Correspondence 0001999371-24-008657 from Vida Ventures, LLC (CIK 0001724489)
Vida Ventures, LLC (CIK 0001724489)
Date: July 16, 2024 · CIK: 0001724489 · Accession: 0001999371-24-008657
AI Filing Summary & Sentiment
Referenced dates: July 11, 2024
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CORRESP
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July 16, 2024
VIA EDGAR TRANSMISSION
U.S. Securities and Exchange Commission
Division of Corporation Finance
Office of Real Estate & Construction
100 F Street, N.E.
Washington, D.C. 20549
Attn:
Shane Callaghan
Nicholas Panos
Re:
Vida Ventures, LLC
Kyverna Therapeutics, Inc.
Schedule 13D Filed By Vida Ventures, LLC et al.
Filed May 3, 2024
File No. 005-94441
Dear Mr. Callaghan and Mr. Panos:
In response to your letter dated July 11, 2024 (the
“Letter”), Vida Ventures, LLC (the “Company”), submits the following response to the comment of the staff (the
“Staff”) of the U.S. Securities and Exchange Commission (the “Commission”) set forth in your Letter that pertains
to the to the Schedule 13D filed by the Company on May 3, 2024 (the “Schedule 13D”). For the Staff’s convenience, we
have restated below in bold the comment from the Letter in its entirety and have supplied our response to the comment immediately thereafter.
Schedule 13D
Filed May 3, 2024
General
1. We note the date of the event reported as requiring the filing of the Statement was February 12,
2024. Rule 13d-1(a) of Regulation 13D-G requires the filing of a Schedule 13D within five business days after the date beneficial ownership
of more than five percent of a class of equity securities specified in Rule 13d-1(i)(1) was acquired. Based on the February 12, 2024 event
date, the Schedule 13D submitted on May 3, 2024 was not timely filed. Please advise us why the Schedule 13D was not filed within the required
five business days after the date of the acquisition.
The Company respectfully advises the Staff that the Schedule
13D was not filed within five business days after the February 12, 2024 event date because the Company initially considered itself eligible
to file on Schedule 13G with respect to its holdings in Kyverna Therapeutics, Inc. (“Kyverna”).
The Company was a stockholder of Kyverna since prior to its initial
public offering (the “IPO”), which closed on February 12, 2024. At the closing of the IPO, based on its holding of an aggregate
of 4,523,924 shares of common stock underlying shares of Series A-1 convertible preferred stock, all of which converted into shares of
Kyverna’s common stock at the closing of the IPO, the Company believed that it is entitled to report its beneficial ownership of
Kyverna’s equity securities on a Schedule 13G on a later date.
As disclosed in the Schedule 13D, Vida Ventures III, L.P. and
Vida Ventures III-A, L.P., funds separately managed from, but affiliated with, the Company acquired a total of 253,136 shares of Kyverna’s
common stock at the closing of the IPO. The Company disclosed its beneficial ownership of shares of Kyverna’s common stock, together
with such affiliated entities, on a Form 4 promptly following the closing of the IPO, on February 14, 2024. However, the Company was not
aware at the time that it was obligated to report such beneficial ownership on a Schedule 13D. Following a review of the affiliated position,
including review of Staff guidance with respect to Section 13 filings, the Company determined a 13D was appropriate and filed the Schedule
13D on May 3, 2024. The Company respectfully advises the Staff that future filings by the Company with respect to its beneficial ownership
in equity securities of Kyverna will be timely made in accordance with Rule 13d-1(a) of Regulation 13D-G.
****************************
We hope that the Company’s response above adequately
addresses the Staff’s comment. If the Staff has any questions or requires any additional information, please do not hesitate to
contact Jean-Philippe Kouakou-Zebouah, the Company’s Chief Financial Officer, at (415) 378-9984 or jp@vidaventures.com.
Very truly yours,
/s/ Jean-Philippe Kouakou-Zebouah
Jean-Philippe Kouakou-Zebouah
Chief Financial Officer
cc:
Helena Grannis
Cleary Gottlieb Steen & Hamilton LLP