CAMBRIDGE, Netherlands, Sept. 10, 2001 (PRIMEZONE) -- CeNeS Pharmaceuticals plc (LSE:CEN) today announced plans to float its cognition subsidiary, Cambridge Cognition, on AIM later in the year.
CeNeS' strategy is to focus on the research, development and sale of pharmaceutical products for the treatment of pain and disorders of the central nervous system (CNS). For this reason, the board believes that the growth potential of Cambridge Cognition is stronger as an independent company.
Daniel Roach, Chief Executive of CeNeS said: "CeNeS has managed the cognition division since early 1997 and has grown the product technology base and sales volume significantly in that period. Further expansion of Cambridge Cognition will be best achieved outside of the constraints imposed by CeNeS core focus on pain and CNS."
CeNeS is a biopharmaceutical company specializing in the development and commercialization of drugs for CNS disorders and pain control. The company currently markets four products, and has a research and development pipeline targeting pain, stroke, schizophrenia, addiction, sleep disorders, Parkinson's disease and multiple sclerosis. CeNeS also has a cognitive division, which markets CANTAB, a computerized cognitive test, and a drug delivery division. In addition it has a range of platform technologies including AutoPatch(TM) its unique automated patch clamping technology. The group has around 130 staff working from modern research and manufacturing facilities in Cambridge, England, Irvine, Scotland and Boston, USA.
Cambridge Cognition was formed in July 2001 by the merger of Management Dynamics Cambridge and the cognitive division of CeNeS. Cambridge Cognition provides pharmaceutical companies, academics and clinicians with a range of computer-based psychological and neuropsychological products and services. When used in drug trials these products and services can offer early stage assessments of drug efficacy and dramatically reduce abortive development expenditure. When used by clinicians they provide vital information about cognitive functioning that can help in the diagnosis of a wide range of clinical disorders such as Alzheimer's disease, Parkinson's disease, schizophrenia, chronic fatigue and depression.
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