STOCK TITAN

Biotechnology Value Fund (RACD) group reveals 6.4% Research Alliance stake

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Form Type
SCHEDULE 13G

Rhea-AI Filing Summary

Biotechnology Value Fund and affiliates reported a significant passive stake in Research Alliance Corp’s Class A ordinary shares. As of July 20, 2026, BVF, BVF2 and Biotechnology Value Trading Fund OS together beneficially owned 500,000 Class A shares. These holdings represent approximately 6.4% of the 7,775,000 Class A shares outstanding as of the company’s underwritten public offering on July 13, 2026.

The filing details how various BVF-related entities share voting and dispositive power over these shares, with BVF GP Holdings LLC tied to 459,176 shares (5.9%) and BVF Partners L.P., BVF Inc. and Mark N. Lampert each deemed to beneficially own the full 500,000 shares, while expressly disclaiming ultimate beneficial ownership where applicable.

Positive

  • None.

Negative

  • None.
Class A shares outstanding 7,775,000 shares Class A ordinary shares outstanding as of the close of the underwritten public offering on July 13, 2026
BVF aggregate holdings 500,000 shares Class A shares beneficially owned in aggregate by BVF, BVF2, Trading Fund OS and a Partners managed account as of July 20, 2026
BVF percentage of class 3.4% Approximate percentage of Class A shares beneficially owned by Biotechnology Value Fund, L.P.
BVF2 percentage of class 2.5% Approximate percentage of Class A shares beneficially owned by Biotechnology Value Fund II, L.P.
BVF GPH percentage of class 5.9% Approximate percentage of Class A shares BVF GP Holdings LLC may be deemed to beneficially own
Partners/Lampert deemed stake 6.4% Approximate percentage of Class A shares each of Partners, BVF Inc. and Mark N. Lampert may be deemed to beneficially own
beneficially own financial
"As of the close of business on July 20, 2026, (i) BVF beneficially owned 262,376 shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
dispositive power financial
"Sole Dispositive Power 0.00 8 | Shared Dispositive Power 262,376.00"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
voting power financial
"Sole Voting Power 0.00 6 | Shared Voting Power 500,000.00"
Voting power is the ability shareholders have to influence a company's major decisions—like electing the board, approving mergers, or changing corporate rules—based on the voting rights attached to the shares they hold. For investors it matters because greater voting power is like holding more keys to a building: it gives you a stronger say over management choices and the company’s strategy, which can affect future value and risk.
managed account financial
"held in a certain Partners managed account (the "Partners Managed Account")"
underwritten public offering financial
"as of the close of the Issuer's underwritten public offering as reported"
An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What stake in RACD does Biotechnology Value Fund report on this Schedule 13G?

Biotechnology Value Fund and related entities report beneficial ownership of 500,000 Class A shares of Research Alliance Corp. This represents approximately 6.4% of the 7,775,000 Class A ordinary shares outstanding as of the company’s underwritten public offering on July 13, 2026.

How many RACD shares do the main BVF funds each beneficially own?

As of July 20, 2026, BVF holds 262,376 shares, BVF2 holds 196,800 shares, and Biotechnology Value Trading Fund OS holds 32,968 shares. Together, these positions, plus a Partners managed account, total 500,000 Class A shares.

What percentage of RACD’s Class A shares are outstanding and used for BVF’s ownership calculation?

The ownership percentages are based on 7,775,000 Class A shares outstanding, excluding Class B shares. This figure comes from Research Alliance Corp’s underwritten public offering, as reported in its prospectus filed on July 13, 2026, and underpins all stated percentage interests.

Does Mark N. Lampert personally hold a 6.4% stake in RACD?

Mark N. Lampert may be deemed to beneficially own 500,000 shares through his role as a director and officer of BVF Inc. However, he, BVF Inc., and related entities expressly disclaim beneficial ownership of shares held by the BVF funds and the Partners managed account.

How is voting and dispositive power over RACD shares allocated among BVF entities?

BVF GPH, Partners, BVF Inc. and Mark N. Lampert share voting and dispositive power over shares held by BVF and BVF2. Partners, BVF Inc. and Lampert also share voting and dispositive power over shares held by Trading Fund OS and in the Partners managed account.





G75228109

(CUSIP Number)
07/13/2026

(Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)




schemaVersion:


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SCHEDULE 13G



BIOTECHNOLOGY VALUE FUND L P
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
BVF I GP LLC
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
BIOTECHNOLOGY VALUE FUND II LP
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
BVF II GP LLC
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
Biotechnology Value Trading Fund OS LP
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
BVF Partners OS Ltd.
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
BVF GP HOLDINGS LLC
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
BVF PARTNERS L P/IL
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
BVF INC/IL
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:07/20/2026
LAMPERT MARK N
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert
Date:07/20/2026
Exhibit Information

99.1 - Joint Filing Agreement, July 20, 2026.