SEC FORM 3

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Kurma Partners

(Last)

(First)

(Middle)

24 RUE ROYALE

(Street)

PARIS

75008

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/09/2023

3. Issuer Name and Ticker or Trading Symbol
IO Biotech, Inc. [ IOBT ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	4,345,679	I	See Footnote⁽¹⁾⁽⁴⁾
Common Stock	1,852,026	I	See Footnote⁽²⁾⁽⁴⁾
Common Stock	623,428	I	See Footnote⁽³⁾⁽⁴⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Warrants (Right to Buy)	08/09/2023	⁽⁵⁾	Common Stock	4,345,679	$2.47	I	See Footnote⁽¹⁾⁽⁴⁾
Warrants (Right to Buy)	08/09/2023	⁽⁵⁾	Common Stock	812,815	$2.47	I	See Footnote⁽²⁾⁽⁴⁾
Warrants (Right to Buy)	08/09/2023	⁽⁵⁾	Common Stock	273,603	$2.47	I	See Footnote⁽³⁾⁽⁴⁾

Explanation of Responses:

1. The securities are held by Kurma Growth Opportunities Fund FPCI. Kurma Partners is the management company of Kurma Growth Opportunities Fund FPCI.

2. The securities are held by Kurma Biofund III FPCI. Kurma Partners is the management company of Kurma Biofund III FPCI.

3. The securities are held by SKCI FPCI. Kurma Partners is the management company of SKCI FPCI.

4. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.

5. These warrants expire at 5:00 p.m. Eastern time on the earlier of (i) February 9, 2027, and (ii) one day prior to the closing of an Acquisition (as such term is defined in the Form of Warrant, attached as Exhibit 4.1 to the Issuer's Current Report on Form 8-K, filed with the Securities and Exchange Commission on August 7, 2023).

	Kurma Partners, by: /s/ Remi Droller, Managing Partner	08/21/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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