SCHEDULE 13G/A: Adams Street Partners Discloses 2.3% Passive Stake in Mineralys Therapeutics

Adams Street Partners, LLC and its affiliated funds have filed an amended Schedule 13G, reporting a collective passive beneficial ownership of 2.3% in Mineralys Therapeutics, Inc.'s common stock as of December 31, 2024.

Summary

• Adams Street Partners, LLC, an investment adviser, along with several of its direct venture/growth and growth equity funds, has filed an Amendment No. 1 to Schedule 13G regarding its beneficial ownership in Mineralys Therapeutics, Inc.
• As of December 31, 2024, Adams Street Partners, LLC beneficially owns an aggregate of 1,129,807 shares of Mineralys Therapeutics, Inc. common stock, representing 2.3% of the class.
• This aggregate ownership is held indirectly through various funds, including Adams Street 2016 Direct Venture/Growth Fund LP (91,126 shares, 0.2%), Adams Street 2017 Direct Venture/Growth Fund LP (117,878 shares, 0.2%), Adams Street 2018 Direct Venture/Growth Fund LP (176,038 shares, 0.4%), Adams Street 2019 Direct Growth Equity Fund LP (98,889 shares, 0.2%), Adams Street 2020 Direct Growth Equity Fund LP (105,448 shares, 0.2%), Adams Street 2021 Direct Growth Equity Fund LP (102,305 shares, 0.2%), and Adams Street Growth Equity Fund VII LP (438,123 shares, 0.9%).
• Each reporting person, including Adams Street Partners, LLC and its affiliated funds, holds sole voting and sole dispositive power over their respective shares.
• The filing indicates a passive investment, as it is filed under Rule 13d-1(b), typically used by institutional investors holding less than 20% of a class of securities with no intent to influence control.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain subjective language or performance metrics that would indicate a positive or negative sentiment. It is a routine regulatory filing.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of passive beneficial ownership by an institutional investor in a publicly traded company. It does not provide specific insights into broader industry trends or competitive positioning beyond indicating an investment in the biotechnology or pharmaceutical sector, given Mineralys Therapeutics' likely industry.

Stakeholder Impact

• Shareholders: The filing provides transparency regarding a significant institutional investor's stake, which can be viewed as a vote of confidence or a routine portfolio adjustment. It does not indicate any active intent to influence management or control.

Key Dates

Keywords

Mineralys Therapeutics, Adams Street Partners, SEC filing, Schedule 13G, beneficial ownership, common stock, investment adviser, passive investment, institutional investor