Mindstrong Health, a startup venture that specializes in the use of smartphones to diagnose and help in the treatment of neuropsychiatric disorders recently admitted to having secured investment funds amounting to $14 million. The funds were raised by investors that included ARCH Venture, One Mind Brain Health Impact Fund, Foresite Capital, and Optum Ventures.
Speaking about the Mindstrong’s venture, the organization’s founder and CEO Paul Dagum Saud observed that tracking mental disorders has been reduced to clinical reports, despite the fact that today’s medicine is purely based on objective measurement. He further highlighted the inherent need for adoption of objective measures that are used for other serious health complications such as heart disease and diabetes towards the treatment of mental disorders.
In response to the current lapses in the treatment of mental complications, Mindstrong has created a platform that utilizes scrolling and typing patterns of patients on a smartphone to assess brain function. The platform remits information regarding the patient’s mood and cognition biomarkers, including memory, processing speed, and brain functionality. According to Foresite Capital CEO and Managing Director Jim Tananbaum, Mindstrong’s founding team possesses an unrivaled understanding of critical problems surrounding the manner in which the medical community takes care of patients with cognitive health disorders.
About Jim Tananbaum
Jim (http://www.officialjimtananbaum.com/) is a proud founder of the of Foresite Capital. He is a leader in the industry who possesses an extensive 25 years of experience in Healthcare entrepreneurship and investment. His primary focus in operational, strategic and financial opportunities to build and run venture health care businesses. His role in the development of Foresite Capital portfolio companies cannot be ignored since he has served the organization as a chief architect of capital investment strategy and organization structure.
Jim is also a founder of two other two healthcare investment practices and two biopharmaceutical companies. He attended Harvard University Medical and Business Schools and earned an MS from MIT. During his final years in the two universities, he founded GelTex Pharmaceuticals. He is also a proud co-founder and CEO of Theravance Inc, which found shares GSK’s respiratory franchise via a joint venture, Innoviva. He is also a co-founder of Prospect Venture Partners II and III and was a partner at Sierra Ventures. More information available on Jim Tananbaum’s Linked In page.