Business
Rhythm Pharmaceuticals Announces Acquisition of Xinvento B.V. and Portfolio of Investigational Therapeutics
- Rare disease company in preclinical development for congenital hyperinsulinism - - Acquisition is strong strategic fit with Rhythm’s rare endocrinology
About this update from Rhythm Pharmaceuticals, Inc.
[{"type":"text","content":" - Rare disease company in preclinical development for congenital hyperinsulinism - - Acquisition is strong strategic fit with Rhythm’s rare endocrinology focus and provides meaningful new development opportunity - - Expect to initiate clinical development in 2024 - BOSTON and AMSTERDAM, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a global commercial-stage biopharmaceutical company focused on transforming the lives of patients and their families living with hyperphagia and severe obesity caused by rare melanocortin-4 receptor (MC4R) pathway diseases, today announced that Rhythm’s Netherlands subsidiary, Rhythm Pharmaceuticals Netherlands B.V. (“Rhythm BV”), acquired Xinvento B.V., a Netherlands-based biotech company focused on developing therapies for congenital hyperinsulinism (CHI). CHI is a rare genetic disease in which cells secrete excess insulin, causing hypoglycemia, which can result in serious health outcomes including seizures, coma, permanent brain damage and death.Xinvento was founded in 2021 by Claudine van der Sande, an experienced biopharmaceutical leader who previously held positions at Roche and Sanofi, and whose first-hand experience as a caregiver to her son living with CHI inspired her mission to seek a more effective treatment for CHI patients. Ms. van der Sande partnered with Dr. Piet Wigerinck, a medicinal chemist who served as chief scientific officer of Galapagos for 10 years, to lead the scientific effort. Xinvento is developing novel investigational therapeutic candidates designed to improve the care of patients with CHI. Following the closing of this acquisition, Ms. van der Sande, Founder and CEO of Xinvento, will join Rhythm as Vice President, Head of CHI program, and will provide her deep subject matter expertise to the advancement of the CHI program. “As a mother and primary caregiver to a child with CHI, Claudine knows that there is significant unmet need for new treatment options that can safely lower the frequency of hypoglycemic events and help minimize the incidence of irreversible brain damage in people born with CHI. In two short years, we believe she has driven a nimble, science-focused organization towards bringing a highly promising therapeutic candidate into the clinic,” said David Meeker, M.D., Chair, President and Chief Executive Officer of Rhythm. “W...