Connect Biopharma Holdings Limited
21.50%
12,000,000
1835268
G23549101
Nov 23, 2025
Nov 26, 2025, 04:30 PM
Reporting Persons (4)
This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.
| Name | Type | % of Class | Aggregate | Sole Voting | Shared Voting |
|---|---|---|---|---|---|
| Panacea Innovation Limited | CO | 21.50% | 12,000,000 | 0 | 12,000,000 |
| Panacea Venture Healthcare Fund II, L.P. | Partnership | 21.50% | 12,000,000 | 0 | 12,000,000 |
| Panacea Venture Healthcare Fund II GP Company, Ltd. | CO | 21.50% | 12,000,000 | 0 | 12,000,000 |
| James Huang | Individual | 21.50% | 12,000,000 | 0 | 12,000,000 |
Disclosure Items (3)
Ordinary Shares
Connect Biopharma Holdings Limited
3580 Carmel Mountain Road, San Diego, CA, 92130
Item 3 of the Schedule 13D is hereby amended and supplemented as follows: Since Amendment No. 3, Panacea Venture Healthcare Fund II, L.P. has purchased 50,000 Ordinary Shares in a series of open market transactions at a weighted average price of $1.4641 per Ordinary Share. Panacea Venture Healthcare Fund II, L.P. obtained the funds used to purchase the Ordinary Shares through capital contributions from its partners.
Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: The information contained on the cover pages to this Schedule 13D is incorporated by reference into this Item 5. The ownership information presented herein represents beneficial ownership of Ordinary Shares as of the date of this filing, based upon 55,903,513 Ordinary Shares outstanding as of October 31, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on November 12, 2025. Panacea Venture Healthcare Fund II, L.P. is the record holder of the Ordinary Shares reported herein. James Huang is the sole owner of Panacea Innovation Limited, which is the sole owner of Panacea Venture Healthcare Fund II GP Company, Ltd., which is the general partner of Panacea Venture Healthcare Fund II, L.P. As a result, each of the Reporting Persons may be deemed to share beneficial ownership of the Ordinary Shares directly reported herein, but each disclaims such beneficial ownership.
The information contained on the cover pages to this Schedule 13D is incorporated by reference into this Item 5.
During the past 60 days, Panacea Venture Healthcare Fund II, L.P. purchased 50,000 Ordinary Shares on September 30, 2025 in open market transactions on the Nasdaq Global Market for a weighted average price of $1.464 per Ordinary Share. Additionally, on November 24, 2025, Panacea Venture Healthcare Fund II, L.P. sold 2,000,000 Ordinary Shares for $3.00 per Ordinary Share.
None
Not applicable.