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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b)
TRANSCEND THERAPEUTICS, INC.
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(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE PER SHARE
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(Title of Class of Securities)
89353T 10 2
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(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).
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CUSIP NO. 89353T 10 2 13G PAGE 2
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1 NAMES OF REPORTING PERSONS: THE VENTURE CAPITAL FUND OF NEW ENGLAND III, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / / (b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
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5 SOLE VOTING POWER
368,764(1)
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY NONE
OWNED BY ------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 368,764(1)
WITH
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8 SHARED DISPOSITIVE POWER
NONE
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
368,764(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4%(2)
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12 TYPE OF REPORTING PERSON
PN
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(1) Includes shares issuable upon exercise of a warrant to purchase up to
5,027 shares of Common Stock at $10.00 per share.
(2) Based upon 5,758,649 shares of Common Stock outstanding as of
December 31, 1997.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 89353T 10 2 13G PAGE 3
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1 NAMES OF REPORTING PERSONS: FH & CO. III, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / / (b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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5 SOLE VOTING POWER
368,764(1)
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY NONE
OWNED BY ------------------------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 368,764(1)
WITH
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8 SHARED DISPOSITIVE POWER
NONE
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
368,764(1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4%(2)
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12 TYPE OF REPORTING PERSON
PN
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(1) Consists of shares owned by The Venture Capital Fund of New
England III, L.P., of which FH & Co. III, L.P. is a general partner.
Includes shares issuable upon exercise of a warrant to purchase up to
5,027 shares of Common Stock at $10.00 per share.
(2) Based upon 5,758,649 shares of Common Stock outstanding as of
December 31, 1997.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13G Page 4
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Item 1: (a) Name of Issuer: Transcend Therapeutics, Inc., a Delaware
corporation (the "Company")
(b) Address of Issuer's Principal Executive Offices:
640 Memorial Drive
Cambridge, Massachusetts 02139
Item 2: (a) Name of Persons Filing:
The Venture Capital Fund of New England III, L.P. ("VCFNE")
FH & Co. III, L.P. ("FH & Co.")
(b) Address of Principal Business Office or, if none, Residence:
160 Federal Street, 23rd Floor
Boston, Massachusetts 02110
(as to both VCFNE and FH & Co.)
(c) Citizenship:
VCFNE and FH & Co. are both Massachusetts limited
partnerships.
(d) Title of Class of Securities:
Common Stock, $.01 par value per share, of Transcend
Therapeutics, Inc.
(e) CUSIP Number: 89353T 10 2.
Item 3: If this statement is filed pursuant to rules 13d-1(b) or
13d-2(b) . . .
Not Applicable
Item 4: Ownership.
(a) Amount Beneficially Owned: COMMON STOCK
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VCFNE 368,764
FH & CO. 368,764
(b) Percent of Class: PERCENTAGE
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VCFNE 6.4%
FH & CO. 6.4%
(c) VCFNE, a Massachusetts limited partnership, has sole power to
direct the vote, and sole power to dispose or direct the
disposition, of the 368,764 shares reported herein, which
power is exercised on its behalf by FH & Co., a Massachusetts
limited partnership and the sole general partner of VCFNE.
Such number of shares includes, pursuant to Rule 13d-3, 5,027
shares of Common Stock issuable upon exercise of a warrant to
purchase such shares at $10.00 per share. The four general
partners of FH & Co. share the power to direct the vote, and
share the power to dispose or direct the disposition, of the
368,764 shares reported herein.
Item 5: Ownership of five percent or less of a class: Not Applicable.
Item 6: Ownership of more than five percent on behalf of another
person: Not Applicable.
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SCHEDULE 13G Page 5
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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
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, each of the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: January 16, 1998
THE VENTURE CAPITAL FUND OF NEW ENGLAND III, L.P.
By: FH & CO. III, L.P.
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General Partner
By: /s/ William C. Mills III
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William C. Mills III
General Partner
FH & CO. III, L.P.
By: /s/ William C. Mills III
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William C. Mills III
General Partner
