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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), (c) AND (d) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)
(Amendment No. )(1)
MAGAININ PHARMACEUTICALS, INC.
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(Name of Issuer)
Common Stock $.002 par value
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(Title of Class of Securities)
559036108
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(CUSIP Number)
December 31, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1 (b)
[ ] Rule 13d-1 (c)
[X] Rule 13d-1 (d)
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(1) 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 14 Pages
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CUSIP NO. 559036108 13G Page 2 of 14 Pages
---------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
HealthCare Ventures V, 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 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,073,500
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,073,500
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,073,500
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.3%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP NO. 559036108 13G Page 3 of 14 Pages
---------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
HealthCare Partners V, 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 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,073,500
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,073,500
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,073,500
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.3%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP NO. 559036108 13G Page 4 of 14 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
United States
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5 SOLE VOTING POWER
2,321
----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,214,716
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 2,321
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,214,716
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,217,037
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.9%
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12 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
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CUSIP NO. 559036108 13G Page 5 of 14 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
United States
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5 SOLE VOTING POWER
4,859
----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,214,716
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 4,859
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,214,716
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,219,575
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.9%
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12 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
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CUSIP NO. 559036108 13G Page 6 of 14 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) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,214,716
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,214,716
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,214,716
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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
9.9%
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12 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP NO. 559036108 13G Page 7 of 14 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
United States
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5 SOLE VOTING POWER
----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,214,716
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,214,716
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,214,716
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.9%
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12 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
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CUSIP NO. 559036108 13G Page 8 of 14 Pages
---------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
Mark Leschly
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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
United States
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5 SOLE VOTING POWER
----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,073,500
OWNED BY
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,073,500
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,073,500
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTION BEFORE FILLING OUT!
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Page 9 of 14
Item 1.
(a) Name of Issuer:
Magainin Pharmaceuticals, Inc.
(b) Address of Issuer's Principal Executive Offices:
5110 Campus Drive
Plymouth Meeting, Pennsylvania 19462
Item 2.
(a) Name of Person Filing:
HealthCare Ventures V, L.P. ("HCV V"), HealthCare Partners V, L.P.
("HCP V"), Dr. Cavanaugh and Messrs. Werner, Littlechild, Crouse and
Leschly. 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 V, HCP V, 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 V and HCP V 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.
(d) Title of Class of Securities:
Common Stock, par value $.002 ("Shares").
(e) CUSIP Number:
559036108
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(1) Dr. Cavanaugh and Messrs. Werner, Littlechild, Crouse and Leschly are
general partners of HCP V, which is the general partner of HCV V, the record
holder of the 2,073,500 shares of Issuer's Common Stock reported hereto.
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Page 10 of 14
Item 3. If this statement is filed pursuant to Rule 13d-1(b) or (c), or
13d-2(b), check whether the person filing is a:
Inapplicable.
Item 4. Ownership.
(a) Amount Beneficially Owned:
As of December 31, 1998, HCV V and HCP V beneficially owned
2,073,500 Shares of Issuer's Common Stock; Dr. Cavanaugh
beneficially owned 2,217,037 Shares of the Issuer's Securities,
consisting of 2,075,821 Shares of Issuer's Common Stock and
immediately exercisable warrants to purchase 141,216 Shares of
Issuer's Common Stock(2); Mr. Werner beneficially owned 2,219,575
Shares of Issuer's Securities, consisting of 2,078,359 Shares of
Issuer's Common Stock and immediately exercisable warrants to
purchase 141,216 Shares of Issuer's Common Stock(2); Messrs.
Littlechild and Crouse each beneficially owned 2,214,716 Shares of
Issuer's Securities, consisting of 2,073,500 Shares of Issuer's
Common Stock and immediately exercisable warrants to purchase
141,216 Shares of Issuer's Common Stock(2); and Mr. Leschly
beneficially owned 2,073,500 Shares of Issuer's Common Stock.
(b) Percent of Class:
As of December 31, 1998: the 2,073,500 Shares of Issuer's Securities
beneficially owned by each of HCV V, HCP V and Mr. Leschly
constitute 9.3% of Issuer's Shares outstanding; the 2,214,716 Shares
of Issuer's Securities beneficially owned by Messrs. Crouse and
Littlechild constitute 9.9% of Issuer's Shares outstanding; the
2,217,037 Shares of Issuer's Securities beneficially owned by Dr.
Cavanaugh constitute 9.9% of Issuer's Shares outstanding; and the
2,219,575 Shares of Issuer's Securities beneficially owned by Mr.
Werner constitute 9.9% of Issuer's Shares outstanding.
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(2) The immediately exercisable warrants to purchase (i) 102,319 Shares of
Issuer's Common Stock are held by HealthCare Ventures I, L.P. ("HCV I"), of
which HealthCare Partners I, L.P. ("HCP I") is a general partner and (ii) 38,897
Shares of Issuer's Common Stock held by HealthCare Ventures II, L.P. ("HCV II"),
of which HealthCare Partners II L.P. ("HCP II") is a general partner
(collectively, the "Warrants"). Dr. Cavanaugh and Messrs. Werner, Littlechild
and Crouse are general partners of each of HCP I and HCP II. The exercise price
of such Warrants is $8.00 per share.
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Page 11 of 14
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
Dr. Cavanaugh has the sole power to vote or direct the
vote of the 2,321 Shares of Issuer's Common Stock
beneficially owned by him.
Mr. Werner has the sole power to vote or direct the vote
of the 4,859 Shares of Issuer's Common Stock beneficially
owned by him.
(ii) shared power to vote or to direct the vote:
HCV V, HCP V, Dr. Cavanaugh and Messrs. Werner,
Littlechild, Crouse and Leschly share the power to vote or
direct the vote of those Shares owned by HCV V.(3)
(iii) sole power to dispose or to direct the disposition of:
Dr. Cavanaugh has the sole power to dispose of or direct
the disposition of the 2,321 Shares of Issuer's Common
Stock beneficially owned by him.
Mr. Werner has the sole power to vote or direct the vote
of the 4,859 Shares of Issuer's Common Stock beneficially
owned by him.
(iv) shared power to dispose of or to direct the disposition of:
HCV V, HCP V, Dr. Cavanaugh and Messrs. Werner,
Littlechild, Crouse and Leschly share the power to vote or
direct the vote of those Shares owned by HCV V.(4)
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(3) Dr. Cavanaugh and Messrs. Werner, Littlechild and Crouse share the
power to vote or direct the vote of the Shares of Issuer's Common Stock
underlying the warrants held by HCV I and HCV II.
(4) Dr. Cavanaugh and Messrs. Werner, Littlechild and Crouse share the
power to vote or direct the vote of the Shares of Issuer's Common Stock
underlying the warrants held by HCV I and HCV II.
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Page 12 of 14
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.
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 13 of 14
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 12, 1999 HealthCare Ventures V, L.P.,
Princeton, New Jersey by its General Partner, HealthCare
Partners V, L.P.,
By: /s/ Jeffrey Steinberg
--------------------------------
Jeffrey Steinberg
Administrative Partner
Dated: February 12, 1999 HealthCare Partners V, L.P.
Princeton, New Jersey
By: /s/ Jeffrey Steinberg
--------------------------------
Jeffrey Steinberg
Administrative Partner
Dated: February 12, 1999 By: *
Princeton, New Jersey -------------------------------
James H. Cavanaugh, Ph.D.
Dated: February 12, 1999 By: *
Princeton, New Jersey -------------------------------
Harold R. Werner
Dated: February 12, 1999 By: *
Cambridge, Massachusetts -------------------------------
John W. Littlechild
Dated: February 12, 1999 By: *
Princeton, New Jersey -------------------------------
William Crouse
Dated: February 12, 1999 By: *
Cambridge, Massachusetts -------------------------------
Mark Leschly
--------------------------
*Signed by Jeffrey Steinberg as Attorney-in-Fact pursuant to the Power of
Attorney filed previously and incorporated herein by reference.
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Page 14 of 14
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 Magainin Pharmaceuticals, Inc. and
hereby affirm that such Schedule 13G is being filed on behalf of each of the
undersigned.
Dated: February 12, 1999 HealthCare Ventures V, L.P.,
Princeton, New Jersey by its General Partner, HealthCare
Partners V, L.P.,
By: /s/ Jeffrey Steinberg
--------------------------------
Jeffrey Steinberg
Administrative Partner
Dated: February 12, 1999 HealthCare Partners V, L.P.
Princeton, New Jersey
By: /s/ Jeffrey Steinberg
--------------------------------
Jeffrey Steinberg
Administrative Partner
Dated: February 12, 1999 By: *
Princeton, New Jersey --------------------------------
James H. Cavanaugh, Ph.D.
Dated: February 12, 1999 By: *
Princeton, New Jersey --------------------------------
Harold R. Werner
Dated: February 12, 1999 By: *
Cambridge, Massachusetts --------------------------------
John W. Littlechild
Dated: February 12, 1999 By: *
Princeton, New Jersey --------------------------------
William Crouse
Dated: February 12, 1999 By: *
Cambridge, Massachusetts --------------------------------
Mark Leschly
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*Signed by Jeffrey Steinberg as Attorney-in-Fact
