Rhythm Pharmaceuticals and LG Chem Enter into Amendment to Bivamelagon Exclusive License Agreement

Rhythm Pharmaceuticals amended its global licensing agreement with LG Chem for bivamelagon, reducing royalties from low-to-mid-single digits to 1% on MC4R agonist sales while committing to $350 million in fixed payments over four years. The company also secured a $750 million term-loan facility led by KKR's HealthCare Royalty and Blackstone to support the agreement, commercialization efforts, and pipeline development.