<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(RULE 13D-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1) /1/
SYNAPTIC PHARMACEUTICAL CORPORATION
-----------------------------------
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
87156 R 109
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(CUSIP Number)
Hope Flack
BVF Partners L.P.
333 West Wacker Drive, Suite 1600
Chicago, Illinois 60606
(312) 263-7777
--------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 9, 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.
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. 87156 R 109 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
BIOTECHNOLOGY VALUE FUND, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X] (b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER 7 SOLE VOTING POWER
OF -0-
SHARES ---------------------------------------------------------------
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
REPORTING 458,592
PERSON ---------------------------------------------------------------
WITH
9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
458,592
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
458,592
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
6.0%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 87156 R 109 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
BVF PARTNERS L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X] (b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER 7 SOLE VOTING POWER
OF -0-
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 849,992
REPORTING ---------------------------------------------------------------
PERSON
WITH 9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
849,992
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
849,992
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
11.1%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 87156 R 109 13D Page 4 of 7 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
BVF INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X] (b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER 7 SOLE VOTING POWER
OF -0-
SHARES ----------------------------------------------------------------
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
REPORTING 849,992
PERSON ----------------------------------------------------------------
WITH
9 SOLE DISPOSITIVE POWER
-0-
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
849,992
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
849,992
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
11.1%
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14 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 87156 R 109 13D Page 5 of 7 Pages
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This Amendment No. 1 (this "Amendment") relates to the Statement on
Schedule 13D (the "Statement") dated March 19, 1997, filed with the Securities
and Exchange Commission on behalf of BVF Partners L.P., a Delaware limited
partnership ("Partners"), Biotechnology Value Fund, L.P., a Delaware limited
partnership ("BVF") 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 $0.01 per share (the "Stock"), of Synaptic
Pharmaceutical Corporation, a Delaware corporation ("Synaptic").
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since May 16, 1997, Partners, in its capacity as general partner of BVF,
has acquired on behalf of such limited partnership an aggregate number of 94,876
shares of the Stock for an aggregate consideration of $1,483,441, 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
acquired on behalf of such managed accounts an aggregate number of 40,500 shares
of the Stock for an aggregate consideration of $524,471.70, utilizing funds
under management by Partners pursuant to investment manager agreements between
Partners and such managed accounts.
Item 4 is hereby amended to read in its entirety as follows:
ITEM 4. PURPOSE OF TRANSACTIONS.
The sole purpose of the acquisitions and dispositions of the Stock reported
herein is and was for investment. The Reporting Persons did not, at the time of
such acquisitions or dispositions of the Stock, and do not presently, have any
plan to acquire control of Synaptics or to entirely dispose of the Stock. The
Reporting Persons may acquire or dispose of additional shares of the Stock from
time to time.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) BVF beneficially owns 458,592 shares of the Stock, Partners
beneficially owns 849,992 shares of the Stock and BVF Inc. beneficially owns
849,992 shares of the Stock, approximately 6.0%, 11.1% and 11.1%, respectively,
of the aggregate number of shares outstanding as of July 25, 1997.
<PAGE>
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CUSIP NO. 87156 R 109 13D Page 6 of 7 Pages
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(b) BVF shares voting and dispositive power over the 458,592 shares of the
Stock it beneficially owns with Partners. Partners and BVF Inc. share voting
and dispositive power over the 849,992 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"), 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 60 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 60 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. 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. 87156 R 109 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 Amendment is true, complete and
correct.
Dated: July 25, 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, 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: July 25, 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 LAST 60 DAYS
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<TABLE>
<CAPTION>
Settlement By For the Quantity Price Type of Trade Broker
Date -- Account of -------- per ------------- ------
- ---------- ---------- Share
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=======================================================================================
<S> <C> <C> <C> <C> <C> <C>
05/16/97 Partners BVF Ltd. 4,000 $12.6250 Purchase VECT
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05/16/97 Partners ILL10 1,000 $12.6250 Purchase VECT
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05/21/97 Partners BVF Ltd. 5,600 $12.5130 Purchase VECT
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05/21/97 Partners ILL10 2,000 $12.5130 Purchase VECT
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05/21/97 Partners PAL 1,400 $12.5130 Purchase VECT
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05/21/97 Partners ZPG 1,000 $12.5130 Purchase VECT
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05/27/97 Partners BVF Ltd. 5,000 $10.6250 Purchase MLCO
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05/27/97 Partners ILL10 2,500 $10.6250 Purchase MLCO
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06/24/97 Partners BVF 10,000 $13.3750 Purchase MLCO
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07/01/97 Partners BVF 2,866 $13.5000 Purchase MIST
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07/07/97 Partners BVF (26,300) $14.0000 Sale MIST
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07/08/97 Partners BVF Ltd. (7,000) $13.8750 Sale MIST
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07/08/97 Partners ILL10 (4,000) $13.8750 Sale MIST
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07/09/97 Partners BVF 92,000 $14.2500 Purchase VECT
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07/09/97 Partners BVF Ltd. 4,000 $14.2500 Purchase VECT
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07/09/97 Partners PAL 5,000 $14.2500 Purchase VECT
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07/09/97 Partners ZPG 4,000 $14.2500 Purchase VECT
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07/09/97 Partners ILL10 5,000 $14.2500 Purchase VECT
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</TABLE>
MLCO = Merrill Lynch & Co.
MIST = Mr. Stock
VECT = Vector Securities
