Mindstrong Health, an organization that uses Smartphones to measure brain function, recently received $14 million from investors. Foresite Capital’s CEO, Jim Tananbaum noted that the founders of Mindstrong Health understand the difficulties that face medics treating patients with cognitive health disorders and explained that the funding would help them create an innovative platform for medics treating patients with cognitive disorders. They received the money for investors that include ARCH Venture Partners, Optum Ventures, and Foresite Capital.
How the platform works
Mindstrong’s technology analyzes patients’ cognitive functions by evaluating how they type and scroll their smartphones. According to Wired.com, the doctors then use this information to measure brain activity. The platform provides data on mood and brain activity biomarkers such as memory and function. It delivers the objective measures at a higher resolution and insight, making it easier for doctors to use measures such as those used for diseases like diabetes and cardio vascular diseases. Measurements for cognitive disorders were previously based on subjective studies carried out in clinical surroundings. According to Mindstrong’ s Health co-founder, Dr. Tom Insel, this assessment approach is only the beginning of development of better tools to be used in caring for mentally ill patients. Since smartphones are available globally, the platform can be used to treat patients everywhere.
About Jim Tananbaum
Jim Tananbaum (http://www.officialjimtananbaum.com/) has over two decades experience in investing and developing health companies. He is currently the CEO and Managing Director of Foresite Capital. After graduating from Harvard Medical School, Jim Tananbaum founded GelTex Pharmaceuticals. The company marketed two drugs that brought in around $80 million; the drugs currently make $1 billion. GelTex was sold at $1.6 billion.
Tananbaum also co-founded Prospect Venture Partners and Theravance where he was also CEO. Theravance and Theravance Inc. together generated $2.75 billion. He also served at Sierra Venture and headed other organizations including Amira Pharmaceuticals, Jazz Pharmaceuticals and Healtheon and Amerigroup (IPO).Tananbaum holds a B.S and a B.S.S.E from Yale University. He also has a medical degree and M.B.A from Harvard and a M.S from MIT. He served as a member of advisory boards and visiting committees at Harvard, MIT and Yale.