--------------------------------
PAGE __1__ OF __9_ PAGES
--------------------------------
--------------------------------
OMB APPROVAL
--------------------------------
OMB Number: 3235-0145
Expires: December 31, 1997
Estimated average burden hours
per
response...................14.90
--------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
CoCensys, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.001 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
0001912631
- --------------------------------------------------------------------------------
(CUSIP Number)
Stephen T. Mears, Testa, Hurwitz & Thibeault, LLP, 125 High Street
Boston, MA 02110 (617) 248-7000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
Statement is being filed to reflect ownership of less than 5% of the
class - see Item 5(e).
- --------------------------------------------------------------------------------
(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 [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
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.
*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 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 ("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).
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 0001912631 Page 2 of 9 Pages
- --------------------------------------------------------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Biotechnology Venture Fund, S.A. in Voluntary Liquidation
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Luxembourg
- ---------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 570,000
-------- ------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- ------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 570,000
-------- ------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ---------- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,070,674
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES*
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON *
CO
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 0001912631 Page 3 of 9 Pages
- --------------------------------------------------------------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Abingworth Bioventures SICAV
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 SOURCE OF FUNDS* [ ]
N/A
- ---------- ---------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
- ---------- ---------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Luxembourg
- ---------- ---------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 500,674
-------- ------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- ------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 500,674
-------- ------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ---------------------------- -------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,070,674
- ---------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
SHARES*
- ---------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- ---------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON *
CO
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
SCHEDULE 13D
Item 1. Security and Issuer.
This statement relates to the shares of Common Stock, $.001 par value
per share (the "Shares"), of CoCensys, Inc. (the "Issuer") having its principal
executive office at 213 Technology Drive, Irvine, CA 92618.
Item 2. Identity and Background.
This statement is being filed by Biotechnology Venture Fund, S.A. in
Voluntary Liquidation ("Biotechnology") and Abingworth Bioventures SICAV
("ABS"). Each of Biotechnology and ABS is a corporation organized under the laws
of Luxembourg with its principal business and principal office located at 231
Val des Bons Malades, L-2121 Luxembourg-Kirchberg. The principal business of
each of Biotechnology and ABS is venture capital.
The directors and executive officers of ABS and the liquidators of
Biotechnology are Jacques Bemberg, M. Rose Dock, Paul Meyers, Karl U. Sanne and
Jean Welter (collectively, the "Directors").
Mr. Bemberg resides at 38, avenue de l'Elysee, 1006 Lausanne,
Switzerland. Mr. Bemberg is a director of various companies. Mr. Bemberg is a
citizen of France.
Ms. Dock's business address is Sanne & Cie Sarl, 231 Val des Bons
Malades, L-2121 Luxembourg-Kirchberg. She is general manager and a director of
Sanne & Cie Sarl, a trustee and fiduciary services firm. Ms. Dock is a citizen
of Luxembourg.
Mr. Meyers is the managing director of Banque Generale du Luxembourg
S.A., located at 27 avenue Monterey, L-2951 Luxembourg. Mr. Meyers is a citizen
of Luxembourg.
Mr. Sanne is managing director of Sanne & Cie Sarl, a trustee and
fiduciary services firm, located at 231 Val des Bons Malades, L-2121,
Luxembourg-Kirchberg. He is a citizen of Norway.
Mr. Welter is a lawyer located at 100 Boulevard de la Petrusse, L-2320
Luxembourg, and a citizen of Luxembourg.
During the five years prior to the date hereof, neither Biotechnology,
ABS nor any of the Directors has been convicted in a criminal proceeding or has
been a party to a civil proceeding ending in a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Not applicable. This statement is being filed to report dispositions of
Shares.
Item 4. Purpose of Transaction.
This statement is being filed to report dispositions of Shares.
Depending on market conditions, their continuing evaluation of the business and
prospects of the Issuer and other factors,
Page 4 of 9 Pages
ABS and/or Biotechnology may dispose of or acquire additional Shares. Except as
set forth above, neither ABS, Biotechnology nor any of the Directors has any
present plans which relate to or would result in:
(a) The acquisition by any person of additional securities of the
Issuer, or the disposition of securities of the Issuer;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any of
its subsidiaries;
(c) A sale or transfer of material amount of assets of the Issuer
or any of its subsidiaries;
(d) Any change in the present board of directors or management of
the Issuer, including any plans or proposals to change the
number or term of directors or to fill any existing vacancies
on the board;
(e) Any material change in the present capitalization or dividend
policy of the Issuer;
(f) Any other material change in the Issuer's business or
corporate structure;
(g) Changes in the Issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the
acquisition of control of the Issuer by any person;
(h) Causing a class of securities of the Issuer to be delisted
from a national securities exchange or to cease to be
authorized to be quoted in an inter-dealer quotation system of
a registered national securities association;
(i) A class of equity securities of the Issuer becoming eligible
for termination of registration pursuant to section 12(g)(4)
of the Securities Exchange Act of 1934; or
(j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
(a) Biotechnology and ABS may be deemed to beneficially own
1,070,674 Shares as of the date hereof. Biotechnology is the
record owner of 570,000 Shares (the "Biotechnology Shares").
ABS is the record owner of 376,384 Shares (the "ABS Shares").
In addition, ABS may be deemed to beneficially own the 124,290
Shares (the "Warrant Shares") issuable to ABS upon the
exercise of currently exercisable warrants which ABS holds of
record. (The Biotechnology Shares, the ABS Shares and the
Warrant Shares are referred to collectively herein as the
"Record Shares"). By virtue of their relationship as
affiliated corporations with the same individuals as directors
or liquidators, Biotechnology and ABS may be deemed to share
the power to direct the vote and the power to direct the
disposition of the Record Shares. Hence, each of Biotechnology
and ABS may be deemed to beneficially own 1,070,674 Shares,
representing beneficial ownership of approximately 4.8% of the
Issuer's issued and outstanding Common Stock based
Page 5 of 9 Pages
on the 22,014,656 Shares of the Issuer reported to be
outstanding in the quarterly report on Form 10-Q of the Issuer
for the quarter ended September 30, 1996, as adjusted pursuant
to Rule 13d-3(d)(1). However, each of Biotechnology and ABS
disclaims beneficial ownership of any Shares except for that
number of Shares that it holds of record or that are issuable
to it upon the exercise of warrants that it holds of record:
Biotechnology: 570,000 Shares; ABS: 500,674 Shares.
None of the Directors beneficially owns any Shares of the
Issuer.
(b) Regarding the number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
Biotechnology: 570,000 Shares; ABS: 500,674 Shares;
Each of the Directors: -0- Shares.
(ii) shared power to vote or to direct the vote:
Biotechnology: -0- Shares; ABS: -0- Shares;
Each of the Directors: -0- Shares.
(iii) sole power to dispose or to direct the disposition:
Biotechnology: 570,000 Shares; ABS: 500,674 Shares;
Each of the Directors: -0- Shares.
(iv) shared power to dispose or to direct the disposition:
Biotechnology: -0- Shares; ABS: -0- Shares;
Each of the Directors: -0- Shares.
(c) During the 60 days prior to the date hereof, ABS sold the
following amounts of Shares in the open market on the following
dates at the following per share prices:
Date Shares Price Per Share
---- ------ ---------------
November 25, 1996 5,000 $6.00
November 26, 1996 32,900 $6.00
November 27, 1996 12,100 $6.0625
December 3, 1996 15,300 $6.00
December 4, 1996 5,300 $6.00
December 5, 1996 6,600 $6.00
December 11, 1996 6,800 $6.00
December 16, 1996 11,000 $6.00
December 17, 1996 5,000 $6.00
(d) No other person is known to have the right to receive or the
power to direct the receipt of dividends from, or any proceeds
from the sale of, Shares beneficially owned by Biotechnology
and ABS.
Page 6 of 9 Pages
(e) Biotechnology and ABS ceased to be the beneficial owner of
more than five percent of the Shares on December 3, 1996.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Except as described elsewhere herein, there are no contracts,
arrangements, understandings or relationships (legal or otherwise) among
Biotechnology, ABS and the Directors or between any such persons and any other
person with respect to any Shares, including but not limited to the transfer or
voting of any of the Shares, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or
losses or the giving or withholding of proxies.
Item 7. Material to be Filed as Exhibits.
Exhibit 1 - Agreement regarding filing of joint Schedule 13D.
Page 7 of 9 Pages
SIGNATURE
---------
After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: December 24, 1996
BIOTECHNOLOGY VENTURE FUND, S.A. (i.l.)
By: /s/ Karl U. Sanne
----------------------------------------------------
Name: Karl U. Sanne
Title: Liquidator
By: /s/ Fernand Heim
----------------------------------------------------
Name: Fernand Heim
Title: Mandatory
ABINGWORTH BIOVENTURES SICAV
By: /s/ Karl U. Sanne
----------------------------------------------------
Name: Karl U. Sanne
Title: Director
By: /s/ Fernand Heim
----------------------------------------------------
Name: Fernand Heim
Title: Mandatory
Page 8 of 9 Pages
Exhibit 1
---------
AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13D need be filed with respect to the ownership by each of
the undersigned of shares of stock of CoCensys, Inc.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
EXECUTED this 24th day of December, 1996.
BIOTECHNOLOGY VENTURE FUND, S.A. (i.l.)
By: /s/ Karl U. Sanne
-----------------------------------------------------
Name: Karl U. Sanne
Title: Liquidator
By: /s/ Fernand Heim
----------------------------------------------------
Name: Fernand Heim
Title: Mandatory
ABINGWORTH BIOVENTURES SICAV
By: /s/ Karl U. Sanne
----------------------------------------------------
Name: Karl U. Sanne
Title: Director
By: /s/ Fernand Heim
----------------------------------------------------
Name: Fernand Heim
Title: Mandatory
209STM141/1.300182-1
Page 9 of 9 Pages
