X0306 4 2015-05-06 1 0001425205 Lion Biotechnologies, Inc. LBIO 0001471149 Ayer Capital Management, LP 616 CORPORATE WAY, SUITE 2-4931 VALLEY COTTAGE NY 10989 0 0 1 0 0001519942 Ayer Capital Partners, LLC 616 CORPORATE WAY, SUITE 2-4931 VALLEY COTTAGE NY 10989 0 0 1 0 0001519940 ACM Capital Partners, LLC 616 CORPORATE WAY, SUITE 2-4931 VALLEY COTTAGE NY 10989 0 0 1 0 Common Stock 2015-05-01 2015-05-06 4 S 0 2780682 9.6208 D 2823333 I See Footnote These securities are held by investment funds and a managed account, the investment advisor of which is Ayer Capital Management, LP (the "Advisor"), ACM Capital Partners, LLC ("ACM")is the General Partner of the Advisor, Ayer Capital Partners, LLC (the "GP") is the General Partner of the investment funds. Mr. Venkatesan is the managing member of ACM and the General Partner of the GP. Each of the Advisor, ACM, the GP, and Mr. Venkatesan disclaims beneficial ownership of these securities except to the extent of its or his pecuniary interest thereof, and the filing of this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose. The sale of securities were sold in an underwritten secondary offering of 4,750,000 shares of Lion's common stock at a price to the public of $10.00 per share with a 0.375 gross spread to the underwriters. All shares were offered by the selling stockholders, including certain members of Board of Directors of the Company and certain of their affiliates. Lion Biotechnologies will not sell any shares or receive any proceeds from the offering. On behalf of Ayer Capital Partners, LLC, Jay Venkatesan,General Parnter 2015-05-06 On behalf of Ayer Capital Management, LP, Jay Venkatesan, Managing Member 2015-05-06 Jay Venkatesan 2015-05-06 On behalf of ACM Capital Partners LLC, Jay Venkatesan, Managing Member 2015-05-06