NewHavenBIZ

8 n e w h a v e n B I Z | M a y 2 0 2 1 | n e w h a v e n b i z . c o m S t a r t u p s , I n n o v a t i o n & T e c h n o l o g y H ealth care is one of the hottest sectors in the tech world. In fact, the medical technology and bioscience industries in Connecticut raised $492 million in venture funding last year, nearly five times more than any other industry, according to the PwC/CB Insights MoneyTree Report. New Haven bioscience company Rallybio recorded the largest fundraise in 2020 at $145 million. Meantime, several high-profile IPOs in the state are being led by medtech companies. Guilford's Butterfly Network, which makes a pocket-sized ultrasound machine, and Quantum-SI, which is developing a protein sequencing platform that promises to lead to better ways to diagnose and treat cancer and other diseases, went public earlier this year in deals valued at $1.45 billion and $1.5 billion, respectively. Healthcare technology a growing sector in Greater New Haven Top sectors for venture investment in CT (2020) Healthcare 19 23 $492M Rallybio ($145M) Internet 14 18 $102.6M Tomo Networks ($40M) Consumer Products & Services 2 2 $48.1M Starter ($30M) Software (non-internet/mobile) 4 4 $24.9M Diameter Health ($18M) Food & Beverages 3 3 $20.5M New Wave Foods ($18M) Sector Companies Deals Investments Top Deals Source: PwC/CB Insights MoneyTree Report In many ways Greater New Haven and southeastern Connecticut have become ground-zero for developing companies that birth new medicines and technologies that aim to improve care for patients, make the healthcare system more efficient or aid those with mental or behavioral health issues. In this issue we've profiled three local healthcare technology companies in various stages of development. ey demonstrate the breadth and depth of the region's ability to attract top entrepreneurial talent. – Greg Bordonaro, Editor D r. David Grodberg, medical director of the Yale Child Study Center and creator of digital health startup Mind- Nest Health, was amazed by all the advancements for behavioral learning, but wanted to solve the problem of barriers getting in the way of providing these inno- vations to children. According to Grodberg, parents are typically on long waitlists to get applied behavior analysis (ABA) services for their chil- dren, and when services are available, they are in-person between a provider and the child. "e parents aren't re- ally involved too much, learning the strategies that they can use all day long when they're with the child," Grodberg said. MindNest Health is a brand new technology to teach parents, grandparents and other caregivers to care for children with behavioral issues. Grodberg describes the digital parent-training program as "bite-sized" animated lessons that only take about 15 to 20 minutes per day. Once launched, the parents or caregivers will help the child perform each lesson provided. For example, Grodberg talks about a les- son on turn-taking. e child is taught how to take turns using a toy or playing a game in order to prompt social and communica- tion skills. At the end of the lesson, parents have the option to speak with a coach, who will look over the lesson and provide real-time feedback. Grodberg emphasizes this is not a replacement for ABA therapy, but another helpful tool. Tech firm MindNest Health gives parents tools to care for children's behavioral health issues By John Supowitz Investor interest MindNest Health uses the same behavior- al interventions that are practiced by experts at academic centers. Its technology can help with treating pediatric autism, tantrums, attention deficit hyperactivity disorder (ADHD) and anxiety, Grodberg said. According to the seven-employee compa- ny, early intervention is important for children with disorders such as autism and ADHD. Studies show kids should receive early in- tervention before reach- ing preschool while the brain is still forming, so they have a better chance to develop to their full potential. Lauren Belliveau, CEO of MindNest Health, said there is a significant need for the program. "ere is nothing out there focusing on the same amount of clinical expertise and effort to help the caregivers," she said. "e way the American Academy of Pediatrics looks at autism and other behavioral condi- tions in terms of the protocols, one of the critical steps is parent training. We know that the physicians con- sider parent training to be a critical component of these conditions and yet the tools out there are pretty archaic. ey're either photocopies of pamphlets that pediatricians hand out to parents or a book you get at Barnes & Noble, but there's nothing exclusively out there that is for the parents and caregivers." MindNest's technology has attract- ed investor interest. In April 2020, the company raised $300,000 in seed financing from the NeuroNetworks Fund and Connecticut Innovations, the state's quasi-public venture arm. Neuro- Networks is a venture fund that emphasizes investing in treatments to help with autism, epilepsy and schizophrenia. Previously MindNest received $30,000 from another CI bioscience investment program. With the seed financing, the company was able to take its prototype and make a scal- able platform that is HIPPA compliant and translatable into 78 languages, and create an artificial intelligence component to help coach parents and caregivers. People working in centers that teach ABA believe this technology could help them tremendously. "What we ask families to do is not always manageable," said Abigail Dunn, the clinical integrity officer for InBloom Autism Services, which has offices in Hamden and East Hartford. "So if there is something like this application for those families outside of our [therapy] time … I can definitely see the ben- efits for a learner to continue their learning." e initial launch of the platform will provide coaching for autism, ADHD, anxiety and tantrums. Grodberg said he believes the technology will be available for doctors to use as a training tool within the next month. In the future Grodberg wants to integrate the platform and use it to help children cope with the behavioral health aspect of diseases like diabetes and asthma, he said. n Dr. David Grodberg Lauren Belliveau At a glance Company: MindNest Health Industry: Healthcare technology Top Executives: Dr. David Grodberg, Founder; Lauren Belliveau, CEO HQ: New Haven A look at MindNest Health's app, which provides advice to parents who have kids with behavioral health issues.

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