Pharma BD Deal Intelligence
Rhythm Pharmaceuticals and LG Chem entered into an amendment to their exclusive bivamelagon licence agreement, announced 2 November 2026. Rhythm will pay LG Chem $350 million in fixed payments over four years ($70M within 15 business days of the amendment effective date, $100M in September 2027, $100M in September 2028 and $80M in September 2029) in exchange for reducing the low-to-mid single digit royalty under the original January 2024 agreement to a flat 1% royalty on net product revenue from Rhythm's MC4R portfolio. Rhythm concurrently entered a five-year term loan facility of up to $750 million ($250M funded at closing, $250M committed delayed draw and $250M at mutual agreement) led by KKR's HealthCare Royalty with Blackstone Life Sciences to fund the amendment and ongoing commercialisation. Bivamelagon is an investigational oral MC4R agonist advancing into pivotal development in Prader-Willi syndrome and acquired hypothalamic obesity. NOTE: ingested at pending_review by bd-enrichment-2026-11-04.
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