Mindstrong Health announced that it had completed its Series A round of financing a month ago. The neurological startup had raised $14 million that would finance the development of its diagnosis and treatment platform. Dr. Tom Insel is the president and co-founder of Mindstrong Health. He said that he was excited about the potential of the technology and how it could be used. Jim was impressed that they could come up with measures of cognitive function by observing an individual’s scrolling and typing patterns. Dr. Insel noted that this could be considered a foundation in the move to develop interventions that would improve mental health care. Mental disorders affect people on a global scale. Smartphones were the perfect solution. This is because they have the potential to be adopted globally.
The financing round was led by ARCH Venture Partners and Foresite Capital. Other firms that were involved include Berggruen Holdings, the One Mind Brain Health Impact Fund, and Optum Ventures. Jim Tananbaum is the CEO of Foresite Capital. He made some remarks about Mindstrong and the team. He said that the founding team had shown that it was capable of understanding the challenges that the medical community faces regarding caring for patients with cognitive health disorders. The founders of the company were a perfect blend. They had backgrounds in medicine and business. Tananbaum said that this allowed them to come up with an innovative and modern platform that would change how medical care is provided. Dr. Paul Dagum is the CEO of Mindstrong Health. He stressed that tracking medical health was limited because it was done in a clinical environment. Visit Ideamensch to know more.
Jim Tananbaum is the founder of Foresite Capital Management. This is a venture capital firm that focuses on healthcare companies. Tananbaum is a scholar at heart. He has degrees from the Yale, Harvard, and the M.I.T. Jim has been involved with various programs at the universities where he studied. The programs include serving on the advisory board of the Yale School of Engineering. He has led investments in successful companies in the healthcare sector. The companies include Amerigroup, Jazz Pharmaceuticals, and Amira Pharmaceuticals. He was named to the Forbes Midas List for the third consecutive year this year. Visit the Foresite Capital Facebook page.