Jim Tananbaum Partners With Other Investors To Raise $14 Million For Mindstrong Health

Recently, Mindstrong Health posited that they had succeeded in raising $14 million in a Series A funding. The management of neurological-focused start-up company said that they would use the money to support its neuropsychiatric diagnosis and treatment platform. The company’s Al-powered platform has advanced capabilities of monitoring interaction patterns on smartphones for purposes of objectively measuring brain functions.

Notably, the corporation’s platform seeks to offer continuous digital biomarkers of cognition and mood, including processing speed, memory, and attention. Dr. Tom Insel posited that the company is doing a commendable job of transforming individual’s pattern of scrolling and typing using a smartphone to measure cognitive function. Tom is the president and co-founder of Mindstrong Health. The executive went on to state that this approach served as a good platform to develop better therapies for improving mental health care. Dr. Tom concluded by saying that smartphones will serve as global solutions for mental disorder, a universal health concern.

Foresite Capital, Berggruen Holdings, ARCH Venture Partners, One Mind Brain Health Impact Fund and Optum Ventures contributed to the success of the company’s first round of funding. The CEO of Foresite Capital, Jim Tananbaum, contends that the leadership, technical vision and experience of Tom, Rick and Paul would help the company to modernize the way healthcare is provided. He went on to state that the company has unparalleled success in how the medical community should care for the patients having cognitive health disorders.

The company posited that the results of a clinical trial would be released in the near future for purposes of supporting the platform. Dr. Paul Dagum, the chief executive officer of Mindstrong Health, posited that the corporation’s technology would be able to offer objective measures of cognition and behavior at an enhanced resolution. This information was originally reported on Mass Device as provided in the following link http://www.massdevice.com/neuropsych-treatment-diagnosis-platform-dev-mindstrong-health-raises-14m-series/

About Jim Tananbaum

Before founding Foresite Capital, Jim Tananbaum had established GelTex Pharmaceuticals and Theravance. Through the former, Tananbaum developed and brought two leading drugs to the market at a relatively cheap cost. The executive has vast experience in investing and developing sustainable healthcare corporations.

The alumnus of Harvard Business School, Harvard Medical School, Massachusetts Institute of Technology and Yale has played a pivotal role in augmenting the success of different corporations. These entities include Amira Pharmaceuticals, Healtheon, Amerigroup and Jazz Pharmaceuticals. For more info, check out his Linked In page.

Related: https://inc42.com/buzz/forbes-midas-top-100-investors-2017/

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