SCHEDULE: Access Industries Fully Divests Climb Bio Stake
Amendment to Beneficial Ownership Report
Access Industries and its affiliates have fully divested their beneficial ownership in Climb Bio, Inc., selling over 3.8 million shares in recent block trades.
Summary
- AI ETI LLC, Access Industries Holdings LLC, Access Industries Management, LLC, and Len Blavatnik (collectively, the "Reporting Persons") have filed Amendment No. 5 to their Schedule 13D.
- The amendment reports the complete divestment of their beneficial ownership in Climb Bio, Inc. (formerly known as Eliem Therapeutics, Inc.).
- On October 14, 2025, AI ETI sold 750,000 shares of Common Stock at a price of $1.9202 per share in a block trade.
- On October 16, 2025, AI ETI sold an additional 1,000,000 shares and 2,085,117 shares, each in separate block trades, at a price of $1.95 per share.
- As of October 14, 2025, each of the Reporting Persons ceased to be the beneficial owner of more than five percent of Climb Bio's Common Stock.
- The aggregate amount beneficially owned by each reporting person is now 0.00 shares, representing 0.0% of the class.
- The percentage of class is based on an aggregate of 67,764,100 shares of Common Stock issued and outstanding as of July 31, 2025, as reported in Climb Bio's Form 10-Q filed with the SEC on August 12, 2025.
Sentiment
Score: 3
Explanation: The complete divestment by a significant institutional investor group, Access Industries, is generally viewed negatively by the market as it can signal a lack of confidence in the company's future and potentially lead to increased selling pressure on the stock.
Positives
- Increased float in Climb Bio's common stock may improve liquidity for other investors.
- The sales occurred at prices between $1.9202 and $1.95 per share, indicating a market for the shares.
Negatives
- A significant institutional investor group, Access Industries, has fully divested its stake, which could signal a lack of confidence in Climb Bio's future prospects.
- The sale of a large block of shares could put downward pressure on the stock price in the short term.
Risks
- The complete divestment by a major shareholder could be perceived negatively by the market, potentially leading to a decline in investor confidence and share price.
- Increased selling pressure from the block trades could impact market stability for Climb Bio's stock.
Future Outlook
The filing does not provide any forward-looking statements or guidance from Climb Bio, Inc. or the Reporting Persons regarding the company's future operations or financial performance.
Industry Context
This divestment by a major investor group could be interpreted by the market as a signal regarding the investor's long-term view on the biotechnology sector or Climb Bio's specific position within it. While not directly tied to broader industry trends, a significant shareholder exit can influence investor sentiment, particularly for smaller biotech firms.
Comparison to Industry Standards
- The filing does not provide sufficient information to compare Climb Bio's results or performance against global industry benchmarks or specific comparable companies or projects.
Related Party Transactions
- The share sales by AI ETI LLC, an entity associated with Access Industries and Len Blavatnik, represent a significant transaction by a previously related party (major shareholder) divesting its entire stake.
Stakeholder Impact
- Shareholders: Existing shareholders may experience downward pressure on the stock price due to the large block sales and the perceived lack of confidence from a major investor. The increased float could also lead to higher liquidity.
- Management: Management may face increased scrutiny regarding the company's strategy and performance following the exit of a significant investor.
Next Steps
- The filing does not explicitly mention any future actions, events, or milestones for Climb Bio, Inc. or the Reporting Persons beyond the completion of the share sales.
Key Dates
| Date | Description |
|---|---|
| August 23, 2021 | Initial Schedule 13D filed by the Reporting Persons. |
| November 13, 2023 | Amendment No. 1 to Schedule 13D filed. |
| May 17, 2024 | Amendment No. 2 to Schedule 13D filed. |
| August 16, 2024 | Amendment No. 3 to Schedule 13D filed. |
| July 31, 2025 | Date as of which 67,764,100 shares of Common Stock were issued and outstanding, as reported in the Issuer's Form 10-Q. |
| August 12, 2025 | Date Issuer's Form 10-Q was filed with the SEC. |
| October 7, 2025 | Amendment No. 4 to Schedule 13D filed. |
| October 14, 2025 | Date of event requiring filing of this statement; AI ETI sold 750,000 shares; Reporting Persons ceased to be beneficial owners of more than five percent of the Issuer's Common Stock. |
| October 16, 2025 | AI ETI sold 1,000,000 shares and 2,085,117 shares in separate block trades; Date of Joint Filing Agreement. |
Recommendation
sellThe complete divestment by a major institutional investor group like Access Industries, led by Len Blavatnik, typically signals a loss of confidence in the company's long-term prospects. Such a large-scale exit can create significant selling pressure on the stock and is often interpreted as a negative indicator by the market, suggesting that the stock may underperform or decline further. Investors should consider the implications of this major shareholder exit and the potential for continued downward pressure.
Keywords
Climb Bio, AI ETI LLC, Access Industries, Len Blavatnik, Schedule 13D/A, beneficial ownership, stock sale, divestment, block trade, biotechnology, pharmaceuticals
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