Sec Form 4 Filing - Versant Venture Capital VII, L.P. @ CHINOOK THERAPEUTICS, INC. - 2022-01-03

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 Versant Venture Capital VII, L.P. 2. Issuer Name and Ticker or Trading Symbol CHINOOK THERAPEUTICS, INC. [ KDNY] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) ONE SANSOME STREET, SUITE 3630 3. Date of Earliest Transaction (MM/DD/YY) 01/03/2022 (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 01/03/2022 S( 1 ) 600,000 D $ 16.0002( 2 ) 3,623,023 D( 3 ) Common Stock 01/03/2022 S( 1 ) 308,000 D $ 16.0002( 2 ) 1,863,197 I See Footnote( 4 ) Common Stock 01/03/2022 S( 1 ) 92,000 D $ 16.0002( 2 ) 552,149 I See Footnote( 5 )

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 Versant Venture Capital VII, L.P. ONE SANSOME STREET SUITE 3630 SAN FRANCISCO, CA94104 X Versant Voyageurs I, L.P. ONE SANSOME STREET SUITE 3630 SAN FRANCISCO, CA94104 X Versant Voyageurs I Parallel, L.P. ONE SANSOME STREET SUITE 3630 SAN FRANCISCO, CA94104 X Signatures /s/ Robin L. Praeger, Managing Director of Versant Ventures VII GP-GP, LLC, general partner of Versant Ventures VII GP, L.P., general partner of Versant Venture Capital VII, L.P. 01/05/2022 Signature of Reporting Person Date /s/ Robin L. Praeger, President of Versant Voyageurs I GP Company, general partner of Versant Voyageurs I, L.P. 01/05/2022 Signature of Reporting Person Date /s/ Robin L. Praeger, Managing Director of Versant Ventures VI GP-GP LLC, general partner of Versant Ventures VI GP, L.P., general partner of Versant Voyageurs I GP, L.P., general partner of Versant Voyageurs I Parallel, L.P. 01/05/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The sale of these shares were effected pursuant to Rule 10b5-1 trading plans adopted by each of Versant Venture Capital VII, L.P. ("Versant VII"), Versant Voyageurs I, L.P. ("Versant Voyageurs I") and Versant Voyageurs I Parallel, L.P. ("Versant I Parallel"), respectively. ( 2 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.00 to $16.31, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) to this Form 4. ( 3 )These securities are held of record by Versant VII. Versant Ventures VII GP, L.P. ("Versant Ventures VII GP") is the general partner of Versant VII, and Versant Ventures VII GP-GP, LLC ("Versant Ventures VII GP-GP") is the general partner of Versant Ventures VII GP. Jerel C. Davis, a member of the Issuer's board of directors, is a managing director of Versant Ventures VII GP-GP and may be deemed to share voting and dispositive power over the shares held by Versant VII. Each of Versant VII GP-GP, Versant VII GP and Jerel C. Davis disclaims beneficial ownership of the shares held by Versant VII, except to the extent of their respective pecuniary interests therein. Jerel C. Davis is a director of the Issuer and, accordingly, files separate Section 16 reports. ( 4 )These securities are held of record by Versant Voyageurs I. Versant Voyageurs I GP Company is the general partner of Versant Voyageurs I. Jerel C. Davis, a member of the Issuer's board of directors, is a director of Versant Voyageurs I GP Company and may be deemed to share voting and dispositive power over the shares held by Versant Voyageurs I. Each of Versant Voyageurs I GP Company and Jerel C. Davis disclaims beneficial ownership of the shares held by Versant Voyageurs I, except to the extent of their respective pecuniary interests therein. Jerel C. Davis is a director of the Issuer and, accordingly, files separate Section 16 reports. ( 5 )These securities are held of record by Versant I Parallel. Versant Voyageurs I GP, L.P. ("Versant Voyageurs I GP") is the general partner of Versant I Parallel. Versant Ventures VI GP, L.P. ("Versant Ventures VI GP") is the general partner of Versant Voyageurs I GP. Versant Ventures VI GP-GP, LLC ("Versant Ventures VI GP-GP") is the general partner of Versant Ventures VI GP. Jerel C. Davis, a member of the Issuer's board of directors, is a managing director of Versant Ventures VI GP-GP and may be deemed to share voting and dispositive power over the shares held by Versant I Parallel. Each of Versant Ventures VI GP-GP, Versant Ventures VI GP, Versant Voyageurs I GP and Jerel C. Davis disclaims beneficial ownership of the shares held by Versant I Parallel, except to the extent of their respective pecuniary interests therein. Jerel C. Davis is a director of the Issuer and, accordingly, files separate Section 16 reports.

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).

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