SCHEDULE: Pontifax Group Discloses 6.3% Stake in LB Pharma

Investment group Pontifax, through its various entities and managing partners, has disclosed a 6.3% beneficial ownership stake in LB Pharmaceuticals Inc. following the company's IPO.

Summary

• Pontifax Management 4 G.P. (2015) Ltd., Pontifax VI G.P. L.P., Ran Nussbaum, and Tomer Kariv collectively reported beneficial ownership of 1,411,681 shares of LB Pharmaceuticals Inc. Common Stock.
• This represents 6.3% of the company's outstanding Common Stock, based on 22,442,989 shares as of September 10, 2025.
• The investment group initially paid an aggregate of $15,000,000 to purchase Series C Preferred Stock, which converted into 411,681 shares of Common Stock upon LB Pharmaceuticals' IPO.
• An additional 999,999 shares of Common Stock were purchased in the IPO on September 12, 2025, at a price of $15.00 per share.
• The funds for these purchases were sourced from working capital.
• Ran Nussbaum, a Managing Director at Pontifax Management, serves as a member of LB Pharmaceuticals' Board of Directors.

Sentiment

Score: 6

Explanation: The filing is a factual disclosure of a significant ownership stake by an institutional investor. While not directly a positive performance report, the substantial investment and board representation by a specialized fund like Pontifax can be viewed favorably as a vote of confidence in LB Pharmaceuticals Inc.'s prospects.

Positives

• A significant institutional investor, Pontifax Group, has taken a substantial 6.3% stake in LB Pharmaceuticals Inc., indicating confidence in the company's prospects.
• Ran Nussbaum, a Managing Partner of Pontifax Management, holds a position on the Board of Directors, providing direct oversight and potential strategic input.

Risks

• The Reporting Persons may, at any time, decide to sell or dispose of some or all of their holdings, which could create selling pressure on the stock.
• Conversely, the Reporting Persons may acquire additional securities, potentially influencing market dynamics and share price.

Future Outlook

The Reporting Persons intend to continuously review their investment in LB Pharmaceuticals Inc. They may engage in discussions with management, the board, and other shareholders, and may acquire additional securities or dispose of existing holdings based on various market and company-specific factors.

Management Comments

• "The undersigned hereby agree that they are filing this statement jointly pursuant to Rule 13d-1(k)(1)."
• "Each of them is responsible for the timely filing of such Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate."

Industry Context

This filing highlights the continued investment activity of specialized life sciences venture capital firms like Pontifax Group in emerging pharmaceutical companies, particularly following their initial public offerings. Such investments are common as companies transition from private to public markets, seeking to capitalize on growth opportunities and requiring ongoing capital support.

Comparison to Industry Standards

• Pontifax Group's investment strategy, involving early-stage preferred stock conversion and subsequent IPO participation, aligns with typical venture capital and private equity approaches in the biotechnology sector.
• The 6.3% stake represents a significant minority position, which is common for institutional investors seeking influence without outright control in newly public biotech companies.
• The presence of a Managing Partner (Ran Nussbaum) on the issuer's Board of Directors is a standard practice for venture capital firms to protect their investment and provide strategic guidance to portfolio companies.

Related Party Transactions

• Pontifax (Cayman) VI Limited Partnership and Pontifax (Israel) VI Limited Partnership, whose general partners are Pontifax VI G.P. L.P. and Pontifax Management 4 G.P. (2015) Ltd., made significant investments in LB Pharmaceuticals Inc.
• Ran Nussbaum and Tomer Kariv are Managing Partners of Pontifax Management 4 G.P. (2015) Ltd., which is the general partner of Pontifax VI G.P. L.P., which in turn is the general partner of the entities directly holding the shares.
• Ran Nussbaum serves as a member of the Board of Directors of LB Pharmaceuticals Inc., creating a direct link between the investor group and the company's governance.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor's stake may instill confidence and signal potential strategic involvement. However, the possibility of future share sales by this large holder could also introduce volatility.
• Management/Board: The presence of Ran Nussbaum on the board, representing a major investor, implies a degree of oversight and potential influence on strategic decisions and corporate activities.

Next Steps

• Reporting Persons will continue to review their investment in LB Pharmaceuticals Inc.
• They may engage in discussions with the Issuer's management, board of directors, and other shareholders.
• Reporting Persons may acquire additional securities or dispose of existing holdings in the future, depending on various factors.

Key Dates

Keywords

LB Pharmaceuticals, Pontifax, Schedule 13D, Beneficial Ownership, IPO, Biotechnology Investment, Ran Nussbaum, Tomer Kariv, Institutional Investor