Mindstrong Health is a biotechnology startup that is creating a smartphone app which can both diagnose neuropsychiatric disorders as well as aid in their management. It recently held a Series-A funding round in which is secured $14 million reports patientdaily.com. The investors involved in this round included Foresite Capital, Optum Ventures, Berggruen Holdings, ARCH Venture Partners, and One Mind Brain Health Impact Fund.
Palu Dagum is the Founder and Chief Executive Officer of Mindstrong Health. He released a statement after the Series-A funding round stating that he wants to help people who have mental disorders which will require objective measurements just like that which is done for physical diseases like high blood pressure and diabetes. His company’s technology will deliver the app’s users with a continuous and objective measure of their cognition and behavior which hasn’t been possible before. The app can track the user’s attention, memory, processing speed, and executive function.
The CEO and Managing Director of Foresite Capital, Jim Tananbaum, also released a statement in which he said that Mindstrong Health’s team is particularly suited for helping people with cognitive health disorders which is why he invested in them.
Jim Tananbaum has been a longtime investor in startup health care companies. According to InsiderMonkey.com, he has taken the lead on more than 22 successful investments in companies in this industry including Amerigroup, Jazz Pharmaceuticals, and Amira Pharmaceuticals. He specializes in late-stage products as well as services in this important industry.
According to drewaltizer.com, it was in 1991 that Jim Tananbaum first entered the healthcare field when he co-founded GelTex. He was the CEO of this company which created non-systemic drugs until they successfully sold the company to Genzyme in 1997 for $1.6 billion. He first became an investor in other companies in the health care industry in 1993 when he became a partner at Sierra Ventures.
Jim Tananbaum has a very impressive educational background. He earned his BS and BSEE in Math and Computer Science from Yale University. The then attended MIT, earning a Masters in Information Theory, and Harvard Medical School where he earned his MD. In 1991 he graduated from Harvard Business School with an MBA.