Rhythm Expands Series B Financing to $33 Million; Adds Pfizer Ventures as an Investor

 Rhythm Expands Series B Financing to $33 Million; Adds Pfizer Ventures as an

PR Newswire

BOSTON, Nov. 27, 2012

BOSTON, Nov. 27, 2012 /PRNewswire/ -- Rhythm announced today that the company
has raised an additional $8 million to complete a $33 million Series B
financing. The additional $8 million comes from new investor, Pfizer Venture
Investments, the venture capital arm of Pfizer. Pfizer joins existing
investors MPM Capital, New Enterprise Associates, Third Rock Ventures, and
Ipsen, which all participated in a first closing of the Series B financing
earlier this year.

Rhythm will use the proceeds to further develop its small-peptide therapeutics
for metabolic diseases. RM-131 is a ghrelin agonist currently in Phase 2
clinical trials for diabetic gastroparesis and GI functional disorders. RM-493
is a melanocortin 4 receptor (MC4R) agonist that is completing Phase 1
clinical trials for the treatment of obesity and diabetes. This additional
financing brings the total capital raised by Rhythm to $73 million.

"We are excited to have the support of Pfizer Ventures as we advance both
metabolic programs through Phase 2 trials," said Bart Henderson, Co-Founder
and President of Rhythm. "The Pfizer team has deep commercial and development
experience that we intend to leverage as we expand the clinical trial program
for these two important new therapeutics."

"The obesity and diabetes epidemics represent one of the largest medical
challenges confronting society today," said Dr. Barbara Dalton, Vice President
Venture Capital, Pfizer Venture Investments. "Rhythm's metabolic programs are
compelling because of the initial proof-of-concept data from ongoing clinical
programs, along with the fact that peptide therapeutics have delivered high
success rates in clinical development. We are pleased to help Rhythm
capitalize on its opportunities."

About Pfizer Venture Investments
Pfizer Venture Investments (PVI), the venture capital arm of Pfizer Inc., was
founded in 2004 and invests for return in areas of current or future strategic
interest to Pfizer. As part of the Worldwide Business Development division,
PVI seeks to remain at the forefront of life science advances, looking to
identify and invest in emerging companies that are developing compounds and
technologies that have the potential to enhance Pfizer's pipeline and shape
the future of our industry. For more information, please visit

About Rhythm (www.rhythmtx.com)
Rhythm is a biotechnology company developing peptide therapeutics that address
unmet needs in metabolic diseases. Rhythm is developing the ghrelin peptide
agonist, RM-131, for the treatment of diabetic gastroparesis and other GI
functional disorders, and the MC4R peptide agonist, RM-493, for obesity and
diabetes. Rhythm investors include MPM Capital, New Enterprise Associates,
Third Rock Ventures, Ipsen, and Pfizer Venture Investments. The company is
based in Boston, Massachusetts.

Bart Henderson
(857) 264-4281


Website: http://www.rhythmtx.com
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