[SCHEDULE 13G] Vicore Pharma Holding AB Passive Investment Disclosure (>5%)
Vicore Pharma: HBM may beneficially own about 8%
Vicore Pharma Holding AB’s Schedule 13G reports that HBM Healthcare Investments (Cayman) Ltd. may be deemed beneficial owner of 22,505,819 Common Shares, approximately 8% of the class, based on 281,644,509 Common Shares outstanding as of September 30, 2026.
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Vicore Pharma Holding AB’s Schedule 13G reports that HBM Healthcare Investments (Cayman) Ltd. may be deemed beneficial owner of 22,505,819 Common Shares, approximately 8% of the class, based on 281,644,509 Common Shares outstanding as of September 30, 2026. HBM reports sole voting and dispositive power over 22,505,819 shares and no shared power. It reported 22,687,752 shares and approximately 8.1% as of June 30, 2026, based on 281,525,593 shares outstanding.
Voting and investment power over HBM’s shares is exercised by its board. The listed board members are Jean-Marc LeSieur, Managing Director, Richard H. Coles, Sophia Harris, Dr. Andreas Wicki, Mark Kronenfeld, M.D., and Richard Paul Woodhouse; none has individual voting or investment power.
Key Figures
Beneficial ownership:22,505,819 Common SharesOwnership percentage:Approximately 8%Common Shares outstanding:281,644,509 Common Shares+3 more
6 metrics
Beneficial ownership22,505,819 Common SharesHBM may have been deemed the beneficial owner as of the date of the statement
Ownership percentageApproximately 8%As of the date of the statement; based on 281,644,509 Common Shares outstanding as of September 30, 2026
Common Shares outstanding281,644,509 Common SharesAs of September 30, 2026
Beneficial ownership22,687,752 Common SharesAs of June 30, 2026
Ownership percentageApproximately 8.1%As of June 30, 2026; based on 281,525,593 Common Shares outstanding
ADS representationTen Common Shares per ADSEach American Depositary Share represents ten Common Shares
Key Terms
beneficial owner, sole voting power, sole dispositive power, American Depositary Shares
4 terms
beneficial ownerfinancial
"may have been deemed the beneficial owner of 22,505,819 Common Shares"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
sole voting powerfinancial
"Sole power to vote or to direct the vote"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
sole dispositive powerfinancial
"Sole power to dispose or to direct the disposition of"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
American Depositary Sharesfinancial
"the issuer's American Depositary Shares ("ADSs")"
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many VCRE shares may HBM Healthcare Investments be deemed to own?
HBM may be deemed beneficial owner of 22,505,819 Common Shares, approximately 8% of the class. The percentage is based on 281,644,509 Common Shares outstanding as of September 30, 2026.
What does the CUSIP in VCRE’s ownership statement identify?
The CUSIP identifies Vicore Pharma Holding AB’s American Depositary Shares (ADSs), and each ADS represents ten Common Shares. The ADSs are not treated as a separate class for the stated beneficial-ownership calculation, which is reported in Common Shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Vicore Pharma Holding AB
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
92581R104
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
92581R104
1
Names of Reporting Persons
HBM Healthcare Investments (Cayman) Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
22,505,819.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
22,505,819.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,505,819.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Voting and investment power over the shares held by HBM Healthcare Investments (Cayman) Ltd. is exercised by the board of directors of HBM Healthcare Investments (Cayman) Ltd. (the "Board"). The Board consists of Jean-Marc LeSieur, Richard H. Coles, Sophia Harris, Dr. Andreas Wicki, Mark Kronenfeld, M.D., and Richard Paul Woodhouse, none of whom has individual voting or investment power with respect to the shares.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Vicore Pharma Holding AB
(b)
Address of issuer's principal executive offices:
Kornhamnstorg 53, SE-111 27, Stockholm, Sweden
Item 2.
(a)
Name of person filing:
HBM Healthcare Investments (Cayman) Ltd. (the "Reporting Person")
(b)
Address or principal business office or, if none, residence:
Governors Square, 23 Lime Tree Bay Avenue, PO Box 30852, Grand Cayman, KY1-1204, Cayman Islands
(c)
Citizenship:
Cayman Islands, British West Indies
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP Number(s):
92581R104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The CUSIP provided in this statement is the CUSIP for the Issuer's American Depositary Shares ("ADSs"). Each one ADS represents ten (10) Common shares, no par value, of the Issuer ("Common Shares"). The ADSs are not deemed a separate class of securities for purposes of calculating beneficial ownership under Section 13(d) of the Securities Exchange Act of 1934, as amended. Accordingly, the Reporting Person's beneficial ownership is reported in this Schedule 13G in terms of Common Shares, not ADSs. However, the CUSIP provided in this statement is the CUSIP for the Issuer's ADSs because there is no CUSIP number assigned to the Common Shares.
As of June 30, 2026, the Reporting Person may have been deemed the beneficial owner of 22,687,752 Common Shares.
As of the date hereof, the Reporting Person may be deemed the beneficial owner of 22,505,819 Common Shares.
(b)
Percent of class:
As of June 30, 2026, the Reporting Person may have been deemed the beneficial owner of approximately 8.1% of the Common Shares outstanding, based on 281,525,593 Common Shares outstanding as of June 30, 2026, as reported in Exhibit 99.1 to the Issuer's current report on Form 6-K filed with the Securities and Exchange Commission on August 21, 2026.
As of the date hereof, the Reporting Person may be deemed the beneficial owner of approximately 8% of the Common Shares outstanding. The percentage set forth herein is calculated based on 281,644,509 Common Shares outstanding as of September 30, 2026, as reported in Exhibit 99.1 to the Issuer's current report on Form 6-K filed with the Securities and Exchange Commission on September 30, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
22,505,819
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
22,505,819
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
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.
