Forbion Capital Fund III Cooperatief U.A. SC 13G/A Milestone Pharmaceuticals / Forbion Capital Fund III Cooperatief U.A. ownership change

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

Milestone Pharmaceuticals Inc.

(Name of Issuer)

Common Stock, no par value

(Title of Class of Securities)

59935V107

(CUSIP Number)

31 DECEMBER 2020

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

    CUSIP NO.   59935V107       13G/A Page 2 of 6 Pages

1.	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Forbion Capital Fund III Cooperatief U.A.
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)  ☐        (b)  ☐
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION The Netherlands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5.	SOLE VOTING POWER 0
		6.	SHARED VOTING POWER 0
		7.	SOLE DISPOSITIVE POWER 0
		8.	SHARED DISPOSITIVE POWER 0
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES  ☐
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0%
12.	TYPE OF REPORTING PERSON OO

    CUSIP NO.   59935V107       13G/A Page 3 of 6 Pages

1.	NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Forbion III Management B.V.
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)  ☐        (b)  ☐
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION The Netherlands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5.	SOLE VOTING POWER 0
		6.	SHARED VOTING POWER 0
		7.	SOLE DISPOSITIVE POWER 0
		8.	SHARED DISPOSITIVE POWER 0
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES  ☐
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0%
12.	TYPE OF REPORTING PERSON OO

    CUSIP NO.   59935V107       13G/A Page 4 of 6 Pages

Item 1(a).	Name of Issuer:
	Milestone Pharmaceuticals Inc
Item 1(b).	Address of Issuer���s Principal Executive Offices:
	1111 Dr. Frederik-Philips Boulevard, Suite 420
	Montreal, Quebec, Canada H4M2X6
Item 2(a).	Name of Person Filing:
	This Statement is being filed by Forbion Capital Fund III Coöperatief U.A. (“Coop III”), and Forbion III Management B.V. (“Forbion III”), the director of Coop III. Coop III and Forbion III are sometimes referred to collectively herein as the “Reporting Persons”.
Item 2(b).	Address of Principal Business Office or, if None, Residence:
	The address of the principal business and principal office of each of the Reporting Persons is c/o Forbion Capital Partners, Gooimeer 2-35, 1411 DC Naarden, The Netherlands.
Item 2(c).	Citizenship:
	Forbion Capital Fund III Coöperatief U.A.– The Netherlands
	Forbion III Management B.V. – The Netherlands
Item 2(d).	Title of Class of Securities:
	Common Stock, no par value
Item 2(e).	CUSIP Number:
	59935V107
Item 3.	n/a
Item 4.	Ownership.
	(a)   Amount beneficially owned: Nil
	(b)   Percent of class: 0%
	(c)   Number of shares as to which such person has:
	(i) Sole power to vote or to direct the vote: 0

    CUSIP NO.   59935V107       13G/A Page 5 of 6 Pages

	(ii)  Shared power to vote or to direct the vote: 0
	(iii)  Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of Five Percent or Less of a Class.
	If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following  ☒.
Item 6.	Ownership of More than Five Percent on Behalf of Another Person.
	Not applicable.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.
	Not applicable.
Item 8.	Identification and Classification of Members of the Group.
	The Reporting Persons are making this single, joint filing because they may be deemed to constitute a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Reporting Persons disclaim membership in a group and this report shall not be deemed an admission by any of the Reporting Persons that they are or may be members of a “group” for purposes of Rule 13d-5 or for any other purpose.
Item 9.	Notice of Dissolution of Group.
	Not applicable.
Item 10.	Certification.
	Not applicable .

    CUSIP NO.   59935V107       13G/A Page 6 of 6 Pages

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 12, 2021

FORBION CAPITAL FUND III COÖPERATIEF U.A.
By:	/s/ V. Van Houten                 /s/ H.A. Slootweg
	Name: V. van Houten        H.A. Slootweg
	Title: Directors of its director
FORBION III MANAGEMENT B.V.
By:	/s/ V. van Houten                  /s/ H.A. Slootweg
	Name: V. van Houten        H.A. Slootweg
	Title: its Directors