<SEC-DOCUMENT>0001193125-20-217150.txt : 20200918
<SEC-HEADER>0001193125-20-217150.hdr.sgml : 20200918
<ACCEPTANCE-DATETIME>20200812093158
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-20-217150
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200812

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			resTORbio, Inc.
		CENTRAL INDEX KEY:			0001720580
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				813305277
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		500 BOYLSTON STREET
		STREET 2:		12TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617-482-2333

	MAIL ADDRESS:	
		STREET 1:		500 BOYLSTON STREET
		STREET 2:		12TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	resTORbio, Inc.
		DATE OF NAME CHANGE:	20171024
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="78%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt;margin-bottom:1pt">


<IMG SRC="g923175g26y38.jpg" ALT="LOGO">
</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Goodwin Procter <SMALL>LLP</SMALL></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 Northern
Avenue</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Boston, MA 02210</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">goodwinlaw.com</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">+1 617 570 1000</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">August 12, 2020 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of
Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%" VALIGN="top" ALIGN="left">Attention:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Christopher Edwards </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Dorrie Yale </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Michael Fay </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Jeanne Baker </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>&nbsp;resTORbio,&nbsp;Inc. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>Amendment No.&nbsp;1 to </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>Registration Statement <FONT STYLE="white-space:nowrap">Form&nbsp;S-4</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>Filed July&nbsp;29, 2020 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;333-239372</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of our client,
resTORbio,&nbsp;Inc. (the &#147;<B>Company</B>&#148;), we are responding to the comments from the Staff (the &#147;<B>Staff</B>&#148;) of the Securities and Exchange Commission (the &#147;<B>Commission</B>&#148;) relating to the Company&#146;s
Amendment No.&nbsp;1 to the Registration Statement on <FONT STYLE="white-space:nowrap">Form&nbsp;S-4</FONT> (the &#147;<B>Amendment No.</B><B></B><B>&nbsp;1</B> <B>Form <FONT STYLE="white-space:nowrap">S-4</FONT></B>&#148;) contained in the
Staff&#146;s letter dated August&nbsp;6, 2020 (the &#147;<B>Comment Letter</B>&#148;).&nbsp;In response to the comments set forth in the Comment Letter, the Company has revised the Amendment No.&nbsp;1 Form
<FONT STYLE="white-space:nowrap">S-4</FONT> and is submitting an Amendment No.&nbsp;2 (the &#147;<B>Amendment No.</B><B></B><B>&nbsp;2 Form <FONT STYLE="white-space:nowrap">S-4</FONT></B>&#148;) together with this response letter.&nbsp;The Amendment
No.&nbsp;2 Form <FONT STYLE="white-space:nowrap">S-4</FONT> also contains certain additional updates and revisions.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Set forth below are
the Company&#146;s responses to the Staff&#146;s comments in the Comment Letter.&nbsp;For convenience, the Staff&#146;s comments are repeated below in italics, followed by the Company&#146;s response to the comments as well as a summary of the
responsive actions taken.&nbsp;We have included page&nbsp;numbers to refer to the location in the Amendment No.&nbsp;2 Form <FONT STYLE="white-space:nowrap">S-4</FONT> submitted herewith where the revised language addressing a particular comment
appears.&nbsp;Capitalized terms used but not defined herein are used herein as defined in the Amendment No.&nbsp;2 Form <FONT STYLE="white-space:nowrap">S-4.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The responses provided herein are based upon information provided to Goodwin Procter LLP. In addition to submitting this letter via EDGAR, we
are sending via email a copy of each of this letter and the Amendment No.&nbsp;2 Form <FONT STYLE="white-space:nowrap">S-4</FONT> (marked to show changes from the Amendment No.&nbsp;1 Form <FONT STYLE="white-space:nowrap">S-4).</FONT> </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g923175g26y38.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Amendment No.&nbsp;1 to Form <FONT STYLE="white-space:nowrap">S-4,</FONT> filed July&nbsp;29, 2020
</U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>The Merger </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Background of the Merger, page
160 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>1.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your revised disclosures in response to prior comment 11. Please revise to clarify any negotiations
that resulted in the April&nbsp;15 counterproposal, which required that there be positive trial results by the end of September 2020 and a commercialization agreement within the following nine months, being developed into the final agreement.
</I></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>RESPONSE:</B> The Company respectfully advises the Staff that it has revised the disclosure on pages 173-74 of
the Amendment No.&nbsp;2 Form <FONT STYLE="white-space:nowrap">S-4</FONT> in response to the Staff&#146;s comment. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>resTORbio Business </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>resTORbio&#146;s Product Pipeline, page 254 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>2.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your response to prior comment 17. Please shorten the arrow in the pipeline table for RTB101 in <FONT
STYLE="white-space:nowrap">COVID-19</FONT> to reflect that you have only recently initiated Phase 2 for that indication. </I></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>RESPONSE:</B> The Company respectfully advises the Staff that it has revised the pipeline chart on page 254 of the Amendment No.&nbsp;2 Form
<FONT STYLE="white-space:nowrap">S-4</FONT> in response to the Staff&#146;s comment. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Adicet Intellectual Property, page 310 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>3.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your revised disclosure that Adicet has patents with upcoming expiration dates beginning as soon as
2021. Please discuss whether you expect the expiration of these patents to have a material effect on Adicet&#146;s business, including any impact on future operations and the financial position of the company. Please also specify the expiration
dates for the Regeneron patents to clarify your disclosure on page 312 regarding the duration of the royalty term under the Regeneron agreement. </I></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>RESPONSE:</B> The Company respectfully advises the Staff that it has revised the disclosure on page 310 of the Amendment No.&nbsp;2 Form <FONT
STYLE="white-space:nowrap">S-4</FONT> in response to the Staff&#146;s comment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s portion of the comment
related to the disclosure of when the Regeneron patents underlying the royalty terms of the Regeneron agreement are expected to expire, the Company respectfully advises the Staff that, as the Regeneron agreement involves a multi-year collaboration
across multiple current and prospective product candidates, intellectual property that is or may become licensed under the Regeneron agreement involves numerous patent families that are in various stages of prosecution in numerous countries and is
still evolving and under development, and that Adicet Bio, Inc. (&#147;Adicet&#148;) expects that Adicet and Regeneron will continue to file patents and patent applications that will be subject to the Regeneron agreement. Given that such
intellectual property rights are expected to continue to evolve and develop, the Company believes that disclosure regarding expiration of patent rights would not accurately reflect the anticipated royalty terms, would not materially enhance an
investor&#146;s understanding of the Regeneron agreement and may be potentially misleading. Furthermore, the Company believes that its disclosure of the &#147;specified number of years&#148; portion of the duration of royalty obligations, as
disclosed on pages 312, 346, 356, F2-23 and F3-13 of Amendment No. 2 to the Form&nbsp;S-4, will provide investors with more useful, current and accurate information about the royalty terms under the Regeneron agreement. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g923175g26y38.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 3 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Consolidated Financial Statements of resTORbio, Inc., page <FONT STYLE="white-space:nowrap">F-1</FONT>
</U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>4.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note that resTORbio filed its Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarterly period
ended June&nbsp;30, 2020. Please update the financial statements of resTORbio in this filing as required by Rule <FONT STYLE="white-space:nowrap">3-12(a)</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> In addition, update the
related pro forma financial statements. </I></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>RESPONSE:</B> The Company respectfully advises the Staff that it has
revised its Unaudited Interim Financial Statements beginning on page <FONT STYLE="white-space:nowrap">F-1</FONT> of the Amendment No.&nbsp;2 Form <FONT STYLE="white-space:nowrap">S-4.</FONT> The Company has also revised the Comparative Historical
and Unaudited Pro Forma Per Share Data and the Unaudited Pro Forma Condensed Combined Financial Information beginning on page 25 and page 394, respectively, of the Amendment No.&nbsp;2 Form <FONT STYLE="white-space:nowrap">S-4</FONT> in response to
the Staff&#146;s comment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Andrew H. Goodman</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Andrew H. Goodman</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Chen Schor, Chief Executive Officer, <I>resTORbio, Inc. </I> </P></TD></TR></TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g923175g26y38.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g923175g26y38.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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M#]#\7(+[WZ?TK^2*F&:\K'^A%:FY-.7O-;-GZ+?L@[)?!/B.3:"R^)G7=T(
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MKB]73K#Q2(K<75T4-Q,$^Q'YWV)G_=%-?D+\+'<^$_V%OB=\0O%-GXJ_:/\
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M/!YR<CM2LETV#]";Q3^SI\1]7_;1T'XW6=OI3>!K"ZT&6YFDU#9J*KIWA?\
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M*TLM-C\R2Y?\WJ_O>I+M [ 8X],8II<NVEA<J3OU0O3\/Z4QBT % !0 4 %
A!0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 ?__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
