Jim Tananbaum’s Foresite Capital Joins Mindstrong Health in Changing Neuropsychiatric Diagnosis
The treatment of neuropsychiatric disorders has for a long time faced challenges due to lack of proper follow-up mechanisms. However, there is hope that this will soon be a problem of the past after Mindstrong Health succeeded in making smartphones a diagnosis tool. The firm is currently in the implementation phase of the project.
How Important the Technology is
In June this year, Mindstrong Health received a major boost in its implementation process after four investment companies raised over $14 million in support of the project. The four companies, ARCH Venture Partners, One Mind Brain Health Impact Fund, Optum Ventures, and Foresite Capital, generously took part in the firm’s Series-A round of funding. According to Jim Tananbaum, the CEO and director of Foresite Capital, the project would potentially change how patient care is done. He emphasized that Mindstrong Health has demonstrated that it understands, and has solutions to, the challenges being faced by patients suffering from cognitive health disorders.
CEO Paul Dagum Saud, who is also the founder of Mindstrong Health, said that objective treatment ought to be followed up with an equally accurate follow-up mechanisms. For him, his company has tackled only the tip of the ice bag- more has to be done. He noted that smart technology ought to be integrated into the diagnosis and treatment of some chronic diseases like cardiovascular diseases and diabetes. Assessing the behavior of patients from home will go a long way in accelerating their treatment processes.
How the Smartphone Technology Works
The premise is simple. When a patient suffering from neuropsychiatric disorders is given a smartphone, it is easy to monitor behavioral changes from the way she or he operates the device. The way one scroll or types on the phone can be used as a measure of an individual’s brain activity and content processing speed. The pattern of scrolling can also be used as a measure of how the patient’s mood changes.
About Jim Tananbaum
Career wise, Jim Tananbaum, has a good record besides founding Foresite Capital. He has worked at Sierra Ventures, Theravex, GelTex, and several others. Also see, https://www.linkedin.com/in/jim-tananbaum-a7562a7/.