<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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.3)(1)
CORVAS INTERNATIONAL, INC.
--------------------------
(Name of Issuer)
Common Stock
------------------------------
(Title of Class of Securities)
22100 5 101
--------------
(CUSIP Number)
Hope Flack
BVF Partners L.P.
227 West Monroe Street, Suite 4800
Chicago, Illinois 60606
(312)263-7777
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
November 16, 1999
--------------------------------------------------------
(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 page(s))
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.
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 ("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).
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CUSIP No. 22100 5 101 13D PAGE 2 OF 7 PAGES
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY)
BIOTECHNOLOGY VALUE FUND, L.P.
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER (A) /X/
OF A GROUP* (B) / /
- -------------------------------------------------------------------------------
(3) SEC USE ONLY
- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*
WC
- -------------------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING --------------------------------------------------
PERSON WITH (8) SHARED VOTING POWER
1,519,216
--------------------------------------------------
(9) SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
1,519,216
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,519,216
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.5%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 22100 5 101 13D PAGE 3 OF 7 PAGES
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY)
BVF PARTNERS L.P.
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER (A) /X/
OF A GROUP* (B) / /
- -------------------------------------------------------------------------------
(3) SEC USE ONLY
- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING --------------------------------------------------
PERSON WITH (8) SHARED VOTING POWER
2,956,357
--------------------------------------------------
(9) SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
2,956,357
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,956,357
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.5%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 22100 5 101 13D PAGE 4 OF 7 PAGES
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE
PERSONS (ENTITIES ONLY)
BVF INC.
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER (A) /X/
OF A GROUP* (B) / /
- -------------------------------------------------------------------------------
(3) SEC USE ONLY
- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*
WC, OO
- -------------------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------------------------------------------------------------------
NUMBER OF SHARES (7) SOLE VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING --------------------------------------------------
PERSON WITH (8) SHARED VOTING POWER
2,956,357
--------------------------------------------------
(9) SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
2,956,357
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,956,357
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.5%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IA, CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 22100 5 101 13D Page 5 of 7 Pages
This Amendment No. 3 (the "Amendment") to the Statement on Schedule 13D,
dated April 24, 1997, as amended first by Amendment No. 1, dated October 17,
1997 and again by Amendment No. 2, dated April 10, 1998 (as amended the
second time, the "Statement"), is being 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, no par value (the "Stock"), of Corvas International, Inc.,
a Delaware corporation ("Corvas").
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Since September 16, 1999, Partners, in its capacity as general partner of
BVF, has sold on behalf of such limited partnership an aggregate number of
246,600 shares of the Stock for an aggregate consideration of $700,560.86. In
addition, Partners, in its capacity as investment manager with respect to
certain managed accounts, has sold on behalf of such managed accounts an
aggregate number of 143,000 shares of the Stock for an aggregate consideration
of $406,690.44.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) BVF beneficially owns 1,519,216 shares of the Stock, Partners
beneficially owns 2,956,357 shares of the Stock, and BVF Inc. beneficially owns
2,956,357 shares of the Stock, approximately 8.5%, 16.5% and 16.5%,
respectively, of the aggregate number of shares outstanding as of November 1,
1999 (as reported in Corvas' most recent quarterly statement on Form 10-Q).
(b) BVF shares voting and dispositive power over the 1,519,216 shares of
the Stock it beneficially owns with Partners. Partners and BVF Inc. share
voting and dispositive power over the 2,956,357 shares of the Stock they
beneficially own with, in addition to BVF, the 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") and Biotechnology Value Fund, Ltd.,
a Cayman Islands Corporation ("BVF Ltd."). Together, ILL10 and BVF Ltd. are
referred to herein as the "Accounts." The Accounts specialize in holding
biotechnology stocks for investment purposes and the business address of each
is BVF Partners L.P., 227 West Monroe Street, Suite 4800, Chicago, Illinois
60606.
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CUSIP No. 22100 5 101 13D Page 6 of 7 Pages
(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.
<PAGE>
CUSIP No. 22100 5 101 13D Page 7 of 7 Pages
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: November 24, 1998
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: November 24, 1998
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
DURING THE PAST SIXTY DAYS
<TABLE>
<CAPTION>
SETTLEMENT FOR THE PRICE PER
DATE BY ACCOUNT OF QUANTITY SHARE TYPE OF TRADE BROKER
- ---------- -------- ----------- -------- --------- ------------- ------
<S> <C> <C> <C> <C> <C> <C>
11/16/99 Partners BVF 10,000 $2.9375 Sale HRZG
- ---------- -------- ----------- -------- --------- ------------- ------
11/16/99 Partners BVF 31,600 $2.9818 Sale INET
- ---------- -------- ----------- -------- --------- ------------- ------
11/16/99 Partners BVF Ltd. 20,000 $2.9818 Sale INET
- ---------- -------- ----------- -------- --------- ------------- ------
11/18/99 Partners BVF Ltd. 8,000 $2.9922 Sale INET
- ---------- -------- ----------- -------- --------- ------------- ------
11/22/99 Partners BVF 195,000 $2.8347 Sale INET
- ---------- -------- ----------- -------- --------- ------------- ------
11/22/99 Partners BVF 10,000 $2.8750 Sale INET
- ---------- -------- ----------- -------- --------- ------------- ------
11/22/99 Partners BVF Ltd. 100,000 $2.8347 Sale INET
- ---------- -------- ----------- -------- --------- ------------- ------
11/22/99 Partners ILL10 15,000 $2.8347 Sale INET
- ---------- -------- ----------- -------- --------- ------------- ------
</TABLE>
HRZG = Herzog, Hein & Geduld
INET = Instinet
