<PAGE> 1
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), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. 2) (1)
Valentis, Inc. (formerly Megabios Corporation)
(Name of Issuer)
Common Stock, par value $.001 per share
(Title of Class of Securities)
58515T102
(CUSIP Number)
December 31, 1999
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|_| Rule 13d-1(c)
|X| Rule 13d-1(d)
(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 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).
<PAGE> 2
SCHEDULE 13G
- ------------------- ------------------
CUSIP NO. 58515T102 Page 2 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
MAYFIELD VII, A CALIFORNIA LIMITED PARTNERSHIP
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 817,505
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON -0-
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
817,505
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
817,505
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.1%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE> 3
13G
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CUSIP NO. 58515T102 Page 3 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
MAYFIELD VII MANAGEMENT PARTNERS, A CALIFORNIA LIMITED PARTNERSHIP
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 817,505
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON -0-
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
817,505
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
817,505
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.1%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE> 4
13G
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CUSIP NO. 58515T102 Page 4 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
MAYFIELD ASSOCIATES FUND II, A CALIFORNIA LIMITED PARTNERSHIP
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 31,163
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON -0-
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
31,163
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,163
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.1%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
<PAGE> 5
13G
- ------------------- ------------------
CUSIP NO. 58515T102 Page 5 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
YOGEN K. DALAL
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
8,120
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 848,668
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 8,120
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
848,668
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
856,788
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.2%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 6
13G
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CUSIP NO. 58515T102 Page 6 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
F. GIBSON MYERS, JR.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
19,530
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 848,668
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 19,530
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
848,668
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
868,198
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.3%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 7
13G
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CUSIP NO. 58515T102 Page 7 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
KEVIN A. FONG
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
12,319
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 848,668
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 12,319
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
848,668
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
860,987
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.3%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 8
13G
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CUSIP NO. 58515T102 Page 8 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
WILLIAM D. UNGER
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
11,582
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 848,668
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 11,582
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
848,668
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
860,250
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.3%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 9
13G
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CUSIP NO. 58515T102 Page 9 of 17 Pages
- ------------------- ------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
WENDELL G. VAN AUKEN, III
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 848,668
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON -0-
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
848,668
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
848,668
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.2%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 10
13G
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CUSIP NO. 58515T102 Page 10 of 17 Pages
- ------------------- -------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
MICHAEL J. LEVINTHAL
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
12,319
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 848,668
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 12,319
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
848,668
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
860,987
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.3%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 11
13G
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CUSIP NO. 58515T102 Page 11 of 17 Pages
- ------------------- -------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
A. GRANT HEIDRICH, III
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
5. SOLE VOTING POWER
19,530
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 848,668
OWNED BY -------------------------------------------------------------
EACH REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 19,530
WITH -------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
848,668
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
868,198
- --------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.3%
- --------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 12
ITEM 1.
(a) NAME OF ISSUER:
Valentis, Inc. (formerly Megabios Corporation)
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
863 A Mitten Road
Burlingame, CA 94010
ITEM 2.
(a) NAME OF PERSONS FILING:
Mayfield VII, a California Limited Partnership
Mayfield VII Management Partners, a California Limited Partnership
Mayfield Associates Fund II, a California Limited Partnership
Yogen K. Dalal
Kevin A. Fong
Wendell G. Van Auken, III
A. Grant Heidrich, III
F. Gibson Myers, Jr.
William D. Unger
Michael J. Levinthal
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
c/o Mayfield Fund
2800 Sand Hill Road
Menlo Park, CA 94025
(c) CITIZENSHIP:
The entities listed in Item 2(a) are California Partnerships.
The individuals listed in Item 2(a) are U.S. citizens.
(d) TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.001 per share.
(e) CUSIP NUMBER:
58515T102
Page 12 of 17 pages.
<PAGE> 13
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13d-2(b), CHECK
WHETHER THE PERSON FILING IS A:
Not applicable
ITEM 4. OWNERSHIP
The information regarding ownership as set forth in Items 5-9
of Pages 2-11 hereto, is hereby incorporated by reference.
For a summary of total ownership by all Reporting Persons, see
Exhibit 2 hereto.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [X].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not applicable.
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.
Page 13 of 17 pages.
<PAGE> 14
SIGNATURES
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.
Date: February 14, 2000
MAYFIELD VII
A California Limited Partnership
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Authorized Signatory
By: MAYFIELD VII MANAGEMENT PARTNERS
A California Limited Partnership
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Authorized Signatory
By: MAYFIELD ASSOCIATES FUND II
A California Limited Partnership
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Authorized Signatory
YOGEN K. DALAL
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Attorney In Fact
F. GIBSON MYERS, JR.
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Attorney In Fact
KEVIN A. FONG
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Attorney In Fact
WILLIAM D. UNGER
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Attorney In Fact
Page 14 of 17 pages.
<PAGE> 15
WENDELL G. VAN AUKEN, III
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Attorney In Fact
MICHAEL J. LEVINTHAL
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Attorney In Fact
A. GRANT HEIDRICH, III
By: /s/ George A. Pavlov
----------------------------------------------
George A. Pavlov, Attorney In Fact
Page 15 of 17 pages.
<PAGE> 16
EXHIBIT 1
Exhibit 1- "Statement Appointing Designated Filer and Authorized
Signatory" is hereby incorporated by reference to Exhibit 1 to
the Statement on Schedule 13G dated February 17, 1998.
Page 16 of 17 pages.
<PAGE> 17
EXHIBIT 2
<TABLE>
<CAPTION>
PERCENT OF CLASS
NAME OF REPORTING PERSON NUMBER OF SHARES(5) BENEFICIALLY OWNED(1)
- ----------------------------------- ------------------- ---------------------
<S> <C> <C>
Mayfield VII,
a California Limited Partnership 817,505 (2) 3.1%
Mayfield VII Management Partners, a
California Limited Partnership 817,505 (2) 3.1%
Mayfield Associates Fund II , a 31,163 (3) 0.1%
California Limited Partnership
Yogen K. Dalal 856,788 (4) 3.2%
F. Gibson Myers, Jr. 868,198 (4) 3.3%
Kevin A. Fong 860,987 (4) 3.3%
William D. Unger 860,250 (4) 3.3%
Wendell G. Van Auken, III 848,668 (4) 3.2%
Michael J. Levinthal 860,987 (4) 3.3%
A. Grant Heidrich, III 868,198 (4) 3.3%
Total 932,068 3.5%
</TABLE>
(1) The respective percentages set forth in this column were obtained by
dividing the number of shares by the aggregate number of outstanding shares of
Common Stock, par value $.001 as of October 31, 1999 as reported in the issuer's
Form 10-Q for the quarter ended September 30, 1999.
(2) Represents shares held of record by Mayfield VII, of which Mayfield VII
Management Partners is the sole General Partner.
(3) Represents shares held of record by Mayfield Associates Fund II.
(4) The individual Reporting Persons are General Partners of Mayfield VII
Management Partners, which is the General Partner of Mayfield VII. The
individual Reporting Persons are also General Partners of Mayfield Associates
Fund II. The individual Reporting Persons may be deemed to have shared voting
and dispositive power over the shares which are or may be deemed to be
beneficially owned by Mayfield VII Management Partners and Mayfield Associates
Fund II, but disclaim such beneficial ownership. Each individual Reporting
Person expressly disclaims that he is the beneficial owner of any shares which
are held by any other individual Reporting Person in his individual capacity.
(5) Each individual Reporting Person expressly disclaims that he is the
beneficial owner of any shares which are held by any other individual Reporting
Person in his individual capacity. Certain shares held directly by the
individual Reporting Persons are held by them as trustee.
Page 17 of 17 pages.
