Recently, Optum Ventures, Foresite Capital, One Mind Brain Health Impact Fund and ARCH Venture Partners played a pivotal role in raising $14 million for Mindstrong Health in their Series-A Funding. Paul Dagum is the the CEO and Founder of Mindstrong Health, a startup that uses smartphones to diagnose and treat neuropsychiatric disorders. Paul contends that the success of modern medicine is anchored on objective measurement. However, tracking of mental health is subject to clinical environment reports.
Paul went on to state that in order to enhance the outcomes of individuals having mental disorders, there would be the need to use the objective measures available for other diseases such as heart diseases and diabetes. The executive concluded by saying that Mindstrong’s technology of delivering objective measures of behavior and cognition is unrivaled.
Over the years, Mindstrong has been able to develop a platform that measures brain function by taking cognizance of patient’s typing and scrolling patterns on a smartphone. This platform takes account of cognition and mood biomarkers that include processing function, memory and speed. Jim Tananbaum, the chief executive officer of Foresite Capital posited that the founding team of Mindstrong Health has a broad understanding of the various challenges that affect how the medical community caters for patients having cognitive health disorders. This information was originally mentioned on Patient Daily as outlined in this link http://patientdaily.com/stories/511131545-startup-health-tech-firm-mindstrong-health-secures-14-million-in-funding
About Jim Tananbaum
Jim is the founder of Foresite Capital. The company has an asset base of $1.1 billion. He has vast experience in building and investing in successful healthcare companies. Jim is credited for founding two healthcare investment companies and two pharmaceutical corporations. The graduate of Harvard Medical School is the founder of GelTex Pharmaceuticals. Under his leadership, the company brought two successful drugs to the market at a total cost of less than $ 80 million. Today, these drugs are generating $ 1 billion in revenues.
Tananbaum is the founder of Theravance. Together with Theravance Biopharma, Theravance’s spin-off, the two corporation’s market capitalization is $2.75 billion. Earlier in his career, Jim Tananbaum served as a founding partner of a renowned corporation, Prospect Venture Partners II and III. In addition, Jim is affiliated with the success of different companies, including Jazz Pharmaceuticals, Amira Pharmaceuticals, Healtheon and Amerigroup. Tananbaum is a graduate of Yale, Harvard Business School and Massachusetts Institute of Technology.
Follow Foresite Capital on twitter.