San Diego Business Journal

Banyan Biomarkers Inc. Receives $6M in Series A Funding

Friday, June 21, 2013

Carlsbad-based Banyan Biomarkers Inc. announced it has received $6 million in Series A funding from private investors to develop a diagnostic test for traumatic brain injury.

The company is currently conducting a 2,000-patient clinical trial funded with a $26.3 million contract from the U.S. Department of Defense.

The company is developing a simple blood test that can help physicians quickly detect brain trauma, and improve the medical management of head injury patients, it said in a release.

“We are extremely pleased to have such a group of highly experienced investors who will help us grow the company to the next level,” Jackson Streeter, CEO of Banyan Biomarkers, said in a statement. “Our groundbreaking research is poised to bring the first-ever diagnostic blood test for traumatic brain injury to the patient.”

He said the test will provide critical objective information to assist physicians in diagnosing and treating such injuries.

— SDBJ Staff Report