Rhythm Pharmaceuticals, a Boston, Massachusetts-based biotechnology company developing peptide therapeutics for metabolic diseases, has completed the first close on its Series A equity financing of $21m.
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 company’s 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.
Rhythm’s board of directors includes Dr. St. Peter, Mr. Mathers, Mr. Henderson, Todd Foley (MPM Managing Director), and Christian de la Tour (Ipsen UK).