UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Tectonic Therapeutic, Inc.
(Name of Issuer)
Common Stock, $0.0001 par value per share
(Title of Class of Securities)
878972108
(CUSIP Number)
Atlas Venture
Attention: Ommer Chohan, Chief Financial Officer
300 Technology Square, 8th Floor
Cambridge, MA 02139 USA
(857) 201-2700
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
October 24.2024
(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. x
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 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 (“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 878972108 | Page 2 of 10 |
| 1 | NAMES OF REPORTING PERSONS: ATLAS VENTURE FUND X, L.P. | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): (a) ¨ (b) x | |
| 3 | SEC USE ONLY: | |
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): WC | |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): ¨ | |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER: 0 | ||
| 8 | SHARED VOTING POWER: 9,1711 | |||
| 9 | SOLE DISPOSITIVE POWER: 0 | |||
| 10 | SHARED DISPOSITIVE POWER: 9,1711 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 9,1711 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): ¨ | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.1%2 | |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): PN |
| 1 | As described in Item 5 below, Atlas Venture Fund X, L.P., a Delaware limited partnership (“Atlas X”) directly holds 9,171 shares of the Issuer’s Common Stock. Atlas Venture Associates X, L.P., a Delaware limited partnership (“AVA X LP”) and Atlas Venture Associates X, LLC, a Delaware limited liability company (“AVA X LLC” and together with Atlas X and AVA X LP, the “Fund X Reporting Persons”) beneficially own the shares of the Issuer’s Common Stock held by Atlas X. AVA X LP is the general partner of Atlas X and AVA X LLC is the general partner of AVA X LP. Each of AVA X LP and AVA X LLC has voting and dispositive power over the shares held by Atlas X. |
| 2 | This percentage is calculated based upon 14,734,479 outstanding shares of Common Stock of the Issuer as of August 9, 2024, as reported in the Issuer’s prospectus supplement filed with the Securities and Exchange Commission on August 14, 2024. |
| CUSIP 878972108 | Page 3 of 10 |
| 1 | NAMES OF REPORTING PERSONS: ATLAS VENTURE ASSOCIATES X, L.P. | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): (a) ¨ (b) x | |
| 3 | SEC USE ONLY: | |
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): AF | |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): ¨ | |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER: 0 | ||
| 8 | SHARED VOTING POWER: 10,8801 | |||
| 9 | SOLE DISPOSITIVE POWER: 0 | |||
| 10 | SHARED DISPOSITIVE POWER: 10,8801 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 10,8801 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): ¨ | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.1%2 | |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): PN |
| 1 | As described in Item 5 below, Atlas X and AVA X LP directly hold 9,171 and 1,709 shares of the Issuer’s Common Stock, respectively. AVA X LP is the general partner of Atlas X and AVA X LLC is the general partner of AVA X LP. Each of AVA X LP and AVA X LLC has voting and dispositive power over the shares held by Atlas X and AVA X LLC has voting and dispositive power over the shares held by AVA X LP. |
| 2 | This percentage is calculated based upon 14,734,479 outstanding shares of Common Stock of the Issuer as of August 9, 2024, as reported in the Issuer’s prospectus supplement filed with the Securities and Exchange Commission on August 14, 2024. |
| CUSIP 878972108 | Page 4 of 10 |
| 1 | NAMES OF REPORTING PERSONS: Atlas Venture Associates X, LLC | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): (a) ¨ (b) x | |
| 3 | SEC USE ONLY: | |
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): AF | |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): ¨ | |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER: 0 | ||
| 8 | SHARED VOTING POWER: 10,8801 | |||
| 9 | SOLE DISPOSITIVE POWER: 0 | |||
| 10 | SHARED DISPOSITIVE POWER: 10,8801 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 10,8801 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): ¨ | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.1%2 | |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): OO |
| 1 | As described in Item 5 below, Atlas X and AVA X LP directly hold 9,171 and 1,709 shares of the Issuer’s Common Stock, respectively. AVA X LP is the general partner of Atlas X and AVA X LLC is the general partner of AVA X LP. Each of AVA X LP and AVA X LLC has voting and dispositive power over the shares held by Atlas X and AVA X LLC has voting and dispositive power over the shares held by AVA X LP. |
| 2 | This percentage is calculated based upon 14,734,479 outstanding shares of Common Stock of the Issuer as of August 9, 2024, as reported in the Issuer’s prospectus supplement filed with the Securities and Exchange Commission on August 14, 2024. |
| CUSIP 878972108 | Page 5 of 10 |
| 1 | NAMES OF REPORTING PERSONS: Atlas Venture Opportunity Fund I, L.P. | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): (a) ¨ (b) x | |
| 3 | SEC USE ONLY: | |
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): WC | |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): ¨ | |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER: 0 | ||
| 8 | SHARED VOTING POWER: 67,5671 | |||
| 9 | SOLE DISPOSITIVE POWER: 0 | |||
| 10 | SHARED DISPOSITIVE POWER: 67,5671 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 67,5671 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): ¨ | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.5%2 | |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): PN |
| 1 | As described in Item 5 below, Atlas Venture Opportunity Fund I, L.P., a Delaware limited partnership (“AVOF”), Atlas Venture Associates Opportunity I, L.P., a Delaware limited partnership (“AVAO LP”) and Atlas Venture Associates Opportunity I, LLC, a Delaware limited liability company (“AVAO LLC” and together with AVOF and AVAO LP, the “Opportunity Fund Reporting Persons”) beneficially own 67,567 shares of the Issuer’s Common Stock. All of these shares are held by AVOF. AVAO LP is the general partner of AVOF and AVAO LLC is the general partner of AVAO LP. Each of AVAO LP and AVAO LLC has voting and dispositive power over the shares held by AVOF. As such, each of the Opportunity Fund Reporting Persons share voting and dispositive power with respect to the shares held by AVOF. |
| 2 | This percentage is calculated based upon 14,734,479 outstanding shares of Common Stock of the Issuer as of August 9, 2024, as reported in the Issuer’s prospectus supplement filed with the Securities and Exchange Commission on August 14, 2024. |
| CUSIP 878972108 | Page 6 of 10 |
| 1 | NAMES OF REPORTING PERSONS: Atlas Venture Associates Opportunity I, L.P. | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): (a) ¨ (b) x | |
| 3 | SEC USE ONLY: | |
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): AF | |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): ¨ | |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER: 0 | ||
| 8 | SHARED VOTING POWER: 67,5671 | |||
| 9 | SOLE DISPOSITIVE POWER: 0 | |||
| 10 | SHARED DISPOSITIVE POWER: 67,5671 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 67,5671 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): ¨ | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.5%2 | |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): PN |
| 1 | As described in Item 5 below, AVOF, AVAO LP and AVAO LLC beneficially own 67,567 shares of the Issuer’s Common Stock. All of these shares are held by AVOF. AVAO LP is the general partner of AVOF and AVAO LLC is the general partner of AVAO LP. Each of AVAO LP and AVAO LLC has voting and dispositive power over the shares held by AVOF. As such, each of the Opportunity Fund Reporting Persons share voting and dispositive power with respect to the shares held by AVOF. |
| 2 | This percentage is calculated based upon 14,734,479 outstanding shares of Common Stock of the Issuer as of August 9, 2024, as reported in the Issuer’s prospectus supplement filed with the Securities and Exchange Commission on August 14, 2024. |
| CUSIP 878972108 | Page 7 of 10 |
| 1 | NAMES OF REPORTING PERSONS: Atlas Venture Associates Opportunity I, LLC | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS): (a) ¨ (b) x | |
| 3 | SEC USE ONLY: | |
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS): AF | |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): ¨ | |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER: 0 | ||
| 8 | SHARED VOTING POWER: 67,5671 | |||
| 9 | SOLE DISPOSITIVE POWER: 0 | |||
| 10 | SHARED DISPOSITIVE POWER: 67,5671 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 67,5671 | |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS): ¨ | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.5%2 | |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS): OO |
| 1 | As described in Item 5 below, AVOF, AVAO LP and AVAO LLC beneficially own 67,567 shares of the Issuer’s Common Stock. All of these shares are held by AVOF. AVAO LP is the general partner of AVOF and AVAO LLC is the general partner of AVAO LP. Each of AVAO LP and AVAO LLC has voting and dispositive power over the shares held by AVOF. As such, each of the Opportunity Fund Reporting Persons share voting and dispositive power with respect to the shares held by AVOF. |
| 2 | This percentage is calculated based upon 14,734,479 outstanding shares of Common Stock of the Issuer as of August 9, 2024, as reported in the Issuer’s prospectus supplement filed with the Securities and Exchange Commission on August 14, 2024. |
| CUSIP 878972108 | Page 8 of 10 |
INTRODUCTION
This Amendment No. 1 to Schedule 13D (“Amendment No. 1”) is being filed as an amendment to the statement on Schedule 13D relating to common stock, par value $0.0001 per share (the “Common Stock”) of Tectonic Therapeutic, Inc. (formerly, AVROBIO, Inc.), a Delaware corporation (the “Issuer” or “Tectonic”), as filed with the Securities and Exchange Commission (the “SEC”) on July 30, 2019 (the “Initial Schedule 13D”). All capitalized terms not otherwise defined herein shall have the meanings ascribed to the terms in the Initial Schedule 13D. This Amendment No. 1 is being filed to report the sale of shares by Atlas X, as described herein, and gives effect to the 12-for-1 reverse stock of the Issuer’s common stock effected and completion of the reverse merger of the Issuer with Tectonic Therapeutic, Inc. (the “Reverse Merger”), each of which became effective on June 20, 2024.
The Initial Schedule 13D is hereby amended and supplemented as follows and, except as expressly amended below, the Prior Schedule 13D remains in full force and effect.
As of the date of this filing, the Reporting Persons’ are no longer the beneficial owner of more than five percent of Issuer’s securities and are no longer required to report the Reporting Persons’ holdings on a Schedule 13D.
ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this Schedule 13D relates is common stock, par value $0.0001 per share (the “Common Stock”) of Tectonic Therapeutic, Inc. (formerly, AVROBIO, Inc.), a Delaware corporation (the “Issuer” or “Tectonic”). The principal executive offices of the Issuer are located at 490 Arsenal Way, Suite 210, Watertown, Massachusetts 02472.
ITEM 2. IDENTITY AND BACKGROUND
Item 2(b) of the Initial Schedule 13D is hereby amended and restated as follows:
| (b) | The address of the principal place of business of each of the Reporting Persons is c/o 300 Technology Square, 8th Floor, Cambridge, Massachusetts 02139. |
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Initial Schedule 13D is hereby amended and supplemented as follows:
Effective upon the completion of the Reverse Merger, Bruce Booth, D.Phil., resigned as a director of the Issuer.
| CUSIP 878972108 | Page 9 of 10 |
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Initial Schedule 13D is hereby amended and restated as follows:
| (a) (b) | As of the date hereof, Atlas X is the record owner of 9,171 shares of Common Stock. AVA X LP is the general partner of Atlas X and AVA X LLC is the general partner of AVA X LP. Each of Atlas X, AVA X LP and AVA X LLC has shared voting and dispositive power over the shares held by Atlas X. As such, each of Atlas X, AVA X LP and AVA X LLC may be deemed to beneficially own the shares held by Atlas X. |
As of the date hereof, AVA X LP is the record owner of 1,709 shares of Common Stock. AVA X LLC is the general partner of AVA X LP. Each of AVA X LP and AVA X LLC has shared voting and dispositive power over the shares held by AVA X LP. As such, each of AVA X LP and AVA X LLC may be deemed to beneficially own the shares held by AVA X LP.
As of the date hereof, AVOF is the record owner of 67,567 shares of Common Stock. AVAO LP is the general partner of AVOF and AVAO LLC is the general partner of AVAO LP. Each of AVOF, AVAO LP and AVAO LLC has shared voting and dispositive power over the shares held by AVOF. As such, each of AVOF, AVAO LP and AVAO LLC may be deemed to beneficially own the shares held by AVOF.
Each of the Fund X Reporting Persons and Opportunity Fund Reporting Persons may be deemed to beneficially own 0.1% and 0.5%, respectively, of the Issuer’s outstanding Common Stock, which percentages are calculated based upon 14,734,479 outstanding shares of Common Stock, as reported in the Issuer's prospectus supplement filed with the Securities and Exchange Commission on August 14, 2024.
Collectively, the Reporting Persons beneficially own an aggregate of 78,447 shares of Common Stock, which represents 0.5% of the Issuer's outstanding Common Stock. The Fund X Reporting Persons and the Opportunity Fund Reporting Persons are under common control and as a result, the Reporting Persons may be deemed to be members of a group. However, the Reporting Persons disclaim such group membership, and this Schedule 13D shall not be deemed an admission that the Reporting Persons are members of a group for purposes of Section 13 or for any other purposes.
| (c) | On October 24, 2024, Atlas X sold 300,000 shares of the Issuer’s Common Stock in a privately negotiated transaction with a single buyer for $33.59 per share. |
| (d) | No other person is known by the Reporting Persons 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 beneficially owned by the Reporting Persons.
|
| (e) | The Reporting Persons ceased to be the beneficial owners of more than five percent of the Common Stock on June 20, 2024 by virtue of the closing of the Reverse Merger, |
| CUSIP 878972108 | Page 10 of 10 |
SIGNATURES
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: October 28, 2024
| ATLAS VENTURE FUND X, L.P. | ||
| By: Atlas Venture Associates X, L.P., its general partner | ||
| By: Atlas Venture Associates X, LLC, its general partner | ||
| By: | /s/ Ommer Chohan | |
| Name: Ommer Chohan | ||
| Title: Chief Financial Officer | ||
| ATLAS VENTURE ASSOCIATES X, L.P. | ||
| By: Atlas Venture Associates X, LLC, its general partner | ||
| By: | /s/ Ommer Chohan | |
| Name: Ommer Chohan | ||
| Title: Chief Financial Officer | ||
| ATLAS VENTURE ASSOCIATES X, LLC | ||
| By: | /s/ Ommer Chohan | |
| Name: Ommer Chohan | ||
| Title: Chief Financial Officer | ||
| ATLAS VENTURE OPPORTUNITY FUND I, L.P. | ||
| By: Atlas Venture Associates Opportunity I, L.P., its general partner | ||
| By: Atlas Venture Associates Opportunity I, LLC, its general partner | ||
| By: | /s/ Ommer Chohan | |
| Name: Ommer Chohan | ||
| Title: Chief Financial Officer | ||
| ATLAS VENTURE ASSOCIATES OPPORTUNITY I, L.P. | ||
| By: Atlas Venture Associates Opportunity I, LLC, its general partner | ||
| By: | /s/ Ommer Chohan | |
| Name: Ommer Chohan | ||
| Title: Chief Financial Officer | ||
| ATLAS VENTURE ASSOCIATES OPPORTUNITY I, LLC | ||
| By: | /s/ Ommer Chohan | |
| Name: Ommer Chohan | ||
| Title: Chief Financial Officer | ||
