SAN FRANCISCO--(BUSINESS WIRE)--Osmind, the public benefit corporation helping clinicians and researchers advance new life-saving mental health treatments, today announced a $40 million Series B investment led by DFJ Growth. The Series B round brings the total amount of funding for Osmind to $57 million since the company’s founding in 2020. Justin Kao, partner at DFJ Growth, and the co-founder of Helix, will join the Osmind Board of Directors.
In addition to DFJ Growth, the round includes new investors Susa Ventures, Lachy Groom, Brent Saunders (former CEO and chairman of Allergan and current Osmind board member), Helena Goodman and Ariel Katz (CEO of H1 Insights), and existing investors General Catalyst, Future Ventures, Tiger Global, and Pear VC.
Osmind helps the medical community administer, track, and study the efficacy of interventions such as ketamine, SPRAVATO®, and transcranial magnetic stimulation for the 14 million U.S. patients living with moderate and serious mental illness. Osmind is applying its funding to continue to develop and scale its market-leading electronic health record (EHR) technology for breakthrough mental health research and treatment, advance research with new partners, and double the size of the team virtually and at the company’s San Francisco office.
“We are at a powerful tipping point in the development of new psychiatric interventions, similar to the precision oncology transformation over the past 20 years,” said Lucia Huang, CEO and co-founder of Osmind. “Mental health clinicians are at the forefront of this transformation and are absolutely critical advocates and scientists for their patients.”
In a significant research milestone earlier this year, Osmind worked with Stanford University School of Medicine physician-scientists to publish the largest real-world data study on ketamine infusion therapy in the Journal of Affective Disorders. The analysis found that ketamine was a rapid, effective, and durable treatment for depression and that over 70% of patients with suicidal ideation at baseline experienced an overall improvement. Findings like these provide real-world evidence for increasing accessibility to innovative mental health treatments, a core part of the company’s mission as a public benefit corporation.
“The renaissance happening in psychiatric treatment today is astounding,” said Kao. “To see neurology, pharmacology, and physiology all advancing at the same time gives me great hope that we’re at the start of a major transformation for psychiatric conditions that are some of the most deadly and disabling in the world. Osmind supplies powerful technology that’s purpose-built for this acceleration of life-saving interventions, by supporting clinicians treating these patients and the researchers who need high-quality, longitudinal, real-world evidence to develop new therapies.”
The Osmind EHR platform is designed for the needs of mental health clinicians, including psychiatrists and other specialties, with tools such as streamlined charting workflows, secure patient engagement, and automated outcomes tracking. Clinicians are also part of the Osmind research program, which works with leading scientists to conduct clinical trials and analyze anonymized, aggregated real-world information to advance new diagnostics, therapeutics, and precision medicine approaches.
“Osmind supports clinicians treating patients with serious and refractory mental health conditions, including severe depression, suicidality, PTSD, substance use disorders, anxiety, OCD, and more,” said Jimmy Qian, co-founder and COO of Osmind. “By enabling the serious innovation being led by interventional mental health practices, we are doing our part to help researchers expand better, safer, more effective treatments for patients who need it most.”
To learn more about how Osmind is working to help solve the worldwide mental health crisis, advance responsible innovation and research, and remain committed to the public good, please see the Osmind 2022 Public Benefit Corporation Report.
Osmind is a San Francisco–based public benefit corporation led by scientists, technologists, and psychiatrists to advance new evidence-generating medicine that helps people living with moderate to severe mental health conditions. For more information, please visit osmind.org.