Rhythm closes $40m Series A financing

Globe Staff

Rhythm, a Boston biotechnology company developing peptide therapeutics for metabolic diseases, said it has completed its Series A financing, increasing the total funding raised to $40 million.

"The first closing on the previously announced $21 million Series A financing was led by MPM Capital and New Enterprise Associates," Rhythm said in a press release. "Third Rock Ventures joined MPM and NEA in the expanded second round."

MPM and Third Rock have offices in Boston.

Rhythm said it is working on drug candidates that seek to treat gastrointestinal functional disorders as well as obesity and diabetes.