Foresite Capital is a venture capital firm that assists future healthcare leaders to access capital. The firm has an interest in supporting both private and public healthcare companies that provide disruptive products and services to the general public. Jim Tananbaum founded the firm in the year 2011. Its offices are based in San Francisco and New York City.
Mindstrong Health is a startup company aimed at using smartphone technology to assist patients that suffer from neuropsychiatric disorders. The company’s management announced that the firm had received a Series-A round of funding of $14 million from Foresite Capital, ARCH Venture Partners, Optum Ventures and One Mind Brain Health Impact Fund. According to the company’s management, the funds will be used to develop a neurological-focused device.
According to Mindstrong Health CEO, this device will allow doctors to measure mental disorder objectively. Before the invention of the neurological device, doctors relied on subjective reports to analyze the state of mentally-ill patients. This gadget will be in a position examine the behavior and cognition of persons at a level that has been achieved before in this particular field. Mindstrong has developed an application that will be able to analyze a patient’s brain function through the patient’s patterns of typing and scrolling. Jim has supported this new invention by Mindstrong Health.
Jim Tananbaum Career Journey
Jim is the founder and CEO of Foresite Capital. Jim is responsible for developing the company’s organizational structure and investment strategy. The company has a capital base of $1.1 billion in assets. He has been in the healthcare business for more than 25 years. During this time he has facilitated formation and growth of many healthcare franchises.
Before starting Foresite Capital, Jim Tananbaum had also helped in the founding of two biopharmaceutical companies and two healthcare investment companies. Upon finishing Harvard Medical School, Jim founded GelTex Pharmaceuticals. This company performed well since it was able to purchase two drugs in the market. Jim was also the founder and CEO of Theravance, Inc (NASDAQ: THRX). Jim is also credited for founding Prospect Venture Partners II and III. Tananbaum was also the partner at Sierra Ventures.
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