Northpond Ventures III GP, LLC - Feb 12, 2024 Form 4 Insider Report for Kyverna Therapeutics, Inc. (KYTX)

Role: Former 10% Owner
Signature: Northpond Ventures III GP, LLC, By: /s/ Patrick Smerkers, Chief Financial Officer
Stock symbol: KYTX
Transactions as of: Feb 12, 2024
Transactions value $: $9,900,000
Form type: 4
Date filed: 2/12/2024, 05:51 PM
Previous filing: Feb 7, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KYTX	Common Stock	Conversion of derivative security		+2.81M			2.81M	Feb 12, 2024	By: Northpond Ventures III, LP	F1, F2
transaction	KYTX	Common Stock	Purchase	$9.9M	+450K		$22.00^*	450K	Feb 12, 2024	By: Northpond Ventures, LP	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	KYTX	Series B Preferred Stock	Conversion of derivative security		-12.8M	-100%		0	Feb 12, 2024	Common Stock	2.81M		By: Northpond Ventures III, LP	F1, F2

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

Northpond Ventures III GP, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Immediately prior to the closing of the initial public offering of Kyverna Therapeutics, Inc. (the "Issuer"), each share of Series B Convertible Preferred Stock, par value $0.00001 per share (the "Series B Preferred Stock"), of the Issuer automatically converted on a 4.5511-for-1 basis into shares of the Issuer's common stock, par value $0.00001 per share (the "Common Stock"). The Series B Preferred Stock had no expiration date.
F2	Northpond Ventures III GP, LLC ("Northpond III LLC") is the general partner of Northpond Ventures III, LP ("Northpond Fund III"), and Michael P. Rubin is the managing member of Northpond III LLC. As a result, each of Northpond III LLC and Mr. Rubin may be deemed to share beneficial ownership with respect to the shares held of record by Northpond Fund III. Each of Northpond III LLC and Mr. Rubin disclaim beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein, if any.
F3	Northpond Ventures GP, LLC ("Northpond LLC") is the general partner of Northpond Ventures, LP ("Northpond Fund"), and Michael P. Rubin is the managing member of Northpond LLC. As a result, Mr. Rubin may be deemed to share beneficial ownership with respect to the shares held of record by Northpond Fund. Mr. Rubin disclaims beneficial ownership of the securities reported herein, except to the extent of his pecuniary interest therein, if any.