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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No._______ )1
Collateral Therapeutics, Inc.
(Name of Issuer)
Common Stock, $.001 par value
(Title of Class of Securities)
193921 10 3
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(CUSIP Number)
July 2, 1998
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(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)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
____________
1 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).
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CUSIP NO. 193921 10 3 13G Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Wellcome Trust Limited as Trustee of The Wellcome Trust
98 6038021
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
England
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5 SOLE VOTING POWER
987,500
NUMBER OF
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SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 987,500
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WITH 8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
987,500
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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
9.4%
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12 TYPE OF REPORTING PERSON
OO
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Item 1(a). Name of Issuer: Collateral Therapeutics, Inc. (the "Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices: 9360 Towne
Centre Drive, San Diego, California 92121.
Item 2(a). Name of Person Filing: The Wellcome Trust Limited as Trustee
of The Wellcome Trust (the "Reporting Person").
Item 2(b). Address of Principal Business Office: The principal business
address of the Reporting Person is 183 Euston Road,
London NW1 2BE, England.
Item 2(c). Citizenship: The Reporting Person is a citizen of England.
Item 2(d). Title of Class of Securities: Common Stock, $.001 par value
per share (the "Common Stock").
Item 2(e). CUSIP Number: 193921 10 3.
Item 3. If this statement is 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;
(e) [ ] Investment Adviser 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
3d-1(b)(ii)(G) of the Act;
(h) [ ] A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act;
(i) [ ] A church plan that is excluded from the definition
of an investment company under Section 3(c)(14) of
the Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
of the Act.
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If this statement is filed pursuant to Rule 13d-1(c), check
this box. [ X ]
Item 4. Ownership:
(a) Amount Beneficially Owned: The Reporting Person
beneficially owns 987,500 shares of Common Stock of
the Issuer.
(b) Percent of Class: The Reporting Person beneficially
owns 9.4% of the Issuer's Common Stock.
(c) Number of Shares as to Which Such Person Has:
(i) Sole power to vote or to direct the vote:
987,500 shares of Common Stock.
(ii) Shared power to vote or to direct the vote:
0 shares of Common Stock.
(iii) Sole power to dispose or to direct the
disposition of: 987,500 shares of Common Stock.
(iv) Shared power to dispose or to direct the
disposition of: 0 shares of Common Stock.
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.
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
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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.
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SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: July 10, 1998
THE WELLCOME TRUST LIMITED AS TRUSTEE OF
THE WELLCOME TRUST
By: /s/ Ian MacGregor
Its: Chief Investment Officer
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