<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULES 13D-1 (b) AND (c)
AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. 1 )*
Virus Research Institute, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.001 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
927920108
------------------------------------------
(CUSIP Number)
* 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 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).
(Continued on following page(s))
Page 1 of 20 Pages
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 2 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| HealthCare Ventures II, L.P.
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware
________|_______________________________________________________________________
| |
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 1,324,975
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 1,324,975
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 1,324,975
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 14.8%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| PN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 3 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| HealthCare Partners II, L.P.
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware
________|_______________________________________________________________________
| |
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 1,324,975
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 1,324,975
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 1,324,975
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 14.8%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| PN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 4 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| HealthCare Ventures III, L.P.
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware
________|_______________________________________________________________________
| |
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 1,174,575
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 1,174,575
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 1,174,575
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 13.1%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| PN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 5 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| HealthCare Partners III, L.P.
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware
________|_______________________________________________________________________
| |
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 1,174,575
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 1,174,575
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 1,174,575
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 13.1%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| PN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 6 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| HealthCare Ventures IV, L.P.
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware
________|_______________________________________________________________________
| |
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 344,928
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 344,928
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 344,928
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 3.9%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| PN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 7 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| HealthCare Partners IV, L.P.
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware
________|_______________________________________________________________________
| |
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 344,928
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 344,928
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 344,928
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 3.9%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| PN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 8 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| James H. Cavanaugh, Ph.D.
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| United States
________|_______________________________________________________________________
| |
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 2,844,478
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 2,844,478
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 2,844,478
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 31.7%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| IN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 9 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| Harold R. Werner
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| United States
________|_______________________________________________________________________
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 2,844,478
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 2,844,478
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 2,844,478
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 31.7%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| IN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 10 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| William Crouse
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| United States
________|_______________________________________________________________________
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY | | 2,844,478
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 2,844,478
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 2,844,478
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 31.7%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| IN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 11 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| John W. Littlechild
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| United States
________|_______________________________________________________________________
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY 2,844,478
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 2,844,478
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 2,844,478
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 31.7%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| IN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 12 of 20 Pages
________________________________________________________________________________
1 | NAME OF REPORTING PERSON
| S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
| Mark Leschly
________|_______________________________________________________________________
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
| (b) [ ]
________|_______________________________________________________________________
3 | SEC USE ONLY
________|_______________________________________________________________________
4 | CITIZENSHIP OR PLACE OF ORGANIZATION
| United States
________|_______________________________________________________________________
| 5 | SOLE VOTING POWER
| |
|_____|__________________________________________________________
NUMBER OF | |
SHARES | 6 | SHARED VOTING POWER
BENEFICIALLY 1,519,503
OWNED BY |_____|__________________________________________________________
EACH | |
REPORTING | 7 | SOLE DISPOSITIVE POWER
PERSON WITH | |
|_____|__________________________________________________________
| |
| 8 | SHARED DISPOSITIVE POWER
| | 1,519,503
_______________|_____|__________________________________________________________
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 1,519,503
_______|________________________________________________________________________
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
| CERTAIN SHARES* [ ]
_______|________________________________________________________________________
11 | PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 16.9%
_______|________________________________________________________________________
12 | TYPE OF REPORTING PERSON*
| IN
_______|________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 13 of 20 Pages
________________________________________________________________________________
Item 1.
(a) Name of Issuer:
Virus Research Institute, Inc.
(b) Address of Issuer's Principal Executive Offices:
61 Moulton Street
Cambridge, Massachusetts 02138
Item 2.
(a) Name of Person Filing:
HealthCare Ventures II, L.P. ("HCV II"), HealthCare Partners
II, L.P. ("HCP II"), HealthCare Ventures III, L.P. ("HCV
III"), HealthCare Partners III, L.P. ("HCP III"), HealthCare
Ventures IV, L.P. ("HCV IV"), HealthCare Partners IV, L.P.
("HCP IV"), Dr. Cavanaugh and Messrs. Werner, Littlechild,
Crouse and Leschly(1). See attached Exhibit A which is a copy
of their agreement in writing to file this statement on behalf
of each of them.(2)
(b) Address of Principal Business Office or, if none, Residence:
The business address for HCV II, HCP II, HCV III, HCP III, HCV
IV, HCP IV, Dr. Cavanaugh and Messrs. Werner and Crouse is 44
Nassau Street, Princeton, New Jersey 08542. The business
address for Messrs. Littlechild and Leschly is One Kendall
Square, Building 300, Cambridge, Massachusetts 02139.
(c) Citizenship:
HCV II, HCP II, HCV III, HCP III, HCV IV and HCP IV are
limited partnerships organized under the laws of the State of
Delaware. Dr. Cavanaugh and Messrs. Werner, Littlechild,
Crouse and Leschly are each United States citizens.
- --------
(1) Mr. Leschly became a general partner of each of HCP III and HCP IV
effective January 1, 1998.
(2) Dr. Cavanaugh and Messrs. Werner, Littlechild and Crouse are general
partners of HCP II, which is the general partner of HCV II, and Dr.
Cavanaugh and Messrs. Werner, Littlechild, Crouse and Leschly are
general partners of each of HCP III and HCP IV, which is the general
partner of each of HCV III and HCV IV, respectively, the record holder
of Issuer's securities.
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 14 of 20 Pages
________________________________________________________________________________
(d) Title of Class of Securities:
Common Stock, par value $.001 ("Shares").
(e) CUSIP Number:
927920108
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or
13d-2(b), check whether the person filing is a:
Inapplicable.
Item 4. Ownership.
(a) Amount Beneficially Owned:
As of December 31, 1997: HCV II and HCP II beneficially owned
1,324,975 Shares of Issuer's Common Stock; HCV III and HCP III
beneficially owned 1,174,575 Shares of Issuer's Securities,
consisting of 1,131,595 Shares of Issuer's Common Stock and
immediately exercisable warrants to purchase 42,980 Shares of
Issuer's Common Stock; HCV IV and HCP IV beneficially owned
344,928 Shares of Issuer's Securities, consisting of 332,306
Shares of Issuer's Common Stock and immediately exercisable
warrants to purchase 12,622 Shares of Issuer's Common Stock;
Dr. Cavanaugh and Messrs. Werner, Littlechild and Crouse
beneficially owned 2,844,478 Shares of Issuer's Securities,
consisting of 2,788,876 Shares of Issuer's Common Stock and
immediately exercisable warrants to purchase 55,602 Shares of
Issuer's Common Stock; and Mr. Leschly beneficially owned
1,519,503 Shares of Issuer's Securities, consisting of
1,463,901 Shares of Issuer's Common Stock and immediately
exercisable warrants to purchase 55,602 Shares of Issuer's
Common Stock.
(b) Percent of Class:
As of December 31, 1997: the 1,324,975 Shares of Issuer's
Securities beneficially owned by HCV II and HCP II constitute
14.8% of Issuer's Shares outstanding; the 1,174,575 Shares of
Issuer's Securities beneficially owned by HCV III and HCP III
constitute 13.1% of the Issuer's Shares outstanding; the
344,928 Shares of Issuer's Securities beneficially owned by
HCV IV and HCP IV consisted 3.9% of Issuer's Shares
outstanding; the 2,844,478 Shares of Issuer's Securities
beneficially owned by Dr. Cavanaugh and Messrs. Werner,
Littlechild and Crouse constitute 31.7% of Issuer's Shares
outstanding; and the 1,519,503 Shares of Issuer's Securities
beneficially owned by Mr. Leschly constitute 16.9% of Issuer's
Shares outstanding.
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 15 of 20 Pages
________________________________________________________________________________
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
Inapplicable
(ii) shared power to vote or to direct the vote: HCV II,
HCP II, Dr. Cavanaugh and Messrs. Werner,
Littlechild, and Crouse share the power to vote or
direct the vote of those shares owned by HCV II.
HCV III, HCP III, Dr. Cavanaugh and Messrs. Werner,
Littlechild, Crouse and Leschly share the power to
vote or direct the vote of those shares owned by HCV
III.
HCV IV, HCP IV, Dr. Cavanaugh and Messrs. Werner,
Littlechild, Crouse and Leschly share the power to
vote or direct the vote of those shares owned by HCV
IV.
(iii) sole power to dispose or to direct the disposition
of:
Inapplicable
(iv) shared power to dispose of or to direct the
disposition of: HCV II, HCP II, Dr. Cavanaugh and
Messrs. Werner, Littlechild and Crouse share the
power to dispose of or direct the disposition of
those shares owned by HCV II.
HCV III, HCP III, Dr. Cavanaugh and Messrs. Werner,
Littlechild, Crouse and Leschly share the power to
dispose of or direct the disposition of those shares
owned by HCV III.
HCV IV, HCP IV, Dr. Cavanaugh and Messrs. Werner,
Littlechild, Crouse and Leschly share the power to
dispose of or direct the disposition of those shares
owned by HCV IV.
Item 5. Ownership of Five Percent or less of a Class:
Inapplicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
Inapplicable.
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 16 of 20 Pages
________________________________________________________________________________
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
Inapplicable.
Item 8. Identification and Classification of Members of the Group:
Inapplicable.
Item 9. Notice of Dissolution of Group:
Inapplicable.
Item 10. Certification:
Inapplicable.
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 17 of 20 Pages
________________________________________________________________________________
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: February 10, 1998 HealthCare Ventures II, L.P.,
Princeton, New Jersey by its General Partner,
HealthCare Partners II, L.P.
By: /s/ Jeffrey Steinberg
-------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Partners II, L.P.
Princeton, New Jersey
By: /s/ Jeffrey Steinberg
-------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Ventures III, L.P.,
Princeton, New Jersey by its General Partner,
HealthCare Partners III, L.P.
By: /s/ Jeffrey Steinberg
-------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Partners III, L.P.
Princeton, New Jersey
By: /s/ Jeffrey Steinberg
-------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Ventures IV, L.P.,
Princeton, New Jersey by its General Partner,
HealthCare Partners IV, L.P.
By: /s/ Jeffrey Steinberg
-------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Partners IV, L.P.
Princeton, New Jersey
By: /s/ Jeffrey Steinberg
-------------------------------
A General Partner
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Princeton, New Jersey ------------------------------
James H. Cavanaugh, Ph.D.
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Princeton, New Jersey ------------------------------
Harold R. Werner
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 18 of 20 Pages
________________________________________________________________________________
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Cambridge, Massachusetts -------------------------------
John W. Littlechild
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Princeton, New Jersey -------------------------------
William Crouse
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Cambridge, Massachusetts -------------------------------
Mark Leschly
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 19 of 20 Pages
________________________________________________________________________________
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13G
The undersigned hereby agree to jointly prepare and file with
regulatory authorities a Schedule 13G and any future amendments thereto
reporting each of the undersigned's ownership of securities of Virus Research
Institute, Inc. and hereby affirm that such Schedule 13G is being filed on
behalf of each of the undersigned.
Dated: February 10, 1998 HealthCare Ventures II, L.P.,
Princeton, New Jersey by its General Partner,
HealthCare Partners II, L.P.
By: /s/ Jeffrey Steinberg
------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Partners II, L.P.
Princeton, New Jersey
By: /s/ Jeffrey Steinberg
------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Ventures III, L.P.,
Princeton, New Jersey by its General Partner,
HealthCare Partners III, L.P.
By: /s/ Jeffrey Steinberg
------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Partners III, L.P.
Princeton, New Jersey
By: /s/ Jeffrey Steinberg
------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Ventures IV, L.P.,
Princeton, New Jersey by its General Partner,
HealthCare Partners IV, L.P.
By: /s/ Jeffrey Steinberg
------------------------------
A General Partner
Dated: February 10, 1998 HealthCare Partners IV, L.P.
Princeton, New Jersey
By: /s/ Jeffrey Steinberg
------------------------------
A General Partner
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Princeton, New Jersey ------------------------------
James H. Cavanaugh, Ph.D.
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Princeton, New Jersey -------------------------------
Harold R. Werner
<PAGE>
________________________________________________________________________________
CUSIP No. 927920108 13G Page 20 of 20 Pages
________________________________________________________________________________
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Cambridge, Massachusetts -------------------------------
John W. Littlechild
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Princeton, New Jersey -------------------------------
William Crouse
Dated: February 10, 1998 By: /s/ Jeffrey Steinberg
Cambridge, Massachusetts -------------------------------
John W. Littlechild
