Form SC 13G - Statement of acquisition of beneficial ownership by individuals
01 Dicembre 2023 - 10:15PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
SCHEDULE
13G
Under
the Securities Exchange Act of 1934
(Amendment
No. )*
Spyre
Therapeutics, Inc.
(Name
of Issuer)
Common
Stock, $0.0001 par value per share
(Title
of Class of Securities)
00773J202
(CUSIP
Number)
November
24, 2023
(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) |
*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. 00773J202 |
SCHEDULE 13G |
1 |
NAME
OF REPORTING PERSONS
Commodore
Capital LP |
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
☐
(b)
☐ |
3 |
SEC
USE ONLY
|
4 |
CITIZENSHIP
OR PLACE OF ORGANIZATION
Delaware,
USA |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH |
5 |
SOLE
VOTING POWER
0 |
6 |
SHARED
VOTING POWER
1,834,084* |
7 |
SOLE
DISPOSITIVE POWER
0 |
8 |
SHARED
DISPOSITIVE POWER
1,834,084* |
9 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,834,084* |
10 |
CHECK
IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
11 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%* |
12 |
TYPE
OF REPORTING PERSON
IA |
*See
Item 4 for additional information.
CUSIP
No. 00773J202 |
SCHEDULE
13G |
1 |
NAME
OF REPORTING PERSONS
Commodore
Capital Master LP |
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 |
6 |
SHARED
VOTING POWER
1,834,084* |
7 |
SOLE
DISPOSITIVE POWER
0 |
8 |
SHARED
DISPOSITIVE POWER
1,834,084* |
9 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,834,084* |
10 |
CHECK
IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
☐ |
11 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.1%* |
12 |
TYPE
OF REPORTING PERSON
OO |
*See
Item 4 for additional information.
CUSIP
No. 00773J202 |
SCHEDULE
13G |
Item
1. |
(a)
Name of Issuer |
Spyra
Therapeutics, Inc. (the “Issuer”)
Item
1. |
(b)
Address of Issuer’s Principal Executive Offices |
221
Crescent Street, Building 23, Suite 105, Waltham, Massachusetts
Item
2. |
(a,
b, c) Names of Person Filing, Address of Principal Business Office, Citizenship: |
|
|
|
This
report on Schedule 13G is being filed by Commodore Capital LP, a Delaware limited partnership (the “Firm”) and Commodore
Capital Master LP, a Cayman Islands exempted limited partnership (“Commodore Master”). The address for the Firm and Commodore
Master is: 444 Madison Avenue, Floor 35, New York, New York 10022. |
Item
2. |
(d)
Title of Class of Securities |
Common
Stock, $0.0001 par value per share (the “Common Stock”)
00773J202
Item
3. |
If
this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person filing is a: |
N/A
CUSIP
No. 00773J202 |
SCHEDULE
13G |
As
reported in the cover pages to this report, the ownership information with respect to the Firm is as follows: |
|
(a)
Amount Beneficially Owned: 1,834,084* |
|
(b)
Percent of Class: 6.1%* |
|
(c)
Number of Shares as to which such person has: |
|
(i)
Sole power to vote or to direct the vote: 0 |
|
|
|
(ii)
Shared power to vote or to direct the vote: 1,834,084* |
|
|
|
(iii)
Sole power to dispose or to direct the disposition of: 0 |
|
|
|
(iv)
Shared power to dispose or to direct the disposition of: 1,834,084* |
As
reported in the cover pages to this report, the ownership information with respect to Commodore Master is as follows:
(a)
Amount Beneficially Owned: 1,834,084* |
|
(b)
Percent of Class: 6.1%* |
|
(c)
Number of Shares as to which such person has: |
|
(i)
Sole power to vote or to direct the vote: 0 |
|
|
|
(ii)
Shared power to vote or to direct the vote: 1,834,084* |
|
|
|
(iii)
Sole power to dispose or to direct the disposition of: 0 |
|
|
|
(iv)
Shared power to dispose or to direct the disposition of: 1,834,084* |
*On
June 22, 2023, the Issuer (formerly known as Aeglea BioTherapeutics, Inc.) entered into a Securities Purchase Agreement (the “Purchase
Agreement”) with the purchasers named therein. Pursuant to the Purchase Agreement, the Issuer agreed to sell an aggregate of 721,452
shares of Series A Non-Voting Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”).
Each share of Series A Preferred Stock was convertible into 1,000 shares of Common Stock, subject to stockholder approval of supporting
proposals.
On
September 28, 2023, the Issuer effected a reverse stock split of its Common Stock at a ratio of 1-for-25, whereby every 25 shares of
Common Stock outstanding were combined, automatically and without any action on the part of the Issuer or its stockholders, into one
new share of Common Stock. Proportionate adjustments were made to the conversion ratio of the Series A Preferred Stock in accordance
with the terms of the Certificate of Designation of Preferences, Rights and Limitations of the Series A Non-Voting Convertible Preferred
Stock, dated June 22, 2023 (the “Certificate of Designation”).
On
November 21, 2023, requisite stockholder approval was obtained to effectuate the conversion of the Series A Preferred Stock. On November
24, 2023, following stockholder approval and pursuant to the terms of the Certificate of Designation, each share of Series A Preferred
Stock automatically converted into 40 shares of Common Stock, subject to beneficial ownership limitations.
As
of November 24, 2023, Commodore Master owns (i) 1,717,760 shares of Common Stock that converted from 42,944 shares of Series A Preferred
Stock and (ii) 116,324 shares of Common Stock.
The
Firm is the investment manager to Commodore Master. As of November 24, 2023, the Firm may be deemed to beneficially own an aggregate
of 1,834,084 shares of Common Stock of the Issuer. The Firm, as the investment manager to Commodore Master, may be deemed to beneficially
own these securities. Michael Kramarz and Robert Egen Atkinson are the managing partners of the Firm and exercise investment discretion
with respect to these securities. Ownership percentages are based on 30,021,007 shares of Common Stock outstanding on November 24, 2023,
as reported directly by the Issuer to the Firm.
CUSIP
No. 00773J202 |
SCHEDULE
13G |
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 that purpose or effect. |
CUSIP No. 00773J202 |
SCHEDULE 13G |
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:
December 1, 2023
Commodore Capital LP |
|
|
|
|
By: |
/s/ Michael
Kramarz |
|
Michael Kramarz, Managing Partner |
|
|
|
|
Commodore Capital Master LP |
|
|
|
|
By: |
/s/ Michael
Kramarz |
|
Michael Kramarz, Authorized Signatory |
|
Exhibit
1
JOINT
FILING AGREEMENT
The
undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned, and that
all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity
of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of
such amendments, and for the completeness and accuracy of the information concerning it contained therein, but shall not be responsible
for the completeness and accuracy of the information concerning the other, except to the extent that it knows or has reason to believe
that such information is inaccurate.
Dated:
December 1, 2023
Commodore Capital LP |
|
|
|
|
By: |
/s/ Michael
Kramarz |
|
Michael Kramarz, Managing Partner |
|
|
|
|
Commodore Capital Master LP |
|
|
|
|
By: |
/s/ Michael
Kramarz |
|
Michael Kramarz, Authorized Signatory |
|
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