# EDGAR Filing Document

**Accession Number:** 0001768446
**File Stem:** 0001193125-23-061530
**Filing Date:** 2023-3
**Character Count:** 18752
**Document Hash:** f6028f9a7ffab2bdeefffbae5c18f861
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-061530.hdr.sgml**: 20230306

**ACCESSION NUMBER**: 0001193125-23-061530

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230306

**DATE AS OF CHANGE**: 20230306

**EFFECTIVENESS DATE**: 20230306

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eliem Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001768446
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 832273741
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270304
- **FILM NUMBER:** 23709695

**BUSINESS ADDRESS:**
- **STREET 1:** 23515 NE NOVELTY HILL ROAD
- **STREET 2:** SUITE B221 #125
- **CITY:** REDMOND
- **STATE:** WA
- **ZIP:** 98053
- **BUSINESS PHONE:** 425-276-2300

**MAIL ADDRESS:**
- **STREET 1:** 23515 NE NOVELTY HILL ROAD
- **STREET 2:** SUITE B221 #125
- **CITY:** REDMOND
- **STATE:** WA
- **ZIP:** 98053

**As filed with the U.S. Securities and Exchange Commission March 6, 2023** 

**Registration No. 333-** 

------

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

------

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

------

## Eliem Therapeutics, Inc.
**(Exact name of registrant as specified in its charter)** 

------

---

| | |
|:---|:---|
| **Delaware** | **83-2273741** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**23515 NE Novelty Hill Road, Suite B221 #125** 

**Redmond, WA 98053** 

**(425) 276-2300** 

**(Address of principal executive offices) (Zip code)** 

**Eliem Therapeutics, Inc. 2021 Equity Incentive Plan** 

**Eliem Therapeutics, Inc. 2021 Employee Stock Purchase Plan** 

**(Full title of the plan)** 

**Andrew Levin, M.D., Ph.D.** 

**Executive Chairman** 

**of the Board of Directors** 

**Eliem Therapeutics, Inc.** 

**23515 NE Novelty Hill Road, Suite B221 #125** 

**Redmond, WA 98053** 

**(425) 276-2300** 

**(Name and address of agent for service) (Telephone number, including area code, of agent for service)** 

------

***Copies to:***

---

| | |
|:---|:---|
| **Alan Hambelton**<br> **Julia Stark**<br> **Cooley LLP**<br> **1700 Seventh Avenue, Suite 1900**<br> **Seattle, Washington 98101**<br> **(206) 452-8756** | **James B. Bucher**<br> **Executive Vice President**<br> **and General Counsel**<br> **Eliem Therapeutics, Inc.**<br> **23515 NE Novelty Hill Road, Suite B221 #125**<br> **Redmond, WA 98053**<br> **(425) 276-2300** |

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☒ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

**EXPLANATORY NOTE** 

Eliem Therapeutics, Inc. (the "Registrant") is filing this Registration Statement on Form S-8 for the purpose of registering an additional (a) 1,328,384 shares of its common stock, par value $0.0001 per share (the "Common Stock"), issuable to eligible persons under the 2021 Equity Incentive Plan, which Common Stock is in addition to the shares of Common Stock registered on the Registrant's registration statements on Form S-8 filed on August 12, 2021 ([File No. 333-258771](http://www.sec.gov/Archives/edgar/data/1768446/000119312521244905/d180283ds8.htm)) and March 7, 2022 ([File No. 333-263347](http://www.sec.gov/Archives/edgar/data/1768446/000119312522068087/d323824ds8.htm)) (the "Prior Forms S-8"), and (b) 265,676 shares of Common Stock issuable to eligible persons under the 2021 Employee Stock Purchase Plan, which Common Stock is in addition to the shares of Common Stock registered on the Prior Forms S-8.

**PART II** 

**ITEM 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE** 

Pursuant to General Instruction E to Form S-8, the contents of the Prior Forms S-8 are incorporated by reference herein.

All other reports and documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (other than Current Reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such items) on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this Registration Statement from the date of the filing of such reports and documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

------

**ITEM 8. EXHIBITS** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
| **Exhibit<br>Number** | **Description** | **Schedule<br>Form** | **File<br>Number** | **Exhibit** | **Filing Date** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 | [Amended and Restated Certificate of Incorporation of the Registrant.](http://www.sec.gov/Archives/edgar/data/1768446/000119312521244913/d392719dex31.htm) | 8-K | 001-40708 | 3.1 | August 12, 2021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 | [Amended and Restated Bylaws of the Registrant.](http://www.sec.gov/Archives/edgar/data/1768446/000119312521232117/d105292dex34.htm) | S-1 | 333-257980 | 3.4 | August 2, 2021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 | [Form of common stock certificate of the Registrant](http://www.sec.gov/Archives/edgar/data/1768446/000119312521232117/d105292dex41.htm) | S-1 | 333-257980 | 4.1 | August 2, 2021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1\* | [Opinion of Cooley LLP.](d453401dex51.htm) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;23.1\* | [Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm.](d453401dex231.htm) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;23.2\* | [Consent of Cooley LLP (included in Exhibit 5.1).](d453401dex51.htm) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;24.1\* | [Power of Attorney (included on the signature page of this registration statement).](d453401ds8.htm#sig) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;99.1 | [2021 Equity Incentive Plan.](http://www.sec.gov/Archives/edgar/data/1768446/000119312521232117/d105292dex104.htm) | S-1 | 333-257980 | 10.4 | August 2, 2021 |
| &nbsp;&nbsp;&nbsp;&nbsp;99.2 | [Forms of Option Agreement, Stock Option Grant Notice and Notice of Exercise under the 2021 Equity Incentive Plan.](http://www.sec.gov/Archives/edgar/data/1768446/000119312521232117/d105292dex105.htm) | S-1 | 333-257980 | 10.5 | August 2, 2021 |
| &nbsp;&nbsp;&nbsp;&nbsp;99.3 | [Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Award Agreement under the 2021 Equity Incentive Plan.](http://www.sec.gov/Archives/edgar/data/1768446/000119312521232117/d105292dex106.htm) | S-1 | 333-257980 | 10.6 | August 2, 2021 |
| &nbsp;&nbsp;&nbsp;&nbsp;99.4 | [2021 Employee Stock Purchase Plan.](http://www.sec.gov/Archives/edgar/data/1768446/000119312521232117/d105292dex107.htm) | S-1 | 333-257980 | 10.7 | August 2, 2021 |
| 107\* | [Filing Fee Table.](d453401dexfilingfees.htm) |  |  |  |  |

---

**\*** Filed herewith 

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Redmond, State of Washington, on this 6th day of March, 2023.

---

| | |
|:---|:---|
|  **ELIEM THERAPEUTICS, INC.** | **ELIEM THERAPEUTICS, INC.** |
|  By: | /s/ Andrew Levin |
|  | Andrew Levin, M.D., Ph.D. |
|  | Executive Chairman of the Board of Directors |

---

**POWER OF ATTORNEY** 

**KNOW ALL PERSONS BY THESE PRESENTS,** that each person whose signature appears below constitutes and appoints Andrew Levin and Erin M. Lavelle, and each one of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in their name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Andrew Levin<br> Andrew Levin, M.D., Ph.D. | Executive Chairman of the Board of Directors<br> *(Principal Executive Officer)* | March 6, 2023 |
| /s/ Erin M. Lavelle<br> Erin M. Lavelle | Executive Vice President, Chief Operating<br> Officer and Chief Financial Officer<br> *(Principal Financial and Accounting Officer)* | March 6, 2023 |
| /s/ Judith Dunn<br> Judith Dunn, Ph.D. | Director | March 6, 2023 |
| /s/ Liam Ratcliffe<br> Liam Ratcliffe, M.D., Ph.D. | Director | March 6, 2023 |
| /s/ Adam Rosenberg<br> Adam Rosenberg | Director | March 6, 2023 |
| /s/ Simon Tate<br> Simon Tate | Director | March 6, 2023 |

---

## Exhibit 5.1

**Exhibit 5.1**![LOGO](g453401g0304031204514.jpg)

Alan Hambelton

T: +1 206 452 8756

ahambelton@cooley.com

March 6, 2023

Eliem Therapeutics, Inc.

23515 NE Novelty Hill Road, Suite B221 #125

Redmond, WA 98053

Ladies and Gentlemen:

We have represented Eliem Therapeutics, Inc., a Delaware corporation (the "***Company***"), in connection with the filing by the Company of a Registration Statement on Form S-8 (the "***Registration Statement***") with the Securities and Exchange Commission (the "***Commission***") covering the offering of up to 1,594,060 shares (the "***Shares***") of the Company's Common Stock, par value $0.0001 per share (the "***Common Stock***"), consisting of (i) 1,328,384 shares of Common Stock issuable pursuant to the Company's 2021 Equity Incentive Plan (the "***2021 Plan***"), and (iii) 265,676 shares of Common Stock issuable pursuant to the Company's 2021 Employee Stock Purchase Plan (together with the 2021 Plan, the "***Plans***").

In connection with this opinion, we have examined and relied upon (a) the Registration Statement and the related prospectuses, (b) the Company's certificate of incorporation and bylaws, each as currently in effect, (c) the Plans, and (d) originals or copies certified to our satisfaction of such records, documents, certificates, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinion expressed below. We have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to originals of all documents submitted to us as copies, the accuracy, completeness and authenticity of certificates of public officials, and the due authorization, execution and delivery of all documents by all persons other than the Company where authorization, execution and delivery are prerequisites to the effectiveness thereof. As to certain factual matters, we have relied upon a certificate of an officer of the Company and have not independently verified such matters.

Our opinion is expressed only with respect to the General Corporation Law of the State of Delaware. We express no opinion to the extent that any other laws are applicable to the subject matter hereof and express no opinion and provide no assurance as to compliance with any federal or state securities law, rule or regulation.

On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when sold and issued in accordance with the Plans, the Registration Statement and the related prospectuses, will be validly issued, fully paid and nonassessable (except as to shares issued pursuant to certain deferred payment arrangements, which will be fully paid and nonassessable when such deferred payments are made in full).

Cooley LLP 1700 Seventh Avenue, Suite 1900, Seattle, WA 98101

Phone: (206) 452-8700 Fax: (206) 452-8800 Cooley.com

------

![LOGO](g453401g0304031204514.jpg)

Eliem Therapeutics, Inc. March 6, 2023 Page Two

We consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act, or the rules and regulations of the Commission thereunder.

Sincerely,

---

| | |
|:---|:---|
| Cooley LLP | Cooley LLP |
| By: | /s/ Alan D. Hambelton |
|  | Alan D. Hambelton |

---

Cooley LLP 1700 Seventh Avenue, Suite 1900, Seattle, WA 98101

Phone: (206) 452-8700 Fax: (206) 452-8800 Cooley.com

## Exhibit 23.1

**Exhibit 23.1** 

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Eliem Therapeutics, Inc. of our report dated March 6, 2023 relating to the financial statements, which appears in Eliem Therapeutics, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2022.

/s/ PricewaterhouseCoopers LLP

Seattle, Washington

March 6, 2023

## Ex-Filing

**Exhibit 107** 

**Calculation of Filing Fee Table** 

<u>Form S-8</u> 

(Form Type)

<u>Eliem Therapeutics, Inc.</u> 

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; **Security**<br> **Type** | **Security Class**<br> **Title** | **Fee<br>Calculation<br>Rule** | **Amount<br>Registered(1)** | **Proposed<br>Maximum**<br> **Offering<br>Price Per<br>Unit** | **Maximum<br>Aggregate**<br> **Offering Price** | **Fee**<br> **Rate** | **Amount of<br>Registration<br>Fee** |
| &nbsp;&nbsp;&nbsp;Equity | Common<br> Stock, par<br> value<br> $0.0001 per<br> share, Eliem<br> Therapeutics,<br> Inc. 2021<br> Employee<br> Stock<br> Purchase<br> Plan | Other(2) | 265676 | $3.31(3) | $879388 | $0.0001102 | $97 |
| &nbsp;&nbsp;&nbsp;Equity | Common Stock, par value $0.0001 per share, Eliem Therapeutics, Inc. 2021 Equity Incentive Plan | Other(4) | 1328384 | $3.89(5) | $5167414 | $0.0001102 | $569 |
| &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** |  | $6046802 |  | $666 |
| &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** |  |  |  | $666 |

---

(1) Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the "  ***Securities Act*** "), this Registration Statement shall also cover any additional shares of the Registrant's common stock that become issuable under the plans set forth herein by reason of any stock dividend, stock split, recapitalization, or
other similar transaction effected that results in an increase to the number of outstanding shares of the Registrant's common stock, as applicable.

(2) Represents an automatic annual increase equal to 1% of the total number of shares of the Registrant's
common stock outstanding on December 31, 2022, which annual increase is provided by the Registrant's 2021 Employee Stock Purchase Plan (the "  ***2021 ESPP*** ").

(3) Estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of
calculating the registration fee on the basis of the average of the high and low prices of the Registrant's common stock as reported on the Nasdaq Global Market on March 1, 2023, multiplied by 85%, which is the percentage of the price per
share applicable to purchases under the 2021 ESPP.

(4) Represents an automatic annual increase equal to 5% of the total number of shares of the Registrant's
common stock outstanding on December 31, 2022, which annual increase is provided by the Registrant's 2021 Equity Incentive Plan (the "  ***2021 Plan*** ").

(5) Estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of
calculating the registration fee on the basis of the average of the high and low prices of the Registrant's common stock as reported on the Nasdaq Global Market on March 1, 2023.