Mindstrong Health, a neurological company that uses devices to improve mental healthcare, has announced the completion of their Series A funding. The financing round, which was led by Foresite Capital and ARCH Venture Partners, raised $14 million, reports patientdaily.com. The money is intended to support Mindstrong Health’s neuropsychiatric treatment and diagnosis platform that uses smartphones to improve mental health care. The platform will provide “continuous digital biomarkers of mood and cognition,” which will include processing speed, memory, attention and executive function.
Jim Tananbaum, the founder and CEO of Foresite Capital, said that Mindstrong Health’s powerful approach gives a clear understanding of how the medical community deals with patients having cognitive health disorders. He added that the treatment will provide an innovative and modern platform that will improve health care services. The clinical trial results will be announced later. This information was originally mentioned on Google.
About Jim Tananbaum
Foresite Capital (see linkedin.com) is an equity firm that invests in disruptive healthcare ventures by supplying information, capital and networks. Intarcia, a twice-a-year type II diabetes implant that helps patients to control the disease and lose weight, is the largest investment of Foresite. Jim Tananbaum believes that Intarcia’s products can make a big change in Diabetes. Despite Foresite receiving its institutional capital in 2013, it has funded numerous pharmaceuticals, gene sequencing, data science, healthcare delivery and synthetic biology companies. The company has invested in Aeri Pharmaceuticals, a glaucoma treatment company, Alder Pharmaceuticals, Sequenta, 10X, Nanostring, Editas, and Muse Bio.
Before establishing Foresite Capital, Jim Tananbaum participated in the founding and funding of numerous companies, which have grown to become successful. They include GelTex Pharmaceuticals, Theravance, Jazz Pharmaceuticals, HealtheonWebMD and Amerigroup. Jim studied math and electrical engineering/computer science at Yale. He enrolled in Harvard University where he pursued his MD and MBA. The alumnus of the revered Massachusetts Institute of Technology holds an MS. The executive has been mentored by different people, including Rick Levin (Yale), George Whitesides (Harvard), Roy Vagelos (Merck and Theravance) and NCI’s Rick Klausner. Jim works closely with leading entrepreneurs and top academicians to enhance his career. He strongly believes that change and growth can be enhanced through science and extensive learning. To this end, he continues to share his insights with the public. Website: officialjimtananbaum.com