Mindstrong Health recently announced that they were able to raised $14 million in order to finance their diagnosis platform and neuropsychiatric treatment. The platform is AI based and was created so that it could trace the patterns of smartphone devices and their interaction, and compare that to brain function. Mindstrong presents a potential transformation in the way a person is able to scroll or type on a smartphone–these functions could soon be channeled into detailed measures of cognitive function. This will promote an improvement in mental health care and also present a possibility to more accurately diagnose mental disorders.
Currently, mental healthy diagnosis is reliant on subjective reports that are taken in a clinical environment. Mindstrong could have a massive effect on the way mental health is viewed, diagnosed, and treated. They are able to provide an objective measurement tool so that soon, mental health will be diagnosed the same way diabetes and heart disease is. Mindstrong provides data that show everything from cognition biomarkers to your mood throughout the day. Since these measurement are taken throughout the day, the results will be more natural since currently many patients feel nervous in a clinical environment. This will be able to improve the outcome and lives for everyone who suffers from a mental illness.
Jim Tananbaum is the CEO and Managing Director of the Foresite Capital firm, which he founded in 2010. He went to Yale University where he earned a BS and BSEE, and then he went on to attend Harvard Medical School where he achieved his MD and Harvard Business School where he got his MBDA. He also went to MIT and got his MS. He lives in the San Francisco area and recently made an impressive deal with Intarcia Therapeutics. Jim Tnanbaum has garnered a lot of experienced during his 25 years in the business. He previously worked with Prospect Venture Partners II and III, as well as Sierra Ventures.
Jim is an experienced investor and has several investments, most notably with Amira Pharmaceuticals and Jazz Pharmaceuticals. Jim is very interested in the potential Mindstrong presents and he believes it could be beneficial not only to patients, but to doctors as well since it will be a money saving tool.
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