SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
(Rule 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No._______)*
CollaGenex Pharmaceuticals, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
19419B100
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(CUSIP Number)
*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
disclosures provided in a prior cover page.
The information required on 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).
(Continued on following pages)
Page 1 of 13 Pages
Exhibit Index Contained on Page 12
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<S> <C> <C>
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CUSIP NO. 19419B100 13 G Page 2 of 13 Pages
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1 NAME OF REPORTING PERSONS
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Delphi Ventures III, L.P. ("DV III")
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 613,946 shares, except that Delphi Management Partners III, L.P.
BENEFICIALLY ("DMP III"), the general partner of DVIII, and Bochnowski, Douglass,
OWNED BY EACH REPORTING and Lothrop, the general partners of DMP III, may be deemed to have
PERSON shared power to vote these shares.
WITH
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6 SHARED VOTING POWER
See response to row 5.
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7 SOLE DISPOSITIVE POWER
613,946 shares, except that DMP
III, the general partner of DVIII,
and Bochnowski, Douglass, and
Lothrop, the general partners of
DMP III, may be deemed to have
shared power to dispose of these
shares.
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8 SHARED DISPOSITIVE POWER
See response to row 7.
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 613,946
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.15%
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12 TYPE OF REPORTING PERSON*
PN
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<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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CUSIP NO. 19419B100 13 G Page 3 of 13 Pages
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1 NAME OF REPORTING PERSONS
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Delphi BioInvestments III, L.P. ("DBI III")
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 11,054 shares, except that DMP III, the general partner of DBI III, and
BENEFICIALLY Bochnowski, Douglass, and Lothrop, the general partners of DMP III,
OWNED BY EACH REPORTING may be deemed to have shared power to vote these shares.
PERSON
WITH
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6 SHARED VOTING POWER
See response to row 5.
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7 SOLE DISPOSITIVE POWER
11,054 shares, except that DMP III,
the general partner of DBI III, and
Bochnowski, Douglass, and Lothrop,
the general partners of DMP III,
may be deemed to have shared power
to dispose of these shares.
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8 SHARED DISPOSITIVE POWER
See response to row 7.
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 11,054
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.15%
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12 TYPE OF REPORTING PERSON*
PN
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<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
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<TABLE>
<S> <C> <C>
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CUSIP NO. 19419B100 13 G Page 4 of 13 Pages
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1 NAME OF REPORTING PERSONS
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Delphi Management Partners III, L.P. ("DMP III")
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares.
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON
WITH
-------- -----------------------------------------------------------------------
6 SHARED VOTING POWER
625,000 shares, of which 613,946 are directly owned by DV III and
11,054 are directly owned by DBI III. DMP III is the general partner
of DV III and DBI III and may be
deemed to have shared power to vote
these shares.
-------- -----------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0 shares.
-------- -----------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
625,000 shares, of which 613,946 are directly owned by DV III and
11,054 are directly owned by DBI III. DMP III is the general partner
of DV III and DBI III and may be
deemed to have shared power to
dispose of these shares.
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 625,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.29%
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12 TYPE OF REPORTING PERSON*
PN
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<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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CUSIP NO. 19419B100 13 G Page 5 of 13 Pages
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1 NAME OF REPORTING PERSONS
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
James J. Bochnowski ("Bochnowski")
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares.
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON
WITH
-------- -----------------------------------------------------------------------
6 SHARED VOTING POWER
625,000 shares, of which 613,946
are directly owned by DV III and
11,054 are directly owned by DBI
III. DMP III is the general partner
of DV III and DBI III, and
Bochnowski, a general partner of
DMP III, may be deemed to have
shared power to vote these shares.
-------- -----------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0 shares.
-------- -----------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
625,000 shares, of which 613,946
are directly owned by DV III and
11,054 are directly owned by DBI
III. DMP III is the general partner
of DV III and DBI III, and
Bochnowski, a general partner of
DMP III, may be deemed to have
shared power to dispose of these
shares.
- ----------- --------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 625,000
- ----------- --------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ----------- --------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.29%
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12 TYPE OF REPORTING PERSON*
IN
- ----------- --------------------------------------------------------------------------------------------------------
<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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CUSIP NO. 19419B100 13 G Page 6 of 13 Pages
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1 NAME OF REPORTING PERSONS
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
David L. Douglass ("Douglass")
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares.
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON
WITH
-------- -----------------------------------------------------------------------
6 SHARED VOTING POWER
625,000 shares, of which 613,946
are directly owned by DV III and
11,054 are directly owned by DBI
III. DMP III is the general partner
of DV III and DBI III, and
Douglass, a general partner of DMP
III, may be deemed to have shared
power to vote these shares.
-------- -----------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0 shares.
-------- -----------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
625,000 shares, of which 613,946
are directly owned by DV III and
11,054 are directly owned by DBI
III. DMP III is the general partner
of DV III and DBI III, and
Douglass, a general partner of DMP
III, may be deemed to have shared
power to dispose of these shares.
- ----------- --------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 625,000
- ----------- --------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ----------- --------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.29%
- ----------- --------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON* IN
- ----------- --------------------------------------------------------------------------------------------------------
<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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CUSIP NO. 19419B100 13 G Page 7 of 13 Pages
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1 NAME OF REPORTING PERSONS
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Donald J. Lothrop ("Lothrop")
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
- ----------- --------------------------------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares.
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON
WITH
-------- -----------------------------------------------------------------------
6 SHARED VOTING POWER
625,000 shares, of which 613,946
are directly owned by DV III and
11,054 are directly owned by DBI
III. DMP III is the general partner
of DV III and DBI III, and Lothrop,
a general partner of DMP III, may
be deemed to have shared power to
vote these shares.
-------- -----------------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0 shares.
-------- -----------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
625,000 shares, of which 613,946
are directly owned by DV III and
11,054 are directly owned by DBI
III. DMP III is the general partner
of DV III and DBI III, and Lothrop,
a general partner of DMP III, may
be deemed to have shared power to
dispose of these shares.
- ----------- --------------------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 625,000
- ----------- --------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
- ----------- --------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.29%
- ----------- --------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON* IN
- ----------- --------------------------------------------------------------------------------------------------------
<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
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Page 8 of 13 Pages
ITEM 1(a). NAME OF ISSUER:
CollaGenex Pharmaceuticals, Inc.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
301 South State Street
Newton, PA 18940
ITEM 2(a). NAME OF PERSONS FILING:
This Statement is filed by Delphi Ventures III, L.P., a
Delaware limited partnership ("DV III"), Delphi BioInvestments
III, L.P. ("DBI III"), Delphi Management Partners III, L.P., a
Delaware limited partnership ("DMP III"), James J. Bochnowski
("Bochnowski"), David L. Douglass ("Douglass"), and Donald J.
Lothrop ("Lothrop"). The foregoing entities and individuals
are collectively referred to as the "Reporting Persons."
DMP III is the general partner of DV III and DBI III, and may
be deemed to have shared power to vote and shared power to
dispose of shares of the issuer directly owned by DV III and
DBI III. Bochnowski, Douglass and Lothrop are the general
partners of DMP III, and may be deemed to have shared power to
vote and shared power to dispose of the shares of issuer
directly owned by DV III and DBI III.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR, IF NONE, RESIDENCE:
The address for each of the Reporting Persons is:
Delphi Ventures
3000 Sand Hill Road
Building I, Suite 135
Menlo Park, CA 94025
ITEM 2(c) CITIZENSHIP:
DV III, DBI III and DMP III are Delaware limited partnerships,
and Bochnowski, Douglass and Lothrop are United States
citizens.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2(e). CUSIP NUMBER:
CUSIP # 19419B100
ITEM 3. Not Applicable
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Page 9 of 13 Pages
ITEM 4. OWNERSHIP:
The following information with respect to the ownership of the
Common Stock of the issuer by the persons filing this
Statement is provided as of December 31, 1996:
(a) Amount beneficially owned:
See Row 9 of cover page for each Reporting Person.
(b) Percent of Class:
See Row 11 of cover page for each Reporting Person.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
See Row 5 of cover page for each Reporting
Person.
(ii) Shared power to vote or to direct the vote:
See Row 6 of cover page for each Reporting
Person.
(iii) Sole power to dispose or to direct the
disposition of:
See Row 7 of cover page for each Reporting
Person.
(iv) Shared power to dispose or to direct the
disposition of:
See Row 8 of cover page for each Reporting
Person.
<PAGE>
Page 10 of 13 Pages
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
Under certain circumstances set forth in the limited
partnership agreements of DV III, DBI III, and DMP III, the
general and limited partners of each of such entities may be
deemed to have the right to receive dividends from, or the
proceeds from, the sale of shares of the issuer owned by each
such entity of which they are a partner.
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:
Not applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable
ITEM 10. CERTIFICATION:
Not applicable
<PAGE>
Page 11 of 13 Pages
SIGNATURES
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.
Dated: February 11, 1997
/s/ James J. Bochnowski
--------------------------------------------------
James J. Bochnowski, individually, and on behalf
of DVIII, in his capacity as a general partner of
DMP III, the general partner of DVIII, on behalf
of DBI III, in his capacity as a general partner
of DMP III, the general partner of DBI III, and on
behalf of DMP III in his capacity as a general
partner thereof.
/s/ David L. Douglass
--------------------------------------------------
David L. Douglass
/s/ Donald J. Lothrop
--------------------------------------------------
Donald J. Lothrop
<PAGE>
Page 12 of 13 Pages
EXHIBIT INDEX
Found on
Sequentially
Exhibit Numbered Page
Exhibit A: Agreement of Joint Filing 13
<PAGE>
Page 13 of 13 Pages
EXHIBIT A
Agreement of Joint Filing
The undersigned hereby agree that a single Schedule 13G (or
any amendment thereto) relating to the Common Stock of CollaGenex
Pharmaceuticals, Inc. shall be filed on behalf of each of the undersigned and
that this Agreement shall be filed as an exhibit to such Schedule 13G.
Dated: February 11, 1997
/s/ James J. Bochnowski
--------------------------------------------------
James J. Bochnowski, individually, and on behalf
of DVIII, in his capacity as a general partner of
DMP III, the general partner of DVIII, on behalf
of DBI III, in his capacity as a general partner
of DMP III, the general partner of DBI III, and on
behalf of DMP III in his capacity as a general
partner thereof.
/s/ David L. Douglass
--------------------------------------------------
David L. Douglass
/s/ Donald J. Lothrop
--------------------------------------------------
Donald J. Lothrop .
