Mindstrong Health recently announced that they have managed to raise $14 million dollars in a Series round of financing that aims at supporting its neuropsychiatric treatment & diagnosis platform. In a report by Patient Daily, the Series A funding was investors that include the Foresite Capital, Optum Ventures, One Mind Brain Health Impact Fund, and Optum ventures.
The mindstrong platform focuses on providing constant digital biomarkers of mood and cognition. Other digital biomarkers measured by the platform include processing speed, memory, attention, and execution function. The Al-powered platform is designed to keep an eye on patterns of interaction on smartphone devices so as to measure the brain function objectively.
While making his statement, Paul Dagum, the company’s CEO noted that most of the modern medicine focuses on objective measurement. However, tracking of mental health has only been limited to individual reports that are conducted in a clinical environment.
Paul Dagum noted that to improve the outcomes for persons with mental disorders, there is the need to carry out objective measures like it is done for other chronic diseases such as the heart disease and diabetes. Mindstrong noted that the results from the clinical trials would be released in the coming months to support the program.
Jim Tananbaum, the Foresite Capital CEO pointed out that Mindstrong Health’s founding team has a unique understanding of the important challenges facing patients suffering from cognitive health disorders. By fusing the company’s top leadership that includes Paul, Rick, and Tom, who have immense experience and unmatched leadership skills, Mind Health will continue to produce innovative ideas to continue helping patients suffering from cognitive disorders.
Mindstrong Health developed a smartphone platform that utilizes patient’s patterns of typing and scrolling on a device or via Google search engine to measure their brain function. The platform then measures different mood and cognition biomarkers in a patient.
About Jim Tananbaum
Jim Tananbaum (officialjimtananbaum.com) is the founder and the CEO of Foresite Capital. Jim founded Foresite Capital in 2011 as a healthcare-focused private equity firm that specializes in identifying emerging healthcare leaders while helping them to grow profitably by supplying capital, information, and networks. Before he founded Foresite Capital, Dr. Tananbaum co-founded two leading biopharmaceutical firms and other two investment practices.
Check out Foresite Capital’s Linked In page for more info.