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OMB APPROVAL
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OMB Number 3235-0104
Expires: September 30, 1998
Extimated average burden
hours per response.......0.5
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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Artisan Equity Limited
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(Last) (First) (Middle)
c/o Island Circle Limited
P.O. Box 1186
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(Street)
Hamilton Bermuda HMEX
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Corvas International, Inc. (CVAS)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year October 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ ] Officer [X] 10% Owner [ ] Other
(give title below) (specify below)
Chief Executive Officer and President
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by more than One Reporting Person
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TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
None
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Print or Type Responses)
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FORM 4 (continued)
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
5.5% Convertible Senior One Note of
Subordinated Note due 2006 $3.25 10/20/99 P $3,500,000
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</TABLE>
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
<TABLE>
<CAPTION>
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1. Title of Derivative 6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
Security (Instr. 3) cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Secu- ficial
(Instr. ficially rity: Owner-
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Date Expira- Amount or at End (D) or (Instr.
Exer- tion Title Number of of Indi- 4)
cisable Date Shares Month rect (1)
(Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Two Notes for
a total of
$10,000,000:
One for
Common Stock, $6,500,000 D
5.5% Convertible Senior $.001 par 1,076,923 $3,500,000 and one for
Subordinated Note due 2006 10/20/99 08/18/06 value shares $3,500,000*
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</TABLE>
Explanation of Responses:
* On August 18, 1999, the Reporting Person acquired from the Issuer a 5.5%
Convertible Senior Subordinated Note due 2006 in an aggregate principal amount
of $6,500,000 for a purchase price of $6,500,000 (the "First Convertible
Note"). The accreted value of the First Convertible Note is convertible at any
time into Common Stock of the Issuer at $3.25 per share. On October 20, 1999,
the Reporting Person acquired from the Issuer a 5.5% Convertible Senior
Subordinated Note due 2006 in an aggregate principal amount of $3,500,000 for
a purchase price of $3,500,000 (the "Second Convertible Note"). The maturity
date and terms of the Second Convertible Note are identical to those of the
First Convertible Note.
/s/ Michel J. Drew November 5, 1999
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Signature of Reporting Person Date
