UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
The Aries Trust
c/o Paramount Asset Management. inc.
787 Seventh Avenue, 44th Floor
New York, NY 10019
2. Issuer Name and Ticker or Trading Symbol
REPLIGEN CORP
RGEN
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
06/30/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
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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<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
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Common Stock |06/02/|P | |6,500 |A |$1.188 |1,454,100 |D | |
|97 | | | | | | | | |
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Common Stock |06/03/|P | |6,500 |A |$1.250 |1,454,100 |D | |
|97 | | | | | | | | |
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Common Stock |06/24/|P | |6,500 |A |$1.219 |1,454,100 |D | |
|97 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |06/27/|P | |6,500 |A |$1.1562 |1,454,100 |D | |
|97 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |06/30/|P | |10,000 |A |$1.1562 |1,454,100 |D | |
|97 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |06/30/|P | |10,000 |A |$1.1708 |1,454,100 |D | |
|97 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
* See Attachment
SIGNATURE OF REPORTING PERSON
/s/ Lindsay A. Rosenwald, M.D., President
Paramount Capital Asset Management, Inc., Investment Manager
The Aries Trust
DATE
07/10/97
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ATTACHMENT TO FORM 4
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Reporting Person: The Aries Trust
Issuer: Repligen Corporation (RGEN)
Statement For: June/1997
Paramount Capital Asset Management, Inc. ("Paramount"), the Investment
Manager to The Aries Trust (the "Trust"), is also the General Partner of the
Aries Domestic Fund (the "Partnership"), a Delaware limited partnership, which
also owns securities of the Issuer. Lindsay A. Rosenwald, M.D., is the sole
shareholder of Paramount. Paramount and Dr. Rosenwald disclaim beneficial
ownership of the securities held by the Partnership and the Trust, except to the
extent of their pecuniary interest therein.
