Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)*
Passage BIO, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
702712 100
(CUSIP Number)
Steve R. Bailey
601 Union Street, Suite 3200
Seattle, WA 98101
Telephone: (206) 621-7200
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
August 11, 2022
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 702712 100
1. |
Name of Reporting Persons.
Frazier Life Sciences IX, L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
| |||||
3. | SEC USE ONLY
| |||||
4. | Source of Funds (See Instructions)
WC | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With: |
7. | Sole Voting Power
0 shares | ||||
8. | Shared Voting Power
3,756,915 shares (1) | |||||
9. | Sole Dispositive Power
0 shares | |||||
10. | & #xA0;Shared Dispositive Power
3,756,915 shares (1) |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
3,756,915 shares (1) | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
☐ | |||||
13. | Percent of Class Represented by Amount in Row (11)
6.9% (2) | |||||
14. | Type of Reporting Person (See Instructions)
PN |
(1) | Consists of 3,756,915 shares of Common Stock held directly by Frazier Life Sciences IX, L.P. FHMLS IX, L.P. is the general partner of Frazier Life Sciences IX, L.P. and FHMLS IX, L.L.C. is the general partner of FHMLS IX, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS IX, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences IX, L.P. |
(2) | Based on 54,463,235 shares of Common Stock that were outstanding as of August 1, 2022 as set forth in the Issuers Quarterly Report on Form 10-Q filed with the SEC on August 4, 2022. |
Page 2
CUSIP No. 702712 100
1. |
Name of Reporting Persons.
FHMLS IX, L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
| |||||
3. | SEC USE ONLY
| |||||
4. | Source of Funds (See Instructions)
AF | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With: |
7. | Sole Voting Power
0 shares | ||||
8. | Shared Voting Power
3,756,915 shares (1) | |||||
9. | Sole Dispositive Power
0 shares | |||||
10. | Shared Dispositive Power
3,756,915 shares (1) |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
3,756,915 shares (1) | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
☐ | |||||
13. | Percent of Class Represented by Amount in Row (11)
6.9% (2) | |||||
14. | Type of Reporting Person (See Instructions)
PN |
(1) | Consists of 3,756,915 shares of Common Stock held directly by Frazier Life Sciences IX, L.P. FHMLS IX, L.P. is the general partner of Frazier Life Sciences IX, L.P. and FHMLS IX, L.L.C. is the general partner of FHMLS IX, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS IX, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences IX, L.P. |
(2) | Based on 54,463,235 shares of Common Stock that were outstanding as of August 1, 2022 as set forth in the Issuers Quarterly Report on Form 10-Q filed with the SEC on August 4, 2022. |
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CUSIP No. 702712 100
1. |
Name of Reporting Persons.
FHMLS IX, L.L.C. | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
| |||||
3. | SEC USE ONLY
| |||||
4. | Source of Funds (See Instructions)
AF | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or Place of Organization
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With: |
7. | Sole Voting Power
0 shares | ||||
8. | Shared Voting Power
3,756,915 shares (1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
3,756,915 shares (1) |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
3,756,915 shares (1) | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
☐ | |||||
13. | Percent of Class Represented by Amount in Row (11)
6.9% (2) | |||||
14. | Type of Reporting Person (See Instructions)
OO |
(1) | Consists of 3,756,915 shares of Common Stock held directly by Frazier Life Sciences IX, L.P. FHMLS IX, L.P. is the general partner of Frazier Life Sciences IX, L.P. and FHMLS IX, L.L.C. is the general partner of FHMLS IX, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS IX, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences IX, L.P. |
(2) | Based on 54,463,235 shares of Common Stock that were outstanding as of August 1, 2022 as set forth in the Issuers Quarterly Report on Form 10-Q filed with the SEC on August 4, 2022. |
Page 4
CUSIP No. 702712 100
1. |
Name of Reporting Persons.
James N. Topper | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
| |||||
3. | SEC USE ONLY
| |||||
4. | Source of Funds (See Instructions)
AF | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or Place of Organization
United States Citizen |
Number of Shares Beneficially Owned by Each Reporting Person With: |
7. | Sole Voting Power
0 shares | ||||
8. | Shared Voting Power
3,756,915 shares (1) | |||||
9. | Sole Dispositive Power
0 shares | |||||
10. | Shared Dispositive Power
3,756,915 shares (1) |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
3,756,915 shares (1) | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
☐ | |||||
13. | Percent of Class Represented by Amount in Row (11)
6.9% (2) | |||||
14. | Type of Reporting Person (See Instructions)
IN |
(1) | Consists of 3,756,915 shares of Common Stock held directly by Frazier Life Sciences IX, L.P. FHMLS IX, L.P. is the general partner of Frazier Life Sciences IX, L.P. and FHMLS IX, L.L.C. is the general partner of FHMLS IX, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS IX, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences IX, L.P. |
(2) | Based on 54,463,235 shares of Common Stock that were outstanding as of August 1, 2022 as set forth in the Issuers Quarterly Report on Form 10-Q filed with the SEC on August 4, 2022. |
Page 5
CUSIP No. 702712 100
1. |
Name of Reporting Persons.
Patrick J. Heron | |||||
2. | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
| |||||
3. | SEC USE ONLY
| |||||
4. | Source of Funds (See Instructions)
AF | |||||
5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
☐ | |||||
6. | Citizenship or Place of Organization
United States Citizen |
Number of Shares Beneficially Owned by Each Reporting Person With: |
7. | Sole Voting Power
0 shares | ||||
8. | Shared Voting Power
3,756,915 shares (1) | |||||
9. | Sole Dispositive Power
0 shares | |||||
10. | Shared Dispositive Power
3,756,915 shares (1) |
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
3,756,915 shares (1) | |||||
12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
☐ | |||||
13. | Percent of Class Represented by Amount in Row (11)
6.9% (2) | |||||
14. | Type of Reporting Person (See Instructions)
IN |
(1) | Consists of 3,756,915 shares of Common Stock held directly by Frazier Life Sciences IX, L.P. FHMLS IX, L.P. is the general partner of Frazier Life Sciences IX, L.P. and FHMLS IX, L.L.C. is the general partner of FHMLS IX, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS IX, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences IX, L.P. |
(2) | Based on 54,463,235 shares of Common Stock that were outstanding as of August 1, 2022 as set forth in the Issuers Quarterly Report on Form 10-Q filed with the SEC on August 4, 2022. |
Page 6
CUSIP No. 702712 100
Item 1. Security and Issuer.
This Amendment No. 2 (Amendment No. 1) to Schedule 13D amends the statement on Schedule 13D filed on March 9, 2020 (the Original Schedule 13D), as amended on January 27, 2021 (the Prior Amendment, and together with the Original Schedule 13D and this Amendment No. 2, the Schedule 13D) with respect to the Common Stock of Passage BIO, Inc. (the Issuer), having its principal executive office at One Commerce Square, 2005 Market Street, 39th Floor, Philadelphia, PA 19103. Except as otherwise specified in Amendment No. 2, all items in the Original Schedule 13D, as amended by the Prior Amendment, are unchanged. All capitalized terms used in this Amendment No. 2 and not otherwise defined herein have the meanings ascribed to such terms in the Original Schedule 13D, as amended by the Prior Amendment.
Item 2. Identity and Background
(a) | Name: |
The entities and persons filing this statement (collectively, the Reporting Persons) are:
Frazier Life Sciences IX, L.P. (FLS IX)
FHMLS IX, L.P.
FHMLS IX, L.L.C.
James N. Topper (Topper)
Patrick J. Heron (Heron and together with Topper, the Members)
(b) | Residence or Business Address: |
The address of the principal place of business for each of the Reporting Persons is:
c/o Frazier Life Sciences Management, L.P.
70 Willow Road, Suite 200
Menlo Park, CA 94025
(c) | Present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted: |
FLS IX is a venture capital fund concentrating in life sciences and related fields. The sole business of FHMLS IX, L.P. is to serve as general partner of FLS IX. The sole business of FHMLS IX, L.L.C. is to serve as general partner of FHMLS IX, L.P. The principal business of the Members is to manage FLS IX, FHMLS IX, L.P., FHMLS IX, L.L.C. and a number of affiliated partnerships with similar businesses.
(d) | Whether or not, during the last five years, such person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) and, if so, give the dates, nature of conviction, name and location of court, and penalty imposed, or other disposition of the case: |
During the last five years, none of the Reporting Persons has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).
Page 7
(e) | Whether or not, during the last five years, such person was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws; and, if so, identify and describe such proceedings and summarize the terms of such judgment, decree or final order: |
During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) | Citizenship: |
Entities: | FLS IX | - | Delaware, U.S.A. | |||||||||
FHMLS IX, L.P. | - | Delaware, U.S.A. | ||||||||||
FHMLS IX, L.L.C. | - | Delaware, U.S.A. | ||||||||||
Individuals: | Topper | - | United States Citizen | |||||||||
Heron | - | United States Citizen |
Item 5. Interest in Securities of the Issuer
(a) | State the aggregate number and percentage of the class of securities identified pursuant to Item 1 (which may be based on the number of securities outstanding as contained in the most recently available filing with the Commission by the issuer unless the filing person has reason to believe such information is not current) beneficially owned (identifying those shares which there is a right to acquire) by each person named in Item 2. The information should also be furnished with respect to persons who, together with any of the persons named in Item 2, comprise a group within the meaning of Section 13(d)(3) of the Act: |
FLS IX is the record owners of the 3,756,915 shares of Common Stock of the Issuer as of the date of this filing (the FLS Shares). As the sole general partner of FLS IX, FHMLS IX, L.P. may be deemed to beneficially own the FLS Shares. As the sole general partner of FHMLS IX, L.P., FHMLS IX, L.L.C. may be deemed to beneficially own the FLS Shares. As members of FHMLS IX, L.L.C., each of the Members may be deemed to beneficially own the FLS Shares.
The percentage of outstanding Common Stock of the Issuer, which may be deemed to be beneficially owned by each Reporting Person, is set forth on Line 13 of such Reporting Persons cover sheet. Such percentage was calculated based on the 54,463,235 shares of Common Stock that were outstanding as of August 1, 2022 as set forth in the Issuers Quarterly Report on Form 10-Q filed with the SEC on August 4, 2022.
(b) | For each person named in response to paragraph (a), indicate the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition. Provide the applicable information required by Item 2 with respect to each person with whom the power to vote or to direct the vote or to dispose or direct the disposition is shared: |
Regarding the number of shares as to which such person has:
Page 8
a. | Sole power to vote or to direct the vote: See line 7 of cover sheets. |
b. | Shared power to vote or to direct the vote: See line 8 of cover sheets. |
c. | Sole power to dispose or to direct the disposition: See line 9 of cover sheets. |
d. | Shared power to dispose or to direct the disposition: See line 10 of cover sheets. |
(c) | Describe any transactions in the class of securities reported on that were effected during the past sixty days or since the most recent filing of Schedule 13D (§240.13d-191), whichever is less, by the persons named in response to paragraph (a): |
Information with respect to transactions in the Securities which were effected within the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by the Reporting Persons is set forth below.
FLS IX:
Date of Transaction |
Type of Transaction |
Quantity | Class of Stock | Price Per Share (excluding commissions) |
||||||
8/9/2022 |
Sale | 150,185 | Common Stock | $ | 2.0659 | * | ||||
8/10/2022 |
Sale | 102,119 | Common Stock | $ | 2,002 | * | ||||
8/11/2022 |
Sale | 1,000,000 | Common Stock | $ | 2.0091 | * |
* | Reflects the weighted average price per share. |
FHMLS IX, L.P.:
Date of Transaction |
Type of Transaction |
Quantity |
Class of Stock |
Price Per Share (excluding commissions) | ||||
N/A | N/A | N/A | N/A | N/A |
FHMLS IX, L.L.C:
Date of Transaction |
Type of Transaction |
Quantity |
Class of Stock |
Price Per Share (excluding commissions) | ||||
N/A | N/A | N/A | N/A | N/A |
Topper:
Date of Trans action |
Type of Transaction |
Quantity |
Class of Stock |
Price Per Share (excluding commissions) | ||||
N/A | N/A | N/A | N/A | N/A |
Heron:
Page 9
Date of Transaction |
Type of Transaction |
Quantity |
Class of Stock |
Price Per Share (excluding commissions) | ||||
N/A | N/A | N/A | N/A | N/A |
(d) | If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of an employee benefit plan, pension fund or endowment fund is not required: |
No other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, the FLS Shares beneficially owned by any of the Reporting Persons.
(e) | If applicable, state the date on which the reporting person ceased to be the beneficial owner of more than five percent of the class of securities: |
Not applicable.
Page 10
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: August 15, 2022 | FRAZIER LIFE SCIENCES IX, L.P. | |||||
By FHMLS IX, L.P., its general partner | ||||||
By FHMLS IX, L.L.C., its general partner | ||||||
By: | /s/ Steve R. Bailey | |||||
Steve R. Bailey, Chief Financial Officer | ||||||
Date: August 15, 2022 | FHMLS IX, L.P. | |||||
By FHMLS IX, L.L.C., its general partner | ||||||
By: | /s/ Steve R. Bailey | |||||
Steve R. Bailey, Chief Financial Officer | ||||||
Date: August 15, 2022 | FHMLS IX, L.L.C. | |||||
By: | /s/ Steve R. Bailey | |||||
Steve R. Bailey, Chief Financial Officer | ||||||
Date: August 15, 2022 | By: | * | ||||
James Topper | ||||||
Date: August 15, 2022 | By: | * | ||||
Patrick Heron | ||||||
Date: August 15, 2022 | *By: | /s/ Steve R. Bailey | ||||
Steve R. Bailey, as Attorney-in-Fact |
This Schedule 13D was executed by Steve R. Bailey on behalf of the individuals listed above pursuant to a Power of Attorney, a copy of which was filed with the SEC on July 31, 2017.
Page 11