Jim Tananbaum Acknowledges the Role Played by Mindstrong Health in Diagnosing and Treating Patients Suffering from Cognitive Health Disorders
Recently, Mindstrong Health revealed that it had secured $14 million in a Series-A round of funding. Mindstrong Health is a startup geared towards utilizing smartphones to diagnose and help treat neuropsychiatric disorders. The round of financing drew numerous investors including One Mind Brain Health Impact Fund, Foresite Capital, Berggruen Holdings and Optum Ventures. Both ARCH Venture Partners and Jim Tananbaum’s Foresite Capital Management led the funding.
Mindstrong boasts of a platform that utilizes a patient’s patterns of typing and scrolling on a smartphone to measure his or her brain function. In turn, the platform offers information regarding the cognition and mood biomarkers, which include function, memory and processing speed.
Jim Tananbaum cited in the release that Mindstrong Health’s founding team provides a unique understanding of the fundamental problems surrounding the manner by which the medical community deals with patients of cognitive health disorders. Paul Dagum, the founder and CEO of Mindstrong, also emphasized the need for objective measures that are synonymous to those used for other chronic diseases like heart disease in a bid to boost outcomes for individuals suffering from mental disorders. Visit Ideamensch to know more.
According to INC42, Jim Tananbaum serves as the founder and CEO of Foresite Capital, which has about $1.1 billion in AUM. Foresite Capital Management integrates the excellent practices of growth investing with specialization in healthcare. Jim has continuously steered the company into investing in companies with late-stage, disruptive services and products in various sectors of healthcare like diagnostics, medical devices, genomics, biotechnology and healthcare services. Away from Foresite Capital, he is acknowledged for leading investments in 21 healthcare companies including Jazz Pharmaceuticals and Amerigroup.
Jim is well-known for many accomplishments in the pharmaceutical industry including introducing two drugs into the market for less than $80 million under his company, GelTex Pharmaceuticals. Currently, the drugs rake in $1 billion in revenue. GelTex was bought for a whopping $1.6 billion. Jim is also the brains behind the inception of Theravance Inc. Aside from business, he is a well-educated business executive. Jim Tananbaum has an MD from Harvard Medical School, an MS from MIT, an MBA from Harvard Business School, as well as a BSEE and BS from Yale University.