Mindstrong Health, a startup that uses smartphones in the diagnosis and treatment of the neuropsychiatric disorders, managed to raise $14 million in the Series A funding. This funding was done by several investors including Foresite Capital, One Mind Brain Health Impact Fund, Optum Ventures and ARCH Venture Partners. It intends to use these funds to improve its diagnosis platform and neuropsychiatric treatment. This platform is meant to monitor the pattern of interaction of the devices they use for the measurement of brain function.
Series A round funding brought together different investors. ARCH Venture Partners and Foresite Capital led the way. The two were then joined by One Mind Brain Health Impact Fund, Berggruen Holdings, and Optum Ventures. Their main purpose was to help Mindstrong Health come up with their desired diagnosis platform to lead the world in the provision of the digital diagnosis services.
The platform is a plus to this company’s service delivery. It uses the patient’s typing and scrolling patterns on the smartphone to gauge the function of the brain. Through the platform, a lot of information can be gathered. The physician can note the mood and the cognition biomarkers such as memory, processing speed, and function. Visit Medium to know more details.
About Jim Tananbaum
Jim Tananbaum, the founder and the CEO of Foresite Capital, has $1.1 billion worth assets under management. He has been investing in and building healthcare companies for more than two and half decades now. Jim is also a confounder of other companies in the biopharmaceutical and healthcare investment sectors. Together with his colleagues, they created GelTex Pharmaceuticals, a company that used less than $80 million to develop two drugs and Theravance, Inc. which he also served as its CEO.
Jim has been part of several other companies. He started his career at Prospect Venture Partners II, and III then moved to Sierra Ventures. His most notable investments before coming up with Foresite Capital included Amerigroup, Healtheon, Jazz Pharmaceuticals and Amira Pharmaceuticals. Jim went to Yale University from where he acquired B.S.E.E. and B.S. He also holds M.D., M.S., and M.B.A. from Harvard Medical School, MIT, and Harvard Business School in that order. Check out officialjimtananbaum.com
Linked In profile: https://www.linkedin.com/in/jim-tananbaum-a7562a7/