In A round to support neuropsychiatric treatment and diagnosis platform, Mindstrong Health managed to raise $14 million. The company’s focus is to provide “continuous digital biomarkers of mood cognition” which involves processing executive function, attention, speed and memory.
Foresite Capital was among the companies that led the round. According to Jim Tananbaum, CEO of Foresite Capital, he commented Mindstrong Health company for bringing together people who have different expertise to solve critical challenges that patients who suffer from cognitive health disorders can be cared for.
He says that bringing people together of different experience, technical vision and are determined to improve patients outcome, will assist in improving how care is given to this patients and also it will help the healthcare leaders to get more ideas for more innovation.
Jim Tananbaum is the founder of Foresite and he serves as its CEO. Jim came up with the idea of Foresite in 2011.It operated as a private equity company that specializes in healthcare leaders. It makes profit by supplying information, networks and capital to them. His vision was to merge different ideas of his career and try to make a novel investment platform. He has a passion of merging different ideas of interdisciplinary to come up with an innovative idea.
Jim studied at Yale University, pursuing a major in math and electrical engineering/Computer science. He was awarded M.D and M.B.A from Harvard University of the same course. He also studied at Massachusetts Institute of Technology where he did his M.S. He served in the advisory board of both Harvard and Yale University.
The success of his Foresite Capital can be attributed to the fact that Jim had previously co-founded two leading bio- pharmaceutical companies which include, GelTex which grew to produce almost $1 billion of revenue annually and Theravance ,Inc which also turned out to be successful.
Jim has been known to be a brilliant investor who led various investments in health sector, that includes, Jazz Pharmaceuticals, Healtheon NASDAQ, Amira Pharmaceuticals and Amerigroup NASDAQ.
With his intelligence in investment, he has led Foresite to invest in many health companies that deal with medical services, biopharmaceuticals, genomic sequencing and diagnostics.
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