ORBIMED ADVISORS LLC - 24 Jun 2025 Form 4 Insider Report for Passage BIO, Inc. (PASG)

Role: 10%+ Owner
Signature: /s/ Carl L. Gordon, Member of OrbiMed Advisors LLC
Issuer symbol: PASG
Transactions as of: 24 Jun 2025
Net transactions value: -$197,239
Form type: 4
Filing time: 26 Jun 2025, 17:10:11 UTC
Previous filing: 16 May 2025
Next filing: 01 Jul 2025
SEC: View on sec.gov

Reporting Owners (2)

Name	Relationship	Address	Signature	Signature date	CIK
ORBIMED ADVISORS LLC	10%+ Owner	601 LEXINGTON AVENUE, 54TH FLOOR, NEW YORK	/s/ Carl L. Gordon, Member of OrbiMed Advisors LLC	26 Jun 2025	0001055951
OrbiMed Capital GP VII LLC	10%+ Owner	601 LEXINGTON AVENUE, 54TH FLOOR, NEW YORK	/s/ Carl L. Gordon, Member of OrbiMed Capital GP VII LLC	26 Jun 2025	0001760648

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PASG	Common Stock	Sale	$81,060	-231,600	-3.5%	$0.3500	6,418,400	24 Jun 2025	See footnotes	F1, F2
transaction	PASG	Common Stock	Sale	$45,804	-138,800	-2.2%	$0.3300	6,279,600	25 Jun 2025	See footnotes	F1, F2
transaction	PASG	Common Stock	Sale	$70,375	-213,257	-3.4%	$0.3300	6,066,343	26 Jun 2025	See footnotes	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

ORBIMED ADVISORS LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	These shares of the Issuer's common stock are held of record by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII, and OrbiMed Advisors LLC ("OrbiMed Advisors"), a registered investment adviser under the Investment Advisors Act of 1940, as amended, is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting and investment power over the shares of common stock held by OPI VII and, as a result, may be deemed to have beneficial ownership over such shares of common stock. OrbiMed Advisors exercises this investment and voting power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership over the shares of common stock held by OPI VII.
F2	Each of OrbiMed Advisors and GP VII disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any such entity is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

Content

These shares of the Issuer's common stock are held of record by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII, and OrbiMed Advisors LLC ("OrbiMed Advisors"), a registered investment adviser under the Investment Advisors Act of 1940, as amended, is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting and investment power over the shares of common stock held by OPI VII and, as a result, may be deemed to have beneficial ownership over such shares of common stock. OrbiMed Advisors exercises this investment and voting power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership over the shares of common stock held by OPI VII.

Each of OrbiMed Advisors and GP VII disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any such entity is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.