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Mindstrong Health, A start-up that specializes in creating technological solutions in the medical field of Neurology has been able to secure $14 million in the first series of financing. The company was bidding for funds that will enable it to advance its neuropsychiatric diagnosis and therapy platform.
In today’s world, smartphones and the internet are powering various sectors of economies.
Mindstrong Health platform leverages the power of Artificial Intelligence and the handiness of smartphones to generate data on how people interact with smartphones against the measure of their brain function.
Mindstrong Health provides a new approach to the diagnosis and treatment of Neuropsychiatric problems. According to the Co-founder and President of the company, Dr. Tom Insel, Mindstrong transforms simple activities on a smartphone such as typing and scrolling into meaningful patterns that can be used to measure cognitive function. Mental disorders are a big problem that affects a large number of people, by the use of smartphones medical professionals will have an easier time in diagnosing and treating these conditions.
The first round of financing for Mindstrong was led by Foresite Capital together with ARCH Venture Partners. Other players who joined the two leading firms in rising funds included Optum Ventures, One Mind Brain Health Impact Fund, and Berggruen Holdings.
Foresite Capital the company that led the financing of Mindstrong Health is a firm that focuses on investing in start-ups in the medical field. Foresite Capital under the stewardship of Jim Tananbaum, a leader in the sector of venture capitalism. Jim holds the position of Chief Executive Officer and Managing Director at the company.
Dr. Jim Tananbaum boasts of over two decades’ experience in investment and entrepreneurship in healthcare. With his vast professional experience, Jim Tananbaum has succeeded in creating several healthcare franchise businesses across the globe. Some of Tananbaum’s notable projects in the medical world include GelTex Pharmaceuticals, a company that succeeded in bringing two drugs to the market. Jim is also the brainchild of Theravance, Inc. and Prospect Venture Partners II and III.
Dr. Jim Tananbaum’s objective in the business world has always been providing the financial muscle to emerging leaders in the field of medicine so as to achieve disruptive products in the healthcare sector. You can search him on Google to know more.
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