On June 15, 2017, Mindstrong health reported that $14 million dollars were raised in the series A round of support in financing its neuropsychiatric diagnosis and treatment platform. Mindstrong’s Al- powered platform is created to monitor interaction patterns on smartphone gadgets. The firm’s platform is aimed at provision of continuous digital biomarkers of cognition and mood which includes attention, memory, speed and executive function. The round was led by ARCH Venture and Foresite capital partners, and also was joined by Berggruen Holdings, Optum Ventures, and the One Mind Brain Health Impact fund that is according to Palo Alto which is a Calif-based company. Foresite capital partners headed by Jim Tananbaum were among the investors of Mindstrong health who contributed.
According to INC42, Jim Tananbaum is the founder and the CEO of Foresite Capital with $1.1 billion in assets value under management. Tananbaum has over 20 years’ experience in building and investing healthcare companies. Before establishing Foresite Capital, Tananbaum co-founded two established biopharmaceutical companies and other two healthcare investment practices. After finishing in the medical school of Harvard, he established GelTex Pharmaceuticals which brought into the market two drugs for less than $80 million, but today these medicines generate to him $1 billion in revenues. Later, GelTex was acquired at an amount of $1.6 billion. Check out Ideamensch to know more.
Jim also established and was the CEO of Theravance, Inc which with Theravance Biopharma, Inc adds up to market cap worth $2.75 billion. On the side of investment, Tananbaum was an establishing partner of Prospect Venture Partners III and II, and in his career earlier, Tananbaum was a Sierra Ventures partner where he assisted then in establishing the healthcare services investment practice. Jim has led various investments which include Amira Pharmaceuticals, Amigroup, Healthon and Jaz pharmaceuticals. Jim is a graduate of Yale with a B.S.S.E and a B.S, graduated from Harvard medical school with an M.D, M.B.A from the Harvard medical school and M.S from MIT.Jim has also been on the advisory board and visiting committees to the program of Harvard-MIT HST and the President Advisory Counsel of Yale.