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Septerna sees $11.7 million in stock purchases by Third Rock Ventures

Published 10/29/2024, 05:00 AM
SEPN
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BOSTON—Third Rock Ventures, a prominent life sciences venture capital firm, has made significant acquisitions of Septerna, Inc. (NASDAQ:SEPN) stock, according to a recent SEC filing. The firm purchased a total of 650,000 shares of Septerna's common stock at a price of $18 per share, amounting to a $11.7 million investment.

These transactions were executed by various entities associated with Third Rock Ventures, including Third Rock Ventures V, L.P. and Third Rock Ventures VI, L.P., among others. The purchases were made on October 28, 2024, and reflect the firm's continued interest in the pharmaceutical preparations sector, where Septerna operates.

The filing also detailed the conversion of Series A and B Preferred Stock into common stock, though these conversions did not involve any cash transactions. The preferred shares were converted at a one-for-8.6103 basis upon the closing of Septerna’s initial public offering.

Third Rock Ventures has been a major player in the life sciences investment landscape, often focusing on early-stage companies with innovative approaches to healthcare. The latest acquisitions further cement their position as a key stakeholder in Septerna, which is based in South San Francisco, California.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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