<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_______
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(AMENDMENT NO. 2)/1/
CHRYSALIS INTERNATIONAL CORPORATION
-----------------------------------
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
17118 8 105
-----------
(CUSIP Number)
Hope Flack
BVF Partners L.P.
333 West Wacker Drive, Suite 1600
Chicago, Illinois 60606
(312) 263-7777
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 24, 1997
------------------
(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 which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
(Continued on following pages)
(Page 1 of 7 Pages)
- -----------------------------
/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 disclosures provided in a prior cover page.
/2/ 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 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).
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CUSIP NO. 17118 8 105 SCHEDULE 13D PAGE 2 OF 7 PAGES
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NAME OF REPORTING PERSONS
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Biotechnology Value Fund, L.P.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [x]
(b) [_]
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SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
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SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
420,155
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
420,155
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
420,155
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
3.7%
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TYPE OF REPORTING PERSON*
14
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 17118 8 105 SCHEDULE 13D PAGE 3 OF 7 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BVF Partners L.P.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [x]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
OO
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
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SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
801,045
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
801,045
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
801,045
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 17118 8 105 SCHEDULE 13D PAGE 4 OF 7 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BVF Inc.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [x]
(b) [_]
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SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC, OO
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
5 ITEMS 2(d) or 2(e) [_]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
801,045
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
801,045
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
801,045
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IA, CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 17118 8 105 SCHEDULE 13D PAGE 5 OF 7 PAGES
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Amendment No. 2 (the "Amendment") to the Statement on Schedule 13D, dated
January 25, 1996, as amended by Amendment No. 1, dated November 8, 1996 (as so
amended, the "Statement"), filed with the Securities and Exchange Commission on
behalf of Biotechnology Value Fund, L.P., a Delaware limited partnership
("BVF"), BVF Partners L.P., a Delaware limited partnership ("Partners"), and BVF
Inc., a Delaware corporation ("BVF Inc." and, together with BVF and Partners,
the "Reporting Persons") with respect to the Common Stock, par value $.01 per
share, of DNX Corp.
Item 1 is hereby amended to read in its entirety as follows:
ITEM 1. SECURITY AND ISSUER.
This Statement relates to the Common Stock, par value $.01 per share (the
"Stock"), of Chrysalis International Corporation ("Chrysalis"), formerly known
as DNX Corp. The principle executive office of Chrysalis is located at 575 Route
28, Raritan, New Jersey 08869.
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since September 12, 1997, Partners, in its capacity as general partner of
BVF, has purchased on behalf of such limited partnership an aggregate number of
124,000 shares of the Stock for an aggregate consideration of $531,374.00,
utilizing funds provided by BVF from its working capital pursuant to the terms
of its limited partnership agreement with Partners. In addition, Partners, in
its capacity as investment manager with respect to certain managed accounts, has
purchased on behalf of such managed accounts an aggregate number of 51,400
shares of the Stock for an aggregate consideration of $218,762.50, utilizing
funds under management by Partners pursuant to an investment management
agreement between Partners and such managed accounts.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) BVF beneficially owns 420,155 shares of the Stock, Partners
beneficially owns 801,045 shares of the Stock, and BVF Inc. beneficially owns
801,045 shares of the Stock, approximately 3.7%, 7.0% and 7.0%, respectively, of
the aggregate number of shares outstanding as of October 3, 1997.
(b) BVF shares voting and dispositive power over the 420,155 shares of the
Stock it beneficially owns with Partners. Partners and BVF Inc. share voting
and dispositive power over the 801,045 shares of the Stock they beneficially own
with, in addition to BVF, the
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CUSIP NO. 17118 8 105 SCHEDULE 13D PAGE 6 OF 7 PAGES
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managed accounts on whose behalf Partners, as investment manager, purchased
such shares. The managed accounts on whose behalf Partners owns shares of the
Stock are Investment 10 L.L.C., an Illinois limited liability company ("ILL10"),
Palamundo, L.D.C., a limited duration company organized under the laws of the
Cayman Islands ("Palamundo"), ZPG Securities, L.L.C., a New York limited
liability company ("ZPG") and Biotechnology Value Fund, Ltd., a Cayman Islands
Corporation ("BVF Ltd."). ILL10, Palamundo, ZPG and BVF Ltd. are collectively
referred to herein as the "Accounts." The Accounts specialize in holding
biotechnology stocks for investment purposes and the business address of each is
c/o BVF Partners L.P., 333 West Wacker Drive, Suite 1600, Chicago, Illinois
60606.
(c) Exhibit B attached hereto contains information as to all transactions
in the Stock by the Reporting Persons during the past sixty days. All such
transactions were made for cash in open market, over-the-counter transactions.
No other transactions in the Stock have been effected by the Reporting Persons
during the past sixty days.
(d) The Accounts are entitled to receive dividends and any sale proceeds
with respect to the Stock in proportion to their respective ownership interests
therein.
Item 7 is hereby amended to read in its entirety as follows:
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Agreement Regarding Joint Filing
Exhibit B - Transactions in the Stock by the Reporting Persons during the
last 60 days.
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CUSIP NO. 17118 8 105 SCHEDULE 13D PAGE 7 OF 7 PAGES
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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: October 3, 1997
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
---------------------------------
Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-------------------------------------
Mark N. Lampert
President
BVF INC.
By: /s/ MARK N. LAMPERT
-------------------------------------
Mark N. Lampert
President
<PAGE>
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
--------------------------------
The undersigned, Biotechnology Value Fund, L.P., a Delaware limited
partnership, and BVF Partners L.P., a Delaware limited partnership, and BVF
Inc., a Delaware corporation, hereby agree and acknowledge that the Amendment
containing the information required by Schedule 13D, to which this Agreement is
attached as an exhibit, is filed on behalf of each of them. The undersigned
further agree that any further amendments or supplements thereto shall also be
filed on behalf of each of them.
Dated: October 3, 1997
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-------------------------------------
Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-----------------------------------------
Mark N. Lampert
President
BVF INC.
By: /s/ MARK N. LAMPERT
-------------------------------------
Mark N. Lampert
President
<PAGE>
EXHIBIT B
TRANSACTIONS IN THE STOCK BY THE REPORTING PERSONS
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DURING THE PAST SIXTY DAYS
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<TABLE>
<CAPTION>
Price
Settlement For the per
Date By Account of Quantity Share Type of Trade Broker
- ---------- ----------- ----------- -------- --------- ------------- ------
<C> <S> <C> <C> <C> <C> <C>
09/12/97 Partners BVF 15,000 $4.4375 Purchase GROW
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09/15/97 Partners BVF 15,000 $4.4166 Purchase GROW
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09/16/97 Partners BVF, Ltd. 3,000 $4.3750 Purchase GROW
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09/16/97 Partners BVF 12,000 $4.3750 Purchase GROW
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09/19/97 Partners ZPG 500 $4.2500 Purchase GROW
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09/19/97 Partners BVF, Ltd. 2,500 $4.2500 Purchase GROW
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09/19/97 Partners BVF 7,000 $4.2500 Purchase GROW
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09/22/97 Partners BVF, Ltd. 6,000 $4.2500 Purchase GROW
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09/22/97 Partners BVF 12,000 $4.2500 Purchase GROW
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09/22/97 Partners ILL10 2,000 $4.2500 Purchase GROW
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09/22/97 Partners BVF 10,000 $4.2500 Purchase GROW
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09/24/97 Partners PAL 1,800 $4.3750 Purchase GROW
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09/24/97 Partners ZPG 1,100 $4.3750 Purchase GROW
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09/24/97 Partners BVF, Ltd. 12,800 $4.3750 Purchase GROW
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09/24/97 Partners BVF 20,600 $4.3750 Purchase GROW
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09/24/97 Partners ILL10 3,700 $4.3750 Purchase GROW
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10/01/97 Partners ZPG 5,000 $4.0625 Purchase GROW
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10/01/97 Partners BVF 15,400 $4.0625 Purchase GROW
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10/06/97 Partners ZPG 5,000 $4.1250 Purchase GROW
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10/06/97 Partners BVF Ltd. 8,000 $4.1250 Purchase GROW
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10/06/97 Partners BVF 17,000 $4.1250 Purchase GROW
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</TABLE>
GROW = Pacific Growth Inc.
