ALACHUA, Fla. & CARLSBAD, Calif.--(BUSINESS WIRE)--Banyan Biomarkers, Inc. today announced that it has completed a $6 million series A funding from private investors for further biomarker research and continued development of a traumatic brain injury (TBI) diagnostic test. Currently, the company is enrolling subjects in a 2,000 patient pivotal clinical trial funded by a $26.3 million contract with the United States Department of Defense.
“We are extremely pleased to have such a group of highly experienced investors who will help us grow the company to the next level” said Jackson Streeter M.D. CEO of Banyan Biomarkers, “Our groundbreaking research is poised to bring the first ever diagnostic blood test for TBI to the patient. This test will provide critical objective information to assist the clinician to properly triage and diagnose TBI.”
Of the 1.7 million TBIs that occur in the US each year, it is estimated that 1.4 million are seen in emergency departments according to the Centers for Disease Control. As a result, direct and indirect costs of TBI in the US were approximately $76.3 billion in 2010.
About Banyan Biomarkers
Banyan Biomarkers, Inc. is focused on developing a simple point-of-care blood test that could be used by physicians to rapidly detect the presence of mild and moderate brain trauma and improve the medical management of head injured patients. The Company’s test uses two protein biomarkers licensed from the McKnight Brain Institute at the University of Florida that rapidly appear in systemic circulation after a brain injury.
To learn more about Banyan Biomarkers, visit www.banyanbio.com.