UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Corvas International, Inc.
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
221005-10-1
(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 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).
-1-<PAGE>
CUSIP No. 221005-10-1 13G Page 2 of 17 Pages
1 Name Of Reporting Person H&Q LIFE SCIENCE TECHNOLOGY FUND I
IRS Identification No. Of Above Person 94-3051434
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
California
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
PN<PAGE>
CUSIP No. 221005-10-1 13G Page 3 of 17 Pages
1 Name Of Reporting Person H&Q LIFE SCIENCE VENTURES
IRS Identification No. Of Above Person 94-2969639
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
California
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
PN<PAGE>
CUSIP No. 221005-10-1 13G Page 4 of 17 Pages
1 Name Of Reporting Person H&Q LONDON VENTURES
IRS Identification No. Of Above Person 94-2966540
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
England
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
PN<PAGE>
CUSIP No. 221005-10-1 13G Page 5 of 17 Pages
1 Name Of Reporting Person H&Q VENTURES IV
IRS Identification No. Of Above Person 94-2940347
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
California
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
PN<PAGE>
CUSIP No. 221005-10-1 13G Page 6 of 17 Pages
1 Name Of Reporting Person HAMQUIST
IRS Identification No. Of Above Person 94-2800484
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
California
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
PN<PAGE>
CUSIP No. 221005-10-1 13G Page 7 of 17 Pages
1 Name Of Reporting Person HAMBRECHT & QUIST VENTURE PARTNERS
IRS Identification No. Of Above Person 94-2949080
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
California
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
PN<PAGE>
CUSIP No. 221005-10-1 13G Page 8 of 17 Pages
1 Name Of Reporting Person HAMBRECHT & QUIST CALIFORNIA
IRS Identification No. Of Above Person 94-2856927
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
California
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
CO<PAGE>
CUSIP No. 221005-10-1 13G Page 9 of 17 Pages
1 Name Of Reporting Person HAMBRECHT & QUIST GROUP
IRS Identification No. Of Above Person 94-3246636
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
Delaware
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
HC, CO<PAGE>
CUSIP No. 221005-10-1 13G Page 10 of 17 Pages
1 Name Of Reporting Person WILLIAM R. HAMBRECHT
IRS Identification No. Of Above Person ###-##-####
2 Check The Appropriate Box If A Member Of A Group (a) [ ]
(b) [x]
3 SEC USE ONLY
4 Citizenship Or Place Of Organization
United States
5 Sole Voting Power
-0-
NUMBER OF
6 Shared Voting Power SHARES
BENEFICIALLY
8,724 OWNED BY EACH
REPORTING
7 Sole Dispositive Power PERSON WITH
-0-
8 Shared Dispositive Power
51,581
9 Aggregate Amount Beneficially Owned By Each Reporting Person
51,581
10 Check Box If The Aggregate Amount In Row (9) Excludes
Certain Shares* [ ]
11 Percent Of Class Represented By Amount In Row 9
0.4%
12 Type Of Reporting Person*
IN<PAGE>
CUSIP No. 221005-10-1 13G Page 11 of 17 Pages
Item 1(a). Name of Issuer.
Corvas International, Inc. (the "Issuer").
Item 1(b). Address of Issuer's Principal Executive
Offices.
3030 Science Park Road, San Diego, CA 92129.
Item 2(a). Names of Persons Filing.
Reference is made to Item 1 of each of the cover
pages of this Schedule 13G, which Items are incorporated by
reference herein.
Item 2(b). Address of Principal Business Office or, if
none, Residence.
The address of each reporting person is One Bush
Street, San Francisco, California 94104.
Item 2(c). Citizenship.
Reference is made to Item 4 of each of the cover
pages of this Schedule 13G, which Items are incorporated by
reference herein.
Item 2(d). Title of Class of Securities.
Common Stock, no par value ("Common Stock").
Item 2(e). CUSIP Number.
221005-10-1
Item 3. Type of Reporting Person.
Not applicable.
Item 4. Ownership.
Reference is made to Items 5-9 and 11 of each of
the cover pages to this statement, which Items are
incorporated by reference herein. According to information
furnished to the reporting persons by the Issuer, there were
13,716,672 shares of Common Stock issued and outstanding as
of December 31, 1996. On December 31, 1996, the following
shares of Common Stock were held directly by the following
persons:<PAGE>
CUSIP No. 221005-10-1 13G Page 12 of 17 Pages
Common Stock
Person Directly Owned
H&Q Life Science Technology Fund I - 0 -
H&Q Life Science Ventures - 0 -
H&Q London Ventures - 0 -
H&Q Ventures IV - 0 -
Hamquist 4,285
Hambrecht & Quist Venture Partners 4,439
_____
TOTAL 8,724
=====
Because voting and investment decisions concerning
the above securities may be made by or in conjunction with
Hambrecht & Quist Venture Partners, Hambrecht & Quist
California, Hambrecht & Quist Group and William R. Hambrecht,
each of the reporting persons may be deemed a member of a
group that shares voting and dispositive power over all of
the above securities. Although the reporting persons are
reporting such securities as if they were members of a group,
the filing of this Schedule 13G shall not be construed as an
admission by any reporting person that it is a beneficial
owner of any securities other than those directly held by
such reporting person.
In addition, Hambrecht & Quist Group may be deemed
to be the beneficial owner of 42,857 shares of Common Stock
held by Ivory and Sime Enterprise Capital PLC (formerly known
as The Independent Investment Company PLC). Pursuant to an
investment advisory agreement, Hambrecht & Quist Group does
not have voting power over such shares, but may be considered
to have investment power. Although such shares are included
in the number of shares beneficially owned by the reporting
persons for purposes of this Schedule 13G, the reporting
persons disclaim beneficial ownership of such shares for any
purpose.
Under the definition of "beneficial ownership" in
Rule 13d-3 under the Securities Exchange Act of 1934, it is
also possible that the individual general partners,
directors, executive officers, members and/or managers of the
foregoing entities might be deemed the "beneficial owners" of
some or all of the securities to which this Schedule 13G<PAGE>
CUSIP No. 221005-10-1 13G Page 13 of 17 Pages
relates in that they might be deemed to share the power to
direct the voting and disposition of such securities.
Neither the filing of this Schedule 13G nor any of its
contents shall be deemed to constitute an admission that any
of such individuals is, for any purpose, the beneficial owner
of any of the securities to which this Schedule 13G relates,
and such beneficial ownership is expressly disclaimed.
This Schedule 13G does not include shares of Common
Stock, if any, held by Hambrecht & Quist LLC in its trading
account if it is a market maker in the Issuer's Common Stock.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact
that as of the date hereof, the reporting persons have ceased
to be the beneficial owners of more than 5% of the Common
Stock, check the following: [x]
Item 6. Ownership of More Than Five Percent on Behalf of
Another Person.
Not applicable.
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>
CUSIP No. 221005-10-1 13G Page 14 of 17 Pages
Signature
After reasonable inquiry and to the best of their
knowledge and belief, the undersigned certify that the
information set forth in this statement is true, complete and
correct.
DATED: February 12, 1997.
H&Q LIFE SCIENCE HAMQUIST
TECHNOLOGY FUND I
By:/s/ Jackie A. Berterretche By:/s/ Jackie A. Berterretche
__________________________ ___________________________
Jackie A. Berterretche Jackie A. Berterretche
Attorney-in-Fact Attorney-in-Fact
H&Q LIFE SCIENCE VENTURES HAMBRECHT & QUIST CALIFORNIA
By:/s/ Jackie A. Berterretche By:/s/ Jackie A. Berterretche
__________________________ ___________________________
Jackie A. Berterretche Jackie A. Berterretche
Attorney-in-Fact Attorney-in-Fact
H&Q LONDON VENTURES HAMBRECHT & QUIST VENTURE
PARTNERS
By:/s/ Jackie A. Berterretche
__________________________ By:/s/ Jackie A. Berterretche
Jackie A. Berterretche ___________________________
Attorney-in-Fact Jackie A. Berterretche
Attorney-in-Fact
H&Q VENTURES IV
HAMBRECHT & QUIST GROUP
By:/s/ Jackie A. Berterretche
__________________________ By:/s/ Jackie A. Berterretche
Jackie A. Berterretche ___________________________
Attorney-in-Fact Jackie A. Berterretche
Attorney-in-Fact
WILLIAM R. HAMBRECHT
By:/s/ Jackie A. Berterretche
___________________________
Jackie A. Berterretche
Attorney-in-Fact<PAGE>
CUSIP No. 221005-10-1 13G Page 15 of 17 Pages
EXHIBIT INDEX
Exhibit A Joint Filing Undertaking Page 16<PAGE>
CUSIP No. 221005-10-1 13G Page 16 of 17 Pages
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto,
hereby execute this agreement as an exhibit to the Amendment
to Schedule 13G to evidence the agreement of the below-named
parties, in accordance with rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Amendment and
any subsequent amendment jointly on behalf of each of such
parties.
DATED: February 12, 1997.
H&Q LIFE SCIENCE HAMQUIST
TECHNOLOGY FUND I
By:/s/ Jackie A. Berterretche By:/s/ Jackie A. Berterretche
__________________________ ___________________________
Jackie A. Berterretche Jackie A. Berterretche
Attorney-in-Fact Attorney-in-Fact
H&Q LIFE SCIENCE VENTURES HAMBRECHT & QUIST VENTURE
PARTNERS
By:/s/ Jackie A. Berterretche
__________________________ By:/s/ Jackie A. Berterretche
Jackie A. Berterretche ___________________________
Attorney-in-Fact Jackie A. Berterretche
Attorney-in-Fact
H&Q LONDON VENTURES
HAMBRECHT & QUIST CALIFORNIA
By:/s/ Jackie A. Berterretche
__________________________ By:/s/ Jackie A. Berterretche
Jackie A. Berterretche ___________________________
Attorney-in-Fact Jackie A. Berterretche
Attorney-in-Fact
H&Q VENTURES IV
HAMBRECHT & QUIST GROUP
By:/s/ Jackie A. Berterretche
__________________________ By:/s/ Jackie A. Berterretche
Jackie A. Berterretche ___________________________
Attorney-in-Fact Jackie A. Berterretche
Attorney-in-Fact<PAGE>
CUSIP No. 221005-10-1 13G Page 17 of 17 Pages
WILLIAM R. HAMBRECHT
By:/s/ Jackie A. Berterretche
___________________________
Jackie A. Berterretche
Attorney-in-Fact<PAGE>
