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Filing Details

Accession Number:: 0001209191-20-062387
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-12-08 20:41:26
Reporting Period:: 2020-12-08

Accepted Time:: 2020-12-08 20:41:26
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1671858	Silverback Therapeutics Inc.	SBTX	()	DE

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1055951	Orbimed Advisors Llc	601 Lexington Ave., 54Th Floor New York NY 10022	Yes	No	Yes	No
1157524	Orbimed Capital Llc	601 Lexington Ave., 54Th Floor New York NY 10022	Yes	No	Yes	No
1682115	Orbimed Capital Gp Vi Llc	601 Lexington Ave., 54Th Floor New York NY 10022	Yes	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2020-12-08	238,100	$21.00	507,423	No	4	P	Indirect	By OrbiMed Private Investments VI, LP
Common Stock	Acquisiton	2020-12-08	3,462,737	$0.00	3,970,160	No	4	C	Indirect	By OrbiMed Private Investments VI, LP
Common Stock	Acquisiton	2020-12-08	2,493,741	$0.00	6,463,901	No	4	C	Indirect	By OrbiMed Private Investments VI, LP
Common Stock	Acquisiton	2020-12-08	1,055,287	$0.00	7,519,188	No	4	C	Indirect	By OrbiMed Private Investments VI, LP
Common Stock	Acquisiton	2020-12-08	952,377	$21.00	952,377	No	4	P	Indirect	By OrbiMed Partners Master Fund Limited

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By OrbiMed Private Investments VI, LP
No	4	C	Indirect	By OrbiMed Private Investments VI, LP
No	4	C	Indirect	By OrbiMed Private Investments VI, LP
No	4	C	Indirect	By OrbiMed Private Investments VI, LP
No	4	P	Indirect	By OrbiMed Partners Master Fund Limited

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Preferred Stock	Disposition	2020-12-08	12,857,142	$0.00	3,462,737	$0.00
Common Stock	Series B Preferred Stock	Disposition	2020-12-08	9,259,259	$0.00	2,493,741	$0.00
Common Stock	Series C Preferred Stock	Disposition	2020-12-08	3,918,279	$0.00	1,055,287	$0.00

Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
No	4	C	Indirect
No	4	C	Indirect
No	4	C	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	269,323	Indirect	By OPI VI -IP HoldCo LLC

Footnotes

The shares were purchased in the Issuer's initial public offering.
These securities are held of record by OrbiMed Private Investments VI, LP ("OPI VI"). OrbiMed Capital GP VI LLC ("GP VI") is the general partner to OPI VI and OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VI. By virtue of such relationships, GP VI and OrbiMed Advisors may be deemed to have voting and investment power with respect to the shares held by OPI VI. Both GP VI and OrbiMed Advisors may be deemed to directly or indirectly, including by reason of their mutual affiliation, to be beneficial owners of the shares held by OPI VI. OrbiMed Advisors exercise investment and voting power through a management committee comprised of Carl L. Gordon, Jonathan T. Silverstein and Sven H. Borho, each of whom disclaims beneficial ownership of the shares of OPI VI.
This report on Form 4 is jointly filed by GP VI, OrbiMed Advisors, and OrbiMed Capital LLC ("OrbiMed Capital"). Each of the Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. OrbiMed Advisors has designated a representative, Peter Thompson, an employee of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any such entity or person is a beneficial owner of such securities for purpose of Section 16 of the Exchange Act, or for any other purpose.
All outstanding shares of Preferred Stock automatically converted into shares of Common Stock immediately upon the closing of the Issuer's initial public offering, for no additional consideration at a rate of one share of Common Stock for each 3.713 shares of Preferred Stock, based on the conversion price currently in effect. The Preferred Stock has no expiration date.
These securities are held of record by OrbiMed Partners Master Fund Limited ("OPM"). OrbiMed Capital is the investment advisor to OPM. OrbiMed Capital is a relying advisor of OrbiMed Advisors. OrbiMed Advisors and OrbiMed Capital exercise voting and investment power through a management committee comprised of Carl L. Gordon, Jonathan T. Silverstein and Sven H. Borho, each of whom disclaims beneficial ownership of the shares held by OPM.
These securities are held of record by OPI VI - IP HoldCo LLC ("HoldCo"). OPI VI - IP TopCo LLC ("TopCo") is the sole member of HoldCo. OrbiMed Private Investments VI - IP, LP ("OPI VI IP") is the sole member of TopCo. GP VI is the general partner of OPI VI IP. OrbiMed Advisors is the managing member of GP VI. By virtue of such relationships, OrbiMed Advisors and GP VI may be deemed to have voting and investment power over the securities held by HoldCo and as a result, may be deemed to have beneficial ownership over such securities. Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Jonathan T. Silverstein and Sven H. Borho, each of whom disclaims beneficial ownership of the shares held by HoldCo.