In a recent development in the healthcare industry, Mindstrong Health has announced that they have secured a financing of $14 million dollars to assist in the development of their neuropsychiatric treatment and diagnosis platform that they have developed. Some of the top investors include Bergguen Holdings, One Mind Brain Health Impact Fund, Foresite capital, Optum Ventures, besides others.
The founder and the CEO of Mindstrong Health, Dr. Paul Dagum, said that the main aim of the company was to improve the treatments for mental disorders through objective measures just like in chronic diseases. Mindstrong Health has patented their results of intensive clinical research performed over the last four years that reads the interactions done on a Google android or any smartphone and converted into objective measures. According to pelotontherapeutics.com, this new study is set to form a foundation for improving the treatments for mental disorders. The company is expected to share further details about their clinical trials and their results that will help them in delivering better and faster mental health care to patients globally.
Jim Tananbaum, the CEO and the MD of Foresite Capital, in an interview by Business Wire, said that he believes in the methods set by the competent Mindstrong Health’s team and by funding this initiative he is sure that this innovative platform will significantly improve the care provided to people with mental disorders.
Jim Tananbaum is the current CEO and the founder of Foresite Capital that he started back in 201. The company is a healthcare-focused funding companies that healthcare innovations and supply them with capital, networks and the information they need to succeed. Over the years, his company has invested in many successful health care companies and currently has an asset of $1.1 billion.
After graduating from Harvard Medical School, Jim Tananbaum started GelTex Pharmaceuticals that introduced two successful drugs at the cost of about $80 million. The drugs currently make about $1 billion in revenues each year, reveals insidermonkey.com. Jim Tananbaum also started Theravance that currently has a market value of $2.75 billion along with its partner Theravance Biopharma. He continues to invest in healthcare companies that are performing exceptional works and getting results that can transform the healthcare industry for the better.