Banyan Biomarkers completes $6 million series A funding for further biomarker research

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”

"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.