UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
KalVista Pharmaceuticals, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
483497103
(CUSIP Number)
Peter Haahr
Novo Holdings A/S
Tuborg Havnevej 19
Hellerup, Denmark DK-2900
+45 3527 6592
Copy to:
B. Shayne Kennedy, Esq.
Latham & Watkins LLP
650 Town Center Drive, 20th Floor
Costa Mesa, CA 92626
Telephone: (714) 540-1235
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
September 13, 2017
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is subject of this Schedule 13D, and is filing this statement because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.
| * | 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 disclosures provided in a prior cover page. |
The information required on 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 (the “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.: 483497103 |
| 1. | Name of Reporting Person:
Novo Holdings A/S (formerly known as “Novo A/S”) | |||||
| 2. | Check the Appropriate Box if a Member of Group (See Instructions): (a) ☐ (b) ☐
| |||||
| 3. | SEC Use Only:
| |||||
| 4. | Source of Funds:
WC | |||||
| 5. | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e): ☐
| |||||
| 6. | Citizenship or Place of Organization:
Denmark | |||||
| Number of Shares Beneficially Owned By Each Reporting Person With:
|
7. |
Sole Voting Power:
2,725,283 | ||||
| 8. | Shared Voting Power:
0 | |||||
| 9. | Sole Dispositive Power:
2,725,283 | |||||
| 10. | Shared Dispositive Power:
0 | |||||
| 11. |
Aggregate Amount Beneficially Owned by Each Reporting Person:
2,725,283 | |||||
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares: ☐
| |||||
| 13. | Percent of Class Represented By Amount In Row (11):
28.06% (1) | |||||
| 14. | Type of Reporting Person:
CO | |||||
| (1) | Based upon 9,713,042 shares of Common Stock outstanding as of August 31, 2017 as reported in the Issuer’s quarterly report (Form 10-Q) filed with the Securities and Exchange Commission (the “Commission”) on September 14, 2017. |
This amendment (“Amendment No. 1”) amends the Schedule 13D originally filed with the Commission on November 30, 2016, (the “Schedule”) to update the directors and executive officers of the Reporting Person listed on Schedule I and to report a decrease in beneficial ownership of common stock of the Issuer held by the Reporting Person resulting from the sale of shares by Reporting Person and an increase in outstanding shares of the Issuer. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule.
| Item 2. | Identity and Background |
Item 2 of the Schedule is amended and replaced in its entirety as follows:
| (a) | The reporting person is Novo Holdings A/S (“Novo Holdings A/S”), a Danish limited liability company that is wholly owned by Novo Nordisk Fonden (the “Foundation”), a Danish commercial foundation. Novo A/S changed its name to Novo Holdings A/S on June 23, 2017. Novo Holdings A/S is the holding company in the group of Novo companies (currently comprised of Novo Nordisk A/S, Novozymes A/S and NNIT A/S) and is responsible for managing the Foundation’s assets, including its financial assets. Based on the governance structure of Novo Holdings A/S and the Foundation, the Foundation is not deemed to have any beneficial ownership of the securities of the Issuer held by Novo Holdings A/S. |
The name of each director and executive officer of both Novo Holdings A/S and the Foundation is set forth on Schedule I to this Amendment No. 1.
| (b) | The business address of both Novo Holdings A/S and the Foundation is Tuborg Havnevej 19, 2900 Hellerup, Denmark. |
The residence or business address of each director and executive officer of both Novo Holdings A/S and the Foundation is set forth on Schedule I to this Amendment No. 1.
| (c) | Novo Holdings A/S manages the Foundation’s assets, provides seed and venture capital to development stage companies and invests in well-established companies within the life science and biotechnology sector. |
The Foundation is a Danish self-governing and profit-making foundation, whose objectives are to provide a stable basis for commercial and research activities undertaken by the group of Novo companies and to support scientific, humanitarian and social purposes through grants.
| (d) | Within the last five years, neither Novo Holdings A/S, the Foundation, nor any person named in Schedule I has been convicted in any criminal proceedings. |
| (e) | Within the last five years, neither Novo Holdings A/S, the Foundation, nor any person named in Schedule I was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. |
| Item 5. | Interest in Securities of the Issuer |
Item 5(a) of the Schedule is amended and replaced in its entirety as follows:
(a) Novo Holdings A/S beneficially owns an aggregate of 2,725,283 shares of the Issuer’s common stock (the “Novo Shares”), representing approximately 28.06% of the outstanding shares of common stock of the Issuer, based upon 9,713,042 shares of Common Stock outstanding as of August 31, 2017 as reported in the Issuer’s quarterly report (Form 10-Q) filed with the Commission on September 14, 2017.
Item 5(b) of the Schedule is amended and replaced in its entirety as follows:
(b) Novo Holdings A/S is a Danish limited liability company wholly owned by the Novo Nordisk Foundation. Novo Holdings A/S, through its Board of Directors (the “Novo Board”), has the sole power to vote and dispose of the 2,725,283 shares of common stock beneficially owned by Novo Holdings A/S (the “Novo Shares”). The Novo Board, currently comprised of Sten Scheibye, Goran Ando, Jeppe Christiansen, Steen Riisgaard, Lars Rebien Sorensen and Per Wold-Olsen, may exercise voting and dispositive control over the Novo Shares only with the support of a majority of the Novo Board. As such, no individual member of the Novo Board is deemed to hold any beneficial ownership or reportable pecuniary interest in the Novo Shares. Except as described in this Amendment No. 1, neither the Foundation, Novo Holdings A/S nor their respective directors or executive officers has the power to direct the vote as to, or the disposition of the Novo Shares.
Item 5(c) of the Schedule is supplemented as follows:
(c) On September 13, 2017, Novo Holdings A/S sold 25,900 shares of the Issuer’s common stock in the open market through a broker’s transaction at a weighted average price of $8.016 per share.
On September 14, 2017, Novo Holdings A/S sold 10,000 shares of the Issuer’s common stock in the open market through a broker’s transaction at a weighted average price of $8.05 per share.
On September 15, 2017, Novo Holdings A/S sold 140,744 shares of the Issuer’s common stock in the open market through a broker’s transaction at a weighted average price of $7.0045 per share.
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: September 22, 2017 | Novo Holdings A/S | |||||
| /s/ Peter Haahr | ||||||
| By: Peter Haahr | ||||||
| Its: Chief Financial Officer | ||||||
Schedule I
Information regarding each director and executive officer of both Novo Holdings A/S and the Novo Nordisk Foundation is set forth below.
Novo Holdings A/S
| Name, Title at Novo Holdings A/S |
Address |
Principal Occupation | Citizenship | |||
| Sten Scheibye Chairman of the Board |
Rungsted Strandvej 197C 2960 Rungsted Kyst Denmark |
Professional Board Director | Denmark | |||
| Göran Ando Director |
Essex Woodlands Berkeley Square House Berkeley Square London, W1J 6BD United Kingdom |
Self-employed Professional Board Director |
Sweden | |||
| Jeppe Christiansen Director |
Kollemose 37 2830 Virum Denmark |
Chief Executive Officer Fondsmaeglerselskabet Maj Invest A/S |
Denmark | |||
| Steen Riisgaard Director |
Hestetangsvej 155 3520 Farum Denmark |
Professional Board Director | Denmark | |||
| Per Wold-Olsen Director |
T7B22 Favray Court Tigne Point TP01 Malta |
Professional Board Director | Norway | |||
| Lars Rebien Sørensen, Director |
Søllerødvej 83 2840 Holte Denmark |
Professional Board Director | Denmark | |||
| Kasim Kutay Chief Executive Officer of Novo Holdings A/S |
Bredgade 63, 3.th. 1260 Copenhagen K Denmark |
Chief Executive Officer of Novo Holdings A/S |
British | |||
| Peter Haahr Chief Financial Officer of Novo Holdings A/S |
Ordrup Have 21 2900 Charlottenlund Denmark |
Chief Financial Officer of Novo Holdings A/S |
Denmark | |||
| Thomas Dyrberg Managing Partner-Ventures |
Bengtasvej 9a 2900 Hellerup Denmark |
Managing Partner-Ventures of Novo Holdings A/S |
Denmark | |||
| Michael Shalmi Managing Partner Large Investments |
Stigårdsvej 4 2900 Hellerup Denmark |
Head of Large Investments, Novo Holdings A/S |
Denmark | |||
| Dorte Barlebo Madsen Head of People & Organisation, |
Hoffmeyersvej 13 2000 Frederiksberg Denmark |
Head of People & Organisation, Novo Holdings A/S |
Denmark | |||
| Morten Beck Jørgensen Managing Director, Novo Financial Investments |
Ellesøpark 20, 2950 Vedbæk Denmark |
Managing Director, Novo Holdings A/S Financial Investments |
Denmark | |||
| Søren Møller Managing Partner, Novo Seeds |
Ved Furesøen 9 2840 Holte Denmark |
Managing Partner, Novo Seeds, Novo Holdings A/S |
Denmark | |||
Novo Nordisk Foundation
|
Name, Title at Novo Nordisk Foundation |
Address |
Principal Occupation | Citizenship | |||
| Sten Scheibye Chairman of the Board |
Rungsted Strandvej 197C 2960 Rungsted Kyst Denmark |
Professional Board Director | Denmark | |||
| Bo Ahrén Director |
Merkuriusgatan 11 S-224 57 Lund Sweden |
Professor of Medicine and Vice Chancellor, Lund University Lund, Sweden |
Sweden | |||
| Lars Rebien Sørensen Director |
Søllerødvej 83 Søllerød 2840 Holte Denmark |
Professional Board Director | Denmark | |||
| Lars Fugger Director |
Staunton Road 72 OX3 7TP Great Britain |
Professor, John Radcliffe Hospital University of Oxford, Oxford, Great Britain |
Denmark | |||
| Anne Marie Kverneland Director |
Nybrovej 216 2800 Kgs. Lyngby Denmark |
Laboratory Technician Novo Nordisk A/S |
Denmark | |||
| Lars Bo Køppler Director |
Anemonevej 7 3550 Slangerup Denmark |
Technician Novozymes A/S |
Denmark | |||
| Désirée J. Asgreen Director |
Strandhaven 105 2665 Vallensbæk Strand Denmark |
Project Director Novo Nordisk A/S |
Denmark | |||
| Lars Henrik Munch, Director | Galionsvej 46 1437 København K |
Professional board director |
Denmark | |||
| Marianne Philip Director |
Tranegårdsvej 5 2900 Hellerup Denmark |
Attorney | Denmark | |||
| Steen Riisgaard Vice Chairman of the Board |
Hestetangsvej 155 3520 Farum Denmark |
Professional Board Director | Denmark | |||
| Birgitte Nauntofte Chief Executive Officer |
Engbakkevej 24 2920 Charlottenlund Denmark |
Chief Executive Officer Novo Nordisk Foundation |
Denmark | |||