Company name: Appello Pharmaceuticals Inc.
Amount raised: Appello has raised a $13.5 million round of funding, according to a U.S. Securities and Exchange Commission filing made last month. The filing lists the raise’s first date of sale as Jan. 13. The company did not immediately respond to a request for comment.
What they do: Nashville-based Appello is a neurology therapeutics company focused on developing drugs for patients with disorders of the nervous system, according to the company’s website. Appello has a partnership with Vanderbilt University’s Warren Center for Neuroscience Drug Discovery, which is where the company’s drug development programs began.
Why it matters: While Nashville is rich in major health care services firms, including HCA Healthcare Inc. (NYSE: HCA) and Community Health Systems Inc. (NYSE: CYH), the city lags behind in biotech and pharma. The select club includes Harrow Health Inc. (Nasdaq: HROW), which moved its headquarters from San Diego to Nashville in 2019, and Cumberland Pharmaceuticals Inc. (Nasdaq: CPIX).
