Sec Form 13G Filing - NEW ENTERPRISE ASSOCIATES 13 LP filing for SAGIMET BIOSCIENCES INC SER A (SGMT) - 2024-02-14

1		NAMES OF REPORTING PERSON(S)   New Enterprise Associates 13, L.P.
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a) ☐ (b) ☐
3		SEC USE ONLY
4		CITIZENSHIP OR PLACE OF ORGANIZATION   Cayman Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5		SOLE VOTING POWER   0 Shares
		6		SHARED VOTING POWER   2,000,275 Shares
		7		SOLE DISPOSITIVE POWER   0 Shares
		8		SHARED DISPOSITIVE POWER   2,000,275 Shares

9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,000,275 Shares
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES		☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)    6.6%
12		TYPE OF REPORTING PERSON     PN

1		NAMES OF REPORTING PERSON(S)   NEA Partners 13, L.P.
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a) ☐ (b) ☐
3		SEC USE ONLY
4		CITIZENSHIP OR PLACE OF ORGANIZATION   Cayman Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5		SOLE VOTING POWER   0 Shares
		6		SHARED VOTING POWER   2,000,275 Shares
		7		SOLE DISPOSITIVE POWER   0 Shares
		8		SHARED DISPOSITIVE POWER   2,000,275 Shares

9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,000,275 Shares
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES		☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)    6.6%
12		TYPE OF REPORTING PERSON     PN

1		NAMES OF REPORTING PERSON(S)   NEA 13 GP, LTD
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a) ☐ (b) ☐
3		SEC USE ONLY
4		CITIZENSHIP OR PLACE OF ORGANIZATION   Cayman Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5		SOLE VOTING POWER   0 Shares
		6		SHARED VOTING POWER   2,000,275 Shares
		7		SOLE DISPOSITIVE POWER   0 Shares
		8		SHARED DISPOSITIVE POWER   2,000,275 Shares

9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,000,275 Shares
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES		☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)    6.6%
12		TYPE OF REPORTING PERSON     CO

CUSIP No.  786700104

13G

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CUSIP No.  786700104

13G

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9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   2,000,275 Shares
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES		☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)    6.6%
12		TYPE OF REPORTING PERSON     IN

CUSIP No.  786700104

13G

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CUSIP No.  786700104

13G

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CUSIP No.  786700104

13G

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CUSIP No.  786700104

13G

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Item 1(a).

Name of Issuer:

 

Sagimet Biosciences Inc.

 

 

Item 1(b).

Address of Issuer's Principal Executive Offices:

 

155 Bovet Road, Suite 303., San Mateo, CA 94402

 

 

Item 2(a).

Names of Persons Filing:

 

New Enterprise Associates 13, L.P. (“NEA 13”); NEA Partners 13, L.P. (“NEA Partners 13”), which is the sole general partner of NEA 13; NEA 13 GP, LTD (“NEA 13 GP”), which is the sole general partner of NEA Partners 13; Forest Baskett (“Baskett”), Patrick J. Kerins (“Kerins”), and Scott D. Sandell (“Sandell”) (together, the “Directors”). Anthony A. Florence, Jr. (“Florence”) and Mohamad H. Makhzoumi (“Makhzoumi”) are each members of the Executive Committee of NEA Management Company, LLC (the “Executive Committee”).

 

The persons named in this Item 2(a) are referred to individually herein as a “Reporting Person” and collectively as the “Reporting Persons.”

 

 

Item 2(b).

Address of Principal Business Office or, if none, Residence:

 

The address of the principal business office of NEA 13, NEA Partners 13, NEA 13 LTD, Kerins and Sandell is New Enterprise Associates, 1954 Greenspring Drive, Suite 600, Timonium, MD 21093. The address of the principal business office of Baskett and Makhzoumi is New Enterprise Associates, 2855 Sand Hill Road, Menlo Park, California 94025. The address of the principal business office of Florence is New Enterprise Associates, 104 Fifth Avenue, 19th Floor, New York, NY 10011.

 

 

Item 2(c).

Citizenship:

 

Each of NEA 13 and NEA Partners 13 is a Cayman Islands exempted limited partnership. NEA 13 GP is a Cayman Islands exempted company. Each of the Directors is a United States citizen.

 

Each of Florence and Makhzoumi is a United States citizen.

 

 

Item 2(d).

Title of Class of Securities:

 

Series A Common Stock, $0.0001 par value (“Common Stock”).

 

 

Item 2(e).

CUSIP Number:

 

786700104

 

  

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

Not applicable.

 

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Item 4.

Ownership.

 

(a)

Amount Beneficially Owned:

 

(i)

NEA 13 is the record owner of 2,000,275 Common Stock as of February 5, 2024 (the “NEA 13 Shares”). As the sole general partner of NEA 13, NEA Partners 13 may be deemed to own beneficially the NEA 13 Shares. As the sole general partner of NEA Partners 13, NEA 13 GP likewise may be deemed to own beneficially the NEA 13 Shares. As the individual directors of NEA 13 GP, each of the Directors also may be deemed to own beneficially the NEA 13 Shares. As an individual member of the Executive Committee, w hich committee has been delegated certain approval rights with respect to dispositions of the NEA 13 Shares by the Directors, each of Florence and Makhzoumi may also be deemed to own beneficially the NEA 13 Shares.

 

(ii)

By virtue of their relationship as affiliated entities, whose controlling entities have overlapping individual controlling persons, each of NEA 13, NEA Partners 13 and NEA 13 LTD may be deemed to share the power to direct the disposition and vote of the NEA 13 Shares.

  

(b)

Percent of Class: See Line 11 of cover sheets. The percentages set forth on the cover sheet for each Reporting Person are calculated based on 30,375,402 Common Stock reported to be outstanding immediately after the closing of an underwritten offering of 9,000,000 shares of Common Stock, on the Issuer’s prospectus filed under Rule 424(b)(4), filed with the SEC on January 29, 2024.

 

(c)

Number of shares as to which such person has:

 

(i)

sole power to vote or to direct the vote: See Line 5 of cover sheets.

 

(ii)

shared power to vote or to direct the vote: See Line 6 of cover sheets.

 

(iii)

sole power to dispose or to direct the disposition of: See Line 7 of cover sheets.

 

(iv)

shared power to dispose or to direct the disposition of: See Line 8 of cover sheets.

 

Each Reporting Person disclaims beneficial ownership of such Securities except for the shares, if any, such Reporting Person holds of record.

 

 

Item 5.

Ownership of Five Percent or Less of a Class.

Not applicable.

 

 

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

 

Not applicable.

 

 

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Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

 

Not applicable.

 

 

Item 8.

Identification and Classification of Members of the Group.

 

Not applicable. The Reporting Persons expressly disclaim membership in a “group” as used in Rule 13d-5(b).

 

 

Item 9.

Notice of Dissolution of Group.

 

Not applicable.

 

 

Item 10.

Certification.

 

Not applicable. This Schedule 13G is not filed pursuant to Rule 13d-1(b) or Rule 13d–1(c).

 

 

Material to be Filed as Exhibits.

 

Exhibit 1 – Agreement regarding filing of joint Schedule 13G.

 

Exhibit 2 – Power of Attorney regarding filings under the Securities Exchange Act of 1934, as amended.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

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SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Date:      February 14, 2024

 

 

NEW ENTERPRISE ASSOCIATES 13, L.P.

 

By:

NEA PARTNERS 13, L.P. General Partner

 

By:

NEA 13 GP, LTD General Partner

 

By:                       *                      

  Scott D. Sandell

  Director

 

 

 

NEA PARTNERS 13, L.P.

 

By:

NEA 13 GP, LTD General Partner

 

By:                        *                      

 Scott D. Sandell

 Director

 

 

  

NEA 13 GP, LTD

 

By:                        *                      

 Scott D. Sandell

 Director

 

 

 

                              *                       

Forest Baskett

 

 

                              *                        

Patrick J. Kerins

 

 

                              *                       

Scott D. Sandell

 

 

 

 

  

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EXECUTIVE COMMITTEE: 

 

 

                              *                       

Anthony A. Florence, Jr.

 

 

                              *                       

Mohamad H. Makhzoumi

 

*By:  /s/ Stephanie Brecher             

           Stephanie Brecher

           As attorney-in-fact

 

This Schedule 13G was executed by Stephanie Brecher on behalf of the individuals listed above pursuant to a Power of Attorney, a copy of which is attached as Exhibit 2.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Exhibit 1

 

AGREEMENT

 

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of shares of stock of Sagimet Biosciences Inc.

 

EXECUTED this 14^th day of February, 2024.

 

 

NEW ENTERPRISE ASSOCIATES 13, L.P.

 

By:

NEA PARTNERS 13, L.P. General Partner

 

By:

NEA 13 GP, LTD General Partner

 

By:                       *                      

  Scott D. Sandell

  Director

 

 

 

NEA PARTNERS 13, L.P.

 

By:

NEA 13 GP, LTD General Partner

 

By:                        *                      

 Scott D. Sandell

 Director

 

 

  

NEA 13 GP, LTD

 

By:                        *                      

 Scott D. Sandell

 Director

 

 

 

                              *                       

Forest Baskett

 

 

                              *                        

Patrick J. Kerins

 

 

                              *                       

Scott D. Sandell

 

 

 

 

 

CUSIP No.  786700104

13G

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EXECUTIVE COMMITTEE: 

 

 

                              *                       

Anthony A. Florence, Jr.

 

 

                              *                       

Mohamad H. Makhzoumi

 

*By:  /s/ Stephanie Brecher             

           Stephanie Brecher

           As attorney-in-fact

 

 

This Agreement was executed by Stephanie Brecher on behalf of the individuals listed above pursuant to a Power of Attorney, a copy of which is attached as Exhibit 2.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CUSIP No.  786700104

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Exhibit 2

 

POWER OF ATTORNEY

 

KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes and appoints Louis S. Citron, Timothy Schaller, Sasha Keough and Stephanie Brecher, and each of them, with full power to act without the others, his or her true and lawful attorney-in-fact, with full power of substitution, to sign any and all instruments, certificates and documents that may be necessary, desirable or appropriate to be executed on behalf of himself as an individual or in his or her capacity as a direct or indirect general partner, director, officer or manager of any partnership, corporation or limited liability company, pursuant to section 13 or 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any and all regulations promulgated thereunder, and to file the same, with all exhibits thereto, and any other documents in connection therewith, with the Securities and Exchange Commission, and with any other entity when and if such is mandated by the Exchange Act or by the Financial Industry Regulatory Authority, granting unto said attorney-in-fact full power and authority to do and perform each and every act and thing necessary, desirable or appropriate, fully to all intents and purposes as he or she might or could do in person, thereby ratifying and confirming all that said attorney-in-fact, or his or her substitutes, may lawfully do or cause to be done by virtue hereof.

 

IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 13th day of March, 2017.

 

 

/s/ M. James Barrett                    

M. James Barrett

 

/s/ Peter J. Barris                            

Peter J. Barris

 

/s/ Forest Baskett                         

Forest Baskett

 

/s/ Ali Behbahani                         

Ali Behbahani

 

/s/ Colin Bryant                            

Colin Bryant

 

/s/ Carmen Chang                        

Carmen Chang

 

/s/ Anthony A. Florence, Jr.      

Anthony A. Florence, Jr.

 

/s/ Carol G. Gallagher                  

Carol G. Gallagher

 

/s/ Dayna Grayson                       

Dayna Grayson

 

/s/ Patrick J. Kerins                      

Patrick J. Kerins

 

 

 

 

 

 

 

  

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/s/ P. Justin Klein                         

P. Justin Klein

 

/s/ Vanessa Larco                        

Vanessa Larco

 

/s/ Joshua Makower                    

Joshua Makower

 

/s/ Mohamad H. Makhzoumi    

Mohamad H. Makhzoumi

 

/s/ Edward T. Mathers                

Edward T. Mathers

 

/s/ David M. Mott                        

David M. Mott

 

/s/ Sara M. Nayeem                     

Sara M. Nayeem

 

/s/ Jason R. Nunn                        

Jason R. Nunn

 

/s/ Gregory Papadopoulos         

Gregory Papadopoulos

 

/s/ Chetan Puttagunta                 

Chetan Puttagunta

 

/s/ Jon Sakoda                              

Jon Sakoda

 

/s/ Scott D. Sandell                      

Scott D. Sandell

 

/s/ A. Brooke Seawell                 

A. Brooke Seawell

 

/s/ Peter W. Sonsini                     

Peter W. Sonsini

 

/s/ Melissa Taunton                    

Melissa Taunton

 

/s/ Frank M. Torti                        

Frank M. Torti

 

/s/ Ravi Viswanathan                  

Ravi Viswanathan

 

/s/ Paul E. Walker                         

Paul E. Walker

 

/s/ Rick Yang                                

Rick Yang