Pfizer and Ipsen, both of which previously backed Rhythm Metabolic's parent company, contributed to the obesity treatment developer's series A round.
Rhythm Metabolic, a subsidiary of biotechnology company Rhythm, closed a $40m series A round yesterday featuring pharmaceutical companies Pfizer and Ipsen, the former investing through its corporate venturing unit, Pfizer Ventures.
The round included Deerfield Management, the investment firm backed by several US-based hospitals, as well as OrbiMed Advisors, Wellington Management, MPM Capital, New Enterprise Associates (NEA), Third Rock Ventures and an unnamed public healthcare investment fund.
Rhythm Metabolic is working on a treatment for obesity caused by genetic…
