Appello Pharmaceuticals, Inc., a Nashville, Tenn.-based preclinical-stage company focused on advancing novel positive allosteric modulators of mGlu4 for the treatment of Parkinson’s disease, completed a $10.5m Series A financing.
The round was led by Deerfield Management and Mountain Group Partners. In conjunction with the funding, P. Jeffrey Conn, Ph.D., VCNDD Director and Lee E. Limbird Professor of Pharmacology, will join Appello’s Board of Directors.
The company intends to use the funds for the development of novel positive allosteric modulators (“PAMs”) of the metabotropic glutamate receptor subtype 4 (“mGlu4”) as an innovative new treatment for Parkinson’s disease.
Licensed to Appello from Vanderbilt University, these mGlu4-specific PAMs were developed at the Vanderbilt Center for Neuroscience Drug Discovery.
The company is led by Brian Laden, Ph.D., President and COO.