OrbiMed Advisors Discloses 12.3% Stake in Aspen Neuroscience
The shares are held by OrbiMed Private Investments VII, LP, and the filing says OrbiMed Advisors member Peter A. Thompson sits on Aspen Neuroscience's board of directors.
OrbiMed Advisors LLC reported beneficial ownership of 3,589,132 shares of Aspen Neuroscience, Inc. common stock, or 12.3% of the class, according to a Schedule 13D filed Nov. 6 with the US Securities and Exchange Commission.
The filing is made jointly with OrbiMed Capital GP VII LLC and gives Nov. 2 as the date of the event that required it. It says the shares are held by OrbiMed Private Investments VII, LP, whose general partner is OrbiMed Capital GP VII. OrbiMed Advisors is the managing member of that general partner. OrbiMed Advisors exercises voting and investment power through a management committee of Carl L. Gordon, W. Carter Neild and Geoffrey C. Hsu, each of whom disclaims beneficial ownership, the filing says.
According to the filing, the partnership's preferred stock in Aspen Neuroscience converted into common shares upon completion of the company's initial public offering. The percentage is based on 29,078,600 shares outstanding.
The filing says the reporting persons hold the shares as an investment and not with the intention of taking control of Aspen Neuroscience's business.
It also says Peter A. Thompson, a member of OrbiMed Advisors, is a member of Aspen Neuroscience's board, and that as a result OrbiMed Advisors and OrbiMed Capital GP VII "may have the ability to affect and influence control of the Issuer." The partnership and Thompson agreed with the offering's underwriters not to sell shares, with limited exceptions, until 180 days after the final prospectus supplement, the filing says.