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 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Equillium, Inc.
(Name of Issuer)
Common stock, $0.0001 par value per share
(Title of Class of Securities)
29446K106
(CUSIP Number)
September 30, 2024
(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) |
| x | Rule 13d-1(c) |
| ¨ | Rule 13d-1(d) |
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in 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. 29446K106 | |||
| 1. |
Names of Reporting Persons
Decheng Capital Global Life Sciences Fund IV, L.P. | ||
| 2. |
Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ¨ (b) x (1) | ||
| 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 | |
| 6. |
Shared Voting Power
4,271,423 (2) | ||
| 7. |
Sole Dispositive Power
0 | ||
| 8. |
Shared Dispositive Power
4,271,423 (2) | ||
| 9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
4,271,423 (2) | ||
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨ | ||
| 11. |
Percent of Class Represented by Amount in Row (9)
11.7% (3) | ||
| 12. |
Type of Reporting Person (See Instructions)
PN | ||
| (1) | This Schedule 13G is filed by Decheng Capital Global Life Sciences Fund IV, L.P. (“Fund IV”), Decheng Capital Management IV (Cayman), LLC (“GP IV”), Decheng Capital Global Healthcare Fund (Master), LP (“Healthcare”), Decheng Capital Global Healthcare GP, LLC (“Healthcare GP”) and Xiangmin Cui (“Dr. Cui” and, with Fund IV, GP IV, Healthcare and Healthcare GP, collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G. |
| (2) | Consists of (i) 3,285,710 shares of the Issuer’s Common Stock held directly by Fund IV and (ii) 985,713 shares of Common Stock issuable upon exercise of immediately exercisable warrants (the “Warrants”) held by Fund IV. GP IV is the general partner of Fund IV and Dr. Cui is the sole voting manager of GP IV. Fund IV, GP IV and Dr. Cui may be deemed to share voting and dispositive power with respect to the shares held directly by Fund IV. |
| (3) | This calculation is based on 35,424,388 shares of Common Stock outstanding as of August 5, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Ex change Commission (the “SEC”) on August 8, 2024, and 985,713 shares of Common Stock issuable upon exercise of the Warrants held by Fund IV. |
2
| CUSIP No. 29446K106 | |||
| 1. |
Names of Reporting Persons
Decheng Capital Management IV (Cayman), LLC | ||
| 2. |
Check the Appropriate Box if a Member of a Group (See Instructions) (a) ¨ (b) x (1) | ||
| 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 | |
| 6. |
Shared Voting Power
4,271,423 (2) | ||
| 7. |
Sole Dispositive Power
0 | ||
| 8. |
Shared Dispositive Power
4,271,423 (2) | ||
| 9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
4,271,423 (2) | ||
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨ | ||
| 11. |
Percent of Class Represented by Amount in Row (9)
11.7% (3) | ||
| 12. |
Type of Reporting Person (See Instructions)
OO | ||
| (1) | This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G. |
| (2) | Consists of (i) 3,285,710 shares of the Issuer’s Common Stock held directly by Fund IV and (ii) 985,713 shares of Common Stock issuable upon exercise the Warrants held by Fund IV. GP IV is the general partner of Fund IV and Dr. Cui is the sole voting manager of GP IV. Fund IV, GP IV and Dr. Cui may be deemed to share voting and dispositive power with respect to the shares held directly by Fund IV. |
| (3) | This calculation is based on 35,424,388 shares of Common Stock outstanding as of August 5, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024, and 985,713 shares of Common Stock issuable upon exercise of the Warrants held by Fund IV. |
3
| CUSIP No. 29446K106 | |||
| 1. |
Names of Reporting Persons
Decheng Capital Global Healthcare Fund (Master), LP | ||
| 2. |
Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ¨ (b) x (1) | ||
| 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 | |
| 6. |
Shared Voting Power
1,461,598 (2) | ||
| 7. |
Sole Dispositive Power
0 | ||
| 8. |
Shared Dispositive Power
1,461,598 (2) | ||
| 9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,461,598 (2) | ||
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨ | ||
| 11. |
Percent of Class Represented by Amount in Row (9)
4.1% (3) | ||
| 12. |
Type of Reporting Person (See Instructions)
PN | ||
| (1) | This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G. |
| (2) | Consists of (i) 1,161,598 shares of the Issuer’s Common Stock held directly by Healthcare and (ii) 300,000 shares of Common Stock issuable upon exercise the Warrants held by Healthcare. Healthcare GP is the general partner of Healthcare and Dr. Cui is the indirect managing member and ultimate beneficial owner of Healthcare GP. Healthcare, Healthcare GP and Dr. Cui may be deemed to share voting and dispositive power with respect to the shares held directly by Healthcare. |
| (3) | This calculation is based on 35,424,388 shares of Common Stock outstanding as of August 5, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024, and 300,000 shares of Common Stock issuable upon exercise of the Warrants held by Healthcare. |
4
| CUSIP No. 29446K106 | |||
| 1. |
Names of Reporting Persons
Decheng Capital Global Healthcare GP, LLC | ||
| 2. |
Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ¨ (b) x (1) | ||
| 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 | |
| 6. |
Shared Voting Power
1,461,598 (2) | ||
| 7. |
Sole Dispositive Power
0 | ||
| 8. |
Shared Dispositive Power
1,461,598 (2) | ||
| 9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,461,598 (2) | ||
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨ | ||
| 11. |
Percent of Class Represented by Amount in Row (9)
4.1% (3) | ||
| 12. |
Type of Reporting Person (See Instructions)
OO | ||
| (1) | This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G. |
| (2) | Consists of (i) 1,161,598 shares of the Issuer’s Common Stock held directly by Healthcare and (ii) 300,000 shares of Common Stock issuable upon exercise the Warrants held by Healthcare. Healthcare GP is the general partner of Healthcare and Dr. Cui is the indirect managing member and ultimate beneficial owner of Healthcare GP. Healthcare, Healthcare GP and Dr. Cui may be deemed to share voting and dispositive power with respect to the shares held directly by Healthcare. |
| (3) | This calculation is based on 35,424,388 shares of Common Stock outstanding as of August 5, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024 and 300,000 shares of Common Stock issuable upon exercise of the Warrants held by Healthcare. |
5
| CUSIP No. 29446K106 | |||
| 1. |
Names of Reporting Persons
Xiangmin Cui | ||
| 2. |
Check the Appropriate Box if a Member of a Group (See Instructions) (a) ¨ (b) x (1) | ||
| 3. | SEC Use Only | ||
| 4. |
Citizenship or Place of Organization
United States | ||
|
Number of Shares Beneficially Owned by Each Reporting Person With |
5. |
Sole Voting Power
0 | |
| 6. |
Shared Voting Power
5,733,021 (2) | ||
| 7. |
Sole Dispositive Power
0 | ||
| 8. |
Shared Dispositive Power
5,733,021 (2) | ||
| 9. |
Aggregate Amount Beneficially Owned by Each Reporting Person
5,733,021 (2) | ||
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨ | ||
| 11. |
Percent of Class Represented by Amount in Row (9)
15.6% (3) | ||
| 12. |
Type of Reporting Person (See Instructions)
IN | ||
| (1) | This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G. |
| (2) | Consists of (i) 3,285,710 shares of the Issuer’s Common Stock held directly by Fund IV; (ii) 985,713 shares of Common Stock issuable upon exercise the Warrants held by Fund IV; (iii) 1,161,598 shares of the Issuer’s Common Stock held directly by Healthcare; and (iv) 300,000 shares of Common Stock issuable upon exercise the Warrants held by Healthcare. GP IV is the general partner of Fund IV and Dr. Cui is the sole voting manager of GP IV. Fund IV, GP IV and Dr. Cui may be deemed to share voting and dispositive power with respect to the shares held directly by Fund IV. Healthcare GP is the general partner of Healthcare and Dr. Cui is the indirect managing member and ultimate beneficial owner of Healthcare GP. Healthcare, Healthcare GP and Dr. Cui may be deemed to share voting and dispositive power with respect to the shares held directly by Healthcare. |
| (3) | This calculation is based on 35,424,388 shares of Common Stock outstanding as of August 5, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024 and 1,285,713 shares of Common Stock issuable upon exercise of the Warrants held by Fund IV and Healthcare. |
6
Explanatory Note: This Amendment No. 1 to Schedule 13G amends the Schedule 13G originally filed by the Decheng Capital Management III (Cayman), LLC on February 14, 2022.
7
| Item 1. | ||
| (a) |
Name of Issuer
Equillium, Inc. | |
| (b) |
Address of Issuer’s Principal Executive Offices
2223 Avenida de la Playa, Suite 105, La Jolla, CA 92037 | |
| Item 2. | ||
| (a) |
Name of Person Filing Decheng Capital Global Life Sciences Fund IV, L.P. (“Fund IV”) Decheng Capital Management IV (Cayman), LLC (“GP IV”) Decheng Capital Global Healthcare Fund (Master), LP (“Healthcare”) Decheng Capital Global Healthcare GP, LLC (“Healthcare GP”) Xiangmin Cui (“Dr. Cui”) | |
| (b) |
Address of Principal Business Office or, if none, Residence
3000 Sand Hill Road, Building 2, Suite 110, Menlo Park, CA 94025 | |
| (c) | Citizenship | ||||
| Entities: | Fund IV | - | Cayman Islands | ||
| GP IV | - | Cayman Islands | |||
| Healthcare | - | Cayman Islands | |||
| Healthcare GP | - | Cayman Islands | |||
| Individuals: | Dr. Cui | - | United States | ||
| (d) |
Title of Class of Securities Common Stock, $0.0001 par value (“Common Stock”) | |
| (e) |
CUSIP Number 29446K106 | |
| 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 | ||
8
| Item 4. | Ownership |
The following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1 is provided as of September 30, 2024:
| Reporting Persons | Shares Held Directly | Sole Voting Power | Shared Voting Power | Sole Dispositive Power |
Shared Dispositive Power | Beneficial Ownership | Percentage of Class (3) | ||||||||||||||
| Fund IV (1) | 4,271,423 | 4,271,423 | 4,271,423 | 4,271,423 | 11.7 | % | |||||||||||||||
| GP IV (1) | 4,271,423 | 4,271,423 | 4,271,423 | 11.7 | % | ||||||||||||||||
| Healthcare (2) | 1,461,598 | 1,461,598 | 1,461,598 | 1,461,598 | 4.1 | % | |||||||||||||||
| Healthcare GP (2) | 1,461,598 | 1,461,598 | 1,461,598 | 4.1 | % | ||||||||||||||||
| Dr. Cui (1) (2) | 0; | 5,733,021 | 5,733,021 | 5,733,021 | 15.6 | % | |||||||||||||||
| (1) | Consists of (i) 3,285,710 shares of the Issuer’s Common Stock held directly by Fund IV and (ii) 985,713 shares of Common Stock issuable upon exercise the Warrants held by Fund IV. GP IV is the general partner of Fund IV and Dr. Cui is the sole voting manager of GP IV. Fund IV, GP IV and Dr. Cui may be deemed to share voting and dispositive power with respect to the shares held directly by Fund IV. |
| (2) | Consists of (i) 1,161,598 shares of the Issuer’s Common Stock held directly by Healthcare and (ii) 300,000 shares of Common Stock issuable upon exercise the Warrants held by Healthcare. Healthcare GP is the general partner of Healthcare and Dr. Cui is the indirect managing member and ultimate beneficial owner of Healthcare GP. Healthcare, Healthcare GP and Dr. Cui may be deemed to share voting and dispositive power with respect to the shares held directly by Healthcare. |
| (3) | These calculations are based on 35,424,388 shares of Common Stock outstanding as of August 5, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024, and shares of Common Stock issuable upon exercise of the Warrants, as applicable. |
| Item 5. | Ownership of Five Percent or Less of a Class |
| If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨ | |
| Item 6. | Ownership of More than Five Percent on Behalf of Another Person |
| Not applicable | |
| 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 | |
| Item 9. | Notice of Dissolution of Group |
| Not applicable | |
| Item 10. | Certification |
| By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. | |
9
Signature
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.
Dated: November 14, 2024
| Decheng Capital Global Life Sciences Fund IV, L.P. | ||
| By its General Partner | ||
| Decheng Capital Management IV (Cayman), LLC | ||
| By: | /s/ Xiangmin Cui | |
| Name: | Xiangmin Cui | |
| Title: | Manager | |
| Decheng Capital Management IV (Cayman), LLC | ||
| By: | /s/ Xiangmin Cui | |
| Name: | Xiangmin Cui | |
| Title: | Manager | |
| Decheng Capital Global Healthcare Fund (Master), LP | ||
| By its General Partner | ||
| Decheng Capital Global Healthcare GP, LLC | ||
| By its Manager | ||
| Decheng Capital, LLC | ||
| By: | /s/ Xiangmin Cui | |
| Name: | Xiangmin Cui | |
| Title: | Manager | |
| Decheng Capital Global Healthcare GP, LLC | ||
| By its Manager | ||
| Decheng Capital, LLC | ||
| By: | /s/ Xiangmin Cui | |
| Name: | Xiangmin Cui | |
| Title: | Manager | |
| /s/ Xiangmin Cui | ||
| ATTENTION | ||
| Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001). | ||
10
Exhibit(s):
| A | Joint Filing Agreement |
11
EXHIBIT A
We, the undersigned, hereby express our agreement that the attached Schedule 13G (or any amendments thereto) relating to the Common Stock of Equillium, Inc. is filed on behalf of each of us.
Dated: November 14, 2024
| Decheng Capital Global Life Sciences Fund IV, L.P. | ||
| By its General Partner | ||
| Decheng Capital Management IV (Cayman), LLC | ||
| By: | /s/ Xiangmin Cui | |
| Name: | Xiangmin Cui | |
| Title: | Manager | |
| Decheng Capital Management IV (Cayman), LLC | ||
| By: | /s/ Xiangmin Cui | |
| Name: | Xiangmin Cui | |
| Title: | Manager | |
| Decheng Capital Global Healthcare Fund (Master), LP | ||
| By its General Partner | ||
| Decheng Capital Global Healthcare GP, LLC | ||
| By its Manager | ||
| Decheng Capital, LLC | ||
| By: | /s/ Xiangmin Cui | |
| Name: | Xiangmin Cui | |
| Title: | Manager | |
| Decheng Capital Global Healthcare GP, LLC | ||
| By its Manager | ||
| Decheng Capital, LLC | ||
| By: | /s/ Xiangmin Cui | |
| Name: | Xiangmin Cui | |
| Title: | Manager | |
| /s/ Xiangmin Cui | ||