Foresite was founded in 2011 by a renowned entrepreneur called Jim Tananbaum. The company identifies disorderly healthcare entities and helps them to grow to profitability by providing them with capital, resources, information, and networks. As the Founder and the CEO of the company, Tananbaum has helped transform Foresite to a universal powerhouse. Who is Jim Tananbaum? What makes him so successful? To say the least, Jim is an investor who focuses on healthcare and drug development. Check out his About.me page to know more.
After university, Jim co-founded GelTex Pharmaceutical, a company that brought the NASDAQ and the GENZ to the market. GelTex introduced Ranagel, the drug that produced more than $200 million in annual revenue. The massive success of Ranagel put GelTex on the map and led to its sale in 1998 for $1.6 billion. Jim later co-founded Theravance and served as its CEO. His career progressed quickly, and he went on to establish Foresite Capital.
According to Jim, the need to diversify investment and create numerous investment platforms triggered his idea for Foresite. He started Foresite Capital because he felt most healthcare companies failed due to lack of support. The establishment of Foresite Capital marked the beginning of Jim’s investment journey. To date, Foresite has invested in more than 21 healthcare companies including Amira Pharmaceuticals, Healtheon, and Amerigroup. Visit Medium to know more.
Jim has an M.D. and an MBA from Harvard. He also went to Massachusetts Institute of Technology for his M.S. For a long time, Jim has been passionate about Computer Science and advocated for its use in the health sector. He believes that one needs to have a mentor for to succeed in his or her field of interest. In respect to this, Jim has respectable mentors that include George Whitesides of Harvard and Roy Vagelos of Merck.
Jim continues to use his 25 years of experience to ensure his company thrives in the ever-competitive health service field. Fortunately, his triumphs and brainy healthcare investments have not gone unnoticed because he has featured on the Midas list for three consecutive years. With his keen eye for investment, firm education background, and excellent investment strategies, his next move remains unpredictable.