Sec Form 4 Filing - ATWOOD BRIAN G @ PHASERX, INC. - 2016-05-23

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ATWOOD BRIAN G 2. Issuer Name and Ticker or Trading Symbol PHASERX, INC. [ PZRX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O VERSANT VENTURES, ONE SANSOME STREET, SUITE 3630 3. Date of Earliest Transaction (MM/DD/YY) 05/23/2016 (Street) SAN FRANCISCO, CA94104 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 05/23/2016 S 435 D $ 0.01 8,965 I By Versant Side Fund III, L.P. ( 1 ) ( 2 ) Common Stock 05/23/2016 S 1,080 D $ 0.01 7,885 I By Versant Side Fund III, L.P. ( 1 ) ( 2 ) Common Stock 05/23/2016 P 3,523 A $ 5 11,408 I By Versant Side Fund III, L.P. ( 1 ) ( 2 ) Common Stock 05/23/2016 S 73,615 D $ 0.01 1,517,531 I By Versant Venture Capital III, L.P. ( 1 ) ( 2 ) Common Stock 05/23/2016 S 182,914 D $ 0.01 1,334,617 I By Versant Venture Capital III, L.P. ( 1 ) ( 2 ) Common Stock 05/23/2016 P 596,477 A $ 5 1,931,094 I By Versant Venture Capital III, L.P. ( 1 ) ( 2 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ATWOOD BRIAN G C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X X Versant Ventures III, LLC C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X Versant Side Fund III, L.P. C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X Versant Venture Capital III, L.P. C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X COLELLA SAMUEL D C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X JAFFE ROSS A MD C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X LINK WILLIAM J PHD C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X LUBASH BARBARA N C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X MILDER DONALD B C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X Praeger Robin L. C/O VERSANT VENTURES ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X Signatures /s/ ROBIN L. PRAEGER, as Managing Director of Versant Ventures III, LLC 05/24/2016 Signature of Reporting Person Date /s/ ROBIN L. PRAEGER, as Managing Director of Versant Ventures III, LLC the General Partner of Versant Side Fund III, L.P. 05/24/2016 Signature of Reporting Person Date /s/ ROBIN L. PRAEGER, as Managing Director of Versant Ventures III, LLC the General Partner of Versant Venture Capital III, L.P. 05/24/2016 Signature of Reporting Person Date /s/ ROBIN L. PRAEGER as Attorney-in-Fact for Brian Atwood 05/24/2016 Signature of Reporting Person Date /s/ ROBIN L. PRAEGER, as Attorney-in-Fact for Samuel D. Colella 05/24/2016 Signature of Reporting Person Date /s/ ROBIN L. PRAEGER, as Attorney-in-Fact for Ross Jaffe, M.D 05/24/2016 Signature of Reporting Person Date /s/ ROBIN L. PRAEGER, as Attorney-in-Fact for William J. Link 05/24/2016 Signature of Reporting Person Date /s/ ROBIN L. PRAEGER, as Attorney-in-Fact for Barbara N. Lubash 05/24/2016 Signature of Reporting Person Date /s/ ROBIN L. PRAEGER, as Attorney-in-Fact for Donald B. Milder 05/24/2016 Signature of Reporting Person Date /s/ Robin L. Praeger 05/24/2016 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Common stock held of record, respectively, by each of Versant Side Fund III, L.P. and Versant Venture Capital III, L.P., (the "Versant Venture Funds"). Versant Ventures III, LLC is the general partner of the Versant Venture Funds and has voting and dispositive control over securities held by the Versant Venture Funds. Brian G. Atwood, Samuel D. Colella, Ross Jaffe, M.D., William J. Link, Barbara N. Lubash, Donald B. Milder, Bradley J. Bolzon, Charles M. Warden, Robin L. Praeger and Rebecca R. Robertson are the managing directors of Versant Ventures III, LLC and are deemed to have voting and dispositive power over the shares and may be deemed to beneficially own shares held by the Versant Venture Funds. Brian G. Atwood is a managing member of and owns an interest in Versant Ventures III, LLC. ( 2 )Accordingly, Brian G. Atwood may be deemed to beneficially own the securities held by the Versant Venture Funds. Each of Brian G. Atwood, Samuel D. Colella, Ross Jaffe, M.D., William J. Link, Barbara N. Lubash, Donald B. Milder, Bradley J. Bolzon, Charles M. Warden, Robin L. Praeger and Rebecca R. Robertson disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein.

Remarks: This Form 4 is the first of two filings by Brian G. Atwood. Rebecca R. Robertson, Charles M. Warden and Bradley J. Bolzon (the "Other Filers") are also reporting persons. Since the SEC's filing system will not accept CIK and CCC codes from more than ten joint filers of a report, the Other Filers have filed a separate Form 4 that relates to the same securities reported herein. Thus, in total, there are 13 joint filers: the Other Filers and each person that is a signatory to this Form 4.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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