<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5 )*
Osteotech, Inc.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
688582105
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(CUSIP Number)
Check the following box if a fee is being paid with this statement |_|. (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 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 12 Pages
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CUSIP NO. 688582105 13G Page 2 of 12 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
HealthCare Ventures I, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 123,060
REPORTING
PERSON ----------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
123,060
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,060
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 688582105 13G Page 3 of 12 Pages
---------------
- ------------------------------- -----------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
HealthCare Partners I, 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 ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 123,060
REPORTING
PERSON ----------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
123,060
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,060
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 688582105 13G Page 4 of 12 Pages
---------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
James H. Cavanaugh, Ph.D.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 123,060
REPORTING
PERSON ----------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
123,060
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,060
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 688582105 13G Page 5 of 12 Pages
---------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
Harold R. Werner
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 123,060
REPORTING
PERSON ----------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
123,060
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,060
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 688582105 13G Page 6 of 12 Pages
---------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
John W. Littlechild
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 123,060
REPORTING
PERSON ----------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
123,060
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,060
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 688582105 13G Page 7 of 12 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
William Crouse
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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 ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 123,060
REPORTING
PERSON ----------------------------------------------------
WITH
7 SOLE DISPOSITIVE POWER
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
123,060
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,060
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
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Page 8 of 12 Pages
Item 1.
(a) Name of Issuer: Osteotech, Inc.
(b) Address of Issuer's Principal Executive Offices:
1151 Shrewsbury Avenue
Shrewsbury, New Jersey 07702
Item 2.
(a) Name of Person Filing:
HealthCare Ventures I, L.P. ("HCV I"), HealthCare Partners I,
L.P. ("HCP I"), Dr. Cavanaugh and Messrs. Werner, Littlechild
and Crouse. See attached Exhibit A which is a copy of their
agreement in writing to file this statement on behalf of each
of them.1
(b) Address of Principal Business Office or, if none, Residence:
The business address for HCV I, HCP I, Dr. Cavanaugh and
Messrs. Werner and Crouse is Twin Towers at Metro Park, 379
Thornall Street, Edison, New Jersey 08837. The business
address for Mr. Littlechild is One Kendall Square, Building
300, Cambridge, Massachusetts 02139.
(c) Citizenship:
HCV I and HCP I are limited partnerships organized under the
laws of the State of Delaware. Dr. Cavanaugh and Messrs.
Werner, Littlechild and Crouse are United States citizens.
(d) Title of Class of Securities:
Common Stock, $.01 par value ("Shares").
(e) CUSIP Number:
688582105
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1 Dr. Cavanaugh and Messrs. Werner, Littlechild and Crouse are general partners
of HCP I, which is the general partner of HCV I, the record holder of Issuer's
securities.
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Page 9 of 12 Pages
Item 3. If this statement is filed pursuant to Rule 13d-1(b), as
converted or 13d-2(b), check whether the person filing is a:
Inapplicable.
Item 4. Ownership.
(a) Amount Beneficially Owned:
As of December 31, 1996: each of HCV I, HCP I, Dr. Cavanaugh
and Messrs. Werner, Littlechild and Crouse beneficially owned
123,060 shares of Issuer's securities, consisting of
immediately exercisable warrants to purchase 123,060 shares of
Issuer's Common Stock.
(b) Percent of Class:
As of December 31, 1996: the 123,060 Shares of Issuer's
securities beneficially owned by HCV I, HCP I, Dr. Cavanaugh
and Messrs. Werner, Littlechild and Crouse constitute 1.6% of
Issuer's Shares outstanding
(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 I, HCP I, Dr. Cavanaugh and Messrs. Werner,
Littlechild and Crouse share the power to vote or direct
the vote of those Shares owned by HCV I.
(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 I, HCP I, Dr. Cavanaugh and Messrs. Werner,
Littlechild and Crouse share the power to dispose of or to
direct the disposition of those Shares owned by HCV I.
Item 5. Ownership of Five Percent or less of a Class:
If this statement is being filed in report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the Class of
Securities, check the following [X].
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Page 10 of 12 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
Inapplicable.
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.
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Page 11 of 12 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.
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<S> <C>
Dated: February 13, 1997 HealthCare Ventures I, L.P.,
Edison, New Jersey by its General Partner, HealthCare Partners I, L.P.
By: /s/ Jeffrey Steinberg
--------------------------
Administrative Partner
Dated: February 13, 1997 HealthCare Partners I, L.P.
Edison, New Jersey
By: /s/ Jeffrey Steinberg
--------------------------
Administrative Partner
Dated: February 13, 1997 By: /s/ Jeffrey Steinberg as Attorney-in-Fact
Edison, New Jersey -------------------------
James H. Cavanaugh, Ph.D.
Dated: February 13, 1997 By: /s/ Jeffrey Steinberg as Attorney-in-Fact
Edison, New Jersey --------------------------
Harold R. Werner
Dated: February 13, 1997 By: /s/ Jeffrey Steinberg as Attorney-in-Fact
Cambridge, Massachusetts --------------------------
John W. Littlechild
Dated: February 13, 1997 By: /s/ Jeffrey Steinberg as Attorney-in-Fact
Edison, New Jersey --------------------------
William Crouse
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Page 12 of 12 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 Osteotech, Inc.
and hereby affirm that such Schedule 13G is being filed on behalf of each of the
undersigned.
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<S> <C>
Dated: February 13, 1997 HealthCare Ventures I, L.P.,
Edison, New Jersey by its General Partner, HealthCare Partners I, L.P.
By: /s/ Jeffrey Steinberg
--------------------------
Administrative Partner
Dated: February 13, 1997 HealthCare Partners I, L.P.
Edison, New Jersey
By: /s/ Jeffrey Steinberg as Attorney-in-Fact
--------------------------
Administrative Partner
Dated: February 13, 1997 By: /s/ Jeffrey Steinberg as Attorney-in-Fact
Edison, New Jersey --------------------------
James H. Cavanaugh, Ph.D.
Dated: February 13, 1997 By: /s/ Jeffrey Steinberg as Attorney-in-Fact
Edison, New Jersey --------------------------
Harold R. Werner
Dated: February 13, 1997 By: /s/ Jeffrey Steinberg as Attorney-in-Fact
Cambridge, Massachusetts --------------------------
John W. Littlechild
Dated: February 13, 1997 By: /s/ Jeffrey Steinberg as Attorney-in-Fact
Edison, New Jersey --------------------------
William Crouse
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