Brief: Rhythm to Acquire Global Rights to Oral MC4R Agonist LB54640

LG Chem

04/01/2024 12:24

Jan 4 (Reuters) - Rhythm Pharmaceuticals Inc  RYTM.O :
    * RHYTHM PHARMACEUTICALS AND LG CHEM LIFE SCIENCES ENTER
AGREEMENT
FOR RHYTHM TO ACQUIRE GLOBAL RIGHTS TO ORAL MC4R AGONIST LB54640
    * RHYTHM PHARMACEUTICALS INC: LB54640 HAS SHOWN TARGETED
EFFECT ON
MC4 RECEPTOR WITHOUT HYPERPIGMENTATION
    * RHYTHM PHARMACEUTICALS INC: RHYTHM TO ADVANCE LB54640 IN
TWO
PHASE 2 CLINICAL TRIALS
    * RHYTHM PHARMACEUTICALS INC: UNDER TERMS OF AGREEMENT,
RHYTHM
AGREED TO PAY LG CHEM $40 MILLION IN CASH AND $20 MILLION IN
RHYTHM EQUITY AT CLOSING
    * RHYTHM PHARMACEUTICALS : ALSO UNDER AGREEMENT, RHYTHM HAS
AGREED
TO PAY LG CHEM UP TO $205 MILLION UPON ACHIEVING CERTAIN
REGULATORY AND SALES MILESTONES
    * RHYTHM PHARMACEUTICALS INC: UNDER DEAL,  ADDITIONAL $40
MILLION
IN CASH 18 MONTHS AFTER CLOSING

Source text for Eikon:  ID:nGNX3gHvzH 
Further company coverage:  RYTM.O 

 ((Reuters.Briefs@thomsonreuters.com;))