Lycia Therapeutics reports Versant preferred holdings

The preferred shares convert automatically into common stock upon the issuer’s initial public offering closing, without payment of consideration.

Rhea-AI Filing Summary

On October 22, 2026, Lycia Therapeutics, Inc. reported indirect preferred-stock holdings associated with six reporting persons identified as ten percent owners: Versant Ventures VII GP, L.P., Versant Venture Capital VII, L.P., Versant Ventures VII GP-GP, LLC, Versant Vantage II, L.P., Versant Vantage II GP, L.P., and Versant Vantage II GP-GP, LLC. Versant Venture Capital VII, L.P. directly holds Series A Preferred Stock with 25,390,410 common shares reported as underlying; Versant Vantage II, L.P. directly holds Series B Preferred Stock with 6,284,597 common shares reported as underlying. Each preferred share is convertible at the holder’s option on a one-for-0.221793422 basis and converts automatically upon closing of the issuer’s initial public offering, without payment of consideration. The general partners disclaim beneficial ownership except to the extent of their respective pecuniary interests.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Versant Ventures VII GP, L.P., Versant Venture Capital VII, L.P., Versant Ventures VII GP-GP, LLC, Versant Vantage II, L.P., Versant Vantage II GP, L.P., Versant Vantage II GP-GP, LLC

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner

Type	Security	Shares	Price	Value
holding	Series A Preferred Stock F1, F2	--	--	--
holding	Series B Preferred Stock F1, F3	--	--	--

Holdings After Transaction: Series A Preferred Stock — 25,390,410 contracts (Indirect, See Footnote); Series B Preferred Stock — 6,284,597 contracts (Indirect, See Footnote)

Footnotes (3)

1. F1. Each share of Series A Preferred Stock and Series B Preferred Stock is convertible into Common Stock on a one-for-0.221793422 basis at the option of the holder, and will convert automatically upon the closing of the Issuer's initial public offering without payment of consideration. The Series A Preferred Stock and Series B Preferred Stock have no expiration date.
2. F2. The shares are held directly by Versant Venture Capital VII, L.P. ("VVC VII"). Versant Ventures VII GP, L.P. ("VV VII GP") is the general partner of VVC VII, and Versant Ventures VII GP-GP, LLC ("VV VII GP-GP") is the general partner of VV VII GP. Each of VV VII GP-GP and VV VII GP disclaims beneficial ownership of the shares held by VVC VII, except to the extent of their respective pecuniary interests therein.
3. F3. The shares are held directly by Versant Vantage II, L.P. ("VV II"). Versant Vantage II GP, L.P. ("VV II GP") is the general partner of VV II, and Versant Vantage II GP-GP, LLC ("VV II GP-GP") is the general partner of VV II GP. Each of VV II GP-GP and VV II GP disclaims beneficial ownership of the shares held by VV II, except to the extent of their respective pecuniary interests therein.

Key Figures

Common shares underlying Series A Preferred Stock: 25,390,410 common shares Common shares underlying Series B Preferred Stock: 6,284,597 common shares Preferred-to-common conversion basis: one-for-0.221793422

3 metrics

Common shares underlying Series A Preferred Stock 25,390,410 common shares Reported October 22, 2026

Common shares underlying Series B Preferred Stock 6,284,597 common shares Reported October 22, 2026

Preferred-to-common conversion basis one-for-0.221793422 Series A and Series B Preferred Stock

Key Terms

convertible, general partner, pecuniary interests

3 terms

convertible financial

"convertible into Common Stock"

A convertible is a type of investment that starts as a loan or preferred stake (like a bond or preferred share) but can be exchanged for common shares of the company at a set price or under certain conditions. It matters to investors because it offers a mix of steady income and downside protection like a loan, plus the upside of stock ownership if the company does well—similar to holding a coupon that you can trade for a full ticket if the event becomes valuable.

general partner financial

"is the general partner of VVC VII"

A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.

pecuniary interests financial

"except to the extent of their respective pecuniary interests therein"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/24/2026 - 08:15 PM EDT Accepted by SEC EDGAR 10/22/2026 - 07:20 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Versant Ventures VII GP, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
10/22/2026

3. Issuer Name and Ticker or Trading Symbol
Lycia Therapeutics, Inc. [ LYCA ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series A Preferred Stock	(1)	(1)	Common Stock	25,390,410	(1)	I	See Footnote(2)
Series B Preferred Stock	(1)	(1)	Common Stock	6,284,597	(1)	I	See Footnote(3)

1. Name and Address of Reporting Person^*

Versant Ventures VII GP, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Versant Venture Capital VII, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Versant Ventures VII GP-GP, LLC

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Versant Vantage II, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Versant Vantage II GP, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Versant Vantage II GP-GP, LLC

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Each share of Series A Preferred Stock and Series B Preferred Stock is convertible into Common Stock on a one-for-0.221793422 basis at the option of the holder, and will convert automatically upon the closing of the Issuer's initial public offering without payment of consideration. The Series A Preferred Stock and Series B Preferred Stock have no expiration date.

2. The shares are held directly by Versant Venture Capital VII, L.P. ("VVC VII"). Versant Ventures VII GP, L.P. ("VV VII GP") is the general partner of VVC VII, and Versant Ventures VII GP-GP, LLC ("VV VII GP-GP") is the general partner of VV VII GP. Each of VV VII GP-GP and VV VII GP disclaims beneficial ownership of the shares held by VVC VII, except to the extent of their respective pecuniary interests therein.

3. The shares are held directly by Versant Vantage II, L.P. ("VV II"). Versant Vantage II GP, L.P. ("VV II GP") is the general partner of VV II, and Versant Vantage II GP-GP, LLC ("VV II GP-GP") is the general partner of VV II GP. Each of VV II GP-GP and VV II GP disclaims beneficial ownership of the shares held by VV II, except to the extent of their respective pecuniary interests therein.

	Versant Venture Capital VII, L.P. By: Versant Ventures VII GP, L.P. Its: General Partner By: Versant Ventures VII GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	10/22/2026
	Versant Ventures VII GP, L.P., By: Versant Ventures VII GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	10/22/2026
	Versant Ventures VII GP-GP, LLC By: /s/ Max Eisenberg Its: Chief Operating Officer	10/22/2026
	Versant Vantage II, L.P. By: Versant Vantage II GP, L.P. Its: General Partner By: Versant Vantage II GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	10/22/2026
	Versant Vantage II GP, L.P., By: Versant Vantage II GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	10/22/2026
	Versant Vantage II GP-GP, LLC By: /s/ Max Eisenberg Its: Chief Operating Officer	10/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)