<SEC-DOCUMENT>0001104659-21-103596.txt : 20210811
<SEC-HEADER>0001104659-21-103596.hdr.sgml : 20210811
<ACCEPTANCE-DATETIME>20210811172835
ACCESSION NUMBER:		0001104659-21-103596
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210809
FILED AS OF DATE:		20210811
DATE AS OF CHANGE:		20210811

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RA Capital Healthcare Fund LP
		CENTRAL INDEX KEY:			0001315082
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40708
		FILM NUMBER:		211164720

	BUSINESS ADDRESS:	
		STREET 1:		200 BERKELEY STREET
		STREET 2:		18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		6177782500

	MAIL ADDRESS:	
		STREET 1:		200 BERKELEY STREET
		STREET 2:		18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER NAME:	
		FORMER CONFORMED NAME:	RA Capital Biotech Fund LP
		DATE OF NAME CHANGE:	20050121

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RA CAPITAL MANAGEMENT, L.P.
		CENTRAL INDEX KEY:			0001346824
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40708
		FILM NUMBER:		211164721

	BUSINESS ADDRESS:	
		STREET 1:		200 BERKELEY STREET, 18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617-778-2500

	MAIL ADDRESS:	
		STREET 1:		200 BERKELEY STREET, 18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER NAME:	
		FORMER CONFORMED NAME:	RA CAPITAL MANAGEMENT, LLC
		DATE OF NAME CHANGE:	20051213

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Kolchinsky Peter
		CENTRAL INDEX KEY:			0001384859

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40708
		FILM NUMBER:		211164717

	MAIL ADDRESS:	
		STREET 1:		200 BERKELEY STREET
		STREET 2:		18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RA Capital Nexus Fund II, L.P.
		CENTRAL INDEX KEY:			0001825376
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40708
		FILM NUMBER:		211164718

	BUSINESS ADDRESS:	
		STREET 1:		200 BERKELEY STREET, 18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617-778-2500

	MAIL ADDRESS:	
		STREET 1:		200 BERKELEY STREET, 18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Shah Rajeev M.
		CENTRAL INDEX KEY:			0001619841

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40708
		FILM NUMBER:		211164716

	MAIL ADDRESS:	
		STREET 1:		200 BERKELEY STREET
		STREET 2:		18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RA Capital Nexus Fund, L.P.
		CENTRAL INDEX KEY:			0001780117
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40708
		FILM NUMBER:		211164719

	BUSINESS ADDRESS:	
		STREET 1:		200 BERKELEY STREET
		STREET 2:		18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		(617) 778-2500

	MAIL ADDRESS:	
		STREET 1:		200 BERKELEY STREET
		STREET 2:		18TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eliem Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001768446
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				832273741
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		23515 NE NOVELTY HILL RD., SUITE B221 #1
		CITY:			REDMOND
		STATE:			WA
		ZIP:			98077
		BUSINESS PHONE:		16502240857

	MAIL ADDRESS:	
		STREET 1:		23515 NE NOVELTY HILL RD., SUITE B221 #1
		CITY:			REDMOND
		STATE:			WA
		ZIP:			98077
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm2124897-1_4.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-08-09</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001768446</issuerCik>
        <issuerName>Eliem Therapeutics, Inc.</issuerName>
        <issuerTradingSymbol>ELYM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001346824</rptOwnerCik>
            <rptOwnerName>RA CAPITAL MANAGEMENT, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 BERKELEY STREET</rptOwnerStreet1>
            <rptOwnerStreet2>18TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001315082</rptOwnerCik>
            <rptOwnerName>RA Capital Healthcare Fund LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 BERKELEY STREET</rptOwnerStreet1>
            <rptOwnerStreet2>18TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001780117</rptOwnerCik>
            <rptOwnerName>RA Capital Nexus Fund, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 BERKELEY STREET</rptOwnerStreet1>
            <rptOwnerStreet2>18TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001825376</rptOwnerCik>
            <rptOwnerName>RA Capital Nexus Fund II, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 BERKELEY STREET</rptOwnerStreet1>
            <rptOwnerStreet2>18TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001384859</rptOwnerCik>
            <rptOwnerName>Kolchinsky Peter</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O RA CAPITAL MANAGEMENT, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>200 BERKELEY STREET, 18TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001619841</rptOwnerCik>
            <rptOwnerName>Shah Rajeev M.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O RA CAPITAL MANAGEMENT, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>200 BERKELEY STREET, 18TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.50</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-08-09</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>20000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2031-08-08</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">RA Capital Management, L.P. (the &quot;Adviser&quot;) is the investment manager for RA Capital Healthcare Fund, L.P. (the &quot;Fund&quot;), RA Capital Nexus Fund, L.P. (the &quot;Nexus Fund&quot;), RA Capital Nexus Fund II, L.P. (the &quot;Nexus Fund II&quot;) and a separately managed account (the &quot;Account&quot;). The general partner of the Adviser is RA Capital Management GP, LLC (the &quot;Adviser GP&quot;), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.&quot;</footnote>
        <footnote id="F2">For so long as Andrew Levin (&quot;Levin&quot;), a Managing Director of the Adviser who serves on the Issuer's board of directors, continuously provides services to the Issuer, this option will vest with respect to the shares as follows: 1/36th of the shares will vest on each monthly anniversary of August 1, 2021.</footnote>
        <footnote id="F3">Under Levin's arrangement with the Adviser, Levin holds the option for the benefit of the Fund, the Nexus Fund, the Nexus Fund II and the Account. Levin is obligated to turn over to the Adviser any net cash or stock received upon exercise of the option, which will offset advisory fees owed by the Fund, the Nexus Fund, the Nexus Fund II, and the Account to the Adviser. The Reporting Persons therefore disclaims beneficial ownership of the option and underlying common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Peter Kolchinsky, Manager of RA Capital Management, L.P.</signatureName>
        <signatureDate>2021-08-11</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Peter Kolchinsky, Manager of RA Capital Healthcare GP, LLC the General Partner of RA Capital Healthcare Fund, L.P.</signatureName>
        <signatureDate>2021-08-11</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Peter Kolchinsky, Manager of RA Capital Nexus Fund GP, LLC the General Partner of RA Capital Nexus Fund, L.P.</signatureName>
        <signatureDate>2021-08-11</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Peter Kolchinsky, Manager of RA Capital Nexus Fund II GP, LLC the General Partner of RA Capital Nexus Fund II, L.P.</signatureName>
        <signatureDate>2021-08-11</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Peter Kolchinsky, individually</signatureName>
        <signatureDate>2021-08-11</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Rajeev Shah, individually</signatureName>
        <signatureDate>2021-08-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
