SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 

SCHEDULE 13D
 
UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
(Amendment No. 1)* 
 

ALBIREO PHARMA, INC.
(Name of Issuer)
 
Common Stock, par value $0.01 per share
(Title of Class of Securities)
 
01345P 106
(CUSIP Number)
 
Charles Sermon
Phase4 Partners Limited
1 Cavendish Place
London W1G 0QF, United Kingdom
Telephone: +44 0 20 3036 0050
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
 
January 30, 2018
(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.
 

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 persons 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 No. 01345P 106
Schedule 13D
 
1
NAME OF REPORTING PERSON
 
 
Phase4 Partners Limited
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
☒ (joint filers)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS
 
 
OO
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
England and Wales
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
1,065,447 shares1
 
 
 
 
8
SHARED VOTING POWER
 
 
0 shares
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
1,065,447 shares1
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
0 shares
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,065,447 shares1
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
9.56%2
 
 
 
 
14
TYPE OF REPORTING PERSON
 
 
OO
 
 
 
 
 

1 
Represents shares held by Phase4 Ventures III GP LP (Phase4 GPLP) in its capacity as general partner of Phase4 Ventures III LP (Phase4 III). Phase4 GPLP is the general partner of Phase4 III. The general partner of Phase4 GPLP is Phase4 Ventures III General Partner Limited (Phase4 GP). Phase4 GP has appointed Phase4 Partners Limited (Phase4 Partners) to act as the manager of Phase4 III. Phase4 Partners ultimately exercises voting and investment power over the securities held by Phase4 GPLP. Dr. Alastair McKinnon, Denise Scots-Knight, Ph.D. and Charles Sermon are Directors of Phase4 Partners. Phase4 Partners, Phase4 GP, Phase4 GPLP and Phase4 III may each be deemed to have sole voting and dispositive power over the shares and Dr. McKinnon, Dr. Scots-Knight and Mr. Sermon may each be deemed to have shared voting and dispositive power over the shares.
2 
The percentage ownership was calculated based on 11,148,285 shares of common stock outstanding as of the completion of the offering disclosed in the Prospectus Supplement to the Registration Statement on Form S-3 (File No. 333-220958) filed by Albireo Pharma, Inc. (the “Issuer”) with the Securities and Exchange Commission on January 25, 2018, and the disclosure by the Issuer of the successful completion of this offering in a press release dated January 29, 2018.
 

CUSIP No. 01345P 106
Schedule 13D
 
1
NAME OF REPORTING PERSON
 
 
Phase4 Ventures III LP
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
☒ (joint filers)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS
 
 
OO
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
England and Wales
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
 1,065,447 shares3
 
 
 
 
8
SHARED VOTING POWER
 
 
0 shares
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
 1,065,447 shares3
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
0 shares
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
 1,065,447 shares3
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
9.56%4
 
 
 
 
14
TYPE OF REPORTING PERSON
 
 
PN
 
 
 
 
 

3 
See footnote 1.
4 
See footnote 2.
 

CUSIP No. 01345P 106
Schedule 13D
 
1
NAME OF REPORTING PERSON
 
 
Phase4 Ventures III GP LP
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
☒ (joint filers)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS
 
 
OO
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Scotland
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
1,065,447 shares5
 
 
 
 
8
SHARED VOTING POWER
 
 
0 shares
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
1,065,447 shares5
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
0 shares
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,065,447 shares5
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
9.56%6
 
 
 
 
14
TYPE OF REPORTING PERSON
 
 
PN
 
 
 
 
 

5 
See footnote 1.
6 
See footnote 2.
 

CUSIP No. 01345P 106
Schedule 13D
 
1
NAME OF REPORTING PERSON
 
 
Phase4 Ventures III General Partner Limited
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
☒ (joint filers)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS
 
 
OO
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Scotland
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
1,065,447 shares7
 
 
 
 
8
SHARED VOTING POWER
 
 
0 shares
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
1,065,447 shares7
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
0 shares
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,065,447 shares7
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
9.56%8
 
 
 
 
14
TYPE OF REPORTING PERSON
 
 
OO
 
 
 
 
 

7
See footnote 1.
8
See footnote 2.
 

CUSIP No. 01345P 106
Schedule 13D
 
1
NAME OF REPORTING PERSON
 
 
Dr. Alastair McKinnon
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
☒ (joint filers)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS
 
 
OO
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
United Kingdom
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
0 shares
 
 
 
 
8
SHARED VOTING POWER
 
 
1,065,447 shares9
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
0 shares
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
1,065,447 shares9
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,065,447 shares9
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
9.56%10
 
 
 
 
14
TYPE OF REPORTING PERSON
 
 
IN
 
 
 
 
 

9
See footnote 1.
10
See footnote 2.
 

CUSIP No. 01345P 106
Schedule 13D
 
1
NAME OF REPORTING PERSON
 
 
Denise Scots-Knight, Ph.D.
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
☒ (joint filers)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS
 
 
OO
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
United Kingdom
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
0 shares
 
 
 
 
8
SHARED VOTING POWER
 
 
1,065,447 shares11
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
0 shares
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
1,065,447 shares11
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,065,447 shares11
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
9.56%12
 
 
 
 
14
TYPE OF REPORTING PERSON
 
 
IN
 
 
 
 
 

11 
See footnote 1.
12 
See footnote 2.
 

CUSIP No. 01345P 106
Schedule 13D
 
1
NAME OF REPORTING PERSON
 
 
Charles Sermon
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
☒ (joint filers)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS
 
 
OO
 
 
 
 
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
United Kingdom
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
0 shares
 
 
 
 
8
SHARED VOTING POWER
 
 
1,065,447 shares13
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
0 shares
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
1,065,447 shares13
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
1,065,447 shares13
 
 
 
 
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
9.56%14
 
 
 
 
14
TYPE OF REPORTING PERSON
 
 
IN
 
 
 
 
 

13
See footnote 1.
14
See footnote 2.
 

Schedule 13D 
 
This Amendment No. 1 (“Amendment No. 1”) amends the Statement on Schedule 13D first filed with the Securities and Exchange Commission on November 3, 2016, (as amended, the “Schedule 13D”), and is filed by the Reporting Persons with respect to the common stock, par value $0.01 per share (the “Common Stock”), of Albireo Pharma, Inc. (the Issuer). Capitalized terms used herein but not defined
 
Item 5.
Interest in Securities of the Issuer.
 
(a)-(b):
 
Number of shares of Common Stock beneficially owned:
 
Phase4 Partners
 
1,065,447 shares
 
Phase4 III
 
1,065,447 shares
 
Phase4 GPLP
 
1,065,447 shares
 
Phase4 GP
 
1,065,447 shares
 
Dr. Alastair McKinnon
 
1,065,447 shares
 
Denise Scots-Knight, Ph.D.
 
1,065,447 shares
 
Charles Sermon
 
1,065,447 shares
 
 
Percent of class:
 
Phase4 Partners Limited
 
9.56%
 
Phase4 Ventures III LP
 
9.56%
 
Phase4 Ventures III GP LP
 
9.56%
 
Phase4 Ventures III General Partner Limited
 
9.56%
 
Dr. Alastair McKinnon
 
9.56%
 
Dr. Denise Scots-Knight
 
9.56%
 
Charles Sermon
 
9.56%
 
 
(The percentage ownership was calculated based on 11,148,285 shares of common stock outstanding as of the completion of the offering disclosed in the Prospectus Supplement to the Registration Statement on Form S-3 (File No. 333-220958) filed by the Issuer with the Securities and Exchange Commission on January 25, 2018, and the disclosure by the Issuer of the successful completion of this offering in a press release dated January 29, 2018.)
 

Number of shares as to which such person has:
 
(i)
Sole power to vote or to direct the vote:

Phase4 Partners
 
1,065,447 shares
 
Phase4 III
 
1,065,447 shares
 
Phase4 GPLP
 
1,065,447 shares
 
Phase4 GP
 
1,065,447 shares
 
Dr. Alastair McKinnon
 
0 shares
 
Denise Scots-Knight, Ph.D.
 
0 shares
 
Charles Sermon
 
0 shares
 
 
(ii)
Shared power to vote or to direct the vote:

Phase4 Partners
 
0 shares
 
Phase4 III
 
0 shares
 
Phase4 GPLP
 
0 shares
 
Phase4 GP
 
0 shares
 
Dr. Alastair McKinnon
 
1,065,447 shares
 
Denise Scots-Knight, Ph.D.
 
1,065,447 shares
 
Charles Sermon
 
1,065,447 shares
 
 
(iii)
Sole power to dispose or to direct the disposition of:

Phase4 Partners
 
1,065,447 shares
 
Phase4 III
 
1,065,447 shares
 
Phase4 GPLP
 
1,065,447 shares
 
Phase4 GP
 
1,065,447 shares
 
Dr. Alastair McKinnon
 
0 shares
 
Denise Scots-Knight, Ph.D.
 
0 shares
 
Charles Sermon
 
0 shares
 
 
(iv)
Shared power to dispose or to direct the disposition of:

Phase4 Partners
 
0 shares
 
Phase4 III
 
0 shares
 
Phase4 GPLP
 
0 shares
 
Phase4 GP
 
0 shares
 
Dr. Alastair McKinnon
 
1,065,447 shares
 
Denise Scots-Knight, Ph.D.
 
1,065,447 shares
 
Charles Sermon
 
1,065,447 shares
 
 
(c) On January 30, 2018, 100,000 shares of Common Stock held by Phase4 GPLP, in its capacity as general partner of Phase4 III, were sold in open market transactions as follows:
 
Number of Shares of
Common Stock
   
Price per Share*
   
 
Price Range
 
               
98,500
   
$
34.4006
   
$
34.40
   
$
34.71
 
1,500
   
$
37.0587
   
$
36.60
   
$
37.43
 
*The number of securities reported represent an aggregate number of shares executed by a broker-dealer in multiple market transactions over a range of prices. The price per share reported represents the weighted-average price (without regard to brokerage commissions and fees). The Reporting Persons undertake to provide the staff of the Securities and Exchange Commission, upon request, the number of shares executed at each separate price within the range.
 
Except as set forth above, the Reporting Persons have not effected any transactions with respect to the shares of the Common Stock during the past 60 days.

(d) Not applicable.
(e) Not applicable.
 

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.
 
Date: February 2, 2018
PHASE4 PARTNERS LIMITED
   
 
By:
/s/ Charles Sermon
 
Name: Charles Sermon
 
Title: Director
    
Date: February 2, 2018
PHASE4 VENTURES III LP
    
 
By: Phase4 Partners Limited, its Manager
   
 
By:
/s/ Charles Sermon
 
Name: Charles Sermon
 
Title Director
    
Date: February 2, 2018
PHASE4 VENTURES III GP LP
    
 
By: Phase4 Ventures III General Partner Limited,
 
its general partner
   
 
By:
/s/ Charles Sermon
 
Name: Charles Sermon
 
Title Director
    
Date: February 2, 2018
PHASE4 VENTURES III GENERAL PARTNER
 
LIMITED
   
 
By:
/s/ Charles Sermon
 
Name: Charles Sermon
 
Title Director
    
Date: February 2, 2018
/s/ Alastair McKinnon
 
Alastair McKinnon
    
Date: February 2, 2018
/s/ Denise Scots-Knight
 
Denise Scots-Knight
    
Date: February 2, 2018
/s/ Charles Sermon
 
Charles Sermon