Alzheimer’s Drug Discovery Foundation Funds Development of Clinical Tests for Alzheimer’s Disease

NEW YORK, NY--(Marketwire - January 21, 2009) -

The Alzheimer’s Drug Discovery Foundation (ADDF) awarded the British firm of Cambridge Cognition Ltd. a grant of $200,000 to assist in their development of a clinical cognitive assessment product for Alzheimer’s disease. ADDF made this award as part of its effort to advance early detection and the reliable assessment of cognitive function in patients with Alzheimer’s disease and related dementias in clinical care, as well as accelerate drug development and clinical monitoring of therapy.

Cambridge Cognition is a world leader in the development of computerized cognitive tests, with its CANTAB battery, which are now in use in over 500 research departments in over 60 countries. Their Paired Associate Learning (PAL) test is widely recognized as being the most accurate current test for the detection of early stage dementia and Mild Cognitive Impairment, as well as accurately differentiating between demented and normal patients and those suffering from depression. This test will form the basis for the future clinical assessment of AD.

“The market for computerized cognitive tests in diseases such as Alzheimer’s is expanding, maturing and gaining recognition,” remarked Howard Fillit, MD and Executive Director of ADDF. “The device and tests being developed by Cambridge Cognition will enable the clinician to accurately identify patients with cognitive impairment due to early dementia. The device will also enable clinicians to objectively measure the ongoing effects of disease modifying drugs currently in development and promote their effective use. We assessed Cambridge Cognition both on the quality of their science and for commercial due diligence. Their scientific base is outstanding with over 600 quality peer reviewed papers and we believe that their ‘stand alone’ device has clinical merit.”

Ian Harris, The CEO of Cambridge Cognition, welcomed the grant as “this will really speed up our time to market and is an enormous vote of confidence in both our science and our business model by a highly respected independent charity. This test when in clinical use will make a real difference to patient outcomes.”

About the Alzheimer’s Drug Discovery Foundation (ADDF)

ADDF is the only public charity whose sole mission is to accelerate the discovery and development of drugs to prevent, treat and cure Alzheimer’s disease, related dementias and cognitive aging. We award grants to leading scientists conducting breakthrough drug discovery research.

ADDF uses a venture philanthropy model to bridge the worldwide funding gap between basic research and later-stage development, using any return on investment to support new research. Since 1998, we have received over 1,600 requests to fund new ideas for Alzheimer’s drugs. For all, we provided expert reviews and recommendations to advance their programs. We granted more than $35M to fund over 240 Alzheimer’s drug discovery programs in academic centers and biotechnology companies in 12 countries. For more information, visit our website at www.alzdiscovery.org.

About Cambridge Cognition Ltd.

Cambridge Cognition develops and markets CANTAB®, the world’s leading cognitive testing product for the diagnosis and assessment of important mental health diseases including Alzheimer’s, Depression, Schizophrenia and ADHD. The computerised neuropsychological tests in CANTAB® are outstandingly sensitive and extensively validated, with a bibliography of over 600 peer-reviewed journal papers. Based in Cambridge, England, and Cambridge, Massachusetts, Cambridge Cognition Ltd supplies its products and services to the pharmaceutical industry and academic researchers across the globe.