Mindstrong Health has just completed its series-A funding that saw them raise $14 million. This fund shall be channeled towards enhancing the company’s neuropsychiatric treatment and diagnosis platform. This innovative platform seeks to study brain function through interactions on smartphone devices. It will monitor the patient’s processing speed, memory, attention and executive functions of the brain. The financing round was made a success courtesy of the contributions made by Jim Tananbaum’s Foresite Capital, ARCH Ventures, Optum Ventures, One Mind Brain Health Impact fund and Berggruen Holdings. The results of the clinical trial of tracking mental health will be released later. Jim Tananbaum said that Mindstrong Health has zeroed in on the critical challenges facing the medical community. He said that the new platform will improve patient‘s outcome and help physicians to modernize their healthcare systems. Check out Crunchbase to know more.
About Jim Tananbaum
Jim Tananbaum serves as the founding CEO of Foresite Capital, a renowned healthcare growth equity firm. Dr. Jim has an extensive experience in the field of healthcare entrepreneurship and investment considering that he has been in the industry for over two decades. Foresite Capital specializes in financial and strategic operational opportunities to build disruptive healthcare brands. The company’s largest investment is Intarcia, a renowned entity that develops type II diabetes implants that help patients to control the disease and lose weight. Notably, Foresite Capital has also financed a revered healthcare franchise known as Aeri Pharmaceuticals. The company develops glaucoma treatment. The other companies that have benefited from Jim Tananbaum’s services are Sequenta, 10X, Nanostring, Editas, Intellia amd Muse Bio.
Jim Tananbaum is the co-founder of Geltex Pharmaceuticals. The company is known for manufacturing two drugs at a lesser cost. It was later sold for $1.6 million. In addition, Jim co-founded Prospect Venture Partners II and III, and Theravance. The shrewd investor holds an M.D. and MBA from Harvard University and a BS and BSEE from Yale. He is also an alumnus of the Massachusetts Institute of Technology (MIT) where he earned his master’s degree. Recently, Jim was named on Forbes’ Midas List of Top Tech Investors. The program seeks to honor top 100 venture capitalists that make exceptional investments in the leading tech companies of the next generation. The Midas list also recognizes the leaders who create impressive value for their investors.