<SEC-DOCUMENT>0001140361-23-039346.txt : 20230811
<SEC-HEADER>0001140361-23-039346.hdr.sgml : 20230811
<ACCEPTANCE-DATETIME>20230811212423
ACCESSION NUMBER:		0001140361-23-039346
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230809
FILED AS OF DATE:		20230811
DATE AS OF CHANGE:		20230811

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Elling Christian E
		CENTRAL INDEX KEY:			0001891306

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41008
		FILM NUMBER:		231165903

	MAIL ADDRESS:	
		STREET 1:		1209 ORANGE STREET
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19801

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IO Biotech, Inc.
		CENTRAL INDEX KEY:			0001865494
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				870909276
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		OLE MAALOES VEH 3
		CITY:			COPENHAGEN
		STATE:			G7
		ZIP:			2200
		BUSINESS PHONE:		4570702980

	MAIL ADDRESS:	
		STREET 1:		OLE MAALOES VEH 3
		CITY:			COPENHAGEN
		STATE:			G7
		ZIP:			2200
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-08-09</periodOfReport>

    <issuer>
        <issuerCik>0001865494</issuerCik>
        <issuerName>IO Biotech, Inc.</issuerName>
        <issuerTradingSymbol>IOBT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001891306</rptOwnerCik>
            <rptOwnerName>Elling Christian E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O IO BIOTECH, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>OLE MAALOES VEJ 3</rptOwnerStreet2>
            <rptOwnerCity>COPENHAGEN</rptOwnerCity>
            <rptOwnerState>G7</rptOwnerState>
            <rptOwnerZipCode>2200</rptOwnerZipCode>
            <rptOwnerStateDescription>DENMARK</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-08-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7901234</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.9</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13950686</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Lundbeckfond Invest A/S</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Warrants (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.47</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2023-08-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7901234</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.125</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2023-08-09</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7901234</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7901234</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Lundbeckfond Invest A/S</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The securities are held of record by Lundbeckfond Invest A/S. The Reporting Person is Managing Partner of Lundbeckfonden Emerge, a division of Lundbeckfond Invest A/S. The Reporting Person disclaims beneficial ownership of the securities held by Lundbeckfond Invest A/S except to the extent of his pecuniary interest therein, if any.</footnote>
        <footnote id="F2">These warrants expire at 5:00 p.m. Eastern time on the earlier of (i) February 9, 2027, and (ii) one day prior to the closing of an Acquisition (as such term is defined in the Form of Warrant, attached as Exhibit 4.1 to the Issuer's Current Report on Form 8-K, filed with the Securities and Exchange Commission on August 7, 2023).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Brian Burkavage, Attorney-in-Fact for Christian Elling</signatureName>
        <signatureDate>2023-08-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
