Royal Philips (NYSE:PHG) and blood test developer Banyan Biomarkers said today they inked a deal to develop and commercialize a handheld blood test to test for concussions. Financial terms of the agreement were not disclosed.
The new test will be based on Philips’ Minicare I-20 system, and will useable at the point of care, the companies said. The I-20 system consists of a handheld analyzer and software and a single use, disposable cartridge for the test.
“Point-of-care diagnostics for acute care settings, such as handheld blood tests for Emergency Departments, will play a critical role in improving patient outcomes and reducing healthcare costs. The joint development agreement with Banyan Biomarkers is another great example of our expansion into this fast growing market. Our innovative Minicare technology platform and partnerships are a firm foundation for our ambition to become a leader in this new growth market for Philips. This partnership will broaden the menu offering on our Minicare I-20 system and will strengthen our competitive position in point-of-care diagnostics for the emergency department,” Philips handheld diagnostics CEO Marcel van Kasteel said in a press release.
Currently there are no blood tests usable by physicians at the point of care to detect the presence and severity of brain trauma, Philips said, though Banyan Biomarkers has identified 2 proteins that rapidly appear in the blood of patients after injury.
“A rapid and objective point-of-care test to evaluate traumatic brain injury will help millions of patients throughout the world. This partnership with Philips to develop and commercialize a TBI blood test on the Minicare system is an important step forward in providing physicians and other healthcare providers information to evaluate patients who have suffered a concussion,” Banyan Biomarkers CEO Dr. Jackson Streeter said in a prepared statement.