On September 29, 2025, ARS Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company dedicated to empowering at-risk patients and their caregivers to better protect patients from allergic reactions that could lead to anaphylaxis, announced it has entered into a senior secured term loan facility of up to $250 million with an affiliate of RA Capital Management, the company’s largest shareholder, and an affiliate of OMERS Life Sciences as lenders. Wilson Sonsini Goodrich & Rosati advised ARS Pharma on patent matters related to the transaction.

ARS Pharma has borrowed an initial $100 million, which will be used primarily to accelerate the commercial growth of neffy®, a nasal spray used for emergency treatment of allergic reactions, including anaphylaxis. The funding will also support marketing and medical affairs initiatives to generate and disseminate real-world evidence about neffy’s effectiveness.

The Wilson Sonsini patent team that advised ARS Pharma was led by Val Zunic and included Mike Hostetler and Kaia Parenti.

For more information, please see ARS Pharma’s news release.