Rhythm Pharmaceuticals (Rhythm), a biotechnology company developing peptide therapeutics for metabolic diseases, announced today that it has completed the first close on its Series A equity financing of $21 million. The financing was led by MPM Capital (MPM) and New Enterprise Associates (NEA). The funds will be used to develop products licensed from Ipsen (Euronext: IPN).
The Rhythm management team includes Bart Henderson (President) and Elizabeth Stoner, M.D. (Rhythm Chief Development Officer, MPM Managing Director). Lee Kaplan, M.D., Ph.D. (Associate Professor of Medicine, Harvard Medical School; Director, Massachusetts General Hospital Weight Center) is chairman of Rhythm's Scientific Advisory Board.