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Latham & Watkins Advises Rhythm Pharmaceuticals in Non-Dilutive Revenue Interest Financing

June 17, 2022
A multidisciplinary team advises the clinical stage biopharmaceutical company on the royalty financing with Healthcare Royalty Partners for up to US$100 million.

Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a commercial-stage biopharmaceutical company committed to transforming the care of people living with rare genetic diseases of obesity, has announced that it has entered into a Revenue Interest Financing Agreement, with HealthCare Royalty Partners for a total investment amount of up to US$100 million. Rhythm intends to use the proceeds to support global commercialization efforts for IMCIVREE® (setmelanotide) and ongoing clinical development to improve outcomes for people suffering from these rare genetic diseases.

Latham & Watkins represents Rhythm Pharmaceuticals, Inc. in the transaction with a transactional team led by Bay Area partner Haim Zaltzman, Boston partner Pete Handrinos, Bay Area partner Dan Van Fleet, with Bay Area associate Trevor Church and Los Angeles associate Rychelle Andersen. Advice was also provided on corporate and capital markets matters by New York partners Jenna Cooper and Reza Mojtabaee-Zamani, with London associate Nicole McNeil and New York associates Hamna Ahmad and Eric Rice; on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards, Brussels partner Eveline Van Keymeulen, Bay Area partner Heather Deixler and Bay Area counsel Betty Pang, with Washington, D.C. associate Chad Jennings; on intellectual property matters by Bay Area partners Judith Hasko and Jekkie Kim; on benefits and compensation matters by Bay Area partner Maj Vaseghi; and on tax matters by Bay Area partner Katharine Moir.