Mindstrong Health Announces $15M Series B Round Financing and Business Update

— Round includes new investor Bezos Expeditions and Decheng Capital
with Series A investors Optum Ventures, ARCH Venture Partners and
Foresite Capital —

— B round marks active year of partnerships, growth and development

PALO ALTO, Calif.–(BUSINESS WIRE)–Mindstrong Health, a healthcare company dedicated to transforming brain
health through measurement science, announced today that it has secured
a B round financing of $15 million from a syndicate of leading investors
and healthcare innovators.

“We appreciate the continued support of our early investors and we
welcome Bezos Expeditions and Decheng Capital in our journey to
transform brain healthcare. As the first company to develop
comprehensive care pathways based on our passively-collected, continuous
and objective measures of cognitive function and mood, we are committed
to improving behavioral healthcare with delivery models that move care
from episodic clinic visits to preemptive outreach care that is
technology enabled,” said Founder and CEO Paul Dagum.

“Mindstrong continues to show great progress in deploying solutions that
improve behavioral healthcare by enabling providers to detect
deterioration and deliver effective care early. We expect this to
improve access and quality for patients, and reduce expenditures related
to healthcare utilization,” said Larry Renfro, vice chairman of
UnitedHealth Group and CEO of Optum.

The company announced a Series A financing of $14 million in June of
2017. With today’s announcement, Mindstrong Health has raised a total of
$29 million. It will use the proceeds to scale the business and advance
commercial deployments with its partners across healthcare verticals,
building upon progress made since the Series A.

This year, the company announced a partnership with Takeda
Pharmaceutical Company Limited to apply Mindstrong’s technology to
identify digital biomarkers in schizophrenia and treatment-resistant
depression. Mindstrong is also partnered with Blackthorn Therapeutics.
Furthermore, the company published a study in NPJ Digital Medicine
showing that Mindstrong technology predicted individuals’ performance on
gold-standard neurocognitive tests used by clinicians to measure and
manage brain health and disorders. It continues to advance clinical and
translational research across brain health conditions on a global scale.

Mindstrong was founded by Paul Dagum, MD, PhD, Tom Insel, MD, and Rick
Klausner, MD. Dr. Dagum is a successful entrepreneur, physician, and
computer scientist who developed and patented the first-ever digital
measures of central nervous system function based on human-computer
interaction patterns. Dr. Insel served as Director of the National
Institute of Mental Health from 2002 to 2015, and Dr. Klausner was
Senior Vice President and Chief Medical Officer of Illumina and Director
of the National Cancer Institute from 1995 to 2001.

Mindstrong is partnered with leading organizations committed to
advancing medical innovation and improving healthcare delivery for
patients, including pharmaceutical companies, large payers and
providers, large employers, and state and county governments, in
addition to top-tier academic institutions for clinical research.
Mindstrong’s solutions include a patient-facing app, a provider-facing
product, and clinical services that leverage its telehealth enabled
measurement science and engagement platform.

About Mindstrong Health

Mindstrong Health is a healthcare company dedicated to transforming
brain health through measurement science. By measuring brain function
passively and continuously through individuals’ interactions with
smartphones, Mindstrong’s platform helps individuals and health care
providers detect brain health deterioration early and deliver preemptive
care. With early detection and preemptive intervention, Mindstrong
Health reduces unnecessary healthcare utilization and provides better
care and outcomes. The company is based in Palo Alto, California, and is
backed by ARCH Venture Partners, Berggruen Holdings, Bezos Expeditions,
Decheng Capital, Foresite Capital, and One Mind Brain Health Impact
Fund. To learn more, visit www.mindstronghealth.com.

Contacts

Mindstrong Health
Morgan Warners, 202-337-0808
mwarners@gpg.com
Or
Ashley
Adams, 202-337-0808
aadams@gpg.com