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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 13d-2(b)
(AMENDMENT NO. _1_)(1)
CORTECH, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
22051J 10 0
(CUSIP Number)
MARCH 21, 2000
(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)
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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
disclosures provided in a prior cover page.
The information required on 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 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. 22051J 10 0 13G PAGE 2 OF 8 PAGES
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1 NAME OF REPORTING PERSON:
BIOTECHNOLOGY VALUE FUND, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 DELAWARE
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SOLE VOTING POWER
NUMBER 5 0
OF -----------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 6 101,976
OWNED BY EACH -----------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON 7 0
WITH -----------------------------------------------------
SHARED DISPOSITIVE POWER
8 101,976
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
101,976
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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
5.5%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 22051J 10 0 13G PAGE 3 OF 8 PAGES
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1 NAME OF REPORTING PERSON:
BIOTECHNOLOGY VALUE FUND II, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 DELAWARE
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SOLE VOTING POWER
NUMBER 5 0
OF -----------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 6 183,877
OWNED BY EACH -----------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON 7 0
WITH -----------------------------------------------------
SHARED DISPOSITIVE POWER
8 183,877
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
183,877
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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
9.9%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 22051J 10 0 13G PAGE 4 OF 8 PAGES
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1 NAME OF REPORTING PERSON:
BVF PARTNERS L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 DELAWARE
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SOLE VOTING POWER
NUMBER 5 0
OF -----------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 6 295,783
OWNED BY EACH -----------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON 7 0
WITH -----------------------------------------------------
SHARED DISPOSITIVE POWER
8 295,783
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
295,783
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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
16.0%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 22051J 10 0 13G PAGE 5 OF 8 PAGES
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1 NAME OF REPORTING PERSON:
BVF INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 DELAWARE
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SOLE VOTING POWER
NUMBER 5 0
OF -----------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 6 295,783
OWNED BY EACH -----------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON 7 0
WITH -----------------------------------------------------
SHARED DISPOSITIVE POWER
8 295,783
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
295,783
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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
16.0%
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12 TYPE OF REPORTING PERSON*
IA,CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 22051J 10 0 13G PAGE 6 OF 8 PAGES
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ITEM 1(a). NAME OF ISSUER:
Cortech Inc. ("Cortech")
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
6850 North Broadway, Suite G
Denver, CO 80221
ITEM 2(a). NAME OF PERSON FILING:
This Amendment to Schedule 13G is being filed on behalf of the
following persons*:
(i) Biotechnology Value Fund, L.P. ("BVF")
(ii) Biotechnology Value Fund II, L.P. ("BVF2")
(iii) BVF Partners L.P. ("Partners")
(iv) BVF Inc. ("BVF Inc.")
* Attached as Exhibit A is a copy of an agreement among
the persons filing (as specified hereinabove) that
this Amendment to Schedule 13G is being filed on
behalf of each of them.
ITEM 2(a). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The principal business office of the persons
comprising the group filing this Amendment to Schedule 13G is located at 227
West Monroe Street, Suite 4800, Chicago, Illinois, 60606.
ITEM 2(c). CITIZENSHIP:
BVF: a Delaware limited partnership
BVF2: a Delaware limited partnership
Partners: a Delaware limited partnership
BVF Inc.: a Delaware corporation
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $0.002.
ITEM 2(e). CUSIP NUMBER:
22051J 10 0
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CUSIP NO. 22051J 10 0 13G PAGE 7 OF 8 PAGES
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13d-2
(b) OR (c) CHECK WHETHER THE PERSON FILING IS: ONE OF THE
FOLLOWING
Not applicable as this Amendment to Schedule 13G is filed
pursuant to Rule 13d 1(c).
ITEM 4. OWNERSHIP:
The information in items 1 and 5 through 11 on the cover pages
(pp. 2 - 5) on this Amendment to Schedule 13G is hereby incorporated by
reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the beneficial owner
of more than five percent of the class of securities check the following. / /
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
BVF shares voting and dispositive power over the shares of
the common stock it beneficially owns with Partners. BVF2 also shares voting
and dispositive power over the shares of the common stock it beneficially
owns with Partners. Partners and BVF Inc. share voting and dispositive power
over the shares of the common stock they beneficially own with, in addition
to BVF and BVF2, certain managed accounts on whose behalf Partners, as
investment manager, purchased such shares. None of the managed accounts
individually owns more than 5% of the common stock of Cortech.
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 A GROUP:
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable.
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CUSIP NO. 22051J 10 0 13G PAGE 8 OF 8 PAGES
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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 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.
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this Amendment to
Schedule 13G is true, complete and correct.
Dated: March 24, 2000
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BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BIOTECHNOLOGY VALUE FUND II, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
--------------------------
Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
--------------------------
Mark N. Lampert
President
BVF INC.
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
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EXHIBIT 99-A
AGREEMENT REGARDING JOINT FILING
The undersigned, Biotechnology Value Fund, L.P., a Delaware limited
partnership, Biotechnology Value Fund II, L.P., a Delaware limited partnership,
BVF Partners L.P., a Delaware limited partnership, and BVF Inc., a Delaware
corporation, hereby agree and acknowledge that the information required by the
Amendment to Schedule 13G, to which this Agreement is attached as an exhibit, is
filed on behalf of each of them. The undersigned further agree that any further
amendments or supplements thereto shall also be filed on behalf of each of them.
Dated: March 24, 2000
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BIOTECHNOLOGY VALUE FUND II, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BVF INC.
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
