# Rhythm Pharmaceuticals

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rhythm-pharmaceuticals

- Industry: Biotechnology
- Headquarters: Boston, US
- Website: www.rhythmtx.com
- Total disclosed funding: $41M
- Latest round: Series B (Dec 4, 2012)
- Investors on record: 5

## About

Founded in 2008 and based in Massachusetts, US, Rhythm Pharmaceuticals, Inc. is a biotechnology company that develops treatment for rare genetic diseases for chronic weight management in adult and pediatric patients six years of age and older with obesity. The company has raised venture funding rounds from private equity investors, including New Enterprise Associates, Third Rock Ventures, and Ipsen. In October 2017, the company was listed on the Nasdaq global market for an IPO (Initial Public Offering) under the ticker symbol RYTM. Bart Henderson founded the company and was led by Keith Gottesdiener as CEO until January 2020. Former CFO Hunter Smith took over the position in March of the same year, and in July 2020, David Meeker was appointed as Rhythm Pharmaceuticals' CEO. The U.S. Food & Drug Administration (FDA) has approved Rhythm Pharmaceuticals' IMCIVREE (setmelanotide) in November 2020. In March 2024, Rhythm Pharmaceuticals, Inc. raised USD 150 million in PIPE funding led by Perceptive Advisors. 

The company's R&D team offers clinical trials and translational research for setmelanotide, a melanocortin-4 receptor (MC4R) agonist used to treat rare genetic overweight disorders by optimizing DNA (deoxyribonucleic acid) sequencing infrastructure from individuals with severe obesity.

## Funding rounds

- Series B, Dec 4, 2012, $13M — Pfizer Venture Investments
- Series B, May 25, 2012, $9.5M — New Enterprise Associates, Third Rock Ventures, MPM BioImpact, Ipsen
- Series A, Aug 27, 2010, $8M — New Enterprise Associates, Third Rock Ventures, MPM BioImpact
- Series A, Mar 9, 2010, $10M — New Enterprise Associates, MPM BioImpact

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series A, Series B
- MPM BioImpact (https://capitalatlas.ai/funds/mpm-bioimpact) — Series A, Series B
- Third Rock Ventures (https://capitalatlas.ai/funds/third-rock-ventures) — Series A, Series B
- Ipsen — Series B
- Pfizer Venture Investments (https://capitalatlas.ai/funds/pfizer-venture-investments) — Series B