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    SEC Form SC 13G filed by Septerna Inc.

    11/4/24 4:15:38 PM ET
    $SEPN
    Biotechnology: Pharmaceutical Preparations
    Health Care
    Get the next $SEPN alert in real time by email
    SC 13G 1 tm2427370d1_sc13g.htm SC 13G

     

     

    UNITED STATES 

    SECURITIES AND EXCHANGE COMMISSION 

    Washington, D.C. 20549

     

    SCHEDULE 13G

     

    Under the Securities Exchange Act of 1934 

    (Amendment No.  )*

     

    Septerna, Inc.

     

    (Name of Issuer)

     

    Common Stock, $0.001 par value per share 

     

    (Title of Class of Securities)

     

    81734D 104

     

    (CUSIP Number)

     

    October 28, 2024

     

    (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)
       
    xRule 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.   81734D 104
    1.

    Names of Reporting Persons

    Samsara BioCapital, L.P.

    2.

    Check the Appropriate Box if a Member of a Group (See Instructions)

    (a) x (1)   (b) ¨

    3. SEC Use Only
    4.

    Citizenship or Place of Organization

    Delaware

    Number of

    Shares

    Beneficially

    Owned by

    Each

    Reporting

    Person With

    5.

    Sole Voting Power

    0

    6.

    Shared Voting Power

    2,768,520 (2)

    7.

    Sole Dispositive Power

    0

    8.

    Shared Dispositive Power

    2,768,520 (2)

    9.

    Aggregate Amount Beneficially Owned by Each Reporting Person

    2,768,520 (2)

    10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ¨
    11.

    Percent of Class Represented by Amount in Row (9)

    6.2% (3)

    12.

    Type of Reporting Person (See Instructions)

    PN

           

    (1)This Schedule 13G is filed by Samsara BioCapital, L.P. (“Samsara LP”), Samsara BioCapital GP, LLC (“Samsara GP”) and Srinivas Akkaraju (“Dr. Akkaraju”) (and together with Samsara LP, Samsara GP, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

     

    (2)These shares are held by Samsara LP. Samsara GP is the sole general partner of Samsara LP and may be deemed to have voting and investment power over the securities held by Samsara LP. Dr. Akkaraju is the managing member of Samsara GP and may be deemed to have voting and dispositive power over the shares held by Samsara LP.

     

    (3)This percentage is calculated based on 44,402,794 shares of Common Stock outstanding as of October 30, 2024 upon the closing of the Issuer’s public offering, as reported in the prospectus, dated October 24, 2024, filed with the Securities and Exchange Commission (the “SEC”) on October 25, 2024, after giving effect to an additional 2,400,000 shares issued and sold pursuant to the underwriters’ option.

     

    2

     

     

    CUSIP No.   81734D 104
    1.

    Names of Reporting Persons

    Samsara BioCapital GP, LLC

    2.

    Check the Appropriate Box if a Member of a Group (See Instructions)

    (a) x (1)    (b) ¨

    3. SEC Use Only
    4.

    Citizenship or Place of Organization

    Delaware

    Number of

    Shares

    Beneficially

    Owned by

    Each

    Reporting

    Person With

    5.

    Sole Voting Power

    0

    6.

    Shared Voting Power

    2,768,520 (2)

    7.

    Sole Dispositive Power

    0

    8.

    Shared Dispositive Power

    2,768,520 (2)

    9.

    Aggregate Amount Beneficially Owned by Each Reporting Person

    2,768,520 (2)

    10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ¨
    11.

    Percent of Class Represented by Amount in Row (9)

    6.2% (3)

    12.

    Type of Reporting Person (See Instructions)

    OO

           

    (1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

     

    (2)These shares are held by Samsara LP. Samsara GP is the sole general partner of Samsara LP and may be deemed to have voting and investment power over the securities held by Samsara LP. Dr. Akkaraju is the managing member of Samsara GP and may be deemed to have voting and dispositive power over the shares held by Samsara LP.

     

    (3)This percentage is calculated based on 44,402,794 shares of Common Stock outstanding as of October 30, 2024 upon the closing of the Issuer’s public offering, as reported in the prospectus, dated October 24, 2024, filed with the SEC on October 25, 2024, after giving effect to an additional 2,400,000 shares issued and sold pursuant to the underwriters’ option.

     

    3

     

     

    CUSIP No.   81734D 104
    1.

    Names of Reporting Persons

    Srinivas Akkaraju

    2.

    Check the Appropriate Box if a Member of a Group (See Instructions)

    (a) x (1)    (b) ¨

    3. SEC Use Only
    4.

    Citizenship or Place of Organization

    United States

    Number of

    Shares

    Beneficially

    Owned by

    Each

    Reporting

    Person With

    5.

    Sole Voting Power

    0

    6.

    Shared Voting Power

    2,768,520 (2)

    7.

    Sole Dispositive Power

    0

    8.

    Shared Dispositive Power

    2,768,520 (2)

    9.

    Aggregate Amount Beneficially Owned by Each Reporting Person

    2,768,520 (2)

    10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)    ¨
    11.

    Percent of Class Represented by Amount in Row (9)

    6.2% (3)

    12.

    Type of Reporting Person (See Instructions)

    IN

           

    (1)This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

     

    (2)These shares are held by Samsara LP. Samsara GP is the sole general partner of Samsara LP and may be deemed to have voting and investment power over the securities held by Samsara LP. Dr. Akkaraju is the managing member of Samsara GP and may be deemed to have voting and dispositive power over the shares held by Samsara LP.

     

    (3)This percentage is calculated based on 44,402,794 shares of Common Stock outstanding as of October 30, 2024 upon the closing of the Issuer’s public offering, as reported in the prospectus, dated October 24, 2024, filed with the SEC on October 25, 2024, after giving effect to an additional 2,400,000 shares issued and sold pursuant to the underwriters’ option.

     

    4

     

     

    Item 1.
      (a) Name of Issuer
    Septerna, Inc.
      (b) Address of Issuer’s Principal Executive Offices
    250 East Grand Avenue
    South San Francisco, CA 94080
     
    Item 2.
      (a) Name of Person Filing
    Samsara BioCapital, L.P. (“Samsara LP”)
    Samsara BioCapital GP, LLC (“Samsara GP”)
    Srinivas Akkaraju (“Dr. Akkaraju”)
      (b) Address of Principal Business Office or, if none, Residence
    c/o Samsara BioCapital, LLC
    628 Middlefield Road
    Palo Alto, CA 94301
      (c) Citizenship
    Entities:               Samsara LP      -     Delaware
                                 Samsara GP      -     Delaware
    Individuals:       Dr. Akkaraju    -     United States
      (d) Title of Class of Securities
    Common Stock, $0.001 par value (“Common Stock”)
      (e) CUSIP Number
    81734D 104
     
    Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
       
      Not applicable

     

    5

     

     

    Item 4. Ownership

       
    The following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1 is provided as of November 4, 2024:

     

    Reporting
    Persons
      Shares Held
    Directly
       Sole
    Voting
    Power
       Shared
    Voting
    Power
       Sole
    Dispositive
    Power
       Shared
    Dispositive
    Power
       Beneficial
    Ownership
       Percentage
    of Class (2)
     
    Samsara LP (1)    2,768,520        2,768,520       2,768,520    2,768,520    6.2%
    Samsara GP (1)           2,768,520       2,768,520    2,768,520    6.2%
    Dr. Akkaraju (1)           2,768,520       2,768,520    2,768,520    6.2%

     

    (1)These shares are held by Samsara LP. Samsara GP is the sole general partner of Samsara LP and may be deemed to have voting and investment power over the securities held by Samsara LP. Dr. Akkaraju is the managing member of Samsara GP and may be deemed to have voting and dispositive power over the shares held by Samsara LP.
    (2)This percentage is calculated based on 44,402,794 shares of Common Stock outstanding as of October 30, 2024 upon the closing of the Issuer’s public offering, as reported in the prospectus, dated October 24, 2024, filed with the SEC on October 25, 2024, after giving effect to an additional 2,400,000 shares issued and sold pursuant to the underwriters’ option.

     

    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 such purpose or effect.

     

    6

     

     

    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: November 4, 2024

     

    Samsara BioCapital, L.P.

     

    By:Samsara BioCapital GP, LLC  
    itsGeneral Partner  
        
    By: /s/ Srinivas Akkaraju  
     Name: Srinivas Akkaraju  
     Title: Managing Member  
        
    Samsara BioCapital GP, LLC  
        
    By:/s/ Srinivas Akkaraju  
     Name: Srinivas Akkaraju  
     Title: Managing Member  
        
    /s/ Srinivas Akkaraju  
    Srinivas Akkaraju  

     

      ATTENTION  
    Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

     

    7

     

     

    Exhibit(s):

     

    AJoint Filing Agreement

     

    8

     

     

    EXHIBIT A

     

    JOINT FILING AGREEMENT

     

    We, the undersigned, hereby express our agreement that the attached Schedule 13G (or any amendments thereto) relating to the Common Stock of Septerna, Inc. is filed on behalf of each of us.

     

    Dated: November 4, 2024

     

    Samsara BioCapital, L.P.

     

    By:Samsara BioCapital GP, LLC  
    itsGeneral Partner  
        
    By: /s/ Srinivas Akkaraju  
     Name: Srinivas Akkaraju  
     Title: Managing Member  
        
    Samsara BioCapital GP, LLC  
        
    By:/s/ Srinivas Akkaraju  
     Name: Srinivas Akkaraju  
     Title: Managing Member  
        
    /s/ Srinivas Akkaraju  
    Srinivas Akkaraju  

     

     

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