RA Capital Management Funds Expansion of ARS Pharma Commercial Activity, Expands Portfolio of Financing Solutions for Innovative Healthcare Companies
– RA Capital and OMERS Life Sciences provide up to $250 million loan facility to commercial-stage biopharma company ARS Pharma to propel further growth –
BOSTON, Sept. 30, 2025 /PRNewswire/ — RA Capital Management, LP (“RA Capital”), a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies, today announced that its affiliate alongside an affiliate of OMERS Life Sciences has entered into a senior secured term loan facility of up to $250 million with ARS Pharmaceuticals, Inc. (ARS Pharma), including an initial $100 million investment.
The financing, which closed on September 29, 2025, illustrates RA Capital’s commitment to providing flexible financing solutions across the entire capital stack. ARS Pharma intends to primarily use the financing to support the acceleration of commercial activity for neffy, the company’s innovative nasal spray for the emergency treatment of Type 1 allergic reactions including anaphylaxis, an important product that provides a needle-free option for patients and their families.
“RA Capital has already supported ARS Pharma’s development and early commercialization of neffy through equity investments and we are proud to help accelerate the adoption of such a transformative innovation,” said Adam Kaye, Senior Managing Director and Partner, Structured Capital, at RA Capital. “With the recent launch of our Structured Capital strategy, RA Capital’s financing capabilities now include flexible equity, debt, royalty, and hybrid solutions designed to meet the needs of innovative, best-in-class healthcare companies like ARS Pharma.”
RA Capital’s Structured Capital team integrates with the full RA Capital services stack – including TechAtlas, the firm’s proprietary research division, and its scientifically trained team – to structure a comprehensive suite of creative financing solutions for commercial-stage companies across the pharmaceutical, biotech, medical products, healthcare services, research tools, and HCIT sub-sectors. The team is led by Jeremy Lack, PhD, and Adam Kaye, who joined RA Capital in 2024 from Athyrium Capital Management and Sixth Street, respectively, as Senior Managing Directors and Partners, Structured Capital.
“We are always striving to serve the capital needs of innovative life sciences, healthcare, and planetary health companies, and the addition of structured capital capabilities makes RA Capital the go-to capital provider for the emerging set of biopharmaceutical companies with the courage and wherewithal to embark on commercializing their own products,” said Peter Kolchinsky, PhD, founder and managing partner at RA Capital. “Jeremy and Adam are highly accomplished industry veterans who have built a strong team with deep expertise to partner with leading healthcare companies to grow and enhance their commercial infrastructure, fund R&D expansion, and pursue acquisition opportunities, whether they’re looking for equity, credit, or structured solutions.”
link
