Mindstrong Health managed to raise $14 million to support neuropsychiatric diagnosis and treatment platform. The Mindstrong Al-powered platform is meant to provide continuous digital biomarkers of mood cognition which helps in executive function, processing speed, memory, and attention. Some of the companies’ present in the A round were Foresite Capital, Optum Ventures, ARCH Venture Partners, Berggruen Holding among others.
According to Jim Tananbaum, CEO of Foresite Capital, he applauded Mindstrong Health founding team for bringing together people who have different ideas from the medical community to tackle critical challenges that face patients who suffer from cognitive health disorders. Jim Tananbaum said that collective experience of these personnel ranges from technical vision, leadership, and people who are ready to improve patients’ outcome. This will give them a chance to gain innovative experience that will improve the care system.
Dr. Paul Dagum, CEO of Mindstrong Health, said that to enhance the outcome of mental disorders patients, there is the need for objective measures to be considered.
Jim Tananbaum founded Foresite Capital in 2011. He studied at Yale University where he majored in electrical engineering, maths, and computer science. He also studied at Harvard University where he did M.D and M.B.A of the same course. He persuaded his M.S at Massachusetts Institute of Technology. He served on the advisory board of both Yale University and Harvard.
Jim as described on Medium.com is intelligent in investing experience and healthcare entrepreneurial with over 25 years of experience. He has a unique strategy for his success where he focuses on financial and operational opportunities to build franchise healthcare business. He is the brains behind the success of Foresite Capital portfolio companies and in architecting the investment strategy and organization structure of Foresite.
Jim Tananbaum’s success in leading Foresite Capital efficiently can be attributed to the fact that he previously founded two leading healthcare investment practices and biopharmaceutical companies. He founded Gel Tex Pharmaceutical immediately after finishing his studies in Massachusetts. The company succeeded after its leading drug, Renagul, was able to bring a revenue of $ 200 million annually. Jim also co-founded Theravance, Inc and served as its CEO. The two companies are now flourishing after having a combined market capitalization of $ 3.2 billion.