RA Capital Management Acquires Significant Stake in LB Pharmaceuticals Inc, Further Expanding Focus on Healthcare Sector

RA Capital Management, a Boston-based investment firm, acquired a significant stake in LB Pharmaceuticals Inc, a clinical-stage biopharmaceutical company. The firm invested $28.2 million in LB Pharmaceuticals, which specializes in developing novel therapies for neuropsychiatric diseases. The acquisition aligns with RA Capital's focus on the healthcare sector, particularly in innovative biopharmaceutical companies. LB Pharmaceuticals' lead product candidate, LB-102, has the potential to become the first benzamide antipsychotic drug approved for neuropsychiatric disorders in the US. Despite a recent decline in stock price, the company's focus on novel therapies presents potential long-term growth opportunities.

RA Capital Management, a Boston-based investment firm, has acquired a significant stake in LB Pharmaceuticals Inc., a clinical-stage biopharmaceutical company. The firm invested $28.2 million in LB Pharmaceuticals, which specializes in developing novel therapies for neuropsychiatric diseases. The acquisition aligns with RA Capital's focus on the healthcare sector, particularly in innovative biopharmaceutical companies.

LB Pharmaceuticals' lead product candidate, LB-102, has the potential to become the first benzamide antipsychotic drug approved for neuropsychiatric disorders in the US. Despite a recent decline in stock price, the company's focus on novel therapies presents potential long-term growth opportunities.

The acquisition was announced on September 12, 2025, and RA Capital Management reported holding 1,675,000 shares of LB Pharmaceuticals Inc. (ticker LBRX), representing 7.5% of the company's outstanding shares. The investment was made through RA Capital Management, L.P., RA Capital Healthcare Fund, L.P., and two individuals, Peter Kolchinsky and Rajeev Shah, who each hold shared voting and dispositive power over the shares [SCHEDULE 13G] LB PHARMACEUTICALS INC SEC Filing^[1].

RA Capital Management serves as the investment adviser to the Fund with delegated voting and disposition authority, while the Fund disclaims beneficial ownership for Section 13(d) purposes due to delegation terms. The ownership percentage is based on 22,442,989 shares outstanding per the issuer’s prospectus, providing a clear basis for the calculation.

The filing also clarifies that the Fund directly holds the reported shares, and RA Capital has been delegated voting and disposition authority. The Reporting Persons expressly disclaim that they constitute a "group," and Item 10 certification states the holdings were not acquired to change or influence control. The document includes signatures and a joint filing agreement exhibit, meeting formal disclosure requirements.