Mindstrong Health is a startup in the mobile technology industry. They have an app which helps both diagnose and treat neuropsychiatric disorders. The app as explained by pelotontherapeutics.com is able to determine from how the patient scrolls and types on their smartphone what their brain function levels are including in areas such as memory, executive functionality, and processing speed.
As an early stage startup, Mindstrong Health just completed its Series-A funding round. They raised $14 million from three investors including Optum Ventures, Foresite Capital, and ARCH Venture Partners, reports endpts.com. The CEO and managing director of Foresite Capital, Jim Tananbaum, released a statement after his company’s investment in Mindstrong Health indicating that he has a lot of faith in the management team at the company and how to best treat those who are suffering from cognitive health disorders.
According to BusinessWire, as the top executive at Foresite Capital Management, Jim Tananbaum has years of experience in the biotechnology industry. He invests in companies that are in the healthcare field including those who provide services and medical devices. He also invests in promising companies in the areas of genomics, diagnostics, and biotechnology. His company maintains offices in the San Francisco Bay Area, Philidelphia, and New York City.
It was in 2010 that Jim Tananbaum founded Foresite Capital Management. Prior to this, he had co-founded another company focused on investing in the healthcare industry, Prospect Venture Partners. In the mid-1990’s he was a partner at Sierra Ventures which also specialized in the healthcare industry. Jim led a number of investments including those into CareSelect, Novamed, Amerigroup, and Healtheon.
It was at GelTex where Jim Tananbaum got his start in the industry in January of 1991. He co-founded this company, which created non-systemic drugs, and was its CEO. Two of the products he helped create while at GelTex was Cholestagel and Renzela.
As a very successful investor, Jim Tananbaum was named by Forbes magazine as one of their top 100 Best Venture Investors in 2017, see his about.me page. This was the third year in a row that he landed on this list. The list honors those who make early investing bets on tech company leaders.