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Philips, Banyan Biomarkers Collaborate to Detect Concussions

Diversified health and well-being company Koninklijke Philips N.VPHG formed a multi-year joint development collaboration with Banyan Biomarkers - aimed at developing and commercializing a new handheld blood test to detect and assess concussions at the point of care.

The collaboration aims at developing an innovative, handheld blood test that will help doctors break new grounds in evaluating concussions, or mildtraumatic brain injury ("TBI").

The new handheld test will leverage Philips' prowess in patient monitoring and handheld diagnostics technologies, and will be based on its Minicare I-20 system. The collaboration will employ Banyan Biomarkers' knowledge of biomolecules that indicate neurological injuries, and will capitalize on Philips' proven clinical decision to support applications in acute care settings.

Diagnosing concussions accurately is often tricky because the brain injury may not be noticeable without an objective, reliable test. An incorrect diagnosis and lack of proper treatment in a timely manner could have grave implications for the patient. The fact is that things can quickly take a turn for the worse following a brain injury. As of now, there is no blood test that can identify the presence and severity of brain trauma, like a concussion.

Banyan Biomarkers has identified two proteins that show in the blood of patients shortly after a patient is injured. This new blood test will detect those proteins.

The blood test system will include a handheld analyzer, a single use, disposable cartridge and dedicated software. Extremely advanced and based on Philips' proprietary Magnotech biosensor technology, the system can easily sense multiple target molecules in blood samples at low concentrations and display the results on the analyzer in minutes.

The collaboration marks another step for Philips in its aspiration to become a leader in this new, rapidly-growing market. Expanding its already diverse portfolio of offerings under its Minicare I-20 system, the partnership will strengthen the company's competitive footing in point-of-care diagnostics for the Emergency Department.

Such point-of-care diagnostics for acute care settings are set to play a crucial role in decreasing healthcare costs as well as improving patient outcomes.

Philips currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same sector include GigOptix, Inc. GIG , Mistras Group, Inc. MG and Macquarie Infrastructure Corporation MIC . While GigOptix and Mistras sport a Zacks Rank #1 (Strong Buy), Macquarie holds a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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