Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Checkbox not checked   Rule 13d-1(b)
Checkbox checked   Rule 13d-1(c)
Checkbox not checked   Rule 13d-1(d)






SCHEDULE 13G




Comment for Type of Reporting Person:   These securities are held of record by TCG Crossover I (as defined in Item 2(a) of the Original Schedule 13G (as defined in the Explanatory Note below)) and consist 964,500 Ordinary Shares, which are represented by 964,500 ADSs, issuable upon exercise of warrants (the Warrants) which may be exercisable within 60 days of the date hereof. TCG Crossover GP I (as defined in Item 2(a) of the Original Schedule 13G (as defined in the Explanatory Note below)) is the general partner of TCG Crossover I and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP I and may be deemed to share voting, investment and dispositive power with respect to these securities. The Warrants may not be exercised to the extent that doing so would result in the holder of the Warrants (together with the holder's affiliates and any other persons acting as a group together with the holder or any of the holder's affiliates) beneficially owning more than 9.99% of the shares of Ordinary Shares outstanding immediately prior to or after giving effect to such exercise (the Ownership Limitation). Based on 96,905,764 Ordinary Shares, which includes the sum of (i) 95,941,264 Ordinary Shares outstanding as of July 28, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the Securities and Exchange Commission (the Commission) on July 31, 2025 (the Form 10-Q)and (ii) 964,500 Ordinary Shares issuable upon exercise of Warrants held of record by TCG Crossover I.


SCHEDULE 13G




Comment for Type of Reporting Person:   These securities are held of record by TCG Crossover I and consist of 964,500 Ordinary Shares, which are represented by 964,500 ADSs, issuable upon exercise of Warrants which may be exercisable within 60 days of the date hereof. TCG Crossover GP I is the general partner of TCG Crossover I and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP I and may be deemed to share voting, investment and dispositive power with respect to these securities. The exercise of the Warrants is subject to the Ownership Limitation. Based on 96,905,764 Ordinary Shares, which includes the sum of (i) 95,941,264 Ordinary Shares outstanding as of July 28, 2025, as reported by the Issuer in its Form 10-Q and (ii) 964,500 Ordinary Shares issuable upon exercise of Warrants held of record by TCG Crossover I.


SCHEDULE 13G




Comment for Type of Reporting Person:   These securities are held of record by TCG Crossover II (as defined in Item 2(a) of the Original Schedule 13G (as defined in the Explanatory Note below)) and consists of 2,893,500 Ordinary Shares, which are represented by 2,893,500 ADSs, issuable upon exercise of Warrants which may be exercisable within 60 days of the date hereof. TCG Crossover GP II (as defined in Item 2(a) of the Original Schedule 13G (as defined in the Explanatory Note below)) is the general partner of TCG Crossover II and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP II and may be deemed to share voting, investment and dispositive power with respect to these securities. The exercise of the Warrants is subject to the Ownership Limitation. Based on 98,834,764 Ordinary Shares, which includes the sum of (i) 95,941,264 Ordinary Shares outstanding as of July 28, 2025, as reported by the Issuer in its Form 10-Q and (ii) 2,893,500 Ordinary Shares issuable upon exercise of Warrants held of record by TCG Crossover II.


SCHEDULE 13G




Comment for Type of Reporting Person:   These securities are held of record by TCG Crossover II and consist of 2,893,500 Ordinary Shares, which are represented by 2,893,500 ADSs, issuable upon exercise of Warrants which may be exercisable within 60 days of the date hereof. TCG Crossover GP II is the general partner of TCG Crossover II and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of TCG Crossover GP II and may be deemed to share voting, investment and dispositive power with respect to these securities. The exercise of the Warrants is subject to the Ownership Limitation. Based on 98,834,764 Ordinary Shares, which includes the sum of (i) 95,941,264 Ordinary Shares outstanding as of July 28, 2025, as reported by the Issuer in its Form 10-Q and (ii) 2,893,500 Ordinary Shares issuable upon exercise of Warrants held of record by TCG Crossover II.


SCHEDULE 13G




Comment for Type of Reporting Person:   Consists of an aggregate of 3,858,000 Ordinary Shares, which are represented by 3,858,000 ADSs, issuable upon exercise of Warrants held of record by TCG Crossover I and TCG Crossover II. TCG Crossover GP I is the general partner of TCG Crossover I and may be deemed to have voting, investment, and dispositive power with respect to these securities. TCG Crossover GP II is the general partner of TCG Crossover II and may be deemed to have voting, investment, and dispositive power with respect to these securities. Chen Yu is the sole managing member of each of TCG Crossover GP I and TCG Crossover GP II and may be deemed to share voting, investment and dispositive power with respect to these securities. The exercise of the Warrants is subject to the Ownership Limitation. Based on 99,799,264 Ordinary Shares, which includes the sum of (i) 95,941,264 Ordinary Shares outstanding as reported by the Issuer in its Form 10-Q and (ii) an aggregate of 3,858,000 Ordinary Shares issuable upon exercise of the Warrants held of record by TCG Crossover I and TCG Crossover II (as a result of the Ownership Limitation).


SCHEDULE 13G



 
TCG Crossover GP I, LLC
 
Signature:/s/ Craig Skaling
Name/Title:Craig Skaling, Authorized Signatory
Date:08/14/2025
 
TCG Crossover Fund I, L.P.
 
Signature:/s/ Craig Skaling
Name/Title:Craig Skaling, Authorized Signatory
Date:08/14/2025
 
TCG Crossover GP II, LLC
 
Signature:/s/ Craig Skaling
Name/Title:Craig Skaling, Authorized Signatory
Date:08/14/2025
 
TCG Crossover Fund II, L.P.
 
Signature:/s/ Craig Skaling
Name/Title:Craig Skaling, Authorized Signatory
Date:08/14/2025
 
Chen Yu
 
Signature:/s/ Craig Skaling
Name/Title:Craig Skaling, as Attorney-in-Fact for Chen Yu
Date:08/14/2025