Rhythm is developing peptide therapeutics focused on rare genetic deficiencies in the melanocortin-4 receptor (MC4R) pathway that lead to severe obesity and metabolic disorders. Its lead program is setmelanotide (RM-493), an MC4R agonist being developed to treat obesity caused by genetic defects in the MC4 pathway. The company completed a $41M mezzanine financing to fund clinical development. Rhythm plans to use proceeds to advance setmelanotide into Phase 3 registration studies for POMC and LEPR deficiency obesity and to expand Phase 2 trials for other genetic conditions. It intends to initiate Phase 2 proof-of-concept studies for Bardet-Biedl syndrome, Alström syndrome, and POMC heterozygous deficiency obesity during 2017. The company is led by President and Founder Bart Henderson and CEO Keith Gottesdiener. Rhythm is a Boston, Massachusetts-based biopharmaceutical company developing peptide therapeutics that address unmet needs in gastrointestinal diseases and obesity. Led by CEO Keith Gottesdiener, MD, the company is developing relamorelin (RM-131), a ghrelin peptide agonist for diabetic gastroparesis and other gastrointestinal functional disorders. Its subsidiary, Rhythm Metabolic, is developing setmelanotide (RM-493), an MC4R peptide agonist to treat obesity caused by genetic deficiencies in the MC4 pathway. Rhythm completed a $40M Series A financing to advance these programs. New investors in the round included OrbiMed, Deerfield Management, Wellington Management and an undisclosed public healthcare investment fund, joining existing backers MPM Capital, New Enterprise Associates, Third Rock Ventures, Pfizer Ventures and Ipsen. As part of the financing, Jonathan Silverstein of OrbiMed joined the Rhythm Metabolic Board of Directors. Rhythm is a Boston, MA-based biotechnology company led by co-founder and president Bart Henderson. The company develops small-peptide therapeutics, including the ghrelin peptide agonist RM-131 for diabetic gastroparesis and other GI functional disorders and the MC4R peptide agonist RM-493 for obesity and diabetes. Rhythm intends to use new capital to advance its peptide programs for metabolic diseases. The company closed an additional $8m in Series B financing, and Pfizer Venture Investments joined existing backers. Existing investors include MPM Capital, New Enterprise Associates, Third Rock Ventures and Ipsen. Rhythm previously raised €40m in a Series A in 2010. Rhythm develops small-peptide therapeutics targeting metabolic diseases, with programs focused on ghrelin and MC4R pathways. Its lead candidate, RM-131, is a ghrelin agonist currently in a Phase 2 trial for diabetic gastroparesis. A second program, RM-493, is an MC4R agonist in Phase 1 trials for obesity and diabetes. The company intends to use the new capital to continue advancing its peptide candidates through Phase 2 clinical development. Rhythm is led by Founder and President Bart Henderson, and the financing included a board change with Vaughn Kailian of MPM Capital joining Rhythm’s board. To date the company has raised $65 million. Rhythm is a Boston-based biotechnology company focused on developing peptide therapeutics for metabolic diseases. Its lead candidates are RM-131, a small-peptide ghrelin agonist for gastrointestinal functional disorders, and RM-493, a small-peptide melanocortin 4 receptor (MC4R) agonist for obesity and diabetes. The company completed a $40M Series A financing after a $21M first close and a $19M second close. The new capital will be used to advance its lead drug candidates through clinical proof-of-concept studies. The Series A involved investors including New Enterprise Associates, MPM Capital and Third Rock Ventures. As part of the financing, Lou Tartaglia, PhD of Third Rock Ventures joined Rhythm’s board of directors.

Total raised

$154M

Funding rounds

6

Latest round

Debt Financing

Latest activity

Feb 2017