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| FORM 3 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
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
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1. Name and Address of Reporting Person
Cell Genesys, Inc.
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(Last) (First) (Middle)
342 Lakeside Drive
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(Street)
Foster City, California 94404
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year) 01/12/97
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3. IRS or Social Security Number of Reporting Person (Voluntary) 94-3061375
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4. Issuer Name and Ticker or Trading Symbol Somatix Therapy Corporation (SOMA)
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5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ ] Officer [X] 10% Owner [ ] Other
(give title below) (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securities Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
(Print or Type Responses)
Page 1 of 3 pages
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FORM 3 (continued)
TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of In-
Security (Instr. 4) cisable and Underlying Derivative Security or Form of direct Bene-
Expiration (Instr. 4) Exercise Derivative ficial
Date Price Security: Ownership
(Month/Day/ of Direct (D) (Instr. 5)
Year) Derivative or In-
---------------------------------------------------- Security direct (I)
Date Expira- Amount or (Instr. 5)
Exer- tion Title Number of
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
(1) (2) (3) Common stock, par
value $.01 per share 5,441,480 $3.51 D
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</TABLE>
Explanation of Responses: Please see attached.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
CELL GENESYS, INC.
By: /s/ Kathleen Sereda Glaub 02/28/97
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Kathleen Sereda Glaub Date
Senior Vice President
Chief Financial Officer
and Secretary
**Signature of Reporting Person
Page 2 of 3 pages
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ATTACHMENT TO INITIAL STATEMENT OF BENEFICIAL OWNERSHIP
OF SECURITIES BY CELL GENESYS, INC. DATED FEBRUARY 28, 1997
EXPLANATION OF RESPONSES:
(1) Pursuant to the stock option agreement, dated as of January 12, 1997 (the
"Stock Option Agreement"), between Somatix Therapy Corporation, a
corporation organized and existing under the laws of the State of Delaware
("Somatix"), as grantor, and Cell Genesys, Inc., a corporation organized
and existing under the laws of the State of Delaware ("Cell Genesys"), as
grantee, Somatix granted to Cell Genesys an option (the "Stock Option") to
purchase 5,441,480 newly issued shares (the "Option Shares") of common
stock, par value $.01 per share (the "Common Stock"), at a purchase price
of $3.51 per share. The Stock Option was granted in connection with the
execution of the agreement and plan of merger and reorganization, dated as
of January 12, 1997 (the "Merger Agreement"), among Cell Genesys, S Merger
Corp., a corporation organized and existing under the laws of the State of
Delaware ("Merger Sub") and a direct wholly owned subsidiary of Cell
Genesys, and Somatix, pursuant to which, among other things, Merger Sub
will be merged (the "Merger") with and into Somatix and Somatix will become
a wholly owned subsidiary of Cell Genesys.
As a result of the Stock Option Agreement and the Stock Option granted
thereunder, Cell Genesys may be deemed to be the beneficial owner of
5,441,480 shares of Common Stock. Based on 27,344,121 shares of Common
Stock outstanding as of January 6, 1997, Cell Genesys' percentage interest
in the Common Stock would be approximately 16.6 percent after exercise of
the Stock Option in full. In the event that the Stock Option becomes
exercisable as described below, and Cell Genesys elects to exercise such
option and purchase the Option Shares, Cell Genesys would possess sole
voting and dispositive power with respect to such shares.
The shares of Common Stock described herein are subject to the Stock
Option, which is not currently exercisable. Nothing herein shall be deemed
to be an admission by Cell Genesys as to the beneficial ownership of any
shares of Common Stock, and Cell Genesys expressly disclaims beneficial
ownership of all shares of Common Stock issuable upon exercise of the Stock
Option.
(2) Cell Genesys may exercise the Stock Option, in whole or in part, at any
time or from time to time after the occurrence of any event or circumstance
which obligates Somatix to pay to Cell Genesys any fee or expenses upon
termination of the Merger Agreement and prior to the first to occur of any
of (i) the effective time of the Merger; (ii) the termination of the Stock
Option Agreement pursuant to its terms; or (iii) the date which is 90 days
after the occurrence of any event triggering Cell Genesys' right to
exercise the Stock Option.
(3) The Stock Option Agreement will terminate by its terms on February 12,
1998.
Page 3 of 3 pages
