- Cognition researchers Cogstate has licensed its technology to Japanese pharmaceutical company Eisai
- The company will initially receive US$1 million in royalty fees
- Cogstate’s share price is up 7.69 per cent today, currently sitting at $0.21 apiece
Cognition researchers Cogstate have licensed its technology to Japanese pharmaceutical company Eisai.
The exclusive agreement will see Eisai promote Cogstate’s technology to the Japanese market as a digital assessment tool for cognition.
Cogstate’s clinical trials will be excluded from the agreement, so the company can continue to self market them.
Eisai will pay US$1 million as an upfront royalty fee and cover any additional development costs to tailor the product for the Japanese market.
CEO at Cogstate Brad O’Connor said: “We are honoured to align with Eisai as they progress their plans to address the unmet needs of patients through innovation… as we continue to work together in the quest for a cure for Alzheimer’s disease.”
Initially, the agreement is set for 10 years, with performance reviews at year five and eight to maintain exclusivity.
Additionally, the company is looking to raise $2.86 million from shareholders, to assist in funding the scientific, operational and technical support of Cogstate’s technology in Japan.
Cogstate’s share price is up 7.69 per cent today, currently sitting at $0.21 apiece, as of AEST 3:42 pm.