Mindstrong Health is a startup that is highly focused on using smartphones to not only diagnose but also help in the treatment of neurological disorders. Recently, the company announced the securing of a whopping $14 million in Series A round of funding. The round drew the support of various investors including One Mind Brain Health Impact Fund, Optum Ventures, ARCH Venture Partners and Foresite Capital. For more details visit Bloomberg.
The Series A round of financing was carried out in a bid to support Mindstrong’s neurological diagnosis and treatment platform. The AI-powered platform utilizes a patient’s patterns of both scrolling and typing on a smartphone device to measure the brain function. As a result, the platform offers information about both cognition and mood biomarkers such as memory processing speed and function.
Jim Tananbaum of Foresite Capital cited that Mindstrong Health’s founders boast of an unparalleled level of understanding of the key challenges facing the way the medical community offers care to patients suffering from cognitive health issues. Jim added that the combined technical vision, leadership and experience of Tom, Rick and Paul would provide the medical community a groundbreaking platform that significantly improves the manner by which care is given. Check out Patiently Daily for the details.
Jim Tananbaum, founder and CEO of Foresite Capital, is a reputable figure in the pharmaceutical industry with an unmatched level of experience. In fact, he has been in the industry for more than 25 years. As the chief executive officer of Foresite Capital, Jim has played a significant role in the success of the company. Foresite Capital is one of the leading firms that offers growth capital to upcoming healthcare leaders with disruptive services and products that cut across all healthcare sectors in both public and private markets. Visit LinkedIn to know more.
Prior to founding Foresite Capital, Jim co-established two biopharmaceutical companies and two healthcare investment practices. Just before he completed his studies at Harvard Medical School, he established GelTex Pharmaceuticals, which is known for bringing two drugs to the market at the cost of less than $80 million. Currently, the drugs are known to generate about $1 billion in revenue. As an investor, Jim Tananbaum is acknowledged for being one of the founding partners of Prospect Venture Partners II and III.
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