Posted under Startups
from http://www.xconomy.com/ 918 days ago

Arlene Weintraub

Boston-based Rhythm Pharmaceuticals is announcing today it has raised $25 million in a Series B financing round, bringing the total amount of capital hauled in by the two-year-old company to $65 million. Existing investors MPM Capital, New Enterprise Associates, and Third Rock Ventures participated in the funding, along with new investor Ipsen, the Paris-based drugmaker.

Rhythm was founded on two compounds licensed from Ipsen—one to treat a digestion-related complication of diabetes, and another to treat severe obesity in people who have diabetes or are at risk of developing it. CEO Keith Gottesdiener says Ipsen’s decision to sign on as an investor “shows what looks to them like a lot of progress with these compounds.”

Rhythm’s lead compound, RM-131, is in mid-stage trials to treat diabetic gastroparesis, a disorder marked by the delayed emptying of food from the stomach, which causes abdominal pain and bloating. Rhythm ...

Read More...

blog comments powered by Disqus
Editor's Pick
Popular Today