<SEC-DOCUMENT>0000950170-24-087061.txt : 20240726
<SEC-HEADER>0000950170-24-087061.hdr.sgml : 20240726
<ACCEPTANCE-DATETIME>20240726212220
ACCESSION NUMBER:		0000950170-24-087061
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240725
FILED AS OF DATE:		20240726
DATE AS OF CHANGE:		20240726

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Novo Holdings A/S
		CENTRAL INDEX KEY:			0001388325
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			G7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41008
		FILM NUMBER:		241148594

	BUSINESS ADDRESS:	
		STREET 1:		TUBORG HAVNEVEJ 19
		CITY:			HELLERUP
		STATE:			G7
		ZIP:			2900
		BUSINESS PHONE:		45 8824 8824

	MAIL ADDRESS:	
		STREET 1:		TUBORG HAVNEVEJ 19
		CITY:			HELLERUP
		STATE:			G7
		ZIP:			2900

	FORMER NAME:	
		FORMER CONFORMED NAME:	Novo A/S
		DATE OF NAME CHANGE:	20070130

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IO Biotech, Inc.
		CENTRAL INDEX KEY:			0001865494
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		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>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-07-25</periodOfReport>

    <notSubjectToSection16>true</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001388325</rptOwnerCik>
            <rptOwnerName>Novo Holdings A/S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TUBORG HAVNEVEJ 19</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HELLERUP</rptOwnerCity>
            <rptOwnerState>G7</rptOwnerState>
            <rptOwnerZipCode>2900</rptOwnerZipCode>
            <rptOwnerStateDescription>DENMARK</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK</value>
            </securityTitle>
            <transactionDate>
                <value>2024-07-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>51522</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.3264</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4377927</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK</value>
            </securityTitle>
            <transactionDate>
                <value>2024-07-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>23478</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.3113</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4354449</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.29 to $1.39, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
        <footnote id="F2">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.28 to $1.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Barbara Fiorini Due, General Counsel, Finance &amp; Operations</signatureName>
        <signatureDate>2024-07-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
