0000947871-19-000806.txt : 20191113 0000947871-19-000806.hdr.sgml : 20191113 20191113125752 ACCESSION NUMBER: 0000947871-19-000806 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20191113 DATE AS OF CHANGE: 20191113 GROUP MEMBERS: ORBIMED CAPITAL GP III LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SELECTA BIOSCIENCES INC CENTRAL INDEX KEY: 0001453687 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-89550 FILM NUMBER: 191212850 BUSINESS ADDRESS: STREET 1: 480 ARSENAL WAY CITY: WATERTOWN STATE: MA ZIP: 02472 BUSINESS PHONE: 617-923-1400 MAIL ADDRESS: STREET 1: 480 ARSENAL WAY CITY: WATERTOWN STATE: MA ZIP: 02472 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ORBIMED ADVISORS LLC CENTRAL INDEX KEY: 0001055951 IRS NUMBER: 133976876 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 601 LEXINGTON AVENUE STREET 2: 54TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: (212) 739-6400 MAIL ADDRESS: STREET 1: 601 LEXINGTON AVENUE STREET 2: 54TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 ss157049_sc13da.htm AMENDMENT NO. 3
 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
                       
SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)*
           

SELECTA BIOSCIENCES, INC.


(Name of Issuer)

 

COMMON STOCK


(Title of Class of Securities)

 

816212104


(CUSIP Number)

 

OrbiMed Advisors LLC
OrbiMed Capital GP III LLC

601 Lexington Avenue, 54th Floor
New York, NY 10022
Telephone:  (212) 739-6400


(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)

                         

November 8, 2019


(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(b) for other parties to whom copies are to be sent.

 

*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 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. 816212104  
1 NAME OF REPORTING PERSON
OrbiMed Advisors LLC
 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☐

3 SEC USE ONLY  
4 SOURCE OF FUNDS
AF
 
5 CHECK BOX 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
27,136
 
8

SHARED VOTING POWER

2,851,928

 
9

SOLE DISPOSITIVE POWER


27,136

 
10

SHARED DISPOSITIVE POWER


2,851,928

 
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,879,064
 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)               
5.97%*
 
14 TYPE OF REPORTING PERSON (See Instructions)
IA
 
         

                


 

*This percentage is calculated based upon 48,196,387 shares of common stock, par value $0.0001 per share, of Selecta Biosciences, Inc. a Delaware corporation (the “Issuer”), as set forth in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on November 8, 2019.

 

   

 

CUSIP No. 816212104  
1 NAME OF REPORTING PERSON
OrbiMed Capital GP III LLC
 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☐

3 SEC USE ONLY  
4 SOURCE OF FUNDS
AF
 
5 CHECK BOX 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

 
8

SHARED VOTING POWER


2,851,928

 
9

SOLE DISPOSITIVE POWER


0

 
10

SHARED DISPOSITIVE POWER

                     
2,851,928

 
11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,851,928

 
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) 
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                        
5.91%*
 
14 TYPE OF REPORTING PERSON (See Instructions)
OO
 
         

         

* This percentage is calculated based upon 48,196,387 shares of common stock, par value $0.0001 per share, of Selecta Biosciences, Inc. a Delaware corporation (the “Issuer”), as set forth in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on November 8, 2019.

 

   

 

Item 1. Security and Issuer

 

This Amendment No. 4 (“Amendment No. 4”) to Schedule 13D supplements and amends the Statement on Schedule 13D of OrbiMed Advisors LLC and OrbiMed Capital GP III LLC (the “Statement”) originally filed with the Securities and Exchange Commission (the “SEC”) on July 7, 2016 with Samuel D. Isaly as an additional reporting person, and amended by Amendment No. 1 thereto filed with the SEC on August 15, 2017, Amendment No. 2 filed on January 26, 2018, and Amendment No. 3 filed on October 25, 2018. This Statement relates to the common stock, par value $0.0001 per share (the “Shares”), of Selecta Biosciences, Inc., a corporation organized under the laws of Delaware (the “Issuer”), with its principal executive offices located at 480 Arsenal Way, Watertown, Massachusetts 02472.  Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable.

 

On November 8, 2019, the Issuer filed its Form 10-Q for the quarterly period ended September 30, 2019, which indicated that the Issuer had increased its total number of outstanding Shares to 48,196,387 (the “Outstanding Share Increase”). As a result of the Outstanding Share Increase, the percentage of outstanding Shares that the Reporting Persons (as defined below) may be deemed to beneficially own was reduced by more than one percent of the Issuer’s Shares outstanding since the filing of the Amendment No. 3.

 

Item 2. Identity and Background

 

(a)           This Amendment No. 4 is being filed by OrbiMed Advisors LLC (“Advisors”), a limited liability company organized under the laws of Delaware, and OrbiMed Capital GP III LLC (“GP III”), a limited liability company organized under the laws of Delaware (collectively, the “Reporting Persons”).

 

(b) – (c), (f)  Advisors, a registered investment adviser under the Investment Advisers Act of 1940, as amended, is the sole general partner of OrbiMed Associates III, LP (“Associates III”) and the sole managing member of GP III, which is the sole general partner of OrbiMed Private Investments III, LP (“OPI III”).  OPI III and Associates III hold Shares as described herein.  Advisors and GP III have their principal offices at 601 Lexington Avenue, 54th Floor, New York, New York 10022.

 

The directors and executive officers of Advisors and GP III are set forth on Schedules I and II, attached hereto.  Schedules I and II set forth the following information with respect to each such person:

 

  (i) name;

 

  (ii) business address;

 

  (iii) present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted;

 

  (iv) citizenship.

 

(d) – (e)  During the last five years, neither the Reporting Persons nor any Person named in Schedule I or II have been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) 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.

Item 3.  Source and Amount of Funds or Other Consideration

Not Applicable.

   

 

Item 4. Purpose of Transaction

The Shares initially had been acquired by the Reporting Persons for the purpose of making an investment in the Issuer and not with the intention of acquiring control of the Issuer’s business on behalf of OPI III or Associates III.

The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer’s business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Issuer’s Shares in particular, as well as other developments and other investment opportunities. Based upon such review, the Reporting Persons will take such actions in the future as the Reporting Persons may deem appropriate in light of the circumstances existing from time to time. If the Reporting Persons believe that further investment in the Issuer is attractive, whether because of the market price of the Shares or otherwise, they may acquire Shares or other securities of the Issuer either in the open market or in privately negotiated transactions. Similarly, depending on market and other factors, the Reporting Persons may determine to dispose of some or all of the Shares currently owned by the Reporting Persons or otherwise acquired by the Reporting Persons either in the open market or in privately negotiated transactions.

Except as set forth in this Amendment No. 4, the Reporting Persons have not formulated any plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer or the disposition of securities of the Issuer, (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries, (c) a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries, (d) any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board, (e) any material change in the Issuer’s capitalization or dividend policy of the Issuer, (f) any other material change in the Issuer’s business or corporate structure, (g) any change in the Issuer’s charter or bylaws or other instrument corresponding thereto or other action which may impede the acquisition of control of the Issuer by any person, (h) causing a class of the Issuer’s securities to be deregistered or delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association, (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act or (j) any action similar to any of those enumerated above.

 

 

Item 5. Interest in Securities of the Issuer

 

(a) – (b)          As of the date of this filing, the Reporting Persons may be deemed, for purposes of Rule 13d-3 of the Act, directly or indirectly, including by reason of their mutual affiliation, to be the beneficial owners of the Shares.  Based upon information contained in the Issuer’s Form 10-Q, filed with the SEC on November 8, 2019, such Shares deemed to be indirectly beneficially owned by GP III constitutes approximately 5.91% of the issued and outstanding Shares, and such Shares deemed to be indirectly beneficially owned by Advisors constitutes approximately 5.97% of the issued and outstanding Shares.  Advisors, pursuant to its authority as the sole managing member of GP III, which is the sole general partner of OPI III, and as the sole general partner of Associates III, may be deemed to indirectly beneficially own the Shares held by OPI III and Associates IIII.  GP III, pursuant to its authority as the general partner of OPI III, may be deemed to indirectly beneficially own the Shares held by OPI III.  As a result, Advisors and GP III share the power to direct the vote and the disposition of the Shares held by OPI III described in Item 6 below, and Advisors has the power to direct the vote and the disposition of the Shares held by Associates III. Advisors exercises this investment and voting power through a management committee comprised of Carl L. Gordon, Sven H. Borho and Jonathan T. Silverstein, each of whom disclaims beneficial ownership of the Shares held by OPI III and Associates III.

 

In addition, Advisors and GP III, pursuant to their authority under the limited partnership agreements of OPI III and/or Associates III, prior to the date of this filing, caused OPI III and Associates III, as applicable, to enter into the agreements referred to in Item 6 below.

 

(c)          None of the Reporting Persons has effected any transaction during the past sixty (60) days in any Shares.

 

   

 

(d)         Not applicable.

 

(e)           Not applicable.

Item 6.Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer

 

In addition to the relationships between the Reporting Persons described in Items 2 and 5 above, GP III is the sole general partner of OPI III, pursuant to the terms of the limited partnership agreement of OPI III. Advisors is the sole managing member of GP III, pursuant to the terms of the limited liability company agreement of GP III, and the sole general partner of Associates III, pursuant to the terms of the limited partnership agreement of Associates III. Pursuant to these agreements and relationships, Advisors and GP III have discretionary investment management authority with respect to the assets of OPI III, and Advisors has discretionary investment management authority with respect to the assets of Associates III. Such authority includes the power of GP III and Advisors to vote and otherwise dispose of securities purchased by OPI III, and the power of Advisors to vote and otherwise dispose of securities purchased by Associates III. The number of outstanding Shares held by OPI III is 2,851,928 and the number of outstanding Shares held by Associates III is 27,136. Advisors may be considered to hold indirectly 2,879,064 Shares, and GP III may be considered to hold indirectly 2,851,928 Shares.

 

Item 7. Materials to Be Filed as Exhibits

 

 

Exhibit Description
1. Joint Filing Agreement among OrbiMed Advisors LLC and OrbiMed Capital GP III LLC.

 

 

SIGNATURE

 

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

 

Dated:  November 13, 2019

 

 

 

OrbiMed Advisors LLC

 
     
  By:  /s/ Carl L. Gordon  
    Name:   Carl L. Gordon  
    Title: Member of OrbiMed Advisors LLC  
         
         
  OrbiMed Capital GP III LLC  
       
  By:

OrbiMed Advisors LLC

its Managing Member

       
       
  By: /s/ Carl L. Gordon  
    Name:  Carl L. Gordon  
    Title: Member of OrbiMed Advisors LLC  
       
       
           
   

 

Schedule I

 

The name and present principal occupation of each of the executive officers and directors of OrbiMed Advisors LLC are set forth below.  Unless otherwise noted, each of these persons are United States citizens and have as their business address 601 Lexington Avenue, 54th Floor, New York, NY 10022.

 

 

Name

Position with Reporting

Person

 

Principal Occupation

Carl L. Gordon Member

Member

OrbiMed Advisors LLC

Sven H. Borho

German and Swedish Citizen

Member

Member

OrbiMed Advisors LLC

Jonathan T. Silverstein Member

Member

OrbiMed Advisors LLC

W. Carter Neild Member

Member

OrbiMed Advisors LLC

Geoffrey C. Hsu Member

Member

OrbiMed Advisors LLC

C. Scotland Stevens Member

Member

OrbiMed Advisors LLC

Trey Block

Chief Financial Officer

 

Chief Financial Officer

OrbiMed Advisors LLC

 

 

 

 

 

 

 

 

 

 

 

 

   

 

Schedule II

 

The business and operations of OrbiMed Capital GP III LLC are managed by the executive officers and directors of its managing member, OrbiMed Advisors LLC, set forth on Schedule I.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

EXHIBIT INDEX

 

Exhibit Description
1. Joint Filing Agreement among OrbiMed Advisors LLC and OrbiMed Capital GP III LLC.

 

 

 

 

 

 

 

 

 

   

EX-99.1 2 ss157049_ex9901.htm JOINT FILING AGREEMENT

 EXHIBIT 1

 

JOINT FILING AGREEMENT

 

The undersigned hereby agree that the Statement on this Schedule 13D, dated November 13, 2019 (the “Schedule 13D”), with respect to the Common Stock, of Selecta Biosciences, Inc. is filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, and that this Agreement shall be included as an Exhibit to this Schedule 13D.  Each of the undersigned agrees to be responsible for the timely filing of the Schedule 13D, and for the completeness and accuracy of the information concerning itself contained therein.  This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the 13th day of November, 2019.

 

 

OrbiMed Advisors LLC

 
     
  By: /s/ Carl L. Gordon  
    Name:   Carl L. Gordon  
    Title: Member of OrbiMed Advisors LLC  
         
         
  OrbiMed Capital GP III LLC  
       
  By:

OrbiMed Advisors LLC

its Managing Member

       
       
  By: /s/ Carl L. Gordon  
    Name:  Carl L. Gordon  
    Title: Member of OrbiMed Advisors LLC