Rhythm Pharmaceuticals' $100 Million Revenue Interest Financing Agreement With HealthCare Royalty Partners – Global Legal Chronicle


Latham & Watkins represented Rhythm Pharmaceuticals, Inc. in the transaction, while Morgan, Lewis & Bockius acted as legal advisor to HealthCare Royalty.
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 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.
Rhythm is a commercial-stage biopharmaceutical company committed transforming the lives of patients and their families living with hyperphagia and severe obesity caused by rare melanocortin-4 receptor (MC4R) pathway diseases. 
HealthCare Royalty purchases royalties and uses debt-like structures to invest in commercial or near-commercial stage life science assets. HealthCare Royalty has $6.0 billion in cumulative capital commitments with offices in Stamford (CT), San Francisco, Boston and London.
Morgan Stanley & Co. LLC acted as Sole Structuring Agent to Rhythm on the transaction. 
Latham & Watkins represented Rhythm Pharmaceuticals, Inc. in the transaction with a transactional team led by Bay Area partner Haim Zaltzman (Picture), 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.
Involved fees earner: Hamna Ahmad – Latham & Watkins; Rychelle Andersen – Latham & Watkins; Trevor Church – Latham & Watkins; Jenna Cooper – Latham & Watkins; Heather Deixler – Latham & Watkins; Peter Handrinos – Latham & Watkins; Judith Hasko – Latham & Watkins; Chad Jennings – Latham & Watkins; Jekkie Kim – Latham & Watkins; Nicole McNeil – Latham & Watkins; Katharine Moir – Latham & Watkins; Reza Mojtabaee-Zamani – Latham & Watkins; Betty Pang – Latham & Watkins; Eric Rice – Latham & Watkins; Elizabeth Richards – Latham & Watkins; Dan Van Fleet – Latham & Watkins; Eveline Van Keymeulen – Latham & Watkins; Maj Vaseghi – Latham & Watkins; Haim Zaltzman – Latham & Watkins;
Law Firms: Latham & Watkins;
Clients: Rhythm Pharmaceuticals;

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