Rhythm Acquires Xinvento and Portfolio of Investigational Therapeutics
February 27, 2023
Rare Daily Staff
Rhythm Pharmaceuticals said that its Netherlands subsidiary acquired Xinvento, a Netherlands-based biotech company focused on developing therapies for congenital hyperinsulinism.
Congenital hyperinsulinism (CHI) is a rare genetic disease in which cells secrete excess insulin, causing hypoglycemia, which can result in serious health outcomes including seizures, coma, permanent brain damage, and death. CHI is the most frequent cause of severe, random, and persistent hypoglycemia in newborns and children.
Xinvento was founded in 2021 by Claudine van der Sande, an experienced biopharmaceutical leader who previously held positions at Roche and Sanofi, and whose first-hand experience as a caregiver to her son living with CHI inspired her mission to seek a more effective treatment for CHI patients. Van der Sande partnered with Piet Wigerinck, a medicinal chemist who served as chief scientific officer of Galapagos for 10 years, to lead the scientific effort. Xinvento is developing novel investigational therapeutic candidates designed to improve the care of patients with CHI.
“I am confronted daily with the constant challenges and fears of living with CHI and the urgent need for an effective new treatment,” said van der Sande, founder and CEO of Xinvento. “I believe Rhythm’s deep clinical development, regulatory and commercial experience in rare diseases makes it the ideal partner to accelerate Xinvento’s CHI program.”
According to the terms of the acquisition agreement, Rhythm B.V. will purchase 100 percent of Xinvento’s fully diluted equity for an upfront payment of $5 million (subject to customary adjustments) with an additional payment of up to $6 million in preclinical development milestones and up to an additional $50 million payable upon certain U.S. or EU regulatory approvals. Rhythm B.V. will also pay up to an additional $150 million in certain commercial net sales milestones related to the lead candidate or a second molecule, in the event a second molecule is selected, developed, and approved.
Following the closing of this acquisition, van der Sande will join Rhythm as vice president, head of CHI program, and will provide her deep subject matter expertise to the advancement of the CHI program.
Rhythm anticipates entering the clinic with the CHI therapeutic candidate in 2024.
Photo: Claudine van der Sande, founder and CEO of Xinvento
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