According to an interview conducted by Fink Densford on 16th June 2017, Mindstrong Health is raising funds to support neuropsychiatric diagnosis and treatment platform. Mindstrong Health has already secured $14 million from investors. All of this intervention was led by Foresite Capital, Berggruen Holdings, Optum Ventures and One Mind Brain Health Impact fund.
This platform is designed to use smartphone devices to measure brain functioning. The platform also aims to provide digital biomarkers that would process speed, memory, attention and executive function of the brain. The entire transformation of typing and scrolling a smartphone, just like using Facebook, and making it work cognitively is quite exciting. This is a new intervention which is a sign that great interventions of improving mental healthcare are yet to come. This could be used in solving global mental health care problems since mental illness is a global challenge.
According to Jim Tananbaum, the CEO of Foresite Capital, the use of smartphone technology in monitoring and measuring brain function will change the way in which medical community cares for those with mental disorders. Jim further posited that the platform came to modernize and improve the mental medical care. This innovation is an achievement in mental health in which tracking has been through reports of clinical environment as opposed to diabetes, heart disease and other chronic diseases.
About Jim Tananbaum
Jim Tananbaum is the Founder and CEO at Foresite Capital where he manages assets worth over $1.1 billion. His company is located in San Francisco Bay Area. Tananbaum has worked in medical technology and entrepreneurship for over 25 years. Before starting the Foresite Capital, Jim worked at Prospect Venture partners one and two and also in Sierra Ventures. Jim has co-founded biopharmaceuticals companies and healthcare investment practices.
Jim has had several investments some of which include: Amerigroup, Healtheon, Amira Pharmaceuticals and Jazz Pharmaceuticals. Jim holds a BS and B.S.E.E from Yale University. He also has an MD obtained from Harvard Medical School. Other degrees that he has is an MBA from Harvard School of Business and an MS from MIT. He is a board advisor at Peloton Therapeutics and also serving on advisory boards and visiting committees in Harvard-MIT HST Program.