<PAGE>
---------------------------------------------
OMB APPROVAL
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OMB NUMBER: 3235-0145
EXPIRES: DECEMBER 31, 1997
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE........ 14.90
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ___ )*
CollaGenex Pharmaceuticals, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
00019419B1
- --------------------------------------------------------------------------------
(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 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).
Page 1 of 14 pages
<PAGE>
- --------------------- ------------------
CUSIP NO. 00019419B1 13G PAGE 2 OF 14 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Advanced Technology Ventures III, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 390,299 shares
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 390,299 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,299 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 14 pages
<PAGE>
- --------------------- ------------------
CUSIP NO. 00019419B1 13G PAGE 3 OF 14 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ATV Associates III, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 390,299 shares
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 390,299 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,299 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 14 pages
<PAGE>
- --------------------- ------------------
CUSIP NO. 00019419B1 13G PAGE 4 OF 14 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Albert E. Paladino
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 390,299 shares
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 390,299 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,299 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 14 pages
<PAGE>
- --------------------- ------------------
CUSIP NO. 00019419B1 13G PAGE 5 OF 14 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pieter J. Schiller
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 390,299 shares
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 390,299 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,299 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 14 pages
<PAGE>
- --------------------- ------------------
CUSIP NO. 00019419B1 13G PAGE 6 OF 14 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jos C. Henkens
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 shares
------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 390,299 shares
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 shares
------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 390,299 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
390,299 shares
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 14 pages
<PAGE>
Schedule 13G
------------
Item 1(a). Name of Issuer: CollaGenex Pharmaceuticals, Inc.
---------------
Item 1(b). Address of Issuer's Principal Executive Offices:
-----------------------------------------------
301 South State Street, Newtown, PA 18940.
Item 2(a). Names of Persons Filing: Advanced Technology Ventures III,
-----------------------
L.P., ATV Associates III, L.P., Albert E. Paladino, Pieter J.
Schiller and Jos C. Henkens.
ATV Associates III, L.P. is the sole general partner of Advanced
Technology Ventures III, L.P. Messrs. Paladino, Schiller and Henkens
are individual general partners of ATV Associates III, L.P.
Item 2(b). Address of Principal Business Office or, if None, Residence:
-----------------------------------------------------------
The address of the principal business office of Advanced Technology
Ventures III, L.P., ATV Associates III, L.P., Albert E. Paladino and
Pieter J. Schiller is 281 Winter Street, Waltham, MA 02154. The
address of Jos C. Henkens is 485 Ramona Street, Suite 200, Palo
Alto, California 94301.
Item 2(c). Citizenship: Advanced Technology Ventures III, L.P. and ATV
-----------
Associates III, L.P. are limited partnerships organized under the
laws of the State of Delaware. Each of Messrs. Paladino, Schiller
and Henkens is a United States citizen.
Item 2(d). Title of Class of Securities: Common Stock, $.01 par value
----------------------------
per share
Item 2(e). CUSIP Number: 00019419B1
-------------
Item 3. If this statement if filed pursuant to Rules 13d-1(b), or 13d-2(b),
-------------------------------------------------------------------
check whether the person filing is a:
-------------------------------------
(a) [ ] Broker or Dealer registered under Section 15 of the
Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act.
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940.
Page 7 of 14 pages
<PAGE>
(e) [ ] Investment Advisor registered under Section 203 of the
Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see Rule 13d-1(b)(1)(ii)(f) of the
Act.
(g) [ ] Parent Holding Company, in accordance with Rule 13d-
1(b)(ii)(G) of the Act.
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H) of the Act.
Not Applicable.
Item 4. Ownership.
---------
(a) Amount Beneficially Owned
Each of Advanced Technology Ventures III, L.P., ATV
Associates III, L.P. (individually an "Entity" and
collectively the "Entities"), Albert E. Paladino, Pieter J.
Schiller, and Jos C. Henkens may be deemed to own
beneficially 390,299 shares of Common Stock as of December
31, 1996 .
As of December 31, 1996, Advanced Technology Ventures III,
L.P. was the record owner of 390,299 shares of Common Stock.
(The shares held of record by Advanced Technology Ventures
III, L.P. are referred to herein collectively as the "Record
Shares"). By virtue of the affiliate relationships among the
Entities, each Entity may be deemed to own beneficially all
of the Record Shares. Hence, each Entity may be deemed to own
beneficially 390,299 shares of Common Stock. In their
capacities as individual general partners of ATV Associates
III, L.P., each of Messrs. Paladino, Schiller and Henkens may
be deemed to own beneficially 390,299 shares of Common Stock.
Page 8 of 14 pages
<PAGE>
(b) Percent of Class:
Advanced Technology Ventures III, L.P.: 5.2%
ATV Associates III, L.P.: 5.2%
Albert E. Paladino: 5.2%
Pieter J. Schiller: 5.2%
Jos C. Henkens: 5.2%
The foregoing percentages are calculated based on the
7,516,783 shares of Common Stock reported to be outstanding in
the Form 10Q as filed with the SEC for the quarterly period
ended September 30, 1996.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
Advanced Technology Ventures III, L.P.: 0 shares
ATV Associates III, L.P.: 0 shares
Albert E. Paladino: 0 shares
Pieter J. Schiller: 0 shares
Jos C. Henkens: 0 shares
(ii) shared power to vote or to direct the vote:
Advanced Technology Ventures III, L.P.: 390,299 shares
ATV Associates III, L.P.: 390,299 shares
Albert E. Paladino: 390,299 shares
Pieter J. Schiller: 390,299 shares
Jos C. Henkens: 390,299 shares
(iii) sole power to dispose or direct the disposition:
Advanced Technology Ventures III, L.P.: 0 shares
ATV Associates III, L.P.: 0 shares
Albert E. Paladino: 0 shares
Pieter J. Schiller: 0 shares
Jos C. Henkens: 0 shares
(iv) shared power to dispose or direct the disposition:
Advanced Technology Ventures III, L.P.: 390,299 shares
ATV Associates III, L.P.: 390,299 shares
Albert E. Paladino: 390,299 shares
Pieter J. Schiller: 390,299 shares
Jos C. Henkens: 390,299 shares
Page 9 of 14 pages
<PAGE>
Each of reporting persons expressly disclaims beneficial ownership of
any shares of Common Stock of CollaGenex, except in the case of
Advanced Technology Ventures III, L.P. for the 390,299 shares which
it holds of record.
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.
------
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.
---------------------------------------------------------
Not Applicable. The Reporting Persons expressly disclaim membership
in a "group" within the meaning of Regulation 13D.
Item 9. Notice of Dissolution of Group.
------------------------------
Not Applicable.
Item 10. Certification.
-------------
Not Applicable. This statement on Schedule 13G is not filed
pursuant to Rule 13d-1(b).
Page 10 of 14 pages
<PAGE>
SIGNATURES
----------
After reasonable inquiry and to the best of my knowledge and belief, we
certify that the information set forth in this statement is true,
complete and correct. We also hereby agree to file this statement
jointly pursuant to the Agreement set forth as Exhibit 1 hereto.
Date: February 11, 1997
ADVANCED TECHNOLOGY VENTURES III, L.P.
By: ATV Associates III, L.P.
By: *
-----------------------------------
General Partner
ADVANCED TECHNOLOGY ASSOCIATES III, L.P.
By: *
-----------------------------------
General Partner
/s/ Albert E. Paladino
---------------------------------------
Albert E. Paladino
*
---------------------------------------
Pieter J. Schiller
*
---------------------------------------
Jos C. Henkens
*By: /s/ Albert E. Paladino
--------------------------------
Albert E. Paladino
Attorney-in-Fact
-------------------------------------------------------------------------------
This Schedule 13G is executed pursuant to a Power of Attorney, filed
with the Securities and Exchange Commission on or about February 14,
1996, in connection with a Schedule 13G for TranSwitch Corporation, which
Power of Attorney is incorporated herein by reference, and a copy is
attached hereto as Exhibit 2.
---------
Page 11 of 14 pages
<PAGE>
EXHIBIT 1
---------
AGREEMENT
---------
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the
information required by Schedule 13G need be filed with respect to the
ownership by each of the undersigned of shares of Common Stock of
CollaGenex Pharmaceuticals, Inc.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
Date: February 11, 1997
ADVANCED TECHNOLOGY VENTURES III, L.P.
By: ATV Associates III, L.P.
-----------------------------------
By: *
-----------------------------------
General Partner
ADVANCED TECHNOLOGY ASSOCIATES III, L.P.
By: *
-----------------------------------
General Partner
/s/ Albert E. Paladino
--------------------------------------
Albert E. Paladino
*
--------------------------------------
Pieter J. Schiller
*
--------------------------------------
Jos C. Henkens
*By: /s/ Albert E. Paladino
--------------------------------
Albert E. Paladino
Attorney-in-Fact
-------------------------------------------------------------------------------
This Agreement is executed pursuant to an executed Power of
Attorney, which is attached hereto as Exhibit 2.
---------
Page 12 of 14 pages
<PAGE>
EXHIBIT 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below hereby constitutes and appoints Albert E. Paladino his true
and lawful attorney-in fact, with full power of substitution, to sign any
and all instruments, certificates and documents that may be necessary,
desirable or appropriate to be executed on behalf of himself as an
individual or in his capacity as a general partner of any partnership,
pursuant to Section 13 or 16 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), and any and all regulations promulgated
thereunder, and to file the same, with all exhibits thereto, and any
other documents in connection therewith, with the Securities and Exchange
Commission, and with any other entity when and if such is mandated by the
Exchange Act or by the By-laws of the National Association of Securities
Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary,
desirable or appropriate, fully to all intents and purposes as he might
or could do in person, thereby ratifying and confirming all that said
attorney-in fact, or his substitutes, may lawfully do or cause to be done
by virtue hereof.
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
14th day of February, 1996.
By: /s/ Pieter J. Schiller
-----------------------------
Pieter J. Schiller
By:
-----------------------------
Jos C. Henkens
Page 13 of 14 pages
<PAGE>
EXHIBIT 2
---------
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below hereby constitutes and appoints Albert E. Paladino his true
and lawful attorney-in fact, with full power of substitution, to sign any
and all instruments, certificates and documents that may be necessary,
desirable or appropriate to be executed on behalf of himself as an
individual or in his capacity as a general partner of any partnership,
pursuant to Section 13 or 16 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), and any and all regulations promulgated
thereunder, and to file the same, with all exhibits thereto, and any
other documents in connection therewith, with the Securities and Exchange
Commission, and with any other entity when and if such is mandated by the
Exchange Act or by the By-laws of the National Association of Securities
Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary,
desirable or appropriate, fully to all intents and purposes as he might
or could do in person, thereby ratifying and confirming all that said
attorney-in fact, or his substitutes, may lawfully do or cause to be done
by virtue hereof.
IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
14th day of February, 1996.
By:
-----------------------------
Pieter J. Schiller
By: /s/ Jos C. Henkens
-----------------------------
Jos C. Henkens
Page 14 of 14 pages
