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| CUSIP No: 13089P101 | | Page 2 of 8 Pages |
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| 1 | NAMES OF REPORTING PERSONS
Takeda Pharmaceutical Company Limited
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| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐ |
| 3 | SEC USE ONLY |
| 4 | SOURCE OF FUNDS (See Instructions) OO (see Item 3) |
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Japan |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 |
| 8 | SHARED VOTING POWER 0 |
| 9 | SOLE DISPOSITIVE POWER 0 |
| 10 | SHARED DISPOSITIVE POWER 0 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) ☐ |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% |
| 14 | TYPE OF REPORTING PERSON (See Instructions)
OO |
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| CUSIP No: 13089P101 | | Page 3 of 8 Pages |
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| 1 | NAMES OF REPORTING PERSONS
Takeda Ventures, Inc. |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐ |
| 3 | SEC USE ONLY |
| 4 | SOURCE OF FUNDS (See Instructions) OO (see Item 3) |
| 5 | CHECK BOX 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 0 |
| 9 | SOLE DISPOSITIVE POWER 0 |
| 10 | SHARED DISPOSITIVE POWER 0 |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) ☐ |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% |
| 14 | TYPE OF REPORTING PERSON (See Instructions)
CO |
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| CUSIP No: 13089P101 | | Page 4 of 8 Pages |
Explanatory Note:
This Amendment No. 2 (this “Amendment”) is being filed by the Reporting Persons (as defined below) to amend and restate certain of the items set forth in the Schedule 13D (the “Initial Filing”) filed by the Reporting Persons with the U.S. Securities and Exchange Commission (the “SEC”) on April 21, 2022, as amended by Amendment No. 1 to the Initial Filing (collectively, the “Prior Filing”) in relation to the common stock, par value $0.0001 per share (the “Common Stock”), of Calithera Biosciences, Inc, a Delaware corporation (the “Issuer”). Information reported in the Prior Filing remains in effect except to the extent that it is amended or superseded by information contained in this Amendment. Capitalized terms used herein but not defined shall have the meaning given to them in the Prior Filing. This Amendment constitutes an exit filing of the Reporting Persons.
Item 3.Source and Amount of Funds or Other Consideration.
Item 3 of the Prior Filing is hereby amended and restated as follows:
In accordance with a certain Asset Purchase Agreement between the Issuer and Millennium Pharmaceuticals, Inc. (“Millennium”) dated as of October 18, 2021 (the “APA”), Millennium and the Issuer entered into a Preferred Stock Purchase Agreement (the “Purchase Agreement”), pursuant to which the Issuer issued to Millennium 1,000,000 shares of the Issuer’s Series A convertible preferred stock (the “Preferred Stock”) as part of the purchase price paid by the Issuer to acquire or license from Millennium certain technology, intellectual property and other assets.
On July 1, 2022, the Reporting Persons effected an internal reorganization (the “Restructuring”) whereby Millennium, a wholly owned subsidiary of Takeda Pharmaceuticals U.S.A. (“TPUSA”), distributed the Preferred Stock to TPUSA. Immediately thereafter and in connection with the Restructuring, the Preferred Stock was contributed by TPUSA to Takeda Ventures, Inc. (“TVI”). No additional consideration was received by Millennium, TPUSA or TVI in relation to the distribution or contribution of the Preferred Stock.
On April 17, 2023, TVI and the Issuer entered into a Securities Repurchase and CVR Agreement (the “SPA”) pursuant to which, amongst other things, the Issuer repurchased the Preferred Stock for (i) $4.0 million in aggregate cash consideration, (ii) a right to receive certain securities held by the Issuer and (iii) a contingent value right entitling TVI to receive all the remaining proceeds from the sale of the Issuer’s assets (not to exceed a specified amount), after establishing a reserve, which will be used to pay all expenses and other known, non-contingent liabilities and obligations, and includes reasonable provision for future expenses of liquidation and contingent and unknown liabilities as required by Delaware law; provided, however, TVI agreed that if the holders of the Common Stock approved the its Plan of Dissolution at a special meeting before June 30, 2023, then the Issuer could distribute up to $0.40 per share in a common stock liquidating distribution to the holders of Common Stock prior to any future distribution to Takeda pursuant to the contingent value right; provided, further, if the holders of Common Stock do not approve the Issuer’s Plan of Dissolution at a special meeting before June 30, 2023, then the Issuer will not make the aforementioned common stock liquidating distribution to the holders of Common Stock.
The information set forth in or incorporated by reference into Items 4, 5 and 6 of this Amendment is hereby incorporated by reference in its entirety into this Item 3.
Item 4.Purpose of Transaction.
Item 4 of the Prior Filing is hereby amended and restated in its entirety as follows:
On October 18, 2021, in accordance with the APA, Millennium and the Issuer entered into the Purchase Agreement, pursuant to which the Issuer issued to Millennium 1,000,000 shares of Preferred Stock, at a valuation of $2.04 per equivalent one share of Common Stock for an aggregate deemed issue price of $35.0 million.
On May 23, 2022, the Issuer and Millennium entered into an amendment to the APA (the “APA Amendment”) to amend certain economic terms under the APA. Pursuant to the APA Amendment, on May 23, 2022, the Issuer filed a Certificate of Amendment to the Certificate of Designations, which limits the aggregate number of shares of Common Stock to be issued upon conversion of the Preferred Stock to a maximum of 6,644,014 shares of Common Stock (the “Share Cap,” as adjusted for the Reverse Split (as defined below)), subject to adjustment in the event of a stock split, stock dividend, combination or other proportionate adjustment.
On June 1, 2022, the Issuer’s stockholders approved the issuance of more than 20% of the outstanding shares of Common Stock to Millennium (“the Stockholder Approval”), thereby increasing Millennium’s beneficial
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| CUSIP No: 13089P101 | | Page 5 of 8 Pages |
ownership of Common Stock from 14,817,484 to 17,156,863 before the Reverse Split (as defined below) took effect.
On June 14, 2022, the Issuer effected a one-for-twenty (1:20) reverse stock split (the “Reverse Split”), whereby every twenty shares of Common Stock was automatically converted into one share of Common Stock. The conversion price of the Preferred Stock was proportionately adjusted from $2.04 per share to $40.80 per share in connection with the Reverse Split.
In connection with the Restructuring, Millennium, TPUSA and TVI entered into a Master Interest Transfer Agreement (the “Transfer Agreement”), dated as of July 1, 2022, pursuant to which Millennium distributed the Preferred Stock to TPUSA and, immediately thereafter, TPUSA contributed the Preferred Stock to TVI.
On April 17, 2023, the Issuer repurchased the Preferred Stock pursuant to the terms of the SPA. The SPA contemplates a potential liquidation of the issuer and the distribution of a material amount of the Issuer’s assets to TVI.
Millennium acquired the securities described in this Amendment in connection with the APA and the Purchase Agreement. Subsequently, Millennium distributed the securities described in this Amendment to TVI in connection with the Restructuring pursuant to the Transfer Agreement. Each of the Reporting Persons intends to review its investment on a regular basis and, as a result thereof, may at any time or from time to time determine, either alone or as part of a group, (a) to acquire additional securities of the Issuer, through open market purchases, privately negotiated transactions or otherwise, (b) to dispose of all or a portion of the securities of the Issuer owned by it in the open market, in privately negotiated transactions or otherwise, or (c) to take any other available course of action, which could involve one or more of the types of transactions or have one or more of the results described in the next paragraph of this Item 4. Any such acquisition or disposition or other transaction would be made in compliance with all applicable laws and regulations. Notwithstanding anything contained herein, each of the Reporting Persons specifically reserves the right to change its intention with respect to any or all of such matters. In reaching any decision as to its course of action (as well as to the specific elements thereof), each of the Reporting Persons currently expects that it would take into consideration a variety of factors, including, but not limited to, the following: the Issuer’s business and prospects; other developments concerning the Issuer and its businesses generally; other business opportunities available to the Issuer; changes in law and government regulations; general economic conditions; and monetary and stock market conditions, including the market price of the securities of the Issuer.
Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or would result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although, depending on the factors discussed herein, the Reporting Persons may change their purpose or formulate different plans or proposals with respect thereto at any time.
The information set forth in or incorporated by reference into Items 3, 5 and 6 of this Amendment is hereby incorporated by reference in its entirety into this Item 4.
Item 5.Interest in Securities of the Issuer.
Item 5 of the Prior Filing is hereby amended and restated in its entirety as follows:
(a) See rows (11) and (13) of the cover pages to this Amendment for the aggregate number of Shares and percentage of Shares beneficially owned by the Reporting Persons.
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| CUSIP No: 13089P101 | | Page 6 of 8 Pages |
(b) See rows (7) through (10) of the cover pages to this Amendment for the number of Shares as to which the Reporting Persons have the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c) Other than the Issuer’s repurchase of the Preferred Stock (which were convertible into Common Stock) pursuant to the SPA, no transactions in Common Stock were effected by the Reporting Persons during the 60 days prior to the date hereof.
(d) To the best knowledge of the Reporting Persons, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by the Reporting Persons.
(e) Not applicable.
Item 6.Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
Item 6 of the Prior Filing is hereby amended and restated in its entirety as follows:
Item 4 above summarizes certain provisions of the APA, the APA Amendment, the Transfer Agreement, the Purchase Agreement and SPA and is incorporated herein by reference. A copy of each of the APA, APA Amendment, the Purchase Agreement and the SPA is attached as an exhibit to this Amendment and incorporated herein by reference.
Except as set forth herein, the Reporting Persons do not have any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including but not limited to any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.
Item 7.Material to be Filed as Exhibits.
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| Exhibit No. | Description |
| 1 | |
| 2 | |
| 3 | |
| 4 | |
| 5 | |
| 6 | |
| 7 | |
| 8* | |
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| CUSIP No: 13089P101 | | Page 7 of 8 Pages |
*Certain portions of this exhibit have been omitted and filed separately with the Securities and Exchange Commission under a confidential treatment request pursuant to Rule 24b-2 of the Securities Exchange Act of 1934.
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| CUSIP No: 13089P101 | | Page 8 of 8 Pages |
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.
Dated: May 26, 2023
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TAKEDA PHARMACEUTICAL COMPANY LIMITED |
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| By | /s/ Yoshihiro Nakagawa |
| Name: | Yoshihiro Nakagawa |
| Title: | Global General Counsel |
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TAKEDA VENTURES, INC.. |
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| By | /s/ Michael Martin |
| Name: | Michael Martin |
| Title: | President |
SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS OF THE REPORTING PERSONS
Takeda Pharmaceutical Company Limited
The name, business address, title and present principal occupation or employment of each of the directors and executive officers of Takeda Pharmaceutical Company Limited (“Takeda”) are set forth below. If no address is given, the business address is 1-1, Nihonbashi-Honcho 2-Chome, Chuo-Ku, Tokyo MO 103-8668.
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| Director | Principal Occupation | Citizenship |
| Christophe Weber | Representative Director, President and Chief Executive Officer of Takeda | France |
| Masato Iwasaki, Ph.D. | Representative Director, Japan General Affairs at Takeda | Japan |
| Andrew S. Plump, M.D., Ph.D. | President, Research and Development of Takeda | US |
| Costa Saroukos | Chief Financial Officer of Takeda | Australia |
| Olivier Bohuon | Former Director and Chairman at LEO Pharma A/S | France |
| Jean-Luc Butel | Global Healthcare Advisor, President of K8 Global Pte. Ltd | Singapore |
| Ian Clark | Former CEO and Director of Genentech Inc. | US |
| Yoshiaki Fujimori | Senior Executive Advisor of CVC Japan | Japan |
| Steven Gillis | Managing Director at ARCH Venture Partners | US |
| John Maraganore | Former Chief Executive Officer and Director of Alnylam Pharmaceuticals | US |
| Kimberly A. Reed | Former Chairman of the Board of Directors, President and CEO of the Export-Import Bank of the United States | US |
| Koji Hatsukawa | Former CEO of PricewaterhouseCoopers Arata | Japan |
| Emiko Higashi | Managing Director of Tomon Partners, LLC | Japan |
| Michel Orsinger | Former Member of Global Management Team of Johnson & Johnson | Switzerland |
| Masami Iijima | Counselor of Mitsui & Co., Ltd | Japan |
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| Executive Officer | Title – Principal Occupation | Citizen |
| Christophe Weber | President and Chief Executive Officer | France |
| Masato Iwasaki, Ph.D. | Director, Japan General Affairs | Japan |
| Andrew S. Plump, M.D., Ph.D. | President, Research and Development | US |
| Costa Saroukos | Chief Financial Officer | Australia |
| Gabriele Ricci | Chief Data & Technology Officer | Italy |
| Giles Platford | President, Plasma-Derived Therapies Business Unit | UK |
| Gerald Greco | Global Quality Officer | US |
| Julie Kim | President, US Business Unit | US |
| Koki Sato | Corporate Strategy Officer & Chief of Staff | Japan |
| Lauren Duprey | Chief Human Resources Officer | US |
| Marcello Agosti | Global Business Development Officer | Italy |
| Milano Furuta | President, Japan Pharma Business Unit | Japan |
| Mwana Lugogo | Chief Ethics & Compliance Officer | Kenya |
| Ramona Sequeira | President, Global Portfolio Division | Canada |
| Takako Ohyabu | Chief Global Corporate Affairs & Sustainability Officer | Japan |
| Teresa Bitetti | President, Global Oncology Business Unit | US |
| Thomas Wozniewski | Global Manufacturing & Supply Officer | Germany |
| Yoshihiro Nakagawa | Global General Counsel | Japan |
Takeda Ventures, Inc.
The name, business address, title and present principal occupation or employment of each of the directors and executive officers of Takeda Ventures, Inc. (“TVI”) are set forth below. If no address is given, the business address is 9625 Towne Centre Drive, San Diego, California 92121.
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| Director | Principal Occupation | Citizenship |
| Michael Martin | Head of TVI | US |
| Andrew Plump | President, Research & Development | US |
| Steve Hitchcock | Chief Scientific Officer | US |
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| Director | Title – Principal Occupation | Citizenship |
| Michael Martin | President, Treasurer and Secretary | US |
| Paul Sundberg | Assistant Secretary | US |
| Scott Dessing | Assistant Treasurer | US |