Recently, Mindstrong Health, a startup that uses new technology to enhance the treatment of neurological disorders, announced that it had secured $14 million in a series A round of funding. Foresite Capital, ARCH Venture Partners, Optum Ventures, One Mind Brain Health Impact Fund, and Berggruen Holdings played a pivotal role in facilitating the funding process.
Its artificial-intelligence powered platform seeks to monitor patterns of interaction on smartphone devices, thus be able to measure brain functions. The firm’s platform intends to offer constant digital biomarkers of mood and cognition.
According to Mindstrong, their technology includes processing speed, memory, attention, and executive function.
Paul Dagun, the CEO of Mindstrong Health, notes that the entire modern medicine is based on objective measurement. However, monitoring of mental health has been restricted to subjective reports in a clinical setting. To enhance the results of people with mental disorders, objective measure is needed just like in the cases of diabetes and other chronic diseases. The firm’s technology delivers continuous and objective measures of behavior and cognition at an unprecedented level of resolution and insight.
Mindstrong has created an innovative platform, which uses patient’s pattern of typing and scrolling on a smartphone to measure his or her brain function. The new assessment approach is powerful and serves as the basis for creating better inventions to enhance mental health care. Mental disorders are global health concerns. Mindstrong Health’s president and co-founder, Dr. Tom Insel, posits that through the use of smartphones, there is potential solution to the problem.
The company’s seeks to enable people to comprehend the serious challenges surrounding the way people suffering from cognitive health disorders are catered for. Paul, Tom, and Rick’s combined experience and technical vision offers an innovative platform for the company to develop innovative products and services. Jim Tananbaum, the CEO of Foresite Capital notes that the platform modernizes and broadly improves the way that health care is offered. Visit Crunchbase to know more.
About Jim Tananbaum
Jim Tanabaum is the brain behind the success of Foresite Capital. He graduated from Harvard University with an MD and holds an MBA from the revered Harvard Business School. In addition, Jim Tananbaum has a B.S. and B.S.E.E. from Yale University.
Jim Tananbaum has headed investment practices in different companies, including Amerigroup, Jazz Pharmaceuticals, and Amira Pharmaceuticals. Prior to working for Foresite Capital Management, Jim worked for GelTex Pharmaceuticals. Notably, he was named in Forbes’ Midas List 2017.