Cambridge Cognition's Monument enters schizophrenia partnership with FNIH

(Sharecast News) - Cambridge Cognition said on Tuesday that Monument Therapeutics, in which it holds a 20% stake, has partnered with the Foundation for the National Institutes of Health to trial a new treatment for schizophrenia. The AIM-traded firm said the clinical study would evaluate MT1988, a novel therapy targeting cognitive impairment associated with schizophrenia, in a proof-of-principle trial under the Accelerating Medicines Partnership Schizophrenia programme.

It said the initiative, managed by FNIH, would bring together the US National Institutes of Health, major pharmaceutical groups and non-profit organisations, with $44m committed to date.

Cambridge Cognition said schizophrenia ranks among the top 15 causes of disability worldwide, with symptoms including hallucinations, delusions and cognitive decline.

Many patients showed early signs in a "clinical high risk" phase, which currently has no effective treatment options.

It said its proprietary digital cognitive assessment tools supported the early development of MT1988 and helped establish the biomarker strategy used by Monument.

The company retains a 20% equity interest, valued at £1.8m, and future royalty rights, following Monument's spin-out in 2021.

"Monument's continued progress into patient trials is a significant step in developing precision treatments for brain health," said Rob Baker, joint managing director and chief operating officer.

"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."

At 1128 BST, shares in Cambridge Cognition Holdings were up 85 at 27p.

Reporting by Josh White for Sharecast.com.