Navigation Links
Rhythm Raises $25M in Series B Financing for Diabetes and Obesity Therapeutics
Date:6/13/2012

BOSTON, June 13, 2012 /PRNewswire/ -- Rhythm announced today that it has raised $25 million in a Series B financing round. All existing investors participated in the round—MPM Capital (MPM), New Enterprise Associates (NEA), and Third Rock Ventures (TRV)—as well as new investor, Ipsen (Euronext: IPN; ADR: IPSEY). The Series B financing brings the total capital raised by Rhythm to $65 million.

Rhythm will use the proceeds to continue advancing its small-peptide therapeutics for metabolic diseases through Phase 2 clinical trials. RM-131 is a ghrelin agonist currently in a Phase 2 clinical trial for the treatment of diabetic gastroparesis. RM-493, an agonist of the melanocortin 4 receptor (MC4R), is currently in Phase 1 clinical trials for the treatment of obesity and diabetes.

"We have made great progress since we started both development programs in 2010, and this could only have been achieved with a strong and dedicated investor syndicate," said Bart Henderson, Founder and President of Rhythm. "These programs have great potential for addressing major unmet needs in diabetes, obesity, and gastrointestinal functional disorders, and this financing supports a broad and thorough Phase 2 development program for both drugs."

"Ipsen is impressed with the early results for the ghrelin and MC4 programs as well as Rhythm's track record in executing a precision development program," said Marc de Garidel, Chairman and CEO of Ipsen. "Rhythm's management team has our full support, and we are excited to become an investor in this Series B financing."

"We see the potential for transforming the treatment of diabetes and other metabolic diseases with molecules that activate the ghrelin and MC4R pathways with high potency and specificity," said Lou Tartaglia, PhD, a Partner at Third Rock Ventures. "We are pleased to invest in Rhythm and to be working with a great management team as it moves this exciting portfolio of peptides forward."

In connection with the financing, Vaughn Kailian, Managing Director of MPM Capital, will join Rhythm's board. He joins board members Keith Gottesdiener, MD, CEO of Rhythm; Ed Mathers, a Partner at NEA; Lou Tartaglia, PhD, a Partner at Third Rock Ventures; and Christian de la Tour, Chairman of Ipsen UK Companies.

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, and Ipsen. 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. Avaxia Biologics, Inc. Raises $2.2 Million in First Closing of Series A Financing to Advance Oral Antibodies for Inflammatory Bowel Disease
6. Cowen Healthcare Royalty Partners Raises $1 Billion
7. Biotech Firm Spun Off from Childrens Hospital Raises $7 Million to Advance Magnetic-Based Vascular Treatment
8. Cerecor Raises $22 Million Series A Financing
9. Sangart Raises Additional $50M Series G Funding Following Interim Safety Analysis Of Phase 2b Study Of MP4OX In Severe Trauma Patients With Hemorrhagic Shock
10. Biocartis Completes EUR 71 Million (USD 100 Million) Series C Fund Raising
11. InnoPharma Completes $15 Million Series A Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... Cancer experts from ... believe could be a new and helpful biomarker for malignant pleural mesothelioma. Surviving ... to read it now. , Biomarkers are components in the blood, tissue ...
(Date:6/27/2016)... --  Ginkgo Bioworks , a leading organism design ... awarded as one of the World Economic Forum,s ... innovative companies. Ginkgo Bioworks is engineering biology to ... in the nutrition, health and consumer goods sectors. ... including Fortune 500 companies to design microbes for ...
(Date:6/23/2016)... ... June 23, 2016 , ... Mosio, a leader in clinical ... Patient Recruitment and Retention Tips.” Partnering with experienced clinical research professionals, Mosio revisits ... tips, tools, and strategies for clinical researchers. , “The landscape of how patients ...
(Date:6/23/2016)... , June 23, 2016 Houston Methodist ... the Cy-Fair Sports Association to serve as their ... agreement, Houston Methodist Willowbrook will provide sponsorship support, ... connectivity with association coaches, volunteers, athletes and families. ... the Cy-Fair Sports Association and to bring Houston ...
Breaking Biology Technology:
(Date:6/20/2016)... , June 20, 2016 Securus Technologies, ... technology solutions for public safety, investigation, corrections and ... prisons involved, it has secured the final acceptance ... facilities for Managed Access Systems (MAS) installed. Furthermore, ... facilities to be installed by October, 2016. MAS ...
(Date:6/9/2016)... 9, 2016 Paris Police ... video security solution to ensure the safety of people and ... during the major tournament Teleste, an international technology ... services, announced today that its video security solution will be ... back up public safety across the country. The system roll-out ...
(Date:6/2/2016)... The Weather Company , an IBM Business (NYSE: IBM ... which consumers will be able to interact with IBM Watson ... or text and receive relevant information about the product or ... long sought an advertising solution that can create a one-to-one ... valuable; and can scale across millions of interactions and touchpoints. ...
Breaking Biology News(10 mins):