SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Celtrix Pharmaceuticals, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
151186103
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(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
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).
(Continued on following pages)
Page 1 of 13 Pages
Exhibit Index Contained on Page 12
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CUSIP NO. 151186103 13 G Page 2 of 13 Pages
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1 NAME OF REPORTING
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Biotechnology Development Fund, L.P. ("BDF")
Tax ID Number: 94-3258409
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 1,730,516 shares, except that BioAsia, the general
BENEFICIALLY partner of BDF, and Kung, Leung and Engleman,
OWNED BY EACH REPORTING members of BioAsia may be deemed to have
PERSON shared power to vote these shares.
WITH
--- -------------------------------------------------
6 SHARED VOTING POWER
2,730,516 shares. See response to Row 5. The
2,730,516 shares includes 1,000,000 shares which
BDF may be deemed to have shared power to vote
through a 24.8% limited partnership interest in
Biotechnology Development Fund III, L.P. ("BDF
III"). BDF III directly owns 1,000,000 shares
of the issuer which represents 4.0% of the
outstanding shares of the class.
--- -------------------------------------------------
7 SOLE DISPOSITIVE POWER
1,730,516 shares, except that BioAsia, the
general partner of BDF, and Kung, Leung and
Engleman, members of BioAsia may be deemed to
have shared power to dispose of these shares.
--- -------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,730,516 shares. See response to Row 5. The
2,730,516 shares includes 1,000,000 shares which
BDF may be deemed to have shared power to dispose
to dispose of an additional 1,000,000 shares
through a 24.8% limited partnership interest in
BDF III.
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
2,730,516 shares. The 2,730,516 shares includes beneficial
ownership of a prorata share of an additional 1,000,000 shares
through a 24.8% limited partnership interest in BDF III.
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES*
N/A [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.9%
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12 TYPE OF REPORTING PERSON*
PN
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<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
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<TABLE>
<CAPTION>
<S> <C> <C>
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CUSIP NO. 151186103 13 G Page 2 of 13 Pages
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1 NAME OF REPORTING
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Biotechnology Development Fund III, L.P. ("BDF III")
Tax ID Number: 77-0474834
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 1,000,000 shares, except that BDF, BioAsia, the
BENEFICIALLY general partner of BDF III and BDF, and Kung,
OWNED BY EACH REPORTING Leung and Engleman, members of BioAsia may be
PERSON deemed to have shared power to vote these shares.
WITH
--- --------------------------------------------------
6 SHARED VOTING POWER
0
--- --------------------------------------------------
7 SOLE DISPOSITIVE POWER
1,000,000 shares, except that BDF, BioAsia, the
general partner of BDF III and BDF, and Kung,
Leung and Engleman, members of BioAsia may be
deemed to have shared power to dispose of these
shares.
--- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 1,000,000 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* N/A [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.0%
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12 TYPE OF REPORTING PERSON*
PN
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<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
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<CAPTION>
<S> <C> <C>
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CUSIP NO. 151186103 13 G Page 2 of 13 Pages
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1 NAME OF REPORTING
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BioAsia Investments, LLC ("BioAsia")
Tax ID Number: 94-3258407
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON
WITH
--- --------------------------------------------------
6 SHARED VOTING POWER
2,730,516 shares, 1,730,516 of which are directly
owned by BDF and 1,000,000 of which are owned
directly by BDF III. BioAsia is the general
partner of BDF and BDF III and may be deemed to
have shared power to vote these shares.
--- --------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
--- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,730,516 shares, 1,730,516 of which are directly
owned by BDF and 1,000,000 of which are owned by
BDF III. BioAsia is the general partner of BDF
and BDF III and may be deemed to have shared power
to dispose of these shares.
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,730,516 shares.
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* N/A [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.9%
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12 TYPE OF REPORTING PERSON*
PN
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<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
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<S> <C> <C>
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CUSIP NO. 151186103 13 G Page 2 of 13 Pages
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1 NAME OF REPORTING
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frank Kung ("Kung")
Tax ID Number: ###-##-####
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON
WITH
--- --------------------------------------------------
6 SHARED VOTING POWER
2,730,516 shares, 1,730,516 of which are directly
owned by BDF and 1,000,000 of which are owned
directly by BDF III. Kung is a member of BioAsia
and may be deemed to have shared power to vote
these shares.
--- --------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
--- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,730,516 shares, 1,730,516 of which are directly
owned by BDF and 1,000,000 of which are owned by
BDF III. Kung is a member of BioAsia and may be
deemed to have shared power to dispose of these
shares.
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,730,516 shares.
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* N/A [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.9%
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12 TYPE OF REPORTING PERSON*
IN
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<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
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<TABLE>
<CAPTION>
<S> <C> <C>
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CUSIP NO. 151186103 13 G Page 2 of 13 Pages
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1 NAME OF REPORTING
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Anselm Leung ("Leung")
Tax ID Number: ###-##-####
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON
WITH
--- --------------------------------------------------
6 SHARED VOTING POWER
2,730,516 shares, 1,730,516 of which are directly
owned by BDF and 1,000,000 of which are owned
directly by BDF III. Leung is a member of BioAsia
and may be deemed to have shared power to vote
these shares.
--- --------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
--- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,730,516 shares, 1,730,516 of which are directly
owned by BDF and 1,000,000 of which are owned by
BDF III. Leung is a member of BioAsia and may be
deemed to have shared power to dispose of these
shares.
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,730,516 shares.
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* N/A [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.9%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
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<TABLE>
<CAPTION>
<S> <C> <C>
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CUSIP NO. 151186103 13 G Page 2 of 13 Pages
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1 NAME OF REPORTING
SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edgar Engleman ("Engleman")
Tax ID Number: ###-##-####
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON
WITH
--- --------------------------------------------------
6 SHARED VOTING POWER
2,730,516 shares, 1,730,516 of which are directly
owned by BDF and 1,000,000 of which are owned
directly by BDF III. Engleman is a member of
BioAsia and may be deemed to have shared power to
vote these shares.
--- --------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
--- --------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,730,516 shares, 1,730,516 of which are directly
owned by BDF and 1,000,000 of which are owned by
BDF III. Engleman is a member of BioAsia and may
be deemed to have shared power to dispose of these
shares.
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,730,516 shares.
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* N/A [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.9%
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12 TYPE OF REPORTING PERSON*
IN
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<FN>
* SEE INSTRUCTIONS BEFORE FILLING OUT!
</FN>
</TABLE>
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Page 8 of 13
ITEM 1(A). NAME OF ISSUER
Celtrix Pharmaceuticals, Inc.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
2033 Gateway Place, Suite 600
San Jose, CA 95110
ITEM 2(A). NAME OF PERSONS FILING
This Statement is filed by Biotechnology Development Fund,
L.P. ("BDF"), Biotechnology Development Fund III, L.P. ("BDF III"), BioAsia
Investments, LLC ("BioAsia"), Frank Kung ("Kung"), Anselm Leung ("Leung"), and
Edgar Engleman ("Engleman"). The foregoing entities and individuals are
collectively referred to as the "Reporting Persons."
BioAsia is the general partner of BDF and BDF III, and may
be deemed to have indirect beneficial ownership of shares of the issuer directly
owned by BDF or beneficially owned by BDF through a 24.8% limited partnership
interest in BDF III. Kung, Leung, and Engleman are members of BioAsia and may
be deemed to have indirect beneficial ownership of the shares of issuer directly
and indirectly owned by BDF and directly owned by BDF III.
BioAsia hereby disclaims beneficial ownership of shares of
the issuer directly owned by BDF and BDF III except to the extent of any
indirect pecuniary interest therein. Keung, Leung, and Engleman hereby
disclaim beneficial ownership of the shares held by BDF and BDF III except to
the extent of any respective indirect pecuniary interest therein.
ITEM 2(B). ADDRESS OF PRINCIPAL OFFICE
The address for each of the Reporting Persons is:
BioAsia Investments, LLC, 575 High Street, Suite 201,
Palo Alto, CA 94301
ITEM 2(C) CITIZENSHIP
BDF is a Delaware limited partnership. BDF III is a Delaware
limited partnership. BioAsia is a California limited liability company. Kung,
Leung and Engleman are United States citizens.
ITEM 2(D) AND (E). TITLE OF CLASS OF SECURITIES AND CUSIP NUMBER
Common Stock
CUSIP # 151186103
ITEM 3. Not Applicable
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Page 9 of 13
ITEM 4. OWNERSHIP
(a) Amount beneficially owned:
See Row 9 of cover page for each Reporting Person.
(b) Percent of Class:
See Row 11 of cover page for each Reporting Person.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the
vote:
See Row 5 of cover page for each
Reporting Person.
(ii) Shared power to vote or to direct the
vote:
See Row 6 of cover page for each
Reporting Person.
(iii) Sole power to dispose or to direct the
disposition of:
See Row 7 of cover page for each
Reporting Person.
(iv) Shared power to dispose or to direct the
disposition of:
See Row 8 of cover page for each
Reporting Person.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
Under certain circumstances set forth in the limited
partnership agreements of BDF and BDF III and the limited liability company
operating agreement of BioAsia, the general and limited partners of BDF and BDF
III and the members of BioAsia each may be deemed to have the right to receive
dividends from, or the proceeds from, the sale of shares of the issuer owned by
each such entity of which they are a partner or member, as applicable.
<PAGE>
Page 10 of
13
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY
Not applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable
ITEM 10. CERTIFICATION.
Not applicable
<PAGE>
Page 11 of 13
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 12, 1999
Biotechnology Development Fund, L.P.
By: BioAsia Investments, LLC
Its: General Partner
By: /s/ Frank Kung
-----------------------------
Frank Kung, Member
Biotechnology Development Fund III, L.P.
By: BioAsia Investments, LLC
Its: General Partner
By: /s/ Frank Kung
-------------------------------
Frank Kung, Member
BioAsia Investments, LLC
By: /s/ Frank Kung
-------------------------------
Frank Kung, Member
/s/ Frank Kung
----------------------------------
FRANK KUNG
/s/ Anselm Leung
----------------------------------
ANSELM LEUNG
/s/ Edgar Engleman
----------------------------------
EDGAR ENGLEMAN
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Page 12 of 13
EXHIBIT INDEX
Found on
Sequentially
Exhibit Numbered Page
- ------- -------------
Exhibit A: Agreement of Joint Filing Page 13
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Page 13 of 13
EXHIBIT A
Agreement of Joint Filing
The undersigned hereby agree that a single Schedule 13G (or any
amendment thereto) relating to the Common Stock of Celtrix Pharmaceuticals,
Inc. shall be filed on behalf of each of the undersigned and that this
Agreement shall be filed as an exhibit to such Schedule 13G.
Executed this 12th day of February, 1999.
Biotechnology Development Fund, L.P.
By: BioAsia Investments, LLC
Its: General Partner
By: /s/ Frank Kung
-----------------------------
Frank Kung, Member
Biotechnology Development Fund III, L.P.
By: BioAsia Investments, LLC
Its: General Partner
By: /s/ Frank Kung
-------------------------------
Frank Kung, Member
BioAsia Investments, LLC
By: /s/ Frank Kung
-------------------------------
Frank Kung, Member
/s/ Frank Kung
----------------------------------
FRANK KUNG
/s/ Anselm Leung
----------------------------------
ANSELM LEUNG
/s/ Edgar Engleman
----------------------------------
EDGAR ENGLEMAN
