Jim Tananbaum Demonstrates his Support towards Mindstrong Health for its Effort in Transforming Patient Care
Recently, Mindstrong Health, a startup geared towards the use of smartphones to conduct both diagnosis and treatment of neuropsychiatric issues, revealed that it had secured $14 million in its Series A financing. The round included various investors such as ARCH Venture Partners, Foresite Capital, One Mind Brain Health Impact Fund, Berggruen Holdings and Optum Ventures. Both ARCH Ventures and Foresite Capital led the round of funding.
According to Medium.com, the funds raised are intended to be used in supporting Mindstrong’s neuropsychiatric diagnosis and treatment platform. The AI-powered platform by Mindstrong monitors both typing and scrolling pattern when using a smartphone with the aim of measuring brain function. In turn, the platform relays back information regarding brain cognition and mood biomarkers, which comprise of function, memory and processing speed.
According toJim Tananbaum, Mindstrong’s founding team provide an unparalleled understanding of the core problems surrounding the way patients suffering from cognitive health are provided with care. As such, Tom, Rick and Paul have provided an innovative platform that significantly boosts the manner by which care is delivered.
Jim Tananbaum in Brief
Jim Tananbaum is the brains behind the inception of Foresite Capital Management, a private equity firm that offers growth capital to healthcare leaders with a mission of transforming patient care. With about $1.2 billion in AUM, Foresite Capital has a reputation for investing in companies that have disruptive services and products across the healthcare sector. Jim Tananbaum, the company’s chief executive officer and founder, boasts of an excess of two decades of experience in founding and investing in healthcare companies.
Before Jim Tananbaum founded Foresite Capital, he was involved in the co-founding of two healthcare investment firms and two top biopharmaceutical entities. In fact, he established GelTex Pharmaceuticals while completing his MD at the Harvard Medical School. Later on, GelTex was acquired for a whopping $1.6 billion. Apart from GelTex, Jim Tananbaum is known for founding other companies including Theravance, Inc., which together with Theravance Biopharma, Inc., its spin-off, enjoy an integrated market cap of $2.7.5 billion. Away from the healthcare sector, Jim has previously served as a founding partner of various companies including Prospect Venture Partners II and III and Sierra Ventures.
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