ALACHUA, Fla.--(BUSINESS WIRE)--Banyan Biomarkers, Inc., the leader in developing in vitro diagnostic products to detect traumatic brain injury (TBI), announced today that they have been awarded a $26.3 Million Contract for the development of a diagnostic test for TBI.

This award will help fund critical research for a point of care test to diagnose TBI and has significant potential for both military and civilian applications. Jackson Streeter, M.D. and CEO of Banyan Biomarkers, Inc. stated, “We are pleased to be working with the Department of Defense to develop a blood test for TBI. Properly diagnosing TBI will help medical professionals triage and treat our soldiers more effectively.”

Each year in the United States, approximately 1.4 million people are treated in emergency rooms because of TBI. Automobile accidents, falls, sports related injuries, and assaults are common causes of TBI. It is estimated that as many as 20% of combat veterans have suffered some degree of traumatic brain injury due to bomb blasts while in Iraq or Afghanistan.

About Banyan Biomarkers

Banyan Biomarkers is the leader in developing in vitro diagnostic products to address unmet clinical needs for the detection of traumatic brain injury. The Company is focused on developing a simple point-of-care blood test that will be used to detect the presence and severity of brain trauma and improve the medical management of head injured patients. Banyan Biomarkers was founded by Dr. Ronald Hayes and Dr. Kevin Wang while serving as faculty members at the McKnight Brain Institute at the University of Florida. To learn more about Banyan Biomarkers, Inc., visit http://www.banyanbio.com.