Schedule 13G/A: Lagoda Discloses 11.3% of VNRX Outstanding Shares

Rhea-AI Filing Summary

Lagoda Investment Management, L.P. reports that its managed accounts held 11,705,000 shares of VolitionRX Ltd common stock as of June 30, 2025, representing 11.3% of the outstanding shares. The filing states the Reporting Person has sole voting and sole dispositive power over all 11,705,000 shares. The report cites 103,982,020 shares outstanding for VolitionRX used to calculate the percentage. The Schedule 13G/A indicates the stake is held in the ordinary course of business and was not acquired to influence control of the issuer.

Positive

• Material disclosed stake: Reporting Person beneficially owns 11,705,000 shares (11.3%) of VolitionRX common stock.
• Clear authority: Reporting Person reports sole voting and sole dispositive power over all reported shares.

Negative

• None.

Insights

Securities Analyst

TL;DR: An investment manager holds an 11.3% passive stake with sole voting and dispositive power over the shares.

The Schedule 13G/A shows Lagoda Investment Management, L.P. exercises sole voting and dispositive authority over 11,705,000 shares of VolitionRX (11.3% of the 103,982,020 shares reported outstanding). Filing under Schedule 13G indicates the position is asserted to be passive and held in the ordinary course of business rather than for control purposes. For investors, a disclosed >5% ownership by an investment adviser is material disclosure of shareholder concentration but does not, per the filing, signal an active control campaign.

Corporate Governance Expert

TL;DR: The holder reports sole voting rights on an 11.3% block while certifying passive intent under Schedule 13G.

The report identifies Fatima Dickey as the sole member of the General Partner with voting and dispositive powers through the adviser structure. The filing includes a certification that the securities were not acquired to change or influence control. This disclosure clarifies beneficial ownership and decision-making authority, which is relevant to board-level stewardship and investor engagement even if the filer claims passive status.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

VolitionRX Ltd

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

928661107

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 928661107

1

Names of Reporting Persons

Lagoda Investment Management, L.P.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,705,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,705,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,705,000.00

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)

11.3 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: See Item 2 for additional information.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: VolitionRX Ltd
(b)	Address of issuer's principal executive offices: 1489 West Warm Springs Road Suite 110 Henderson NV 89014
Item 2.
(a)	Name of person filing: This report on Schedule 13G (this "Schedule 13G") is being filed by Lagoda Investment Management, L.P. (the "Reporting Person"). The Reporting Person serves as the investment manager to certain managed accounts (the "Accounts") and possesses the sole power to vote and the sole power to direct the disposition of all securities of the Issuer held by the Accounts. The general partner of the Reporting Person is Lagoda Investment Management, LLC, a Delaware limited liability company (the "General Partner"). Fatima Dickey, as the sole member of the General Partner, possesses the voting and dispositive power with respect to all securities beneficially owned by the Reporting Person. As of June 30, 2025, the Accounts held 11,705,000 shares of common stock, par value $0.001 per share (the "Common Stock"). Based on information disclosed in the Issuer's Registration Statement on Form S-3 filed with the Securities and Exchange Commission on July 3, 2025, there were 103,982,020 shares of Common Stock outstanding as of June 30, 2025. As a result of the foregoing, for purposes of Reg. Section 240.13d-3, the Reporting Person beneficially owns 11,705,000 shares of Common Stock held in the aggregate by the Accounts.
(b)	Address or principal business office or, if none, residence: The address for the Reporting Person is 3 Columbus Circle, New York, NY 10019.
(c)	Citizenship: The Reporting Person is organized under the laws of the State of Delaware.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 928661107
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: 11,705,000.00
(b)	Percent of class: 11.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11,705,000.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 11,705,000.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
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:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

Lagoda Investment Management, L.P.

Signature:	/s/ Jason A. Ozone
Name/Title:	Chief Financial Officer & Chief Compliance Officer
Date:	08/14/2025

FAQ

How many VolitionRX (VNRX) shares does Lagoda Investment Management own?

The filing reports 11,705,000 shares beneficially owned as of June 30, 2025.

What percentage of VNRX is owned by the reporting person?

The reported stake represents 11.3% of the 103,982,020 shares outstanding used in the filing.

Does Lagoda have voting control over the shares reported in the Schedule 13G/A?

Yes. The filing states the Reporting Person has sole voting and sole dispositive power over all 11,705,000 shares.

Was the position filed as an attempt to influence control of VolitionRX?

No. The certification states the securities were acquired and are held in the ordinary course of business and not to change or influence control.

Who signs the Schedule 13G/A for Lagoda Investment Management?

The filing is signed by Jason A. Ozone, Chief Financial Officer & Chief Compliance Officer, dated 08/14/2025.