Hub biotech Rhythm raises $25m
Rhythm, a Boston biotechnology company focused on diabetes and obesity, announced Wednesday that it has raised $25 million in a Series B financing round.
The Series B financing brings the total capital raised by Rhythm to $65 million.
All existing investors participated in the round, which was joined by new investor Ipsen. Existing investors include MPM Capital, New Enterprise Associates, and Third Rock Ventures, Rhythm said in a press release.
Rhythm said it will use the proceeds to continue advancing its small-peptide therapeutics for metabolic diseases through Phase 2 clinical trials.Chris Reidy can be reached at firstname.lastname@example.org.