Mindstrong Health, a device start-up that is neurological-focused, has raised $14 million during a Series A financing round in order to offer support to its diagnosis platform and neuropsychiatric treatment. The AI-powered platform of Mindstrong is designed in a way so as to monitor interaction patterns on Smartphone devices on the functions of the brain. The platform of the company is aimed at providing long-lasting mood and cognition digital biomarkers, which includes the processing of memory, speed, executive function and attention. Dr. Tom Insel, the President and co-founder of Mindstrong Health said that he is excited on how the platform can transform an individual’s patterns of scrolling or typing on a smart phone.
Tom Insel states that this new approach to assessment is the foundation for the development of better interventions in improving mental health care. He added that mental disorders have become global health concerns and that through Smartphones there is a possible global solution. ARCH Venture Partners and Foresite Capital were the leaders of this financing round and were also joined by One Mind Brain Health Impact Fund, Berggruen Holdings and the Optum Ventures. Jim Tananbaum who is the CEO at Foresite Capital said that founding team at Mindstrong Health brings outstanding knowledge about the critical challenges that surround the manner in which patients with cognitive health disorders are cared by the medical community. Visit LinkedIn to know more.
With more than 25 years of experience in healthcare entrepreneurial and investing, Jim Tananbaum is the CEO and Founder of Foresite Capital. He focuses his career on operational, financial and strategic opportunities in order to create franchise healthcare businesses. Jim Tananbaum has been able to play an important role in the many portfolio companies of Foresite Capital. He was a founding partner of 2 healthcare investment practices and 2 biopharmaceutical companies before he founded Foresite Capital. Jim Tananbaum studied at the Harvard Medical School where he got his MD, Yale University where he acquired a B.S.E.E and B.S and also at the Massachusetts Institute of Technology. He is the founding figure behind GelTex Pharmaceuticals, a company that introduced 2 powerful drugs to the market. Jim Tananbaum is a former member of Yale’s President Advisory Council.