------------------------------
OMB APPROVAL
------------------------------
OMB Number 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
------------------------------
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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
================================================================================
1. Name and Address of Reporting Persons
Johnson & Johnson
One Johnson & Johnson Plaza
New Brunswick, New Jersey 08933
INO Acquisition Corp.
c/o Johnson & Johnson
One Johnson & Johnson Plaza
New Brunswick, New Jersey 08933
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
================================================================================
2. Date of Event Requiring Statement (Month/Day/Year)
2/10/97
================================================================================
3. IRS or Social Security Number of Reporting Person (Voluntary)
================================================================================
4. Issuer Name and Ticker or Trading Symbol
Innotech, Inc. (IIII)
================================================================================
5 Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
--------------------------------------------------------------------
================================================================================
6. If Amendment, Date of Original (Month/Day/Year)
<PAGE>
================================================================================
Table I -- Non-Derivative Securities Beneficially Owned
================================================================================
<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. 4) (Instr. 5) (Instr.5)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Common Stock 474,515 D
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stock 3,331,608 I See note on attached page.
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
==================================================================================================================================
Reminder: Report on a separate line for each class (Over)
of securities beneficially owned directly or indirectly. SEC 1473 (8-92)
(Print or Type Responses)
</TABLE>
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
==============================================================================
<TABLE>
<CAPTION>
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 7. Nature of
1. Title of ---------------------- or Exercise (D) or Indirect
Derivative Date Expira- Number Price of Indirect Beneficial
Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Stock Options currently 8/23/05 Common Stock 70,887 $ .079 I See note on
attached page.
- ----------------------------------------------------------------------------------------------------------------------------------
Stock Options currently 8/23/00 Common Stock 583,469 $15.50 I See note on
attached page.
- ----------------------------------------------------------------------------------------------------------------------------------
Stock Options currently 10/16/06 Common Stock 62,500 $ 9.00 I See note on
attached page.
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
==================================================================================================================================
** Intentional misstatements or omissions of /s/ James R. Utaski February 20, 1997
facts constitute Federal Criminal Violations. -------------------------------- ---------------------
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ** Signature of Reporting Person Date
Johnson & Johnson
By James R. Utaski
Note: File three copies of this Form, one of Director
which must be manually signed. If space Vice President
provided is insufficient, See Instruction 6
for procedure.
/s/ James R. Utaski
--------------------------------
** Signature of Reporting Person
INO Acquisition Corp.
Note: File three copies of this Form, one of By James R. Utaski
which must be manually signed. If space President Page 2
provided is insufficient, See Instruction 6 Director SEC 1473 (8-92)
for procedure.
</TABLE>
<PAGE>
Explanation of Responses
On February 10, 1997, in connection with the proposed merger of
INO Acquisition Corp. ("INO") with Innotech, Inc. ("Innotech"), Johnson &
Johnson, INO and certain stockholders of Innotech (the "Selling
Stockholders") entered into a stockholder agreement (the "Stockholder
Agreement"), which provides that each Selling Stockholder will sell, and
INO will purchase, all 3,331,608 outstanding Innotech shares beneficially
owned by such Selling Stockholder, as well as any shares subsequently
acquired by a Selling Stockholder through the exercise of options or
otherwise, at a price per share equal to $13.75, subject to the
satisfaction of certain conditions. The Stockholder Agreement also
provides, among other things, that each Selling Stockholder may, and at
Johnson & Johnson's request shall, tender its shares subject to the
Stockholder Agreement into INO's tender offer for all the outstanding
Innotech shares. Any shares of any Selling Stockholder not purchased in
INO's tender offer will be purchased at the same time as payment is made
pursuant to INO's tender offer. Pursuant to the Stockholder Agreement, each
Selling Stockholder has also executed and delivered a proxy for the benefit
of INO with respect to the shares subject to the Stockholder Agreement
owned by such Selling Shareholder to vote such shares against certain
competing transactions.
As of February 10, 1997, one of the Selling Stockholders owned
879,992 options to purchase shares, 716,856 of which he is entitled to
exercise within 60 days of February 10, 1997 (without giving effect to the
acceleration of options in connection with INO's tender offer and the
merger).
