Navigation Links
Rhythm Expands Series B Financing to $33 Million; Adds Pfizer Ventures as an Investor
Date:11/27/2012

BOSTON, Nov. 27, 2012 /PRNewswire/ -- Rhythm announced today that the company has raised an additional $8 million to complete a $33 million Series B financing. The additional $8 million comes from new investor, Pfizer Venture Investments, the venture capital arm of Pfizer. Pfizer joins existing investors MPM Capital, New Enterprise Associates, Third Rock Ventures, and Ipsen, which all participated in a first closing of the Series B financing earlier this year.

Rhythm will use the proceeds to further develop its small-peptide therapeutics for metabolic diseases. RM-131 is a ghrelin agonist currently in Phase 2 clinical trials for diabetic gastroparesis and GI functional disorders. RM-493 is a melanocortin 4 receptor (MC4R) agonist that is completing Phase 1 clinical trials for the treatment of obesity and diabetes. This additional financing brings the total capital raised by Rhythm to $73 million.

"We are excited to have the support of Pfizer Ventures as we advance both metabolic programs through Phase 2 trials," said Bart Henderson, Co-Founder and President of Rhythm. "The Pfizer team has deep commercial and development experience that we intend to leverage as we expand the clinical trial program for these two important new therapeutics."

"The obesity and diabetes epidemics represent one of the largest medical challenges confronting society today," said Dr. Barbara Dalton, Vice President Venture Capital, Pfizer Venture Investments. "Rhythm's metabolic programs are compelling because of the initial proof-of-concept data from ongoing clinical programs, along with the fact that peptide therapeutics have delivered high success rates in clinical development. We are pleased to help Rhythm capitalize on its opportunities."

About Pfizer Venture Investments
Pfizer Venture Investments (PVI), the venture capital arm of Pfizer Inc., was founded in 2004 and invests for return in areas of current or future strategic interest to Pfizer. As part of the Worldwide Business Development division, PVI seeks to remain at the forefront of life science advances, looking to identify and invest in emerging companies that are developing compounds and technologies that have the potential to enhance Pfizer's pipeline and shape the future of our industry. For more information, please visit www.pfizerventureinvestments.com 

About Rhythm (www.rhythmtx.com)
Rhythm is a biotechnology company developing peptide therapeutics that address unmet needs in metabolic diseases. Rhythm is developing the ghrelin peptide agonist, RM-131, for the treatment of diabetic gastroparesis and other GI functional disorders, and the MC4R peptide agonist, RM-493, for obesity and diabetes. Rhythm investors include MPM Capital, New Enterprise Associates, Third Rock Ventures, Ipsen, and Pfizer Venture Investments. The company is based in Boston, Massachusetts.

Contact:
Bart Henderson
President
(857) 264-4281
bhenderson@rhythmtx.com


'/>"/>
SOURCE Rhythm
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Rhythm Names Lex Van der Ploeg Chief Scientific Officer
2. Rap music powers rhythmic action of medical sensor
3. Rhythm Announces Phase 1b Results for Ghrelin Prokinetic RM-131 for Diabetic Gastroparesis
4. Rhythmic firing of nerve cells involved in bodys movements
5. Rhythm Raises $25M in Series B Financing for Diabetes and Obesity Therapeutics
6. UV Flu Technologies Expands Its International Footprint
7. Nabsys Expands Leadership Team to Prepare for Commercialization of Novel DNA Positional Sequencing Technology
8. Ansell Limited Expands Korean Presence
9. Premier Research Expands Salt Lake City and Phoenix Testing Facilities Adding 50% Capacity
10. Groundbreaking National Program to Reverse Obesity Expands to 50 Locations
11. Good Start Genetics Announces $14M Series B Financing, Expands Senior Management Team
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... ... February 09, 2016 , ... The publishing industry has been ... is one of the popular publication models that has received wider acknowledgement from ... 3000+ International Conferences across the globe, OMICS International is all set ...
(Date:2/9/2016)... NEW YORK , Feb. 9, 2016 ... market analyzes the current and future prospects of the ... of this report include companies engaged in the manufacture ... comprises an executive summary with a market snapshot providing ... the scope of this report. This section also provides ...
(Date:2/9/2016)... -- BERG, a biopharmaceutical company uncovering health solutions ... the appointment of Jason Haddock as ... brings to BERG over 20 years of experience ... financial functions at pharmaceutical companies, as well as ... Niven R. Narain , BERG,s Chief ...
(Date:2/8/2016)... Feb. 8, 2016 Should antibiotic bone cement ... products to prevent infection after standard total hip or ... at ECRI Institute have been fielding a lot lately. ... Your Bottom Line?" --> "Antibiotic ... --> While there isn,t a ...
Breaking Biology Technology:
(Date:1/20/2016)... 2016  Synaptics Incorporated (NASDAQ: SYNA ), ... announced sampling of S1423, its newest ClearPad ® ... screen applications including smartwatches, fitness trackers, and touch ... rectangular shapes, as well as thick and curved ... on screen, while wearing gloves, and supports swipes ...
(Date:1/13/2016)... DUBLIN , January 13, 2016 ... has announced the addition of the  ... - Estimation & Forecast (2015-2020)" ... http://www.researchandmarkets.com/research/7h6hnn/india_biometrics ) has announced the ... & Identification Market - Estimation & ...
(Date:1/8/2016)... -- NXTD ), a company focused on ... privately held leading direct seller of vacation and entertainment ... company announced that on December 31, 2015, that WorldVentures ... to develop a proprietary new wireless smart card for ... unique smart wallet that serves to securely store all ...
Breaking Biology News(10 mins):