UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _______)*
Biocircuits Corp.
______________________________________________________
(Name of Issuer)
Common Stock, $0.001 Par Value
______________________________________________________
(Title of Class of Securities)
09058W200
____________________________________
(CUSIP Number)
Check the following box if a fee is being paid with this
statement |x|. (A fee is not required only if the filing person:
(1) has a previous statement on file reporting beneficial
ownership of more than five percent of the class of securities
described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of
such class). (See Rule 13d-7).
*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 the disclosures provided
in a prior cover page.
The information required in the remainder of the 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).
CUSIP No. 09058W200 13G Page 2 of 12
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Special Situations Fund III, L.P. ("The Fund")
F13-3737427
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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
- ----------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER 459,375
SHARES -------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 459,375
REPORTING -------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
459,375
- ----------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- ----------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.0
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IV
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CUSIP No. 09058W200 13G Page 3 of 12
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MGP Advisers Limited Partnership ("MGP)
F13-3263120
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) | |
(b) |X|
- ----------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER None
SHARES -------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 459,375
REPORTING -------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
459,375
- ----------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- ----------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.0
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IA
- ----------------------------------------------------------------
CUSIP No. 09058W200 13G Page 4 of 12
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AWM Investment Company, Inc. ("AWM")
11-2086452
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) | |
(b) |X|
- ----------------------------------------------------------------
(3) SEC USE ONLY
- ----------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER 153,126
SHARES -------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 612,501
REPORTING -------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
612,501
- ----------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- ----------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.0
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IA
- ----------------------------------------------------------------
CUSIP No. 09058W200 13G Page 5 of 12
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Austin W. Marxe
###-##-####
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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
- ----------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER 153,126
SHARES -------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER 459,375
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 612,501
REPORTING -------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
612,501
- ----------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
- ----------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.0
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ----------------------------------------------------------------
Page 6 of 12 Pages
Item 1.
(a) Name of Issuer: Biocircuits Corp.
(b) Address of Issuer's Principal Executive Offices:
1324 Chesapeake Terrace, Sunnyvale, CA 94089
Item 2.
(a)-(c) Name of Person Filing; Address of Principal Business
Office; and Place of Organization: This statement
is filed on behalf of (i) Special Situations Fund
III, L.P., a Delaware limited partnership (the
"Fund"), (ii) MGP Advisers Limited Partnership, a
Delaware Limited Partnership ("MGP"), (iii) AWM
Investment Company, Inc., a Delaware corporation
("AWM") and (iv) Austin W. Marxe. Each of the
foregoing is hereinafter individually referred to as
a "Reporting Person" and collectively as the
"Reporting Persons." The principal office and
business address of the Reporting Persons is 153
East 53 Street, New York, New York 10022. The
business of the Fund is to acquire, purchase, invest
in, sell, convey, transfer, exchange and otherwise
trade in principally equity and equity related
securities.
MGP is a general partner of and investment adviser
to the Fund. MGP is registered as an investment
adviser under the Investment Advisers Act of 1940,
as amended. The principal business of MGP is to act
as a general partner of and investment adviser to
Page 7 of 12 Pages
the Fund. AWM, a Delaware corporation primarily owned by
Austin W. Marxe, serves as the sole general partner of
MGP. AWM is a registered investment adviser under the
Investment Advisers Act of 1940 and also serves as the
investment adviser to, and general partner of, Special
Situations Cayman Fund, L.P., a limited partnership
formed under the laws of the Cayman Islands (the "Cayman
Fund"). Austin W. Marxe is the principal limited partner
of MGP and is the President and Chief Executive Officer
of AWM. Mr. Marxe is also an associated person of MGP
and is principally responsible for the selection,
acquisition and disposition of the portfolio securities
by AWM on behalf of MGP, the Fund and the Cayman Fund.
2(b) Title of Class of Securities: See cover sheets.
2(c) CUSIP Number: See cover sheets.
Item 3. If this statement is filed pursuant to Rule 13d-
1(b), or 13d-2(b), check whether the person filing
is a:
(a) ( ) Broker or Dealer registered under section 15 of the
Act
(b) ( ) Bank as defined in section 3(a) (6) of the Act
(c) ( ) Insurance Company as defined in section 3(a) (19) of
the Act
(d) (x) Investment Company registered under section 8 of the
Investment Company Act
(e) (x) Investment Adviser registered under section 203 of
Page 8 of 12 Pages
the Investment Advisers Act of 1940
(f) ( ) Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund
(g) (x) Parent Holding Company, in accordance with $240.13d-
1 (b) (ii) (G)
(h) ( ) Group, in accordance with $240.13d-1 (b) (1) (ii)
(H)
See Exhibit A attached hereto.
Item 4. Ownership:
(a) Amount Beneficially Owned: 612,501 shares of Common
Stock are beneficially owned by AWM and Austin Marxe. This
amount is composed of: 306,250 shares of common stock owned
by the fund; 153,125 warrants entitling the holder to purchase
153,125 shares of common stock owned by the fund, 102,084
shares of common stock owned by the Cayman fund, and 51,042
warrants entitling the holder to purchase 51,042 shares of
common stock owned by the Cayman Fund. The Fund and MGP
beneficially own 459,375 shares of common stock; of which
306,250 are common shares and 153,125 are warrants.
(b) Percent of Class: 8.0 percent are owned by AWM and
Austin Marxe. 6.0 percent are owned by the Fund and MGP.
(c) Number of Shares as to Which Such Person Has Rights to
Vote and/or Dispose of Securities: The Special Situations Fund
III, L.P. has the sole power to vote or to direct the vote and
to dispose or to direct the disposition of all securities
Page 9 of 12 Pages
reported hereby which are beneficially owned by the Fund. AWM
has the sole power to vote or to direct the vote of securities
reported hereby which are benefically owned by AWM by virtue
of it being the Investment Adviser to the Cayman Fund. Austin
Marxe has sole power to vote or to direct the vote of
securities reported hereby which are beneficially owned by
Austin Marxe by virtue of being the primary owner of and
President and Chief Executive Officer of AWM. Austin Marxe
has shared power to vote or to direct the vote of all
securities owned by Austin Marxe by virtue of being an
Individual General Partner of the Fund. MGP, AWM and Austin
Marxe have the sole power to dispose or to direct the
disposition of all securities reported hereby which are
beneficially owned respectively by MGP, AWM and Austin Marxe.
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 that five percent of the class of
securities, check the following .
Item 6. Ownership of More than Five Percent on Behalf of
Another Person: The Fund and the Cayman Fund as owners of
the securities in question, have the right to receive any
dividends from, or proceeds from the sale of, such securities.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security being Reported on by the Parent
Holding Company: See Exhibit A attached hereto.
Page 10 of 12 Pages
Item 8. Identification and Classification of Members of the
Group: Not applicable.
Item 9. Notices of Dissolution of Group: Not applicable.
Item 10. Certification:
Each of the undersigned certifies that, to the
best of its or his knowledge and belief, the securities
referred to above were acquired in the ordinary course of
business and were acquired for the purpose of and do not
have the effect of changing or influencing the control of
the issuer of such securities and were not acquired in
connection with or as a participant in any transaction
having such purpose or effect.
Page 11 of 12 Pages
SIGNATURE
After reasonable inquiry and to the best of his knowledge
and belief, each of the undersigned certifies that the
information set forth in this statement is true, complete and
correct.
Date: February 4, 1997
SPECIAL SITUATIONS FUND III, L.P.
By:/s/ Austin W. Marxe
Austin W. Marxe
Individual General Partner
MGP ADVISERS LIMITED PARTNERSHIP
By: AWM Investment Company, Inc,
By: /s/ Austin W. Marxe
Austin W. Marxe
President and Chief
Executive Officer
AWM INVESTMENT COMPANY, INC.
By: /s/ Austin W. Marxe
Austin W. Marxe
President and Chief
Executive Officer
/s/ Austin W. Marxe
AUSTIN W. MARXE
Page 12 of 12 Pages
EXHIBIT A
This Exhibit explains the relationship between the
Reporting Persons. AWM is the sole general partner of MGP, a
registered investment adviser under the Investment Advisers
Act of 1940, as amended. MGP is a general partner of and
investment adviser to the Fund. AWM is a registered
investment adviser under the Investment Advisers Act of 1940
and also serves as the general partner of, and investment
adviser to, the Cayman Fund. Austin W. Marxe is the principal
owner and President of AWM.
