{"id":55789,"date":"2023-04-13T15:07:19","date_gmt":"2023-04-13T13:07:19","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/red-cell-partners-announces-3-million-in-pre-seed-funding-for-psychedelic-company-tara-mind\/"},"modified":"2023-04-13T15:07:19","modified_gmt":"2023-04-13T13:07:19","slug":"red-cell-partners-announces-3-million-in-pre-seed-funding-for-psychedelic-company-tara-mind","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/red-cell-partners-announces-3-million-in-pre-seed-funding-for-psychedelic-company-tara-mind\/","title":{"rendered":"Red Cell Partners Announces $3 Million in Pre-Seed Funding for Psychedelic Company TARA Mind"},"content":{"rendered":"
\n

\nLaunching Out of Stealth, TARA Mind Will Tackle Health Equity Barriers That Have Traditionally Prevented Individuals Struggling With Mental Health From Accessing Safe, Effective Support<\/i><\/p>\n

<\/a>
<\/a><\/p>\n

TYSONS, Va.–(BUSINESS WIRE)–Red Cell Partners, an incubation firm building and investing in technology-led companies that bring revolutionary advancements to healthcare and national security, has announced $3 million in pre-seed funding for TARA Mind, a mental health company that enables safe and affordable access to psychedelic-assisted therapy (PAT).<\/p>\n

\nTARA Mind is emerging from stealth as more than 70 million Americans grapple with mental health conditions and suicide ranks as a leading cause of death in the United States. In spite of this \u2013 and more than $280 billion spent on mental health services in 2020 \u2013 more than 50% of individuals with a mental health condition did not receive any treatment last year. It has been decades since antidepressants entered the market, and while these drugs are effective for some, they are ineffectual for the nearly 1 in 3 individuals with Major Depressive Disorder (MDD) who suffer from treatment-resistant depression (TRD). The problem is a large and complicated one exacerbated by misaligned incentives, a global pandemic, and deep-rooted stigma surrounding psychedelics and other alternative therapies.<\/p>\n

\nThe infusion of capital will fuel the company\u2019s mission to address the systemic issues of accessibility and affordability, as well as mounting care quality and treatment efficacy hurdles. To achieve this, it is building an industry-leading network of vetted PAT providers across the US and abroad and is developing proprietary digital measurement-based care tools designed to ensure safety, optimize outcomes, and trigger early interventions when necessary. These tools will be exclusively available to its global provider network and will underpin the data-driven measurement framework that supports value-based reimbursement for PAT by both employers and payors. The company is also working with early-adopter employers to add the TARA Mind network as a supplemental benefit to existing health plans, thereby removing health equity barriers while driving ROI for the employer through significant reductions in employee medical costs, absenteeism, and turnover.<\/p>\n

\n\u201cFar too many people are being failed by our country\u2019s outdated approach to mental health care,\u201d said Red Cell CEO and TARA Mind Co-Founder, Grant Verstandig. \u201cBy expanding safe and equitable access to alternative psychedelic therapies, TARA Mind aims to meet this urgent societal need and shape the future of mental health care in America.\u201d<\/p>\n

\nTo further address issues of safety and efficacy, the company has codified The TARA Mind Way\u2122, a set of standards established in partnership with clinicians to guarantee the availability of wraparound services for clients. This clinician-guided process \u2013 collectively known as PTIM\u2122 \u2013 ensures that individuals who receive treatment through the TARA Mind Provider Network are receiving care that incorporates Preparation, Treatment, Integration, and Monitoring, the well-established hallmarks of effective and safe psychedelic treatment.<\/p>\n

\nThe Public Benefit Corporation is led by TARA Mind CEO and Co-Founder Marcus Capone, a veteran Navy SEAL who, following 13 years of active combat duty, returned home to face his own battle with post-traumatic stress disorder, traumatic brain injury, and depression. Capone spent years undergoing traditional mental health treatments but nothing worked. In 2017, he turned to PAT as a last resort. \u201cI know what it\u2019s like to feel as though you\u2019re out of options,\u201d said Capone. \u201cMy experience with psychedelic-assisted therapy changed my life. People need to know that even on their darkest days, there is hope.\u201d<\/p>\n

\nImmediately following his PAT treatment, Capone was overcome with the desire to share his experience with others in need. This determination to help people heal led him and his wife to found VETS\u00ae (Veterans Exploring Treatment Solutions), a pioneering 501(c)(3) organization on a mission to end veteran suicide. Inspired by the success of VETS and recognizing the need to expand access to PAT beyond the veteran community, the concept of TARA Mind took root.<\/p>\n

\n\u201cAfter millennia of ceremonial and individual use, there is growing appreciation for the potential of psychedelic medicine to treat even the most devastating of psychiatric and related conditions,\u201d said Capone, \u201cbut the industry is still in its infancy. At TARA Mind, we aren\u2019t being guided by \u2018the buzz\u2019 around psychedelics, nor are we chasing a quick profit from lingering loopholes in a post-COVID world. Rooted in our commitment to science and sound clinical practices, we are diligently building the scaffolding for the safe, affordable, long-lasting use of psychedelic-assisted therapy in America.\u201d<\/p>\n

\nIn service of this mission, TARA Mind has convened a roster of renowned medical advisors to help define, iterate, and advance the standard of care for PAT. They include Sandhya Prashad, MD, Founder and President of the American Society of Ketamine Physicians, Psychotherapists, and Practitioners; Jerry Rosenbaum, MD, Harvard Medical School\u2019s Stanley Cobb Professor of Psychiatry; Nolan Williams, MD, Stanford University School of Medicine Assistant Professor of Psychiatry and Behavioral Sciences; and Rachel Yehuda, PhD, an Endowed Professor of Psychiatry and Neuroscience of Trauma at the Icahn School of Medicine at Mount Sinai.<\/p>\n

\n\u201cI am optimistic that the nascent psychedelic industry will provide needed new tools for treatment, but there remain significant uncertainties about delivery, scalability, and access to quality care when that time comes,\u201d said Dr. Jerry Rosenbaum. \u201cTARA Mind is poised to address these challenges as it works to become a responsible and unifying voice that helps to establish clinician-informed standards of care for these emerging alternative therapies and to enable, above all else, the safe and equitable access to psychedelic medicine that so many in our country desperately need.\u201d<\/p>\n

\nAbout Red Cell Partners<\/b><\/p>\n

\nRed Cell Partners is an incubation firm building rapidly-scalable technology-led companies that are bringing revolutionary advancements to market in healthcare and national security. United by a shared sense of duty and deep belief in the power of innovation, Red Cell is developing powerful tools and solutions to address our Nation\u2019s most pressing problems. Learn more at redcellpartners.com<\/a> and follow us on social media (LinkedIn<\/a>, Instagram<\/a>, Twitter<\/a>,).<\/p>\n

\nAbout TARA Mind<\/b><\/p>\n

\nTARA Mind is Public Benefit Corporation founded in 2022 to expand safe, affordable, and effective access to psychedelic-assisted therapy (PAT). Rooted in science and sound clinical practice, the company has built a network of vetted providers across the US and abroad to deliver PAT and is equipping them with proprietary digital measurement-based care tools that underpin the data-driven framework that supports value-based reimbursements for PAT by both employers and payors. Learn more at www.taramind.com<\/a> and follow us on social media (LinkedIn<\/a>, Instagram<\/a>, Twitter<\/a>).<\/p>\n

Contacts<\/b> <\/p>\n

\nKatie Griff
\n
Chief Marketing Officer, Red Cell Partners
\n
Chief Operating Officer, TARA Mind
\n
press@redcellpartners.com<\/a><\/p>\n

\nRandy Woods
\n
Vice President, SBS Comms
\n
redcellpartners@sbscomms.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Launching Out of Stealth, TARA Mind Will Tackle Health Equity Barriers That Have Traditionally Prevented Individuals Struggling With Mental Health From Accessing Safe, Effective Support TYSONS, Va.–(BUSINESS WIRE)–Red Cell Partners, an incubation firm building and investing in technology-led companies that bring revolutionary advancements to healthcare and national security, has announced $3 million in pre-seed funding … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-55789","6":"format-standard","7":"category-industry"},"yoast_head":"\nRed Cell Partners Announces $3 Million in Pre-Seed Funding for Psychedelic Company TARA Mind - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/red-cell-partners-announces-3-million-in-pre-seed-funding-for-psychedelic-company-tara-mind\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Red Cell Partners Announces $3 Million in Pre-Seed Funding for Psychedelic Company TARA Mind - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Launching Out of Stealth, TARA Mind Will Tackle Health Equity Barriers That Have Traditionally Prevented Individuals Struggling With Mental Health From Accessing Safe, Effective Support TYSONS, Va.–(BUSINESS WIRE)–Red Cell Partners, an incubation firm building and investing in technology-led companies that bring revolutionary advancements to healthcare and national security, has announced $3 million in pre-seed funding ... 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