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cgs completes over $180,000 in sales since aug CogState Ltd
www.cogstate.com
8th September 2004
CogState Completes Over $180,000 in Sales Since August
As an update for shareholders, CogState Limited (ASX:CGS) announced today it has
achieved significant revenue growth in the first ten weeks of the financial year – with more
than $180,000 of sales of its diagnostic test for dementia and sports-related concussion
management.
These deals have been signed with major companies and organizations such as the
Centers for Disease Control in the US and Pfizer.
The revenue resulting from these deals, which equates to almost 98% of sales revenue
for the previous financial year, has been achieved in the first 10 weeks of this financial
year (2004: $192,094) and indicates that CogState is on track for a healthy growth in
revenues for the 2004-2005 year, according to Dr Peter Bick, CEO of CogState.
The deals, which will generate the following revenue for CogState this financial year,
are as follows:
Date of
Agreement
Contracting Party Details Revenue
to
CogState
Total
2004
Revenue
16 Aug 2004 Centres for Disease
Control and
Prevention (Atlanta)
Trial of HIV patients to spot early
signs of HIV-related dementia
$21,000
25 Aug 2004 Pfizer Inc. Interim Agreement in respect of
Phase III clinical trial
$70,000
16 Aug 2004 England Rugby
Football Union
Testing services for the year to 30
June 2005.
$37,000
8 Sept 2004 Pfizer Inc. Phase I clinical trial $60,000
Total $188,000 $192,094
All revenue from the above contracts will be booked by CogState prior to 30 June 2005.
Other Significant Revenue Raising Achievements:
In addition to the above sales, CogState has also, since 1 July 2004, announced:
• The signing of a Master Service Agreement with Pfizer Inc., which will provide the
contractual basis for Pfizer’s future use, during clinical trials, of CogState’s
computerized cognitive tests.
• The signing (on 21 July, 2004) of a deal with major US sporting goods manufacturer,
Schutt Sports, that will see the CogState diagnostic test, branded Concussion Sentinel
for the US market, given away free to every College and High School in the USA for
one year.
The agreement with Schutt Sports and the associated “give away” has already received
extensive media coverage in the USA, including the following:
• USA Today – July 27th, 2004
• Fox SportsNet – July 27th, 2004
• CNN headline News – August 13th, 2004
Advertising and promotion of the Concussion Sentinel product is continuing and the team
at CogState are focused on signing new customers whilst the product is given away free
so that next year our large base of experienced users will make the choice to renew or
not rather than the tougher decision to purchase.
About CogState: CogState Ltd. was established in 1999 with headquarters in Melbourne, Australia. In
February 2004 the company listed on the Australian Stock Exchange (ASX) as “CGS.” The company
specializes in neuroscience, particularly in the development and commercialization of computer-based tests
for neurodegenerative disorders such as Alzheimer’s and Parkinson’s disease and concussion-related injury.
A division of the company, CogSport, marketed in the U.S. through a partnership with Schutt Sports (the
worlds largest manufacturer of American Football helmets as Concussion Sentinel, is a novel concussion
management tool developed to aid physicians in making confident return-to-play decisions after an athlete
has suffered a concussion. Concussion Sentinel is applicable for use by sporting organizations, medical
professionals, and parents/athletes and provides rapid measurement of cognitive function. Other divisions of
the company focus on providing computer-based measurement tools to pharmaceutical companies for use
during clinical trials. CogState also has a therapeutics division which has in-licensed two drug targets from
leading medical research organisations in Japan and Israel for the treatment of Alzheimer's Disease and
Parkinson's Disease respectively.
For more information call Dr. Peter Bick on 0408 415 823 or visit
www.cogstate.com