Ipsen, a France-based pharmaceutical company, has helped US-based diabetes and obesity treatment company Rhythm Pharmaceuticals raise $25m.
Ipsen was joined in the series B round by Rhythm’s existing investors, venture capital firms MPM Capital, New Enterprise Associates and Third Rock Ventures. The series B takes Rhythm to $65m raised in its history.
Marc de Garidel, executive chairman of Ipsen, said: "Ipsen is impressed with the early results for the ghrelin and MC4 programmes as well as Rhythm’s track record in executing a precision development program. Rhythm’s management team has our full support, and we are excited to become an investor in this series B financing."
Vaughn Kailian, managing director of MPM Capital, will join Rhythm’s board, alongside Keith Gottesdiener, chief executive of Rhythm, Ed Mathers, a partner at NEA, Lou Tartaglia, a partner at Third Rock Ventures, and Christian de la Tour, chairman of Ipsen UK Companies.