Jim Tananbaum Invests in the Creation of Healthcare Entrepreneurs

Jim Tananbaum believes that the greatest business idea is the creation of entrepreneurs. He observes that there is a shortage of business-minded individuals to venture into producing life-changing products and services. As a result, he created Foresite Capital, a private equity company that specializes in supporting budding entrepreneurs in the health sector. The company provides capital, networks as well information to make these startups profitable. More details can be found on Ideamensch.

Jim Tananbaum has founded successful businesses in his career that span nearly three decades. Some of the firms he created include GelTex Pharmaceuticals and Theravance Biopharma. He led GelTex to develop two drugs at the cost of $80 million. The drugs currently generate over $1.2 billion annually. The market capitalization of the two companies is about $3.6 billion today. As an investor, he co-founded Prospect Venture Partners II and III as well as Sierra Ventures.

Jim Tananbaum’s objective for Foresite was to harness the future of health care by recognizing innovative healthcare solutions and products and investing in them. He understands that every great innovation requires a significant amount of capital and expertise which most young entrepreneurs lack. By providing these necessities, Jim trusts that they can help actualize revolutionary scientific discoveries in healthcare. Ever since its creation, Foresite has invested in more than 77 companies among which are 10X Genomics, Aimmune Pharmaceuticals, Intarcia Therapeutics and Aerie Pharmaceuticals.

In his line of duty, Tananbaum has learned that succeeding in business requires courage to develop concepts that are against the conventional way. He believes that innovation leads to disruption instead of convention. As an investor, he recommends a thorough analysis of any planned investment before venturing. However, he advises against being discouraged from investing by the fear of losing.

As an effective leader and mentor, Jim Tananbaum believes in synergy. He has learned to invest in people who can help him actualize his ideas. He believes that with complimenting partners, it is possible to be more productive. Consequently, Foresite recently added Molly He. Ph.D., to its executive team. Molly has over 15 years’ experience e in drug development and genomics. Jim trusts she will be invaluable as the firm expands and diversifies its portfolio.

Check out his website officialjimtananbaum.com

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See more: https://www.forbes.com/profile/jim-tananbaum/

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