UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934

(Amendment No. 2)*

IsoPlexis Corporation

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

465005 106

(CUSIP Number)

December 31, 2022

(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. 465005 106

CUSIP No. 465005 106

CUSIP No. 465005 106


Item 1(a).		Name of Issuer:
		IsoPlexis Corporation (the “Issuer”)

Item 1(b).		Address of Issuer’s Principal Executive Offices:

		35 NE Industrial Rd
		Branford, CT 06405

Item 2(a).		Names of Persons Filing:

The names of the persons filing this report (collectively, the “Reporting Persons”) are:

		Perceptive Advisors LLC (“Perceptive Advisors”)
		Joseph Edelman (“Mr. Edelman”)
		Perceptive Life Sciences Master Fund, Ltd. (the “Master Fund”)
		Perceptive Credit Advisors, LLC (“Perceptive Credit”)
		Perceptive Credit Holdings III, LP (“Perceptive Credit Holdings III”)
		PCOF EQ AIV III, LP (“PCOF”)

Item 2(b).		Address of Principal Business Office or, if None, Residence:

The address of the principal business office of each of the Reporting Persons is:

		51 Astor Place, 10th Floor
		New York, NY 10003

Item 2(c).		Citizenship:

		Perceptive Advisors is a Delaware limited liability company
		Mr. Edelman is a United States citizen
		The Master Fund is a Cayman Islands corporation
		Perceptive Credit is a Delaware limited liability company
		Perceptive Credit Holdings III is Delaware limited partnership
		PCOF is a Delaware limited partnership

Item 2(d).		Title of Class of Securities:
		Common Stock, par value $0.001 per share (“Common Stock”)

Item 2(e).		CUSIP Number:

		465005 106



Item 3.		If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
		Not applicable.

Item 4.		Ownership.

		The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G. The ownership percentages are based on 40,351,574 shares of Common Stock outstanding as of February 6, 2023, as reported in the Issuer’s proxy statement filed on February 6, 2023.

		Neither Perceptive Advisors nor Mr. Edelman directly holds any shares of Common Stock. The Master Fund directly holds 2,743,213 shares of Common Stock. Perceptive Credit Holdings III holds directly holds 335,962 shares of Common Stock and warrants exercisable for 811,374 shares of Common Stock. PCOF holds directly 204,949 shares of Common Stock. Perceptive Advisors serves as the investment manager to the Master Fund. Perceptive Credit serves as the investment manager to Perceptive Credit Holdings III and PCOF. Mr. Edelman is the managing member of Perceptive Advisors and Perceptive Credit.

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 Persons have ceased to be the beneficial owner of more than five 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 or Control Person.

		Not applicable.

Item 8.		Identification and Classification of Members of the Group.

		Not applicable.

Item 9.		Notice of Dissolution of Group.

		Not applicable.

Item 10.		Certification.

		By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.


Date:		February 14, 2023

PERCEPTIVE ADVISORS LLC

By:		/s/ Joseph Edelman
		Name: Joseph Edelman
		Title: Managing Member

/s/ Joseph Edelman
JOSEPH EDELMAN

PERCEPTIVE LIFE SCIENCES MASTER FUND, LTD.

By:		Perceptive Advisors LLC

By:		/s/ Joseph Edelman
		Name: Joseph Edelman
		Title: Managing Member

PERCEPTIVE CREDIT ADVISORS LLC

By:		/s/ Joseph Edelman
		Name: Joseph Edelman
		Title: Managing Member

PERCEPTIVE CREDIT HOLDINGS III, LP

By:		Perceptive Credit Opportunities GP, LLC, its general partner

By:		/s/ Joseph Edelman
		Name: Joseph Edelman
		Title: Managing Member


PCOF EQ AIV III, LP

By:		PCOF EQ AIV GP, LLC, its general partner

By:		/s/ Joseph Edelman
		Name: Joseph Edelman
		Title: Managing Member

NAMES OF REPORTING PERSONS

Perceptive Advisors LLC

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) ☐ (b) ☒

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

IsoPlexis Corp SC 13G/A