Mindstrong health raised a whopping 14 million dollars in its first series round of financing to sustain its neuropsychiatric treatment and diagnosis platform. This platform will observe interaction patterns on smartphones and relate them to optimum brain function. The company seeks to offer continuous digital biomarkers of mood cognition that includes processing speed, attention, memory and executive functions.
Co-founder and President Dr. Tom Insel is excited that Mindstrong will be able to transform an individual’s pattern of typing of scrolling and directly relate it to cognitive function. This new approach is the beginning of better ways to intervene on mental health matters and since they are a global health concern.
Mindstrong Health’s founders offer the unrivalled perception of the challenges around how patients that suffer from cognitive health disorders are treated in the medical world. By combining Paul, Rick and Tom’s experiences, leadership and technical vision, an innovative platform will be gained to modernize and improve how care is provided to the patients, said Foresite CEO Jim Tananbaum in a prepared statement. The company stated that the first results from its clinical trials would be released in a month’s duration to support the platform. Visit Crunchbase to know more.
Mindstrong Health CEO Dr. Paul Dagum, in a press release, said that modern medicine is based on certain objectives and yet mental health has been limited to a clinical environment and limited reports. He also said that to improve mental health, they need the same measures put in place of illnesses like diabetes and cardiac diseases. He also added that Mindstrong’s technology delivers continued objective instruments on behavior and cognition at a level that has never been seen before.
PROFILE ON JIM TANANBAUM
Jim Tananbaum is the CEO and founder of Foresite Capital and has $ 1.1 billion in assets under his management. He has over 20 years’ experience investing and developing healthcare companies. Before starting Foresite Capital, he had two other top biopharmaceuticals, GelTex Pharmaceuticals while finishing Harvard Medical School and Therevance Incorporation and its spin-off Theravance Biopharma which he both sold. Jim has had several investments like Sierra Ventures, Amira Pharmaceuticals, Prospective Venture Partners II and II among others.
Jim Tananbaum graduated from Yale and was awarded a B.S and B.S.E.E. He also graduated from Harvard Medical Schools, M.S. From MIT and M.B.A from Harvard Business School. He has also served on several advisory and visiting committees.