Rhythm Pharmaceuticals, Inc., a global commercial-stage biopharmaceutical company focused on transforming the lives of patients living with rare neuroendocrine diseases, announced that it reacquired the rights to IMCIVREE^® (setmelanotide) in China, including mainland China, Hong Kong and Macau, as the Company agreed to terminate its 2021 licensing agreement with RareStone Group Ltd.

“Rhythm continues to execute on our strategy of developing setmelanotide and the next generation of MC4R agonists with the goal of making these treatments available to patients from around the world who may benefit,” David Meeker, MD, Chairman, CEO and President of Rhythm, said. “Our global trial of setmelanotide in patients with acquired hypothalamic obesity – which is on track for topline data readout in the second quarter of 2025 – is being conducted in North America, Europe and Japan, and this reacquisition of rights for China, Hong Kong and Macau means Rhythm now owns the global franchise. I want to thank the current management of RareStone for their efforts in reaching a mutually acceptable agreement.”

Under the agreement, Rhythm has agreed to repay $6.3 million in cash to RareStone. Rhythm also agreed to return all shares of RareStone that were acquired under the original agreement for no additional consideration.