<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Amendment No. 3
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Medarex, Inc.
_______________________________________________________________________________
(Name of Issuer)
COMMON STOCK, par value $0.01
_______________________________________________________________________________
(Title of Class of Securities)
583916-10-1
_______________________________________________________________________________
CUSIP Number
BCC Acquisition I LLC
c/o Bay City Capital LLC
750 Battery Street
Suite 600
San Francisco, California 94111
(415) 676-3830
with a copy to:
Timothy G. Hoxie, Esq.
Heller Ehrman White & McAuliffe
333 Bush Street
San Francisco, California 94104
(415) 772-6052
_______________________________________________________________________________
(Name, address and telephone number
of person authorized to receive notices and communications)
September 14, 2000
______________________
(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 that is the subject of this Schedule 13D, and is filing this
statement because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box: [_]
(Continued on following pages)
(Page 1 of 9 Pages)
<PAGE>
CUSIP NO. 583916-10-1 13D Page 2 of 9 pages
Amendment No. 3
1) NAMES OF REPORTING PERSONS BCC Acquisition I LLC
-------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) SOURCE OF FUNDS WC, AF
-------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [_]
-------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-------------------------------------------------------------------------------
NUMBER OF 7) SOLE VOTING POWER -0-
SHARES
--------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER 2,626,673 shares
OWNED BY
--------------------------------------------------------
EACH
REPORTING 9) SOLE DISPOSITIVE POWER -0-
PERSON
--------------------------------------------------------
WITH 10) SHARED DISPOSITIVE POWER 2,626,673 shares
-------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY 2,626,673 shares
EACH REPORTING PERSON
-------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
-------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.29%
-------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON OO
-------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 583916-10-1 13D Page 3 of 9 pages
Amendment No. 3
1) NAMES OF REPORTING PERSONS The Bay City Capital Fund I, L.P.
-------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) SOURCE OF FUNDS WC, AF
-------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [_]
-------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-------------------------------------------------------------------------------
NUMBER OF 7) SOLE VOTING POWER -0-
SHARES
--------------------------------------------------------
BENEFICIALLY 8) SHARED VOTING POWER 2,626,673 shares
OWNED BY
--------------------------------------------------------
EACH
REPORTING 9) SOLE DISPOSITIVE POWER -0-
PERSON
--------------------------------------------------------
WITH 10) SHARED DISPOSITIVE POWER 2,626,673 shares
-------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY 2,626,673 shares
EACH REPORTING PERSON
-------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
-------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.29%
-------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON OO
-------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 583916-10-1 13D Page 4 of 9 pages
Amendment No. 3
<TABLE>
--------------------------------------------------------------------------------------------
<S> <C> <C>
1) NAMES OF REPORTING PERSONS Bay City Capital Management LLC
--------------------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------------------
3) SEC USE ONLY
--------------------------------------------------------------------------------------------
4) SOURCE OF FUNDS WC, AF
--------------------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [_]
--------------------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
--------------------------------------------------------------------------------------------
NUMBER OF SHARES 7) SOLE VOTING POWER -0-
--------------------------------------------------------------------
BENEFICIALLY OWNED BY 8) SHARED VOTING POWER 2,626,673 shares
--------------------------------------------------------------------
EACH REPORTING PERSON 9) SOLE DISPOSITIVE POWER -0-
--------------------------------------------------------------------
WITH 10) SHARED DISPOSITIVE POWER 2,626,673 shares
--------------------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 2,626,673 shares
--------------------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
--------------------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.29%
--------------------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON OO
--------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CUSIP NO. 583916-10-1 13D Page 5 of 9 pages
Amendment No. 3
<TABLE>
--------------------------------------------------------------------------------------------
<S> <C> <C>
1) NAMES OF REPORTING PERSONS Bay City Capital LLC
--------------------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------------------
3) SEC USE ONLY
--------------------------------------------------------------------------------------------
4) SOURCE OF FUNDS WC, AF
--------------------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [_]
--------------------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
--------------------------------------------------------------------------------------------
NUMBER OF SHARES 7) SOLE VOTING POWER -0-
--------------------------------------------------------------------
BENEFICIALLY OWNED BY 8) SHARED VOTING POWER 2,626,673 shares
--------------------------------------------------------------------
EACH REPORTING PERSON 9) SOLE DISPOSITIVE POWER -0-
--------------------------------------------------------------------
WITH 10) SHARED DISPOSITIVE POWER 2,626,673 shares
--------------------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 2,626,673 shares
--------------------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [_]
--------------------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.29%
--------------------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON OO
--------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
CUSIP NO. 583916-10-1 13D Page 6 of 9 pages
Amendment No. 3
INTRODUCTION
BCC Acquisition I LLC, a Delaware limited liability company ("BCC
Acquisition"), hereby files this Amendment No. 3 (the "Amendment") to the
Statement on Schedule 13D (the "Statement") on behalf of the Reporting Persons
(as defined under Item 2 of the Statement) identified herein pursuant to the
Agreement with Respect to Schedule 13D attached to the Statement as Exhibit
7(1). Defined terms not otherwise defined herein are deemed to have the same
definition as ascribed thereto in the Statement.
Only those Items amended are reported herein.
Item 4. Purpose of Transaction.
----------------------
Item 4 is amended by adding the following paragraph at the end thereof:
In a series of open market transactions on the NASDAQ occurring on
September 12 through 15, 18, 22, and 25 through 29 and October 2 and 3, 2000,
BCC Acquisition disposed of an aggregate of 750,000 shares of the Common Stock
of the Issuer at an average sales price of approximately $109.93 per share. The
total funds received by BCC Acquisition in these transactions was $82,442,425
(excluding broker commissions). A table identifying the sales occurring within
the last sixty days is included in Item 5(c) of this Amendment. BCC Acquisition
presently intends to hold its remaining shares for investment, but reserves the
right to sell additional shares, or acquire additional shares, from time to
time.
Item 5. Interest in Securities of the Issuer.
-------------------------------------
Item 5, paragraphs (a) and (b), is amended to read as follows:
<PAGE>
CUSIP NO. 583916-10-1 13D Page 7 of 9 pages
----------- Amendment No. 3
(a) and (b)
The aggregate number of Shares and percentage of Common Stock of the Issuer
(based upon Issuer's report on Form 10-Q for the quarter ending June 30, 2000,
that it had 36,020,286 shares of Common Stock outstanding as of August 1, 2000)
beneficially owned by each person named in Item 2, as well as the number of
Shares of Common Stock as to which such person is deemed to have sole power to
vote or to direct the vote, shared 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, in each case after giving effect to the transactions
described in Item 4 of this Amendment, is set forth in the following table.
<TABLE>
<CAPTION>
=======================================================================================================
Reporting Person No. of Shares Percentage Power to Vote Power to Dispose
Beneficially of Class
Owned Shared Sole Shared Sole
-------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
BCC Acquisition I 2,626,673 7.29% 2,626,673 2,626,673
-------------------------------------------------------------------------------------------------------
BCC Fund I, L.P. 2,626,673 7.29% 2,626,673 2,626,673
-------------------------------------------------------------------------------------------------------
BCC Management LLC 2,626,673 7.29% 2,626,673 2,626,673
-------------------------------------------------------------------------------------------------------
BCC LLC 2,626,673 7.29% 2,626,673 2,626,673
-------------------------------------------------------------------------------------------------------
</TABLE>
The information required by Item 5 with respect to persons with whom voting
or dispositive power is shared is set forth in Item 2 of the Statement.
(c) To the best knowledge of the Reporting Persons, no person described in
paragraph (a) of this Item 5 has effected any transaction in the Common Stock of
the Issuer during the past 60 days other than as set forth in the table below:
<PAGE>
CUSIP NO. 583916-10-1 13D Page 8 of 9 pages
----------- Amendment No. 3
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
Date Seller # Shares Price Total Funds
Received
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
9/12/00 BCC Acquisition 35,000 $107.9911 $ 3,779,558.56
------------------------------------------------------------------------------------------
9/13/00 BCC Acquisition 102,500 106.5168 10,917,604.11
------------------------------------------------------------------------------------------
9/14/00 BCC Acquisition 250,000 110.0375 27,508,454.07
------------------------------------------------------------------------------------------
9/15/00 BCC Acquisition 28,000 110.8839 3,104,641.75
------------------------------------------------------------------------------------------
9/18/00 BCC Acquisition 7,500 106.3333 797,469.21
------------------------------------------------------------------------------------------
9/22/00 BCC Acquisition 80,000 103.2969 8,263,472.59
------------------------------------------------------------------------------------------
9/25/00 BCC Acquisition 35,000 109.8304 3,843,931.91
------------------------------------------------------------------------------------------
9/26/00 BCC Acquisition 20,000 108.8438 2,176,799.48
------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
9/27/00 BCC Acquisition 80,000 114.1211 9,129,379.72
------------------------------------------------------------------------------------------
9/28/00 BCC Acquisition 45,000 115.8333 5,212,320.80
------------------------------------------------------------------------------------------
9/29/00 BCC Acquisition 20,000 118.4375 2,368,667.09
------------------------------------------------------------------------------------------
10/2/00 BCC Acquisition 20,000 118 2,359,917.38
------------------------------------------------------------------------------------------
10/3/00 BCC Acquisition 27,000 110.38 2,980,208.00
------------------------------------------------------------------------------------------
TOTAL 750,000 $ 82,442,425
------- --------------
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</TABLE>
(d) To the best knowledge of the Reporting Persons, no persons other than
the Reporting Persons have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the Common Stock of
the Issuer held by the Reporting Persons.
A response to Item 5(c) is added as follows:
Other than the transactions described in Item 4 of this Amendment, there
have been no transactions by the Reporting Persons in the Issuer's Common Stock
since the date of filing of Amendment No. 2 to the Statement, dated July 5,
2000.
<PAGE>
CUSIP NO. 583916-10-1 13D Page 9 of 9 pages
----------- Amendment No. 3
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
DATED: October 4, 2000
BCC Acquisition I LLC
By Its Manager
The Bay City Capital Fund I, L.P.
By: Its General Partner
Bay City Capital Management LLC
By: /s/ Fred B. Craves
----------------------------
Name: Fred B. Craves
Its: Manager
