Venture capital-backed Rhythm files for Nasdaq IPO


nasdaqVenture capital-backed metabolic drug developer Rhythm has filed for an IPO on the Nasdaq exchange.

Rhythm expects to raise $86.25m via the share sale, according to a document filed with the US Securities and Exchange Commission.

Citigroup, Cowen and Company, Canaccord Genuity, Oppenheimer & Co and Cantor Fitzgerald & Co are acting as underwriters for the IPO, the filing showed.

Rhythm’s investors include MPM Capital, New Enterprise Associates, Third Rock Ventures, Ipsen and Pfizer Ventures, which invested $8m in the company in 2012.

Earlier this year Pfizer Ventures led a $21m Series B round for diagnostics business NeuMoDx.

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