Rhythm Pharmaceuticals Appoints Jennifer Chien as Executive Vice President, Head of North America
Rhythm Pharmaceuticals (Nasdaq:RYTM) has appointed Jennifer Chien as Executive Vice President, Head of North America, effective November 9, 2020. Ms. Chien, with over 20 years in rare diseases, will co-lead global commercial strategies alongside newly appointed EVP, Head of International, Yann Mazabraud. This leadership change comes as Rhythm prepares for the potential approval of setmelanotide, a therapy for rare genetic obesity disorders. The FDA has set a PDUFA date of November 27, 2020, for Rhythm's New Drug Application for setmelanotide.
- Appointment of Jennifer Chien may enhance leadership and strategic direction.
- Setmelanotide is nearing potential approvals, increasing market anticipation.
- Leadership change may cause uncertainty in strategic continuity.
- Dependence on upcoming regulatory approvals creates risk.
BOSTON, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Rhythm Pharmaceuticals, Inc. (Nasdaq:RYTM), a late-stage biopharmaceutical company aimed at developing and commercializing therapies for the treatment of rare genetic disorders of obesity, today announced that Jennifer Chien has been appointed as Executive Vice President, Head of North America, effective November 9, 2020. As EVP North America, Ms. Chien will co-lead global integrated commercial strategies in close collaboration with Yann Mazabraud, who was recently appointed EVP, Head of International.
“Jennifer joins Rhythm at a critical inflection point as we prepare to bring setmelanotide, potentially the first approved therapy for rare genetic disorders of obesity, to patients throughout the world,” said David Meeker, M.D., Chair, President and Chief Executive Officer of Rhythm. “With her passion for science and patients, as well as her deep experience in rare disease, Jennifer will play a crucial role in driving patient identification and delivering setmelanotide to individuals who might benefit from therapy. Jennifer understands the challenges patients, families, health care providers and the community as a whole face in trying to get the appropriate care for their devastating rare disease. We are excited to welcome her to Rhythm.”
Ms. Chien brings more than 20 years of experience in rare diseases. Most recently, she was the Chief Commercial Officer at Krystal Biotech. Prior to that, she served as Vice President, Head of Genetic Diseases at Sanofi Genzyme, where she was responsible for the U.S. commercial strategy and implementation for seven brands and launch preparation within rare diseases. During her time at Sanofi Genzyme, Ms. Chien also held leadership roles as Vice President, Head of Global Nephrological Diseases, Senior Director of Global Marketing in Fabry disease, Senior Director of Global Market Access and International Marketing for the cardiovascular business, and Director of Business Development. Ms. Chien holds a bachelor’s of science degree from Massachusetts Institute of Technology and a master’s in public health from Harvard University.
“This is an exciting time to join Rhythm,” said Ms. Chien. “With setmelanotide nearing its first potential approvals in the United States and Europe, I look forward to working with the Rhythm team to transform the care of individuals living with rare genetic disorders of obesity and bring them a much needed therapy.”
About Rhythm Pharmaceuticals
Rhythm is a late-stage biopharmaceutical company focused on the development and commercialization of therapies for the treatment of rare genetic disorders of obesity. The Company is developing setmelanotide, its investigational, melanocortin-4 receptor (MC4R) agonist, for the treatment of severe obesity and hyperphagia associated with rare genetic disorders of obesity. The U.S. Food and Drug Administration (FDA) has accepted for filing Rhythm’s New Drug Application (NDA) for setmelanotide for the treatment of POMC deficiency obesity and LEPR deficiency obesity with Priority Review and a Prescription Drug User Fee Act (PDUFA) goal date of November 27, 2020. Rhythm also submitted a Marketing Authorization Application (MAA) for setmelanotide to treat individuals living with POMC deficiency obesity or LEPR deficiency obesity to the European Medicines Agency (EMA) in June 2020. Rhythm is also evaluating setmelanotide for reduction in hunger and body weight in a pivotal Phase 3 trial in people living with Bardet-Biedl and Alström syndromes, with topline data from this trial expected in the fourth quarter of 2020 or early in the first quarter of 2021. Rhythm is leveraging the Rhythm Engine -- comprised of its Phase 2 basket study, TEMPO Registry, GO-ID genotyping study and Uncovering Rare Obesity program -- to improve the understanding, diagnosis and potentially the treatment of rare genetic disorders of obesity. For healthcare professionals, visit www.UNcommonObesity.com for more information. For patients and caregivers, visit www.LEADforRareObesity.com for more information. The company is based in Boston, MA.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our business strategy and plans, including regarding commercialization of setmelanotide; the potential, safety, efficacy, and regulatory and clinical progress of setmelanotide, including anticipated timing of data readouts and our expectations surrounding potential regulatory approvals and timing thereof; and management changes. Statements using words such as “expect”, “anticipate”, “believe”, “may”, “will” and similar terms are also forward-looking statements. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the impact of our management transition, our ability to enroll patients in clinical trials, the design and outcome of clinical trials, the impact of competition, the ability to achieve or obtain necessary regulatory approvals, risks associated with data analysis and reporting, our liquidity and expenses, the impact of the COVID-19 pandemic on our business and operations, including our preclinical studies, clinical trials and commercialization prospects, and general economic conditions, and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2020 and our other filings with the Securities and Exchange Commission. Except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise.
Corporate Contact:
David Connolly
Head of Investor Relations and Corporate Communications
Rhythm Pharmaceuticals, Inc.
857-264-4280
dconnolly@rhythmtx.com
Investor Contact:
Hannah Deresiewicz
Stern Investor Relations, Inc.
212-362-1200
hannah.deresiewicz@sternir.com
Media Contact:
Adam Daley
Berry & Company Public Relations
212-253-8881
adaley@berrypr.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/917fe36f-5096-40b5-8c0d-de8b14bac65e.
FAQ
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