate and distribute the use of this product in our
growing and already established market of cognitive tests for the pharmaceutical clinical trials industry" said Peter Bick, CEO of CogState.
The scrip-only acquisition provides for a small number of CogState Ltd shares to be issued in consideration for the acquisition. The agreement provides for the issue of
additional shares and a one-off cash payment upon the achievement of agreed revenue milestones from the sale of the Voice Acoustics product.
For more information, please contact Dr Peter Bick on 03 9664 1300.
CogState also announced today a major restructure which will see the company focus on expanding its business into the marketing of software and services into the clinical trials space. "The VA product has already been sold for use in a clinical trial, which is the focus of business development for CogState's existing computer based cognitive software products. We intend to automate and distribute the use of this product in our
growing and already established market of cognitive tests for the pharmaceutical clinical trials industry" said Peter Bick, CEO of CogState.
The scrip-only acquisition provides for a small number of CogState Ltd shares to be issued in consideration for the acquisition. The agreement provides for the issue of
additional shares and a one-off cash payment upon the achievement of agreed revenue milestones from the sale of the Voice Acoustics product.
For more information, please contact Dr Peter Bick on 03 9664 1300.