Biotech company invests millions to develop TBI diagnostics
Multinational biotechnology company bioMérieux announced its investing millions of dollars in partnership with Banyan Biomarkers, a San Diego-based company. According to an article by GEN (Genetic Engineering & Biotechnology News), bioMérieux will invest $7 million. The agreement is to develop and commercialize in vitro diagnostics (IVD) for traumatic brain injury (TBI) using Banyan’s proprietary TBI blood biomarkers. […]
Multinational biotechnology company bioMérieux announced its investing millions of dollars in partnership with Banyan Biomarkers, a San Diego-based company.
According to an article by GEN(Genetic Engineering & Biotechnology News), bioMérieux will invest $7 million. The agreement is to develop and commercialize in vitro diagnostics (IVD) for traumatic brain injury( TBI) using Banyan’s proprietary TBI blood biomarkers.
An IVD Medical Device is defined as a device which, whether used alone or in combination, is intended by the manufacturer for the in-vitro examination of specimens derived from the human body solely or principally to provide information for diagnostic, monitoring or compatibility purposes.
BioMérieux (Euronext: BIM) is a multinational biotechnology company founded and headquartered in France. A world leader in the field of in vitro diagnostics for 50 years, bioMérieux is present in more than 150 countries through 42 subsidiaries and a large network of distributors.
bioMérieux provides diagnostic solutions (reagents, instruments, software) which determine the source of disease and contamination to improve patient health and ensure consumer safety. Its products are used for diagnosing infectious diseases and providing high medical value results for cancer screening and monitoring and cardiovascular emergencies. They are also used for detecting microorganisms in agri-food, pharmaceutical and cosmetic products.
The deal gives bioMérieux preferred rights to develop the biomarker assays for use on its VIDAS ® immunoassay platform, according to the article. The team will also explore other potential co-development prospects in TBI and other areas including critical care.
“Banyan says it has secured more than $100 million in grants and contracts. The firm raised $8 million in its Series A fundraising in 2013. A pivotal, 2000-patient TBI trial has been funded through a $26.3 million contract with the U.S. Department of Defense,” the article reads. “Most recently, in August 2016, Banyan inked a TBI biomarker collaboration with Quanterix, and at the start of 2016 the firm teamed up with Royal Philips to develop and commercialize a handheld blood test, based on Philips’ Minicare I-20 system, for detecting and evaluating mild TBI, or concussion, at the point of care.”
