Rhythm Pharmaceuticals Appoints Yann Mazabraud as Executive Vice President, Head of International
Rhythm Pharmaceuticals (Nasdaq: RYTM) announced the appointment of Yann Mazabraud as Executive Vice President, Head of International, effective October 5, 2020. This organizational change aims to enhance the company's global strategy, particularly for its lead product, setmelanotide, which targets severe obesity linked to rare genetic disorders. Dr. Meeker praised Mazabraud's extensive experience in the biopharmaceutical sector. Additionally, Nithya Desikan, the previous CCO, will leave to pursue other opportunities, while a search for a Head of North American Operations is underway.
- Appointment of Yann Mazabraud as EVP Head of International is expected to strengthen global operations.
- Mazabraud's extensive experience in rare diseases is likely to enhance the commercial strategy for setmelanotide.
- Departure of Nithya Desikan may raise concerns about continuity in commercial operations.
– Company announces organizational changes designed to accelerate global strategy –
BOSTON, Sept. 14, 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 appointed Yann Mazabraud as the Company’s Executive Vice President, Head of International, effective October 5, 2020. As a member of the Company’s management team, Mr. Mazabraud will lead Rhythm’s international operations.
“Rhythm is building a global, integrated organization to advance setmelanotide, potentially the first approved therapy to treat individuals living with severe obesity and hyperphagia associated with rare genetic disorders of obesity,” said David Meeker, M.D., Chair, President and Chief Executive Officer of Rhythm. “Yann’s appointment to this newly-created role reflects our commitment to delivering setmelanotide to individuals worldwide, and we are thrilled to have him join our team as we accelerate our strategic focus globally. Yann brings more than two decades of experience leading rare diseases commercial strategy, marketing and market access, which will prove invaluable as we continue fostering a community of health care providers, patients and families.”
With more than 20 years in the biopharmaceutical industry leading global commercial and operations teams, Mr. Mazabraud joins Rhythm from Trevi Therapeutics, where he served as Chief Commercial Officer and Head of International for the last two years. Prior to that, he held several leadership positions at Sanofi Genzyme, including, Head of Latin America, U.S. General Manager and North America Head, Rare Diseases. He also served as a member of the Sanofi Genzyme Executive Leadership Team. Mr. Mazabraud holds a master’s degree in management from Ecole Supérieure de Commerce de La Rochelle.
“I am very excited to join Rhythm at this important moment for the company,” said Mr. Mazabraud. “With compelling clinical data for setmelanotide in a range of rare genetic disorders of obesity, and advanced trials ongoing in additional indications, now is the time to expand and accelerate plans to deliver setmelanotide globally. I look forward to working with the Rhythm team toward the goal of transforming the care of people living with rare genetic disorders of obesity.”
In conjunction with this change, Rhythm announced that Nithya Desikan, its Chief Commercial Officer, is leaving the Company to explore other opportunities. Rhythm is conducting a search for a Head of North American Operations, who will serve alongside Mr. Mazabraud. Both roles will report to Dr. Meeker.
Dr. Meeker commented, “We are deeply grateful to Nithya for her many contributions to Rhythm. Under her leadership, Rhythm has grown tremendously and developed strong relationships with health care providers, advocacy groups and families, and upheld a commitment to listening to the patient community to help bolster both individual and collective understandings of rare genetic disorders of obesity. She has built the foundation of a robust, scalable commercial organization to support the potential launch of setmelanotide, and we wish her the best in her future endeavors.”
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/e9c7c83a-19b7-4cf3-bd14-15d7391453b3
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