# EDGAR Filing Document

**Accession Number:** 0001055951
**File Stem:** 0000947871-25-000678
**Filing Date:** 2025-7
**Character Count:** 19038
**Document Hash:** 5b52b2638b7869ed15db2f3c9df73a54
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000947871-25-000678.hdr.sgml**: 20250721

**ACCESSION NUMBER**: 0000947871-25-000678

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250721

**DATE AS OF CHANGE**: 20250721

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Passage BIO, Inc.
- **CENTRAL INDEX KEY:** 0001787297
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 822729751
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91451
- **FILM NUMBER:** 251138150

**BUSINESS ADDRESS:**
- **STREET 1:** ONE COMMERCE SQUARE
- **STREET 2:** 2005 MARKET STREET, 39TH FLOOR
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103
- **BUSINESS PHONE:** 2678660312

**MAIL ADDRESS:**
- **STREET 1:** ONE COMMERCE SQUARE
- **STREET 2:** 2005 MARKET STREET, 39TH FLOOR
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ORBIMED ADVISORS LLC
- **CENTRAL INDEX KEY:** 0001055951

**ORGANIZATION NAME:**
- **EIN:** 133976876
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 601 LEXINGTON AVENUE
- **STREET 2:** 54TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 739-6400

**MAIL ADDRESS:**
- **STREET 1:** 601 LEXINGTON AVENUE
- **STREET 2:** 54TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

## Exhibit 99.1

**<u>Exhibit 1</u>**

JOINT FILING AGREEMENT

The undersigned hereby agree that Amendment No. 8 to the Statement on Schedule 13D, dated July 17, 2025, with respect to the common stock of Passage BIO, Inc. is filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. Each of the undersigned agrees to be responsible for the timely filing of this Amendment No. 8, and for the completeness and accuracy of the information concerning itself contained therein. This Joint Filing Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the undersigned have executed this Joint Filing Agreement as of the 21<sup>st</sup> day of July 2025.

---

| | |
|:---|:---|
| **ORBIMED ADVISORS LLC** | **ORBIMED ADVISORS LLC** |
| By: | <u>/s/ Carl L. Gordon</u> |
|  | Name: Carl L. Gordon |
|  | Title: Member |
| **ORBIMED CAPITAL GP VII LLC** | **ORBIMED CAPITAL GP VII LLC** |
| By: | ORBIMED ADVISORS LLC, its managing member |
| By: | <u>/s/ Carl L. Gordon</u> |
|  | Name: Carl L. Gordon |
|  | Title: Member of OrbiMed Advisors LLC<br>|

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 8)**

**Passage BIO, Inc.**

*(Name of Issuer)*

**COMMON STOCK**

*(Title of Class of Securities)*

**702712100**

*(CUSIP Number)*

**OrbiMed Advisors LLC**<br>601 Lexington Avenue<br>54th Floor<br>New York NY 10022<br>2127396400

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**07/17/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **702712100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ORBIMED ADVISORS LLC** | Name of reporting person<br>**ORBIMED ADVISORS LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**243878.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**243878.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**243878.00** | Aggregate amount beneficially owned by each reporting person<br>**243878.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.82%** | Percent of class represented by amount in Row (11)<br>**7.82%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **702712100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ORBIMED CAPITAL GP VII LLC** | Name of reporting person<br>**ORBIMED CAPITAL GP VII LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**243878.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**243878.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**243878.00** | Aggregate amount beneficially owned by each reporting person<br>**243878.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.82%** | Percent of class represented by amount in Row (11)<br>**7.82%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
COMMON STOCK

**(b) Name of Issuer:**
Passage BIO, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
One Commerce Square, 2005 Market Street, 39th Floor, Philadelphia, PA, 19103

This Amendment No. 8 ("Amendment No. 8") to Schedule 13D supplements and amends the Statement on Schedule 13D of OrbiMed Advisors LLC ("OrbiMed Advisors") and OrbiMed Capital GP VII LLC ("OrbiMed GP") (collectively, the "Reporting Persons") originally filed with the Securities and Exchange Commission (the "SEC") on March 9, 2020 with OrbiMed Capital LLC as an additional reporting person, as amended by Amendment No. 1 filed with the SEC on January 28, 2021, Amendment No. 2 filed with the SEC on May 5, 2022, Amendment No. 3 filed with the SEC on June 29, 2023, Amendment No. 4 filed with the SEC on April 12, 2024, Amendment No. 5 filed with the SEC on December 26, 2024, Amendment No. 6 filed with the SEC on April 25, 2025, and Amendment No. 7 filed with the SEC on July 9, 2025. This Amendment No. 8 is being filed to report that the beneficial ownership of the outstanding Shares held by the Reporting Persons decreased by more than 1% as a result of the transactions described in Item 5(c) below. On June 26, 2025, the Issuer's Board of Directors approved a 1-for-20 reverse stock split (the "Reverse Stock Split"), which was effective on July 14, 2025. All Shares reported in this Amendment No. 8 are presented on an after-Reverse Stock Split basis.

**Item 4. Purpose of Transaction**

The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Issuer's Shares in particular, as well as other developments and other investment opportunities. Based upon such review, the Reporting Persons will take such actions in the future as the Reporting Persons may deem appropriate in light of the circumstances existing from time to time. If the Reporting Persons believe that further investment in the Issuer is attractive, whether because of the market price of Shares or otherwise, they may acquire Shares or other securities of the Issuer either in the open market or in privately negotiated transactions. Similarly, depending on market and other factors, the Reporting Persons may determine to dispose of some or all of the Shares currently owned by the Reporting Persons or otherwise acquired by the Reporting Persons either in the open market or in privately negotiated transactions.

Except as set forth in this Schedule 13D, the Reporting Persons have not formulated any plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer or the disposition of securities of the Issuer, (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries, (c) a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries, (d) any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board, (e) any material change in the Issuer's capitalization or dividend policy of the Issuer, (f) any other material change in the Issuer's business or corporate structure, (g) any change in the Issuer's charter or bylaws or other instrument corresponding thereto or other action which may impede the acquisition of control of the Issuer by any person, (h) causing a class of the Issuer's securities to be deregistered or delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association, (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act or (j) any action similar to any of those enumerated above.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The following disclosure is based upon 3,120,295 outstanding Shares of the Issuer, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on July 14, 2025.

As of the date of this filing, OrbiMed Private Investments VII, LP ("OPI VII"), a limited partnership organized under the laws of Delaware, holds 243,878 Shares constituting approximately 7.82% of the issued and outstanding Shares. OrbiMed GP is the general partner of OPI VII, pursuant to the terms of the limited partnership agreement of OPI VII, and OrbiMed Advisors is the managing member of OrbiMed GP, pursuant to the terms of the limited liability company agreement of OrbiMed GP. As a result, OrbiMed Advisors and OrbiMed GP share power to direct the vote and disposition of the Shares held by OPI VII and may be deemed directly or indirectly, including by reason of their mutual affiliation, to be the beneficial owners of the Shares held by OPI VII. 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 of the Shares held by OPI VII.

**(b)**
Item 5(a) is incorporated by reference herein.

**(c)**
On June 24, 2025, OPI VII sold 11,580 Shares at a price of $0.35 per Share.
On June 25, 2025, OPI VII sold 6,940 Shares at a price of $0.33 per Share.
On June 26, 2025, OPI VII sold 10,662.85 Shares at a price of $0.33 per Share.
On June 27, 2025, OPI VII sold 552.15 Shares at a price of $0.34 per Share.
On July 7, 2025, OPI VII sold 1,198 Shares at a price of $0.48 per Share.
On July 8, 2025, OPI VII sold 2,535 Shares at a price of $0.43 per Share.
On July 9, 2025, OPI VII sold 2,855.30 Shares at a price of $0.44 per Share.
On July 10, 2025, OPI VII sold 6,361.70 Shares at a price of $0.40 per Share.
On July 15, 2025, OPI VII sold 3,700 Shares at a price of $6.77 per Share.
On July 16, 2025, OPI VII sold 20,048 Shares at a price of $5.86 per Share.
On July 17, 2025, OPI VII sold 22,188 Shares at a price of $5.83 per Share.

The Reporting Persons undertake, upon request by the staff of the SEC or the Issuer to provide full information regarding the number of Shares sold at each separate price.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

In addition to the relationships between the Reporting Persons described in Items 2 and 5 above, OrbiMed GP is the general partner of OPI VII, pursuant to the terms of the limited partnership agreement of OPI VII. Pursuant to this agreement and relationship, OrbiMed GP has discretionary investment management authority with respect to the assets of OPI VII. Such authority includes the power to vote and otherwise dispose of securities held by OPI VII. The number of outstanding Shares attributable to OPI VII is 243,878 Shares. OrbiMed GP, pursuant to its authority under the limited partnership agreement of OPI VII, may be considered to hold indirectly 243,878 Shares.

In addition to the relationships between the Reporting Persons described in Items 2 and 5 above, OrbiMed Advisors is the managing member of OrbiMed GP, pursuant to the terms of the limited liability company agreement of OrbiMed GP. Pursuant to these agreements and relationships, OrbiMed Advisors and OrbiMed GP have discretionary investment management authority with respect to the assets of OPI VII. Such authority includes the power of OrbiMed GP to vote and otherwise dispose of securities held by OPI VII. The number of outstanding Shares attributable to OPI VII is 243,878 Shares. OrbiMed Advisors, pursuant to its authority under the terms of the limited liability company agreement of OrbiMed GP, may also be considered to hold indirectly 243,878 Shares.

Investors' Rights Agreement
In addition, OPI VII, the Worldwide Healthcare Trust PLC, and certain other stockholders of the Issuer entered into an amended and restated investors' rights agreement with the Issuer (the "Investors' Rights Agreement"), dated as of August 21, 2019. Pursuant to the Investors' Rights Agreement and subject to the terms and conditions therein, the parties agreed that:

Registration Rights
Following the closing of the Issuer's initial public offering (the "IPO"), the holders of a certain number of Shares, or their transferees, will be entitled to the registration rights set forth below with respect to registration of the resale of such Shares under the Securities Act of 1933, as amended (the "Securities Act") pursuant to the Investors' Rights Agreement.

Demand Registration Rights

At any time beginning six months following the date of the underwriting agreement of the IPO, the holders of at least thirty percent (30%) of the registrable securities then outstanding of the Issuer may make a written request that the Issuer register at least thirty percent (30%) of the registrable securities then outstanding, subject to certain specified conditions and exceptions. The Issuer is required to use commercially reasonable efforts to effect the registration and will pay all registration expenses, other than underwriting discounts and commissions, related to any demand registration. The Issuer is not obligated to effect more than two of these registrations.

Piggyback Registration Rights

Whenever the Issuer proposes to file a registration statement under the Securities Act, including a registration statement on Form S-3 as discussed below, other than with respect to certain excluded registrations, the Reporting Persons will be entitled to notice of the registration and have the right, subject to limitations that the underwriters may impose on the number of Shares included in the registration, to include Shares held by the Reporting Persons in the registration.

Form S-3 Registration Rights

At any time after the Issuer is qualified to file a registration statement on Form S-3 under the Securities Act, and subject to limitations and conditions specified in the Investors' Rights Agreement, holders of at least twenty-five percent (25%) of the Registrable Securities (as defined in the Investors' Rights Agreement) then outstanding may make a written request that the Issuer prepare and file a registration statement on Form S-3 covering their Shares, so long as the aggregate price to the public equals or exceeds $3,000,000. The Issuer is not obligated to effect more than two of these Form S-3 registrations in any 12-month period.

The foregoing description of the Investors' Rights Agreement does not purport to be complete and is qualified in its entirety by reference to the full texts of the Investors' Rights Agreement, which is filed as Exhibit 2 and incorporated herein by reference.

### 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.

**Reporting Person:** ORBIMED ADVISORS LLC

**Signature:** /s/ Carl L. Gordon

**Name/Title:** Carl L. Gordon/Member

**Date:** 07/21/2025

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.

**Reporting Person:** ORBIMED CAPITAL GP VII LLC

**Signature:** /s/ Carl L. Gordon

**Name/Title:** Carl L. Gordon/Member of OrbiMed Advisors LLC

**Date:** 07/21/2025