Filing Details

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1	NAMES OF REPORTING PERSONS
	Kurma Partners
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	France
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
			12,253,230
		6	SHARED VOTING POWER
			0
		7	SOLE DISPOSITIVE POWER
			12,253,230
		8	SHARED DISPOSITIVE POWER
			0
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	12,253,230
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	17.18%
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	FI

IO Biotech, Inc. (the “Issuer”)

Ole Maaløes Vej 3, DK-2200 Copenhagen N, Denmark

This Statement is filed on behalf of Kurma Partners (the “Reporting Person”).

This Statement relates to the shares of Common Stock (as defined herein) held for the accounts of Kurma Growth Opportunities Fund FPCI, Kurma Biofund III FPCI, and SKCI FPCI (collectively, the “Kurma Funds”).

Kurma Partners is the management company of each of the Kurma Funds.

The address of the principal business office of the Reporting Person is 24 Rue Royale, Paris, France 75008.

Kurma Partners is a French public limited company.

Common Stock, $0.001 par value per share (the “Common Stock”)

449778109

As of the date hereof, the Reporting Person may be deemed the beneficial owner of 12,253,230 shares of Common Stock. This amount includes 6,821,133 shares of Common Stock and 5,432,097 shares of Common Stock the Reporting Person has the right to acquire within sixty (60) days upon exercise of warrants, at an exercise price of $2.47 per share (the “Warrants”) that the Kurma Funds purchased in connection with the private placement that closed on August 9, 2023.  Specifically, these amounts consist of (i) 4,345,679 shares of Common Stock and 4,345,679 Warrants held for the account of Kurma Growth Opportunities Fund FPCI; (ii) 1,852,026 shares of Common Stock and 812,815 Warrants held for the account of Kurma Biofund III FPCI; and (iii) 623,428 shares of Common Stock and 273,603 Warrants held for the account of SKCI FPCI.

As of the date hereof, the Reporting Person may be deemed the beneficial owner of approximately 17.18% of the shares of Common Stock outstanding.

This Item 5 is not applicable.

See disclosure in Items 2 and 4 hereof.  The Kurma Funds listed in Item 2(a) are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement that may be deemed to be beneficially owned by the Reporting Person.  Such interest of Kurma Growth Opportunities Fund FPCI relates to more than 5% of the shares of Common Stock outstanding.

See disclosure in Item 2 hereof.

This Item 8 is not applicable.

This Item 9 is not applicable.

By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to portfolio management companies regulated by the Autorité des Marchés Financiers is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s).  I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

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