Neuropsychiatric disorders are health problems that have received little attention over the years compared to chronic ailments like diabetes, cancer, and heart disease. The tendency is about to change after a startup company, Mindstrong Health, raised funds worth $14 million in Series-A funding to help in the diagnosis and treatment of mental health disorders using smartphones. ARCH Venture and Foresite Capital Venture Partners led the drive with the support of Berggruen Holdings, One Mind Brain Health Impact Fund, and Optum Ventures. Modern medicine for mental health problems only focuses on making subjective reports, which is an aspect that has significantly hampered its effectiveness. Paul Daugm, the founder of Mindstrong Health, notes that people suffering from neuropsychiatric disorders need objective measures to improve outcomes. MindStrong Technology aims to provide uninterrupted objective measures of cognition and mood using advanced resolution devices- smartphones.
MindStrong’s platform has been designed to display the patterns of the brain function on a smartphone. The continuous digital biomarkers have an impressive high processing speed, memory, and an executive function. As such, a patient’s pattern of typing or scrolling is transformed into accurate measures of cognitive function through a smartphone. The technology will revolutionize the way the medical community takes care of patients suffering from neuropsychiatric disorders.
About Jim Tananbaum
Jim Tananbaum is the founder of Foresite Capital, an investment company worth $1.1 billion in assets. With 25 years of experience in healthcare, investments, and entrepreneurship, Jim is well-informed about making the most out of strategic, financial, and operational opportunities to develop franchised healthcare enterprises. Being the architect of Foresite Capital’s organization structure and investment strategies, he plays a major role in lots of Foresite’s companies. Before forming Foresite Capital, Tananbaum co-founded two biopharmaceutical companies- GelTex Pharmaceuticals (developed two drugs worth $1.6 billion) and Theravance Inc. Jim started off as a partner at Sierra Ventures where he set up its healthcare investment practice before leading other investments like Amira Pharmaceuticals, Jazz Pharmaceuticals, Healtheon, and Amerigroup. Jim Tananbaum graduated with a B.S. and B.S.E.E from Yale University, an M.D. from Havard Medical School, an M.S. from MIT, and an MBA from Harvard School of Business. The 2017 Midas list ranked Jim the top venture capital investor of 2017, a position he has clinched in 2016.