SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Amendment No.4)
Under the Securities Exchange Act of 1934
Cypress Bioscience, Inc.
(Name of Issuer)
Common Stock, par value $.02 per share
(Title of Class of Securities)
2 232674 101
(CUSIP Number)
Paramount Capital Asset Management, Inc.
c/o Lindsay A. Rosenwald, M.D.
787 Seventh Avenue
New York, NY 10019
(212) 554-4300
with a copy to:
Monica C. Lord, Esq.
Kramer Levin Naftalis and Frankel
919 3rd Avenue
New York, NY 10021
(212) 715-9100
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)
July 11, 1999
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
Schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following: [ ]
<PAGE>
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paramount Capital Asset Management, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3 below)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 13,027,893
REPORTING --------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------
10 SHARED DISPOSITIVE POWER
13,027,893
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,027,893
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Aries Domestic Fund, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3 below)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 3,855,371
REPORTING --------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------
10 SHARED DISPOSITIVE POWER
3,855,371
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,855,371
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Aries Master Fund
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3 below)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 8,974,664
REPORTING --------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------
10 SHARED DISPOSITIVE POWER
8,974,664
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,974,664
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lindsay A. Rosenwald, M.D.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ] (b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3 below)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 13,027,893
REPORTING --------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------
10 SHARED DISPOSITIVE POWER
13,027,893
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,027,893
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
Item 1. Security and Issuer.
(a) Common Stock, $0.02 par value ("Shares")
Cypress Bioscience, Inc. (the "Issuer") 4350 Executive
Drive, Suite 325 San Diego, CA 92121 (619) 452-2323
Item 2. Identity and Background.
Names of Persons Filing:
(a) This statement is filed on behalf of Paramount Capital Asset
Management, Inc. ("Paramount Capital"), Aries Domestic Fund,
L.P. ("Aries Domestic"), Aries Master Fund, a Cayman Island
exempted company ("Aries Fund") and Lindsay A. Rosenwald,
M.D. ("Dr. Rosenwald" and collectively, "Reporting
Parties"). The shares of Common Stock that may be deemed
beneficially owned by Paramount Capital and Dr. Rosenwald
include 197,858 shares held by Aries Domestic Fund II, L.P.
("Aries II"). Paramount Capital and Dr. Rosenwald disclaim
membership in a group with Aries II, and Paramount Capital
and Dr. Rosenwald disclaim beneficial ownership of the
shares held by Aries II, except to the extent of their
respective pecuniary interests though, if any. See attached
Exhibit A which is a copy of their agreement in writing to
file this statement on behalf of each of them.
(b) Paramount Capital's, Aries Domestic's and Dr. Rosenwald's
business address is 787 Seventh Avenue, 48th Floor, New
York, New York, 10019. The business address for Aries Fund
is c/o MeesPierson (Cayman) Limited, P.O. Box 2003, British
American Centre, Phase 3, Dr. Roy's Drive, George Town,
Grand Cayman.
(c) Dr. Rosenwald is an investment banker, venture capitalist,
fund manager and sole shareholder of Paramount Capital/1/, a
Subchapter S corporation incorporated in Delaware. Paramount
Capital is the General Partner of Aries Domestic/2/, a
limited partnership incorporated in Delaware. Paramount
Capital is the Investment Manager to Aries Fund/3/, a Cayman
Islands exempted company.
(d) Dr. Rosenwald, Paramount Capital, Aries Domestic and Aries
Fund and their respective officers, directors, general
partners, investment managers, or trustees have not, during
the five years prior to the date hereof, been convicted in a
criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) Dr. Rosenwald, Paramount Capital, Aries Domestic and Aries
Fund and their respective officers, directors, general
partners, investment managers, or trustees have not been,
during the five years prior to the date hereof, parties to a
civil proceeding of a judicial or administrative body of
competent jurisdiction, as a result of which such person was
or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities
subject to, Federal or State securities laws or finding any
violation with respect to such laws.
(f) Dr. Rosenwald is a citizen of the United States.
- ----------------------
/1/ Please see attached Exhibit B indicating the executive officers and
directors of Paramount Capital and providing information called for by Items 2-6
of this statement as to said officers and directors. Exhibit B is herein
incorporated by reference.
/2/ Please see attached Exhibit C indicating the general partner of Aries
Domestic and the general partner's executive officers and directors and
providing information called for by Items 2-6 of this statement as to said
general partners, officers and directors. Exhibit C is herein incorporated by
reference
/3/ Please see attached Exhibit D indicating the investment manager of the Aries
Fund and the investment manager's executive officers and directors and providing
information called for by Items 2-6 of this statement as to said investment
manager and officers and directors. Exhibit D is herein incorporated by
reference.
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration.
Since the date of Amendment No. 3 to Schedule 13D ("Amendment
No. 1") which was filed on June 21, 1999, Aries Domestic used
its general funds to make certain open market acquisitions of
the securities of the Issuer and the Aries Fund used its
general funds to make certain open market acquisitions of the
securities of the Issuer as more fully set forth in Item 5.
Aries Domestic Fund II, L.P., a Delaware limited partnership
for which Paramount Capital serves as general partner also
used its general funds to make certain open market
acquisitions of the securities of the Issuer as more fully set
forth in Item 5.
Item 4. Purpose of Transaction.
The Reporting Parties acquired shares of Common Stock of the
Issuer as an investment in the Issuer.
Although the Reporting Parties have not formulated any
definitive plans, they may from time to time acquire, or
dispose of, Common Stock and/or other securities of the Issuer
if and when they deem it appropriate. The Reporting Parties
may formulate other purposes, plans or proposals relating to
any of such securities of the Issuer to the extent deemed
advisable in light of market conditions, investment policies
and other factors.
Except as indicated in this Schedule 13D, the Reporting
Parties currently have no plans or proposals that relate to or
would result in any of the matters described in subparagraphs
(a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) As of August 17, 1999, Dr. Rosenwald and Paramount
Capital, through acquisition of the shares by the
Aries Fund and Aries Domestic, beneficially owned
13,027,893 shares or 28.3% of the Issuer's securities
and Aries Domestic and the Aries Fund beneficially
owned as follows:
Amount Owned
------------
Aries Domestic 3,855,371 Shares
Aries Fund 8,974,664 Shares
(b) Dr. Rosenwald and Paramount Capital share the power
to vote or to direct the vote, to dispose or to
direct the disposition of those shares owned by each
of Aries Domestic and Aries Fund.
(c) The following purchases were made by Aries Domestic
in the open market since the filing of Amendment No.
3:
Date Amount Price Per Share
---- ------ ---------------
06/15/99 2,970 $ 3.272
06/16/99 2,970 $ 3.365
06/16/99 2,970 $ 3.318
06/17/99 2,970 $ 3.380
06/17/99 1,485 $ 3.469
06/18/99 4,455 $ 3.271
06/18/99 11,880 $ 3.100
06/18/99 7,425 $ 3.270
06/21/99 2,970 $ 3.156
06/21/99 3,861 $ 3.219
06/22/99 8,910 $ 3.300
06/22/99 1,480 $ 3.281
06/23/99 1,480 $ 3.225
06/23/99 145 $ 3.125
06/23/99 2,970 $ 3.250
06/24/99 2,970 $ 3.219
06/24/99 5,049 $ 3.195
<PAGE>
06/24/99 1,200 $ 3.250
06/24/99 2,970 $ 3.125
06/25/99 8,910 $ 3.125
06/25/99 1,480 $ 3.125
06/25/99 5,940 $ 3.154
06/29/99 1,480 $ 3.094
06/29/99 1,480 $ 3.154
06/29/99 5,940 $ 3.185
06/30/99 1,450 $ 3.125
06/30/99 1,450 $ 3.248
06/30/99 10,150 $ 3.220
07/02/99 5,000 $ 3.123
07/06/99 5,000 $ 3.123
07/07/99 1,500 $ 3.091
07/08/99 3,000 $ 3.065
07/08/99 4,500 $ 3.090
07/09/99 10,000 $ 3.055
07/09/99 28,000 $ 3.040
07/09/99 5,000 $ 3.000
07/09/99 15,000 $ 3.031
07/09/99 5,000 $ 3.065
07/12/99 1,500 $ 3.000
07/12/99 1,500 $ 3.000
07/13/99 10,000 $ 2.984
07/13/99 25,000 $ 2.920
07/13/99 3,000 $ 3.000
07/19/99 5,000 $ 2.938
07/19/99 4,534 $ 3.000
07/20/99 1,493 $ 3.031
07/20/99 9,371 $ 3.023
07/20/99 1,493 $ 3.000
07/20/99 1,493 $ 2.982
07/21/99 1,493 $ 3.000
07/22/99 1,493 $ 2.875
07/23/99 2,986 $ 2.935
07/23/99 4,479 $ 2.875
07/26/99 1,493 $ 2.940
07/27/99 2,986 $ 2.935
07/28/99 1,493 $ 2.875
07/28/99 2,986 $ 2.938
07/28/99 2,986 $ 2.935
07/29/99 1,493 $ 2.774
07/29/99 8,958 $ 2.894
07/29/99 299 $ 2.719
07/30/99 5,972 $ 2.880
07/30/99 4,479 $ 2.896
08/02/99 1,480 $ 2.685
08/05/99 917 $ 2.750
<PAGE>
08/05/99 1,480 $ 2.746
08/06/99 8,877 $ 2.677
08/06/99 5,918 $ 2.720
08/09/99 1,480 $ 2.630
08/09/99 1,480 $ 2.563
08/10/99 1,480 $ 2.613
08/10/99 2,959 $ 2.611
08/11/99 2,959 $ 2.547
08/11/99 2,959 $ 2.500
08/12/99 1,480 $ 2.790
08/12/99 1,480 $ 2.550
08/13/99 2,959 $ 2.664
08/13/99 1,480 $ 2.688
08/16/99 1,480 $ 2.750
08/16/99 1,480 $ 2.763
08/17/99 1,480 $ 2.810
The following purchases were made by the Aries Fund
in the open market since the filing of Amendment No.
3:
Date Amount Price Per Share
---- ------ ---------------
06/15/99 7,000 $ 3.272
06/16/99 7,000 $ 3.365
06/16/99 7,000 $ 3.318
06/17/99 7,000 $ 3.380
06/17/99 3,500 $ 3.469
06/18/99 10,500 $ 3.271
06/18/99 28,000 $ 3.100
06/18/99 17,500 $ 3.270
06/21/99 7,000 $ 3.156
06/21/99 9,100 $ 3.219
06/22/99 21,000 $ 3.300
06/22/99 3,500 $ 3.281
06/23/99 3,500 $ 3.225
06/23/99 350 $ 3.125
06/23/99 7,000 $ 3.250
06/24/99 11,900 $ 3.195
06/24/99 7,000 $ 3.125
06/24/99 7,000 $ 3.219
06/24/99 2,835 $ 3.250
06/25/99 21,000 $ 3.125
06/25/99 3,500 $ 3.125
06/25/99 14,000 $ 3.154
06/28/99 10,000 $ 3.216
06/28/99 5,000 $ 3.125
06/29/99 3,500 $ 3.094
06/29/99 3,500 $ 3.154
06/29/99 14,000 $ 3.185
06/30/99 3,500 $ 3.125
<PAGE>
06/30/99 3,500 $ 3.248
06/30/99 24,500 $ 3.220
07/07/99 3,450 $ 3.091
07/08/99 6,900 $ 3.065
07/08/99 10,350 $ 3.090
07/12/99 3,450 $ 3.000
07/12/99 3,450 $ 2.934
07/13/99 7,000 $ 3.091
07/20/99 3,411 $ 3.031
07/20/99 617 $ 3.023
07/20/99 3,411 $ 3.000
07/20/99 3,411 $ 2.982
07/21/99 3,411 $ 3.000
07/22/99 3,411 $ 2.875
07/22/99 5,000 $ 2.938
07/23/99 6,882 $ 2.935
07/23/99 10,323 $ 2.875
07/26/99 3,441 $ 2.940
07/27/99 6,882 $ 2.938
07/27/99 6,882 $ 2.935
07/28/99 6,882 $ 2.935
07/28/99 3,441 $ 2.875
07/29/99 3,441 $ 2.774
07/29/99 20,646 $ 2.894
07/29/99 688 $ 2.719
07/30/99 13,764 $ 2.880
07/30/99 10,323 $ 2.896
08/02/99 3,440 $ 2.685
08/05/99 2,133 $ 2.750
08/05/99 3,440 $ 2.746
08/06/99 20,640 $ 2.677
06/06/99 13,760 $ 2.720
08/09/99 3,440 $ 2.630
08/09/99 3,440 $ 2.563
08/10/99 3,440 $ 2.613
08/10/99 6,880 $ 2.611
08/11/99 6,880 $ 2.547
08/11/99 6,880 $ 2.500
08/12/99 3,440 $ 2.790
08/12/99 3,440 $ 2.550
08/13/99 3,440 $ 2.664
08/13/99 6,880 $ 2.688
08/16/99 3,440 $ 2.750
08/16/99 3,440 $ 2.763
08/17/99 3,440 $ 2.810
The following purchases were made by the Aries Domestic Fund
II, L.P. in the open market since the filing of Amendment
No. 3:
<PAGE>
Date Amount Price Per Share
---- ------ ---------------
6/15/99 30 $ 3.272
6/16/99 30 $ 3.365
6/16/99 30 $ 3.318
6/17/99 30 $ 3.380
6/17/99 15 $ 3.469
6/18/99 45 $ 3.271
6/18/99 120 $ 3.100
6/18/99 75 $ 3.270
6/21/99 30 $ 3.156
6/21/99 39 $ 3.219
6/22/99 90 $ 3.300
6/22/99 20 $ 3.281
6/23/99 20 $ 3.225
6/23/99 5 $ 3.125
6/23/99 30 $ 3.250
6/24/99 51 $ 3.195
6/24/99 30 $ 3.125
6/24/99 30 $ 3.219
6/24/99 15 $ 3.250
6/25/99 90 $ 3.125
6/25/99 20 $ 3.125
6/25/99 60 $ 3.154
6/29/99 20 $ 3.094
6/29/99 20 $ 3.154
6/29/99 60 $ 3.185
6/30/99 50 $ 3.125
6/30/99 50 $ 3.248
6/30/99 350 $ 3.220
6/30/99 5,500 $ 3.094
07/01/99 5,000 $ 3.094
07/01/99 5,000 $ 3.245
07/07/99 50 $ 3.091
07/08/99 100 $ 3.065
07/08/99 150 $ 3.090
07/12/99 50 $ 3.000
07/12/99 50 $ 2.934
07/13/99 5,000 $ 2.938
07/14/99 5,000 $ 2.938
07/14/99 15,000 $ 2.988
07/15/99 5,000 $ 2.875
07/15/99 15,000 $ 2.823
07/15/99 20,000 $ 2.830
07/15/99 5,000 $ 3.000
07/16/99 5,000 $ 2.882
07/16/99 20,000 $ 2.950
07/19/99 5,000 $ 2.719
<PAGE>
07/19/99 5,466 $ 3.000
07/20/99 66 $ 3.031
07/20/99 12 $ 3.023
07/20/99 66 $ 3.000
07/20/99 66 $ 2.982
07/21/99 66 $ 3.000
07/22/99 66 $ 2.875
07/23/99 132 $ 2.935
07/23/99 198 $ 2.875
07/26/99 66 $ 2.940
07/27/99 132 $ 2.935
07/27/99 132 $ 2.938
07/28/99 132 $ 2.935
07/28/99 66 $ 2.875
07/29/99 66 $ 2.774
07/29/99 396 $ 2.894
07/29/99 13 $ 2.719
07/30/99 264 $ 2.880
07/30/99 198 $ 2.896
08/02/99 81 $ 2.685
08/02/99 5,000 $ 2.813
08/03/99 10,000 $ 2.991
08/04/99 15,000 $ 2.708
08/04/99 5,000 $ 2.688
08/05/99 1,950 $ 2.750
08/05/99 80 $ 2.746
08/06/99 483 $ 2.677
08/06/99 322 $ 2.720
08/09/99 80 $ 2.630
08/09/99 80 $ 2.563
08/10/99 80 $ 2.613
08/10/99 161 $ 2.611
08/11/99 161 $ 2.547
08/11/99 161 $ 2.500
08/12/99 80 $ 2.790
08/12/99 80 $ 2.550
08/13/99 161 $ 2.664
08/13/99 80 $ 2.688
08/16/99 80 $ 2.750
08/16/99 80 $ 2.763
08/17/99 80 $ 2.810
Other than as set forth herein the Reporting Parties have not
engaged in any transactions in the Common Stock of the Issuer
since the last filing.
(d) & (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with respect to Securities of the Issuer
<PAGE>
Paramount Capital is the investment manager of the Aries Fund
and the General Partner of Aries Domestic and in such
capacities has the authority to make certain investment
decisions on behalf of such entities, including decisions
relating to the securities of the Issuer. In connection with
its investment management duties, Paramount Capital receives
certain management fees and performance allocations from the
Aries Fund and Aries Domestic. Dr. Rosenwald is the sole
shareholder of Paramount Capital. Except as indicated in this
13D and exhibits, there is no contract, arrangement,
understanding or relationship between the Reporting Parties
and any other person, with respect to any securities of the
Issuer.
Item 7. Material to be Filed as Exhibits:
Exhibit A - Copy of an Agreement between Dr. Rosenwald, Paramount Capital,
Aries Domestic and Aries Fund to file this Statement on
Schedule 13D on behalf of each of them.
Exhibit B - List of executive officers and directors of Paramount Capital
and information called for by Items 2-6 of this statement
relating to said officers and directors.
Exhibit C - List of executive officers and directors of Aries Domestic and
information called for by Items 2-6 of this statement relating
to said officers and directors.
Exhibit D - List of executive officers and directors of Aries Fund and
information called for by Items 2-6 of this statement relating
to said officers and directors.
<PAGE>
SIGNATURES
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.
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Dated: August 19, 1999
New York, NY By /s/ Lindsay A. Rosenwald, M.D.
---------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
ARIES DOMESTIC FUND
By Paramount Capital Asset Management,
Inc.
General Partner
Dated: August 19, 1999
New York, NY By /s/ Lindsay A. Rosenwald, M.D.
---------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
THE ARIES MASTER FUND
By Paramount Capital Asset Management,
Inc.
Investment Manager
Dated: August 19, 1999
New York, NY By /s/ Lindsay A. Rosenwald, M.D.
------------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
Dated: August 19, 1999
New York, NY By /s/ Lindsay A. Rosenwald, M.D.
-------------------------------------
Lindsay A. Rosenwald, M.D.
<PAGE>
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13D
The undersigned hereby agrees to jointly prepare and file with
regulatory authorities a Schedule 13D and any future amendments thereto
reporting each of the undersigned's ownership of securities of Cypress
Bioscience, Inc., and hereby affirm that such Schedule 13D is being filed on
behalf of each of the undersigned.
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.,
INC.
Dated: August 19, 1999
New York, NY By /s/ Lindsay A. Rosenwald. M.D.
------------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
ARIES DOMESTIC FUND, L.P.
By Paramount Capital Asset Management,
Inc.
General Partner
Dated: August 19, 1999
New York, NY By /s/ Lindsay A. Rosenwald M.D.
-----------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
THE ARIES MASTER FUND
By Paramount Capital Asset Management,
Inc.
Investment Manager
Dated: August 19, 1999
New York, NY By /s/ Lindsay A. Rosenwald, M.D.
----------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
Dated: August 19, 1999
New York, NY By /s/ Lindsay A. Rosenwald, M.D.
-----------------------------------
Lindsay A. Rosenwald, M.D.
<PAGE>
EXHIBIT B
The name and principal occupation or employment, which in each instance
is with Paramount Capital Asset Management, Inc. ("Paramount Capital") located
at 787 Seventh Avenue, 48th Floor, New York, New York, 10019, of each executive
officer and director of Paramount Capital is as follows:
PRINCIPAL OCCUPATION
NAME OR EMPLOYMENT
---- -------------
Lindsay A. Rosenwald, M.D. Chairman of the Board of Paramount Capital
Asset Management, Inc., Paramount Capital
Investments, LLC and Paramount Capital,
Inc.
Mark C. Rogers, M.D. President of Paramount Capital Asset
Management, Inc., Paramount Capital
Investments, LLC and Paramount Capital,
Inc.
Peter Morgan Kash Director of Paramount Capital Asset
Management, Inc., Senior Managing
Director, Paramount Capital, Inc.
Dr. Yuichi Iwaki Director of Paramount Capital Asset
Management, Inc., Professor, University of
Southern California School of Medicine
Item 2.
During the five years prior to the date hereof, none of the above
persons (to the best of Paramount Capital's knowledge) was convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
was a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction, as a result of which such person was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, Federal or State securities laws or finding
any violation with respect to such laws.
Items 3-6.
Please refer to Items 3-6 herein reporting the beneficial ownership.
<PAGE>
EXHIBIT C
The name and principal occupation or employment, which is located at
787 Seventh Avenue, 48th Floor, New York, New York, 10019, of the General
Partner of Aries Domestic is as follows:
PRINCIPAL OCCUPATION
NAME OR EMPLOYMENT
---- -------------
Paramount Capital Asset Management, General Partner; Investment Manager
Inc.
Exhibit B is hereby incorporated by reference.
Item 2.
During the five years prior to the date hereof, the above person (to
the best of Aries Domestic's knowledge) has not been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or was a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction, as a result of which such person was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, Federal or State securities laws or finding any
violation with respect to such laws.
Items 3-6.
Please refer to Items 3-6 herein reporting the beneficial ownership.
<PAGE>
EXHIBIT D
The name and principal occupation or employment, which in each instance
is with The Aries Master Fund ("Aries Fund") located at 787 Seventh Avenue, 48th
Floor, New York, New York, 10019, of each executive officer and director of
Aries Trust is as follows:
PRINCIPAL OCCUPATION
NAME OR EMPLOYMENT
---- -------------
Paramount Capital Asset Management, Inc. Investment Manager
MeesPierson (Cayman) Management Limited Administrator
Exhibit B is hereby incorporated by reference.
Item 2.
During the five years prior to the date hereof, neither of the above
persons (to the best of Aries Fund's knowledge) have been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
was a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction, as a result of which such person was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, Federal or State securities laws or finding
any violation with respect to such laws.
Items 3-6.
Please refer to Items 3-6 herein reporting the beneficial ownership.
