NEW YORK & NEW HAVEN, Conn.--(BUSINESS WIRE)--NeuroNetworks Fund (NNF), a 501(c)(3) venture fund investing in innovative treatments for autism, epilepsy and schizophrenia, today announced a $300,000 seed financing for MindNest Health, a digital health start-up developing tools and training for families of a child with autism or other behavioral conditions. The funds, provided by NNF and Connecticut Innovations, will be released in tranches on achievement of milestones. Connecticut Innovations is the strategic venture capital arm for the state of Connecticut. These funds will allow MindNest to advance its digital parent-training program to beta testing.
MindNest was founded by David Grodberg, M.D., a Medical Director at the Yale Child Study Center, an internationally recognized center of innovation in child and family mental health.
MindNest Health is a digital health company whose mission is to increase access to high quality care for children with autism and other behavioral conditions. Studies show that early intervention for children with autism is critical, but receiving care from a top child behavioral health center requires proximity to one of these centers and often many months of waiting. This decreases the chances for the best outcomes for the children and increases stress for parents. The MindNest Health platform teaches parents skills and techniques typically only available from these top child behavioral health centers. The COVID-19 pandemic has resulted in an unprecedented interruption in access to health services for parents and their children; as a result, the need for digital health solutions has never been greater.
“We are grateful to NeuroNetworks Fund and to Yale University for the support and hard work leading to this financing. These funds will allow MindNest to advance this platform towards commercialization,” said Lauren Belliveau, CEO of MindNest Health. “MindNest was founded in New Haven and we plan to grow our company here, giving us access to both Yale University and New Haven’s burgeoning tech community.”
“We are grateful for the partnership and support of Connecticut Innovations and Yale’s Office of Cooperative Research in seeing the potential of MindNest Health,” said Sandra Panem, Ph.D., Founder and President of NeuroNetworks Fund. “We believe that this milestone validates the business model of NeuroNetworks Fund, where our goal is to leverage our team’s decades of healthcare investing experience to identify and fund promising, near term and practical solutions for people living with autism, epilepsy and schizophrenia.”
John Puziss, Ph.D., Director of Business Development at the Yale University Office of Cooperative Research (OCR), will take a seat on MindNest’s board.
“At Yale OCR, I have the privilege of working with many innovators each year, and I’m excited about MindNest’s approach to help children and families living with autism and other behavioral challenges. I look forward to working with MindNest in the future as a Board member,” Puziss explains.
About the Yale Office of Cooperative Research:
Since its founding in 1982, the Yale Office of Cooperative Research (OCR) has built a significant portfolio of inventions and patents and has grown into an engine of regional economic development. Its mission is to facilitate the translation of research from Yale’s labs into products and services that benefit society. OCR is recognized as a leading force for catalyzing economic growth by identifying, counseling and nurturing early-stage technologies and guiding the transition into robust companies.
More information is available at https://ocr.yale.edu
About NeuroNetworks Fund:
The Fund, a nonprofit 501(c) (3) melds venture capital and charitable giving under one umbrella, providing a continuous circle of investment in promising research in neuro-disorders. The Fund helps to fill the gap between government funding, which has grown scarcer in recent years and private capital that has become more risk adverse regarding drug development in the neurodisease sector. Under this model, the Fund will begin a major philanthropic fund-raising campaign and use the charitable donations to invest in entrepreneurial companies developing new drugs and diagnostics. All investment returns then will be recycled to allow to the Fund to continue its charitable mission and become self-sustaining.
More information is available at www.neuronetworksfund.org
