Peptide therapeutics firm Rhythm gets $8m from Pfizer Venture Investments
Rhythm, a Boston biotechnology company developing peptide therapeutics to treat such metabolic diseases as obesity and diabetes, said it has raised $8 million from Pfizer Venture Intestments, the venture capital arm of the drug company Pfizer and a new investor in Rhythm.
That additional $8 million completes a $33 million Series B financing. The round had participation from existing investors MPM Capital, New Enterprise Associates, Third Rock Ventures, and Ipsen, the company said.
This additional financing brings the total capital raised by Rhythm to $73 million.
In a statement, Bart Henderson, co-founder and president of Rhythm, said, ‘‘The Pfizer team has deep commercial and development experience that we intend to leverage as we expand the clinical trial program for” Rhythm’s two drug candidates.
One drug candidate aims to treat obesity and diabetes, the other diabetic gastroparesis and GI functional disorders, the company said.
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