SC 13G

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.     )*

 

 

Kala Pharmaceuticals Inc.

(Name of Issuer)

COMMON STOCK, $0.001 PAR VALUE PER SHARE

(Title of Class of Securities)

483119103

(CUSIP Number)

December 31, 2017

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 483119103    SCHEDULE 13G    Page 2 of 12 Pages

 

  1.   

NAMES OF REPORTING PERSONS

 

Third Rock Ventures, L.P.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5.    

SOLE VOTING POWER

 

   6.   

SHARED VOTING POWER

 

1,654,425 (1)

   7.   

SOLE DISPOSITIVE POWER

 

0

   8.   

SHARED DISPOSITIVE POWER

 

1,654,425 (1)

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,654,425 (1)

10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

6.7% (2)

12.  

TYPE OF REPORTING PERSON

 

PN

 

(1) This number includes a warrant to purchase 33,333 shares of common stock exercisable within 60 days of December 31, 2017.
(2) The percent of class was calculated based on 24,521,131 shares of common stock issued and outstanding as of October 31, 2017, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2017.


CUSIP No. 483119103    SCHEDULE 13G    Page 3 of 12 Pages

 

  1.   

NAMES OF REPORTING PERSONS

 

Third Rock Ventures GP, L.P.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5.    

SOLE VOTING POWER

 

0

   6.   

SHARED VOTING POWER

 

1,654,425 (1)

   7.   

SOLE DISPOSITIVE POWER

 

0

   8.   

SHARED DISPOSITIVE POWER

 

1,654,425 (1)

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,654,425 (1)

10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

6.7% (2)

12.  

TYPE OF REPORTING PERSON

 

PN


CUSIP No. 483119103    SCHEDULE 13G    Page 4 of 12 Pages

 

  1.   

NAMES OF REPORTING PERSONS

 

TRV GP, LLC

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5.    

SOLE VOTING POWER

 

0

   6.   

SHARED VOTING POWER

 

1,654,425 (1)

   7.   

SOLE DISPOSITIVE POWER

 

0

   8.   

SHARED DISPOSITIVE POWER

 

1,654,425 (1)

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,654,425 (1)

10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

6.7% (2)

12.  

TYPE OF REPORTING PERSON

 

OO


CUSIP No. 483119103    SCHEDULE 13G    Page 5 of 12 Pages

 

  1.   

NAMES OF REPORTING PERSONS

 

Mark Levin

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5.    

SOLE VOTING POWER

 

0

   6.   

SHARED VOTING POWER

 

1,654,425 (1)

   7.   

SOLE DISPOSITIVE POWER

 

0

   8.   

SHARED DISPOSITIVE POWER

 

1,654,425 (1)

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,654,425 (1)

10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

6.7% (2)

12.  

TYPE OF REPORTING PERSON

 

IN


CUSIP No. 483119103    SCHEDULE 13G    Page 6 of 12 Pages

 

  1.   

NAMES OF REPORTING PERSONS

 

Kevin P. Starr

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5.    

SOLE VOTING POWER

 

0

   6.   

SHARED VOTING POWER

 

1,654,425 (1)

   7.   

SOLE DISPOSITIVE POWER

 

0

   8.   

SHARED DISPOSITIVE POWER

 

1,654,425 (1)

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,654,425 (1)

10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

6.7% (2)

12.  

TYPE OF REPORTING PERSON

 

IN


CUSIP No. 483119103    SCHEDULE 13G    Page 7 of 12 Pages

 

  1.   

NAMES OF REPORTING PERSONS

 

Robert I. Tepper

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☒

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

   5.    

SOLE VOTING POWER

 

7,560 (3)

   6.   

SHARED VOTING POWER

 

1,654,425 (1)

   7.   

SOLE DISPOSITIVE POWER

 

7,560 (3)

   8.   

SHARED DISPOSITIVE POWER

 

1,654,425 (1)

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

1,661,985 (1) (3)

10.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

6.8% (2)

12.  

TYPE OF REPORTING PERSON

 

IN

 

(3) This number includes options to purchase 7,560 shares of common stock exercisable within 60 days of December 31, 2017.


CUSIP No. 483119103    SCHEDULE 13G    Page 8 of 12 Pages
Item 1.       Issuer
   (a)    Name of Issuer:
      Kala Pharmaceuticals Inc. (the “Issuer”)
   (b)    Address of Issuer’s Principal Executive Offices:
     

100 Beaver Street, Suite 201

Waltham, MA 02453

Item 2.       Filing Person
   (a) – (c)    Name of Persons Filing; Address; Citizenship:
        

(i)

   Third Rock Ventures, L.P. (“TRV”);
         (ii)    Third Rock Ventures GP, L.P. (“TRV GP”), which is the sole general partner of TRV;
         (iii)    TRV GP, LLC (“TRV GP LLC”), which is the sole general partner of TRV GP;
         (iv)    Mark Levin (“Levin”), a managing member of TRV GP LLC;
         (v)    Kevin P. Starr (“Starr”), a managing member of TRV GP LLC; and
         (vi)    Robert I. Tepper (“Tepper,” and collectively with TRV, TRV GP, TRV GP LLC, Levin and Starr, the “Reporting Persons”), a managing member of TRV GP LLC.
     

The address of the principal business office of each of the Reporting Persons is Third Rock Ventures, LLC, 29 Newbury Street, 3rd Floor, Boston, MA 02116.

 

Each of TRV and TRV GP is a Delaware limited partnership. TRV GP LLC is a Delaware limited liability company. Levin, Tepper, and Starr are United States citizens.

   (d)    Title of Class of Securities:
      Common stock, $0.001 par value per share, (the “Common Stock”)
   (e)   

CUSIP Number:

 

483119103

Item 3.       If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
   (a)          Broker or dealer registered under Section 15 of the Act;
   (b)          Bank as defined in Section 3(a)(6) of the Act;
   (c)          Insurance company as defined in Section 3(a)(19) of the Act;
   (d)          Investment company registered under Section 8 of the Investment Company Act of 1940;
   (e)          An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
   (f)          An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
   (g)          A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
   (h)          A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
   (i)          A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940;
   (j)          A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J);
   (k)          Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution:                 


CUSIP No. 483119103    SCHEDULE 13G    Page 9 of 12 Pages

 

     

If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:                 

 

Item 4. Ownership.

(a) and (b) Amount beneficially owned:

 

  (i) TRV directly owns 1,621,092 shares of Common Stock and 33,333 shares of Common Stock issuable upon the exercise of outstanding warrants within 60 days of December 31, 2017 (collectively, the “Shares”), which represents approximately 6.7% of the outstanding shares of Common Stock.

 

  (ii) TRV GP is the general partner of TRV and may be deemed to beneficially own the Shares.

 

  (iii) TRV GP LLC is the general partner of TRV GP and may be deemed to beneficially own the Shares.

 

  (iv) As a managing member of TRV GP LLC, Levin may be deemed to beneficially own the Shares.

 

  (v) As a managing member of TRV GP LLC, Tepper may be deemed to beneficially own the Shares. Additionally, as of December 31, 2017, Tepper directly owns 7,560 shares of Common Stock issuable upon the exercise of outstanding options within 60 days of December 31, 2017. As a result, Tepper may be deemed to beneficially own an aggregate of 1,661,985 shares of Common Stock, which represents approximately 6.8% of the outstanding shares of Common Stock.

 

  (vi) As a managing member of TRV GP LLC, Starr may be deemed to beneficially own the Shares.

 

  (c) Number of shares as to which such person has:
     

 

     Number of Shares of Common Stock  

Reporting Person

   (i)      (ii)      (iii)      (iv)  

TRV

     0        1,654,425        0        1,654,425  

TRV GP

     0        1,654,425        0        1,654,425  

TRV GP LLC

     0        1,654,425        0        1,654,425  

Levin

     0        1,654,425        0        1,654,425  

Starr

     0        1,654,425        0        1,654,425  

Tepper

     7,560        1,654,425        7,560        1,654,425  

 

(i) Sole power to vote or direct the vote
(ii) Shared power to vote or to direct the vote
(iii) Sole power to dispose or to direct the disposition of
(iv) Shared power to dispose or to direct the disposition of

The percent of class was calculated based on 24,521,131 shares of common stock issued and outstanding as of October 31, 2017, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2017.

 

Item 5. Ownership of Five Percent or Less of a Class.

Not applicable.


CUSIP No. 483119103    SCHEDULE 13G    Page 10 of 12 Pages

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

 

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not applicable.

 

Item 8. Identification and Classification of Members of the Group.

Not applicable.

 

Item 9. Notice of Dissolution of Group.

Not applicable.

 

Item 10. Certification.

Not applicable.


CUSIP No. 483119103    SCHEDULE 13G    Page 11 of 12 Pages

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 13, 2018

 

THIRD ROCK VENTURES, L.P.
By: THIRD ROCK VENTURES GP, L.P.,
General Partner
By: TRV GP, LLC,                                                     
General Partner
By: /s/ Kevin Gillis                                                     
Kevin Gillis
Chief Financial Officer
THIRD ROCK VENTURES GP, L.P.
By: TRV GP, LLC,
General Partner
By: /s/ Kevin Gillis                                                     
Kevin Gillis
Chief Financial Officer
TRV GP, LLC
By: /s/ Kevin Gillis                                                     
Kevin Gillis
Chief Financial Officer
MARK LEVIN
/s/ Kevin Gillis, As attorney-in-fact                            
Mark Levin
KEVIN P. STARR
/s/ Kevin Gillis, As attorney-in-fact                            
Kevin P. Starr


CUSIP No. 483119103    SCHEDULE 13G    Page 12 of 12 Pages

 

ROBERT I. TEPPER
/s/ Kevin Gillis, As attorney-in-fact                            
Robert I. Tepper


EXHIBIT 24

POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes and appoints Kevin Gillis his true and lawful attorney-in-fact, with full power of substitution, to sign any and all instruments, certificates and documents that may be necessary, desirable or appropriate to be executed on behalf of himself as an individual or in his capacity as a direct or indirect general partner, director, officer, member or manager of any partnership, corporation or limited liability company, pursuant to section 13 or 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any and all regulations promulgated thereunder, and to file the same, with all exhibits thereto, and any other documents in connection therewith, with the Securities and Exchange Commission, and with any other entity when and if such is mandated by the Exchange Act or by the Financial Industry Regulatory Authority, granting unto said attorney-in-fact full power and authority to do and perform each and every act and thing necessary, desirable or appropriate, fully to all intents and purposes as he might or could do in person, thereby ratifying and confirming all that said attorney-in-fact, or his substitutes, may lawfully do or cause to be done by virtue hereof.    Each of the undersigned may execute this power of attorney in separate counterparts, and each counterpart shall be deemed to be an original instrument. This agreement shall be effective as to each of the undersigned as of the date signed by that signatory.

IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 16th day of January, 2014.

 

/s/ Mark Levin

Mark Levin

/s/ Kevin P. Starr

Kevin P. Starr

/s/ Robert I. Tepper

Robert I. Tepper


EXHIBIT 99.1

Joint Filing Agreement

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him, her or it contained herein, but shall not be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that he, she or it knows or has reason to believe that such information is inaccurate.

Dated: February 13, 2018

 

THIRD ROCK VENTURES, L.P.
By: THIRD ROCK VENTURES GP, L.P.,
General Partner
By: TRV GP, LLC,
General Partner
By: /s/ Kevin Gillis                                                 
Kevin Gillis
Chief Financial Officer
THIRD ROCK VENTURES GP, L.P.
By: TRV GP, LLC,
General Partner
By: /s/ Kevin Gillis                                                 
Kevin Gillis
Chief Financial Officer
TRV GP, LLC
By: /s/ Kevin Gillis                                                     
Kevin Gillis
Chief Financial Officer
MARK LEVIN
/s/ Kevin Gillis, As attorney-in-fact                            
Mark Levin


KEVIN P. STARR
/s/ Kevin Gillis, As attorney-in-fact                            
Kevin P. Starr
ROBERT I. TEPPER
/s/ Kevin Gillis, As attorney-in-fact                            
Robert I. Tepper