The tech industry has been advancing at a remarkable rate influencing notable changes in every sector of development. On this trend, the healthcare industry has not been left behind. A few weeks ago, Mindstrong announced that it had raised $14 million to support its neuropsychiatric treatment diagnosis platform, (http://www.massdevice.com/neuropsych-treatment-diagnosis-platform-dev-mindstrong-health-raises-14m-series/). The initiative was monitored by Foresite Capital in collaboration with ARCH Ventures. However, later, Optum Ventures, One Mind Brain Impact Fund, and Berggruen Holdings joined the platform.
Thanks to technology advancements as with the anticipated innovation, a user can easily measure the brain functioning by monitoring patterns of interaction using his/her smartphone. What took many by surprise is the fact that the innovation relies on a user’s smartphone usage to measure his/her brain functionality. By digging shallowly over the internet, you will understand that mental health disorders are rising as a global problem. However, with the awaited tech, an improvement will be felt significantly in the mental health care.
According to Foresite’s CEO, Jim Tananbaum, Mindstrong project brings together the minds of great members in the society with a rich understanding of the challenges affecting the medical care, particularly in the mental health sector. With notable figures such as Paul, Rick and Paul on board, the anticipated project is expected to improve the health care industry.
According to Mindstrong’s CEO, the mental health disorders lacked a reliable way to measure and track the condition. Therefore, the innovation was entirely focused on seeking a way to measure the conditions as in other chronic diseases such as diabetes. Over and over again, Mindstrong has been acknowledged for its consistency in delivering the impossible.
About Jim Tananbaum
Jim Tananbaum is a respected figure in the healthcare sector. The successful individual is the founder of renowned Foresite Capital where he serves as the CEO. The successful entrepreneur launched Foresite in 2011. Jim’s venture has earned a reputation as a lead private equity firm focused on helping healthcare leaders grow to profitability.
Jim’s history with start-ups has an in-depth history. Before founding Foresite, Jim was associated with other startups. Jim founded GelTex Pharmaceuticals which introduced two drugs into the market worth about $80 million before selling it in 1998 for $1.6 billion. Also, Jim co-founded Theravance where he served as the CEO. Jim earned his M.D from Yale and his M.B.A. from Harvard. Besides, the successful entrepreneur holds an M.S. from Massachusetts Institute of Technology. Check out his Crunchbase page for more information.