UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Aronex Pharmaceuticals, Inc.
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(Name of Issuer)
Common Stock, Par Value $.001 Per Share
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(Title of Class of Securities)
042666 20 6
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(CUSIP Number)
Martin P. Sutter
Essex Woodlands Health Ventures IV, L.L.C.
2170 Buckthorne Place, Suite 170
The Woodlands, Texas 77380
(281) 367-9999
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
February 23, 1999
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(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 box
/_/.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
*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 ("Act") 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).
<PAGE>
SCHEDULE 13D
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CUSIP No. 042666 20 6 Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Essex Woodlands Health Ventures IV, LLC
Federal ID number: 76-0573196
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) /_/
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,285,715 shares of Common Stock (1)
REPORTING ------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,285,715 shares of Common Stock (1)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,285,715 shares of Common Stock (1)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/_/
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.2%
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14 TYPE OF REPORTING PERSON
OO; Limited Liability Company
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 2,285,715 shares of Common Stock owned by Essex Woodlands Health
Ventures Fund IV, L.P., of which Essex Woodlands Health Ventures IV, LLC is
the general partner.
<PAGE>
SCHEDULE 13D
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CUSIP No. 042666 20 6 Page 3 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Essex Woodlands Health Ventures Fund IV, L.P.
Federal ID number: 76-0573196
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/
(b) /x/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) /_/
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 2,285,715 shares of Common Stock
REPORTING ------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,285,715 shares of Common Stock
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,285,715 shares of Common Stock
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/_/
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.2%
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14 TYPE OF REPORTING PERSON
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Page4 of 8 Pages
ORIGINAL REPORT ON SCHEDULE 13D
Item 1. Security and Issuer
This statement relates to the shares of common stock, par value $.001
("Common Stock"), of Aronex Pharmaceuticals, Inc., a Delaware corporation (the
"Corporation"), which has its principal executive offices at 8707 Technology
Forest Place, The Woodlands, Texas 77381-1191.
Item 2. Identity and Background
(a) This statement is being filed jointly by Essex Woodlands Health
Ventures IV, LLC, a Delaware limited liability company and Essex Woodlands
Health Ventures Fund IV, L.P., a Delaware limited partnership ("Fund IV").
Information provided in this Schedule 13D is as of the date of filing unless
otherwise specified below.
(b) Essex Woodlands Health Ventures IV, LLC. The business address of
Essex Woodlands Health Ventures IV, LLC is 2170 Buckthorne Place, Suite 170, The
Woodlands, Texas 77380. Essex Woodlands Health Ventures IV, LLC is engaged in
the business of managing an investment portfolio.
Information concerning each controlling persons of Essex Woodlands Health
Ventures IV, LLC, which information is disclosed in response to Item 2 of
General Instruction C to Schedule 13D, is attached hereto as Appendix A.
(c) Essex Woodlands Health Ventures Fund IV, L.P. The business address of
Fund IV is 2170 Buckthorne Place, Suite 170, The Woodlands, Texas 77380. Fund IV
is engaged in the business of investing in healthcare and biotechnology
companies. Essex Woodlands Health Ventures IV, LLC is the general partner of
Fund IV.
(d) During the last five years, neither Essex Woodlands Health Ventures
IV, LLC or Fund IV, nor any of the individuals listed on Appendix A, have been
convicted in any criminal proceeding (excluding traffic violations and similar
misdemeanors).
(e) During the last five years, neither Essex Woodlands Health Ventures
IV, LLC or Fund IV, nor any of the individuals listed on Appendix A, have been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding 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.
Item 3. Source and Amount of Funds or Other Consideration
Essex Woodlands Health Ventures IV, LLC and Fund IV acquired beneficial
ownership of 2,285,715 shares of Common Stock on Februrary 23, 1999 for $2.1875
per share in connection with the Corporation's registered public offering of an
aggregate of 6,000,000 shares of Common Stock.
<PAGE>
Page 5 of 8 Pages
Item 4. Purpose of Transaction
Essex Woodlands Health Ventures IV, LLC and Fund IV acquired the shares
of Common Stock reported herein solely for the purpose of investment by Fund IV.
Essex Woodlands Health Ventures IV, LLC and Fund IV may make additional
purchases of shares of Common Stock either in the open market or in private
transactions depending on the Corporation's business, prospects and financial
condition, the market for the Common Stock, general economic conditions, money
and stock market conditions and other future developments.
Item 5. Interest in Securities of the Company
There were 22,415,664 shares of Common Stock outstanding as of February
23, 1999, the closing date of the Corporation's public offering of 6,000,000
shares of Common Stock.
Essex Woodlands Health Ventures IV, LLC and Fund IV are deemed to be the
beneficial owners of the 2,285,715 shares of Common Stock owned directly by Fund
IV, which shares constitute approximately 10.2% of the total issued and
outstanding Common Stock as of February 23, 1999.
(a) The number of shares of Common Stock as to which there is sole power
to vote or to direct the vote, sole power to dispose or to direct the
disposition, or shared power to dispose or direct the disposition for Essex
Woodlands Health Ventures IV, LLC and Fund IV is set forth on the cover pages of
this Statement on Schedule 13D, and such information is incorporated herein by
reference.
(b) There have been no reportable transactions with respect to the Common
Stock within the last 60 days by Essex Woodlands Health Ventures IV, LLC and
Fund IV except for the acquisition of beneficial ownership of Common Stock being
reported on this Schedule 13D.
(c) Essex Woodlands Health Ventures IV, LLC and Fund IV have the right to
receive distributions from, and the proceeds from the sale of, the respective
shares of Common Stock reported as owned directly by such persons on the cover
pages of this Statement on Schedule 13D.
(d) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
respect to Securities of the Company
There are no contracts, arrangements, understandings or relationships
among Essex Woodlands Health Ventures IV, LLC and Fund IV and between Essex
Woodlands Health Ventures IV, LLC and Fund IV and any person with respect to any
securities of Aronex Pharmaceuticals, Inc.
Item 7. Material to be filed as Exhibits
There are no written agreements, contracts, arrangements, understandings,
plans or proposals relating to (i) the borrowing of funds to finance the
purchase of shares of Common Stock, (ii) the acquisition of issuer control,
liquidation, sale of assets, merger, or change in business or corporate
structure and (iii) the transfer or voting of the shares of Common Stock,
finder's fees, joint ventures, options, puts, calls, guarantees of loans,
guarantees against loss or of profit, or the giving or withholding of an proxy.
Exhibit 99.1 -- Agreement pursuant to Rule 13d-1(k)(1)(iii)
<PAGE>
Page 6 of 8 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, each
of the undersigned certify that the information set forth in this statement is
true, complete and correct.
Date: March 5, 1999
ESSEX WOODLANDS HEALTH VENTURES IV, LLC
By: /s/ Martin P. Sutter
-------------------------------------------
Name: Martin P. Sutter
Title: Managing Director
ESSEX WOODLANDS HEALTH VENTURES FUND IV, L.P.
By: Essex Woodlands Health Ventures IV, LLC,
its General Partner
By: /s/ Martin P. Sutter
----------------------------------
Name: Martin P. Sutter
Title: Managing Director
<PAGE>
Page 7 of 8 Pages
APPENDIX A
Essex Woodlands Health Ventures IV, L.L.C.
Executive Officers
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James L. Currie Managing Director
Marc S. Sandroff Managing Director
Martin P. Sutter Managing Director
The address of James L. Currie is 190 South LaSalle Street, Suite 2800, Chicago,
IL 60603.
The address of Marc S. Sandroff is 20 East Cedar, Atp. #14C, Chicago, IL 60611.
The address of Martin P. Sutter is c/o Essex Woodlands Health Ventures IV,
L.L.C., 2170 Buckthorne Place, Suite 170, The Woodlands, Texas 77380.
Each of the executive offices above are citizens of the United States.
Although each of the Managing Directors above owns a one-third interest in Essex
Woodlands Health Ventures IV, L.L.C., none of such persons individually control
Essex Woodlands Health Ventures IV, L.L.C.
<PAGE>
Page 8 of 8 Pages
EXHIBIT 99.1
Pursuant to Rule 13d-1(k)(1)(iii) under Regulation 13D-G of the General
Rules and Regulations of the Securities and Exchange Commission under the
Securities Exchange Act of 1934, as amended, each of the undersigned hereby
agrees that the Schedule 13D to which this Agreement is attached, and any
amendments thereto, may be filed on behalf of such person.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
Dated: March 5, 1999
ESSEX WOODLANDS HEALTH VENTURES IV, LLC
By: /s/ Martin P. Sutter
------------------------------------
Name: Martin P. Sutter
Title: Managing Director
ESSEX WOODLANDS HEALTH VENTURES FUND IV, L.P.
By: Essex Woodlands Health Ventures IV, LLC,
its General Partner
By: /s/ Martin P. Sutter
-------------------------------------
Name: Martin P. Sutter
Title: Managing Director
