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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.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
03746E102
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*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 8 pages
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CUSIP NO. _________ 13G Page 2 of 4 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
FAIRFAX PARTNERS/THE VENTURE FUND OF WASHINGTON
I.R.S. Identification No. 54-1508777
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
INAPPLICABLE
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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5 SOLE VOTING POWER
NUMBER OF 446,517
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 446,517
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8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
446,517
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
INAPPLICABLE
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.9%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 8 pages
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PAGE 3 OF 4
ITEM 1
(a) The name of the Issuer is CollaGenex Pharmaceuticals, Inc.
(b) The address of the Issuer's Principal Executive Offices is:
301 South State Street, Newtown, PA. 18940.
ITEM 2
(a) The filer is a limited partnership, named Fairfax Partners/The
Venture Fund of Washington, L.P. (the "Partnership").
(b) The address of the filer's Principal Business Office is:
8000 Towers Crescent Drive, Suite 940, Vienna, VA. 22182
(c) U.S.A.
(d) Common Stock
(e) The Issuer's CUSIP number is: 19419B
ITEM 3
Item 3 relating to statement filed pursuant to Rule 13d-1(b) or
13d-2(b) is inapplicable.
ITEM 4
(a) The amount of shares beneficially owned is 446,517
(b) The percent of the Class is 5.9%
(c) The Partnership has the sole power to vote, and the sole power to
dispose of, all shares set forth in this Item 4(a).
(d) The Partnership has the right to acquire 25,000 additional shares
of stock under an option agreement which is held by Stephen W.
Ritterbush for the benefit of the Partnership.
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PAGE 4 OF 4
ITEM 5
This Item 5 is inapplicable.
ITEM 6
This Item 6 is inapplicable.
ITEM 7
This Item 7 is inapplicable.
ITEM 8
This Item 8 is inapplicable.
ITEM 9
This Item 9 is inapplicable.
ITEM 10
This Item 10 is inapplicable.
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 14, 1997
Fairfax Partners/The Venture Fund of Washington, L.P.
By: American Venture Partners, L.P.,
its General Partner
By: /s/ STEPHEN W. RITTERBUSH
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Stephen W. Ritterbush,
its Managing General Partner
