Navigation Links
Rhythm Raises $25M in Series B Financing for Diabetes and Obesity Therapeutics

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.

Bart Henderson
(857) 264-4281

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:
(Date:10/11/2017)... ... October 11, 2017 , ... At ... Purple announced Dr. Suneel I. Sheikh, the co-founder, CEO and chief research scientist ... has been selected for membership in ARCS Alumni Hall of Fame . ...
(Date:10/11/2017)... ... 2017 , ... Personal eye wash is a basic first aid supply for any work environment, ... eye do you rinse first if a dangerous substance enters both eyes? It’s one less ... with its unique dual eye piece. , “Whether its dirt and debris, or an acid ...
(Date:10/11/2017)... ... October 11, 2017 , ... ... it will be hosting a Webinar titled, “Pathology is going digital. Is your ... on digital pathology adoption best practices and how Proscia improves lab economics and ...
(Date:10/11/2017)... Netherlands and LAGUNA HILLS, Calif. ... Institute of Cancer Research, London (ICR) ... MMprofiler™ with SKY92, SkylineDx,s prognostic tool to risk-stratify patients with ... known as MUK nine . The University of ... which is partly funded by Myeloma UK, and ICR will ...
Breaking Biology Technology:
(Date:4/13/2017)... , April 13, 2017 UBM,s Advanced Design ... will feature emerging and evolving technology through its ... Summits will run alongside the expo portion of the ... panels and demonstrations focused on trending topics within 3D ... design and manufacturing event will take place June 13-15, 2017 ...
(Date:4/11/2017)... April 11, 2017 Crossmatch®, a globally-recognized ... solutions, today announced that it has been awarded ... Projects Activity (IARPA) to develop next-generation Presentation Attack ... "Innovation has been a driving force within ... will allow us to innovate and develop new ...
(Date:4/11/2017)... , April 11, 2017 No two ... researchers at the New York University Tandon School ... Engineering have found that partial similarities between prints ... used in mobile phones and other electronic devices ... The vulnerability lies in the fact that ...
Breaking Biology News(10 mins):