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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities and Exchange Act of 1934
(Amendment No. 2)*
COLLABORATIVE CLINICAL RESEARCH
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
194190 10 4
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(CUSIP Number)
Check the following box if a fee is being paid with this statement ( ).
(Continued on following page (s) )
(Page 1 of 6 Pages)
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CUSIP NO. 194190 10 4 13G PAGE 2 OF 6 PAGES
1 NAME OF REPORTING PERSON - Deltec Asset Management Corporation
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
I.R.S. No. 13-5133790
2 CHECK APPROPRIATE BOX IF A MEMBER OF GROUP * (A) ___
(B) (X)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION State of New York
5. SOLE VOTING POWER NOT APPLICABLE
6. SHARED VOTING POWER NOT APPLICABLE
7. SOLE DISPOSITIVE POWER NOT APPLICABLE
8. SHARED DISPOSITIVE POWER NOT APPLICABLE
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON NOT APPLICABLE
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES *
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 - NOT APPLICABLE
12. TYPE OF REPORTING PERSON* BD, IA, CO
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 10549
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SCHEDULE 13G UNDER THE SECURITIES
EXCHANGE ACT OF 1934
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Item 1. (a) Name of Issuer: Collaborative Clinical Research
(b) Address of Issuer's Principal Executive Offices:
20600 Chagrin Blvd
Suite 1050
Cleveland, OH 44122
Item 2. (a) Name of Person Filing:
Deltec Asset Management Corporation
(b) Address of Principal Business Office:
535 Madison Avenue
New York, NY 10022
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Item 2. (c) Citizenship: State of New York
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 194190 10 4
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) Broker Dealer registered under Section 15 of the Act (x)
(b) Bank as defined in Section 3(a)(6) of the Act,
(c) Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) Investment Company registered under Section 8 of the
Investment Company Act
(e) Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940, (x)
(f) Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F),
(g) Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G)
(h) Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
Item 4. Ownership
(a). Amount Beneficially Owned: NOT APPLICABLE - SEE ITEM 5
(b) Percent of Class: NOT APPLICABLE
(c) Number of shares to which such person has:
(i) sole power to vote or to direct to vote:
NOT APPLICABLE
(ii) shared power to vote or to direct the vote:
NOT APPLICABLE
(iii) sole power to dispose or to direct the disposition
of: NOT APPLICABLE
(iv) shared power to dispose or to direct the disposition
of: NOT APPLICABLE
Page 4 of 6 Pages
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Item 5. Ownership of Five Percent or Less of a Class:
This Amendment No. 2 to the Reporting Person's Statement on
Schedule 13G is being filed to report that, as of December 31, 1997,
and as of the date hereof, the Reporting Person owned no shares of
Collaborative Clinical Research, Inc.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person:
NOT APPLICABLE.
Item 7: Identification and Classification of Subsidiaries 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.
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Item 9. Notice of Dissolution of Group:
NOT APPLICABLE.
Item 10. Certification
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such securities
and were not acquired in connection with or as a participant in any transaction
having such purpose or effect.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement concerning
the undersigned is true, complete and correct.
Dated: January 26, 1998
DELTEC ASSET MANAGEMENT CORPORATION
By /s/ Stephen Zuppello
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Stephen Zuppello
Chief Operating Officer
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