According to Mindstrong Health’s statement, there is a need for investment in a digital Smartphone enabled biomarkers of mood and cognition device. The proposed device is to allow physicians to see the measures of a patient’s brain function through a Smartphone. The process includes; brain speed processing, attention, memory testing, and executive function of the brain. The startup has so far raised $ 14 million to support its plan on fighting the neuropsychiatric disorder. Mindstrong’s clinical trial opts to use a Smartphone to transform patterns of typing and scrolling into precise measures of cognitive functions. The company’s primary focus is to find a solution for improving the mental health care.
According to Dr. Tom Insel’s statement on businesswire.com together with Mindstrong Health co-founder, mental disorder has affected many people globally and is therefore, time to come up with a global solution of reducing it. Due to these reasons, various institutions have collaborated with Mindstrong Health Company in order to support in funding the platform. Among the few organizations that participated are; Forsite Capital, Arch Ventures Capital, Optum Ventures, and Berggruen Holdings. The founder members, however, challenged the medical community to further improve their level of caring for the mentally disabled. In order to achieve this, there must be a platform to update and immensely improve the patient’s outcome by enhancing their mental medical procedures. This, therefore, according to Forsite Capital’s C.E.O can only be achieved by bringing together Paul Rick and Mr. Toms collective experience and leadership skills.
The C.E.O and founder of forsite capital, Mr. Jim Tananbaum have invested widely in the health care sector. He has also participated in building various health companies. Mr. Jim’s experience in the healthcare field has enabled him to become one of the most recognized health specialists in the world. With an experience of more than 19 years, he has contributed widely to this field in many ways. For example, Jim Tananbaum previously founded Geltex Pharmaceutical Company that eventually introduced new drugs to the health market. Besides, he also co- founded various productive companies such as; Theravance, Inc, and Prospect Ventures 1&2.
Mr. Tananbaum holds a BS/BSEE degree that he attained from Yale University, after which, he joined Harvard University where he managed to earn an M.D and MBA. Later on, he graduated from Massachusett Institute of Technology with an M.S. Dr. Tananbaum has been ranked #52 in this year’s list of Forbes magazine, and as top 100 venture capitalist by the Midas Company. View his profile on Bloomberg.com to learn more.