U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Currie, James
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(Last) (First) (Middle)
190 South LaSalle Street, Suite 2800
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(Street)
Chicago, Illinois 60603
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
3/1/99
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
AVAX Technologies, Inc. (AVXT)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
|X| Director |_| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
|X| Form filed by One Reporting Person
|_| Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 5) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
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<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct
---------------------- or Exercise (D) or
Date Expira- Number Price of Indirect
1. Title of Derivative Exer- tion of Derivative (I)
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C>
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Common
Option to Purchase 3/1/99(1) 3/1/06 Stock 4,938 $3.375 I
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Series C Convertible Common
Preferred Stock 3/1/99 N/A Stock 1,538,460 N/A I
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Common
Series A Warrant 3/1/99 3/1/04 Stock 153,846 $4.00 I
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Common
Series B Warrant 3/1/99 3/1/04 Stock 153,846 $4.50 I
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</TABLE>
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6. Nature of
Indirect
Beneficial
1. Title of Derivative Ownership
Security (Instr. 4) (Instr. 5)
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By Essex Woodlands Health
Option to Purchase Ventures Fund IV, L.P. 2
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Series C Convertible By Essex Woodlands Health
Preferred Stock Ventures Fund IV, L.P. 2
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By Essex Woodlands Health
Series A Warrant Ventures Fund IV, L.P. 2
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By Essex Woodlands Health
Series B Warrant Ventures Fund IV, L.P. 2
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Explanation of Responses:
(1) The option vests in four installments as follows: March 31, 1999, 495
shares; June 30, 1999 , 1,481 shares; September 30, 1999, 1,481 shares;
and December 31, 1999, 1,481 shares.
(2) Essex Woodlands Health Ventures Fund IV, L.P. (the "Limited Partnership")
owns such securities beneficially. The Common Stock may be acquired upon
the exercise by the Limited Partnership of Options to Purchase Common
Stock, Series C Convertible Preferred Stock and Series A Warrants and
Series B Warrants issued to the Limited Partnership. Essex Woodlands
Health Ventures Fund IV, LLC, of which Mr. Currie is a Managing Director
and Sharheholder, is the General Partner of the Limited Partnership. Mr.
Currie disclaims beneficial ownership of the securities held by the
Limited Partnership, execpt to the extent of his pecuniary interest
therein.
/s/ James Currie 3/10/99
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** James Currie Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
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