SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Decheng Capital Global Life Sciences Fund IV, L.P.
(Last) (First) (Middle)
UGLAND HOUSE, PO BOX 309
(Street)
GRAND CAYMAN E9 KY1-1104
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Aardvark Therapeutics, Inc. [ AARD ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
02/14/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/14/2025 C 2,333,887 A (1) 2,333,887 I By Decheng Capital Global Life Sciences Fund IV, L.P.(2)
Common Stock 02/14/2025 C 333,412 A (1) 333,412 I By Decheng Capital Global Healthcare Fund (Master), LP(3)
Common Stock 02/14/2025 P 625,000 A $16 2,958,887 I By Decheng Capital Global Life Sciences Fund IV, L.P.(2)
Common Stock 02/14/2025 P 625,000 A $16 958,412 I By Decheng Capital Global Healthcare Fund (Master), LP(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series C Convertible Preferred Stock (1) 02/14/2025 C 19,777,363 (1) (1) Common Stock 2,333,887 $0 0 I By Decheng Capital Global Life Sciences Fund IV, L.P.(2)
Series C Convertible Preferred Stock (1) 02/14/2025 C 2,825,337 (1) (1) Common Stock 333,412 $0 0 I By Decheng Capital Global Healthcare Fund (Master), LP(3)
1. Name and Address of Reporting Person*
Decheng Capital Global Life Sciences Fund IV, L.P.
(Last) (First) (Middle)
UGLAND HOUSE, PO BOX 309
(Street)
GRAND CAYMAN E9 KY1-1104
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Decheng Capital Management IV (Cayman), LLC
(Last) (First) (Middle)
UGLAND HOUSE, PO BOX 309
(Street)
GRAND CAYMAN E9 KY1-1104
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Decheng Capital Global Healthcare Fund (Master), LP
(Last) (First) (Middle)
UGLAND HOUSE, PO BOX 309
(Street)
GRAND CAYMAN E9 KY1-1104
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Decheng Capital Global Healthcare GP, LLC
(Last) (First) (Middle)
UGLAND HOUSE, PO BOX 309
(Street)
GRAND CAYMAN E9 KY1-1104
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Cui Xiangmin
(Last) (First) (Middle)
UGLAND HOUSE, PO BOX 309
(Street)
GRAND CAYMAN E9 KY1-1104
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. The Series C Convertible Preferred Stock of Aardvark Therapeutics, Inc. (the "Issuer") automatically converted on an 8.474-for-1 basis into shares of the Issuer's common stock ("Common Stock") immediately prior to the closing of the Issuer's initial public offering of its Common Stock. The Series C Convertible Preferred Stock had no expiration date.
2. These securities are held directly by Decheng Capital Global Life Sciences Fund IV, L.P. ("Fund IV"). Decheng Capital Management IV (Cayman), LLC ("GP IV") is the general partner of Fund IV. Xiangmin Cui is the manager of GP IV. Each of Fund IV, GP IV and Dr. Cui may be deemed to beneficially own the securities held by Fund IV. Each of GP IV and Dr. Cui disclaims beneficial ownership of these securities, except to the extent of its or his proportionate pecuniary interest therein.
3. These securities are held directly by Decheng Capital Global Healthcare Fund (Master), LP ("Healthcare"). Decheng Capital Global Healthcare GP, LLC ("Healthcare GP") is the general partner of Healthcare. Xiangmin Cui is the indirect managing member and ultimate beneficial owner of Healthcare GP. Each of Healthcare GP and Dr. Cui may be deemed to beneficially own the securities held by Healthcare. Each of Healthcare GP and Dr. Cui disclaims beneficial ownership of these securities, except to the extent of its or his proportionate pecuniary interest therein.
Decheng Capital Global Life Sciences Fund IV, L.P., By Decheng Capital Management IV (Cayman), LLC, its General Partner, By /s/ Xiangmin Cui, Manager 02/19/2025
Decheng Capital Management IV (Cayman), LLC, By /s/ Xiangmin Cui, Manager 02/19/2025
Decheng Capital Global Healthcare Fund (Master), LP, By Decheng Capital Global Healthcare GP, LLC, its General Partner, By Decheng Capital LLC, its Manager, By /s/ Xiangmin Cui, Manager 02/19/2025
Decheng Capital Global Healthcare GP, LLC, By Decheng Capital LLC, its Manager, By /s/ Xiangmin Cui, Manager 02/19/2025
/s/ Xiangmin Cui 02/19/2025
** Signature of Reporting Person Date
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