With the advancement in technology, modern medicine can now be measured objectively and tracked using modern technology. One of such companies which are doing so is Mindstrong Health, a start-up hi-tech health firm based in Alto Palo, California which uses smartphone technology in the diagnosis and treatment of neuropsychiatric disorders. In a recent report by Patient Daily, the company has received a series of A funding of $14 million from investors such as ARCH Venture Partners, Foresite Capital, One Mind Brain Health Fund and Optum Ventures.
According to Mindstrong Health founder and CEO, Paul Dagum, there is need to improve the outcomes of people with mental disorders by use of objective measures that are used in other chronic diseases such as heart disease and diabetes. In the same light, he says that Mindstrong’s technology is aimed at delivering continuous objective measurement of psychiatric behavior and reasoning.
In another remark by Mindstrong Health co-founder and President, Dr. Tom Insel during the funding, he said on drewaltizer.com that mental health is a global problem, but smartphones have provided a global solution to the same. The technology enables the measurement of an individual’s mental ability by typing and scrolling on a smartphone.
While making their remarks during the funding, Foresite Capital Managing Director and CEO, Jim Tananbaum praised the Mindstrong Health founding team for their unmatched understanding of the major challenges facing the way the medical community treats psychiatric patients. He continues to say that those who are focused on the improvement of patient outcomes are likely to gain innovative platforms which modernize and improve the manner in which care is given.
About Jim Tananbaum
Jim Tananbaum is a successful businessman who focuses on investing in start-up healthcare firms. He is the founder and CEO of Foresite Capital Management. Jim has also made successful investments in over 21 health companies such as Jazz Pharmaceuticals, Amira Pharmaceuticals, and Amerigroup. Jim is also the founder of GelTex Pharmaceuticals which was acquired by Genzyme at the cost of $1.6B. He is also the co-founder of companies such as Prospect Venture Partners, Theravance (THRX) and Sierra Ventures among many others, reveals InsiderMonkey.com.
Dr. Jim has an extensive education profile in different fields. He holds a Science degree in Math and Computer Science from Yale University and an MBA from Harvard Business School. Dr. Tananbaum also has an MD from Harvard Medical School and a Master of Science degree, Information Theory from Massachusetts Institute of Technology. Check out officialjimtananbaum.com for more info.