What is Bivamelagon and what condition is it being developed to treat?

Bivamelagon is an investigational oral small-molecule melanocortin-4 receptor agonist. The agreement covers its development and commercialization as a treatment for obesity-related disorders.

How does the amended LG Chem–Rhythm Pharmaceuticals agreement change the deal’s value and payments?

The amendment increases the total contract value from $305 million to $855 million. LG Chem has already received $100 million, and an additional $350 million in upfront payments is scheduled through 2029.

LG Chem revises licensing deal with US firm for obesity drug

Q: Why does Rhythm Pharmaceuticals say it is committed to the Bivamelagon program?

Rhythm CEO David Meeker said melanocortin-4 receptor agonism has shown a profound impact for patients with hyperphagia and severe obesity associated with rare MC4R pathway diseases. He said the company’s commitment reflects confidence in Bivamelagon’s potential patient benefits and long-term shareholder value.

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Summary

LG Chem amended its exclusive license agreement with U.S.-based Rhythm Pharmaceuticals on Tuesday for the development and commercialization of Bivamelagon, an investigational oral obesity treatment. The amendment raises the total contract value from $305 million to $855 million. LG Chem said it aims to expand global development efforts to accelerate patient access to treatments for rare obesity-related disorders.

Key Facts

Bivamelagon is an investigational oral small-molecule melanocortin-4 receptor agonist.
LG Chem has received $100 million from Rhythm Pharmaceuticals, with another $350 million in upfront payments scheduled through 2029.
Rhythm CEO David Meeker said the program reflects the company’s confidence in Bivamelagon’s potential to benefit patients and create long-term shareholder value.
LG Chem Life Sciences Company President Son Jee-woong said the company aims to expand global development efforts.

By Yonhap

Published Nov 3, 2026 2:54 pm KST

A researcher works at LG Chem's R&D facility in this undated photo. Courtesy of LG Chem

LG Chem, Korea's leading chemical company, said Tuesday it has amended an exclusive license agreement with the U.S.-based Rhythm Pharmaceuticals for the development and commercialization of an obesity treatment.

The amendment covers Bivamelagon, an investigational oral small-molecule melanocortin-4 receptor (MC4R) agonist, increasing the total contract value from $305 million to $855 million, the company said in a press release.

LG Chem has already received $100 million from Rhythm, with an additional $350 million in upfront payments scheduled through 2029, it said.

"MC4R agonism has been shown to achieve a profound impact on patients living with hyperphagia and severe obesity associated with rare MC4R pathway diseases," Rhythm Chief Executive Officer (CEO) David Meeker said in a separate press release.

"Our commitment to this program reflects our confidence in bivamelagon's potential to deliver meaningful benefits for patients and create substantial long-term value for shareholders."

LG Chem aims to accelerate patient access to an innovative treatment for rare obesity-related disorders by expanding global development efforts, Son Jee-woong, president of LG Chem's Life Sciences Company, said.

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