U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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
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1. Name and Address of Reporting Person*
Paramount Capital Asset Management, Inc.
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(Last) (First) (Middle)
787 Seventh Avenue, 48th Floor
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(Street)
New York, NY 10019
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
February 4, 2000
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Neoprobe Corp. (NEOP)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |X| 10% Owner
|_| Officer (give title below) |_| Other (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)
|_| Form filed by One Reporting Person
|_| Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<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. 5) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
Common Stock 900,000 I By Aries Domestic Fund, L.P.
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Common Stock 2,100,000 I By The Aries Master Fund(1)
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</TABLE>
* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 3
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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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
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Warrant 02/04/00 12/31/2002 Common Stock 2,100,000 $0.74 I By The Aries
Master Fund
(1)
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Warrant 02/04/00 12/31/2002 Common Stock 900,000 $0.74 I By Aries
Domestic
Fund, L.P.
(1)
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</TABLE>
Explanation of Responses:
(1) See Attachment A
/s/ Lindsay A. Rosenwald February 8, 2000
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**Lindsay A. Rosenwald, M.D. Date
Chairman
** 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.
Page 2 of 3
<PAGE>
ATTACHMENT A
Reporting Person: Paramount Capital Asset Management, Inc.
Issuer: Neoprobe Corporation
Paramount Capital Asset Management, Inc. ("PCAM") is the general partner of each
of the Aries Domestic Fund, L.P. ("Aries I") and Aries Domestic Fund II, L.P.
("Aries II"), each a Delaware limited partnership, and also serves as the
investment manager of the Aries Master Fund, a Cayman Island exempted company
(the "Master Fund" and collectively with Aries I and Aries II, the "Aries
Funds"), which also owns securities of the Issuer. Dr. Rosenwald is the chairman
and sole stockholder of PCAM. As a result, Dr. Rosenwald and PCAM may be deemed
to have voting and investment control over the securities of the issuer owned by
the Aries Funds under Rule 16a-(a)(1) of the Securities Exchange Act of 1934.
Dr. Rosenwald and PCAM disclaim beneficial ownership of the securities held by
the Aries Funds, except to the extent of its pecuniary interest therein, if any.
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