According to Fierce Biotech, it's investments join other companies to expand to:
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.
Part of the benefit of the Pfizer investment is that this company has extensive knowledge in both commercialization and development.
This February at the Innovation and Commercialization of Therapeutics for Metabolic Disorders, Rhythm Therapeutics will be on hand to present "Streamline Metabolic Drug Development through Improved Target Selection and Validation". For more information on this session and the rest of the agenda, download it here. If you'd like to join us in February, register today and mention code XP1803BLOG to save 15% off the standard rate.