FOR IMMEDIATE RELEASE
Contact:
Bart Henderson
President
(857) 264-4281
[email protected]
Rhythm Expands Series B Financing to $33 Million;
Adds Pfizer Ventures as an Investor
BOSTON, November 27, 2012— Rhythm announced today that the company has raised an additional $8 million
to complete a $33 million Series B financing. The additional $8 million comes from new investor, Pfizer Venture
Investments, the venture capital arm of Pfizer. Pfizer joins existing investors MPM Capital, New Enterprise
Associates, Third Rock Ventures, and Ipsen, which all participated in a first closing of the Series B financing earlier
this year.
Rhythm will use the proceeds to further develop its small-peptide therapeutics for metabolic diseases. RM-131 is a
ghrelin agonist currently in Phase 2 clinical trials for diabetic gastroparesis and GI functional disorders. RM-493 is
a melanocortin 4 receptor (MC4R) agonist that is completing Phase 1 clinical trials for the treatment of obesity and
diabetes. This additional financing brings the total capital raised by Rhythm to $73 million.
"We are excited to have the support of Pfizer Ventures as we advance both metabolic programs through Phase 2
trials," said Bart Henderson, Co-Founder and President of Rhythm. "The Pfizer team has deep commercial and
development experience that we intend to leverage as we expand the clinical trial program for these two important
new therapeutics."
"The obesity and diabetes epidemics represent one of the largest medical challenges confronting society today,"
said Dr. Barbara Dalton, Vice President Venture Capital, Pfizer Venture Investments. "Rhythm's metabolic
programs are compelling because of the initial proof-of-concept data from ongoing clinical programs, along with
the fact that peptide therapeutics have delivered high success rates in clinical development. We are pleased to help
Rhythm capitalize on their opportunities."
About Pfizer Venture Investments
Pfizer Venture Investments (PVI), the venture capital arm of Pfizer Inc., was founded in 2004 and invests for return
in areas of current or future strategic interest to Pfizer. As part of the Worldwide Business Development division,
PVI seeks to remain at the forefront of life science advances, looking to identify and invest in emerging companies
that are developing compounds and technologies that have the potential to enhance Pfizer's pipeline and shape the
future of our industry. For more information, please visit www.pfizerventure investments.com
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
Rhythm
855 Boylston Street, 11th Floor
Boston, MA 02116
857 264 4280
www.rhythmtx.com
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, Ipsen, and Pfizer Venture Investments.
The company is based in Boston, Massachusetts.