<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
COCENSYS, INC.
--------------------------------------------------------
(Name of Issuer)
COMMON STOCK
--------------------------------------------------------
(Title of Class of Securities)
191263 10 2
--------------------------------------------------------
(CUSIP Number)
PETER E. JANSEN
COCENSYS, INC.
213 TECHNOLOGY DRIVE
IRVINE, CA 94112
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
FEBRUARY 12, 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 / /.
Check the following box if a fee is being paid with this 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 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).
(Continued on following page(s))
Page 1 of 15 Pages
<PAGE>
CUSIP No. 191263 10 2 13D Page 2 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Robert G. McNeil
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 159,658
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
2,302,915
--------------------------------------------------
(9) Sole Dispositive Power
159,658
--------------------------------------------------
(10) Shared Dispositive Power
2,302,915
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,462,573
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
10.9%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 191263 10 2 13D Page 3 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Fred A. Middleton
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 92,932
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
2,302,915
--------------------------------------------------
(9) Sole Dispositive Power
92,932
--------------------------------------------------
(10) Shared Dispositive Power
2,302,915
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
2,395,847
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
10.6%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 191263 10 2 13D Page 4 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Sanderling Venture Partners III, L.P.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 882,394
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
882,394
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
882,394
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
3.9%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 191263 10 2 13D Page 5 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Sanderling III Biomedical, L.P.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 179,601
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
179,601
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
179,601
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.8%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 191263 10 2 13D Page 6 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Sanderling III Limited Partnership
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Cayman Islands
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 465,247
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
465,247
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
465,247
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
2.1%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 191263 10 2 13D Page 7 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Sanderling Ventures Management
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 0
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
0
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
0
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 191263 10 2 13D Page 8 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Sanderling Venture Partners II, L.P.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 388,224
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
388,224
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
388,224
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.7%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 191263 10 2 13D Page 9 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Sanderling Ventures Limited, L.P.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Cayman Islands
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 196,815
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
196,815
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
196,815
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.9%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 191263 10 2 13D Page 10 of 15 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Sanderling Biomedical L.P.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 190,634
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting Power
0
--------------------------------------------------
(9) Sole Dispositive Power
190,634
--------------------------------------------------
(10) Shared Dispositive Power
0
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
190,634
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.8%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 11 of 15 Pages
ITEM 1. SECURITY AND ISSUER
Class of Securities: Common Stock
Issuer: CoCensys, Inc. ("Issuer")
Principal Address:: 213 Technology Drive
Irvine, CA 92718
ITEM 2. IDENTITY AND BACKGROUND
(a) Reporting Persons:
1. Robert G. McNeil ("McNeil")
2. Fred A. Middleton ("Middleton")
3. Sanderling Venture Partners III, L.P. ("SVPIII")
4. Sanderling III Biomedical, L.P. ("SIIIB")
5. Sanderling III Limited Partnership ("SIIILP")
vi. Sanderling Ventures Management ("SVM")
vii. Sanderling Venture Partners II, L.P. ("SVPII")
viii. Sanderling Ventures Limited, L.P. ("SVL")
ix. Sanderling Biomedical, L.P. ("SB"; together with persons
i through viii, the "Reporting Persons"; and together
with persons iii through viii, the "Venture Fund
Reporting Persons")
(b) Principal Business Address:
2730 Sand Hill Road, Suite 200
Menlo Park, CA 94025
(c) Principal Occupation/Principal Business:
McNeil: General Partner of each of the Venture Fund
Reporting Persons
Middleton: General Partner of each of the Venture Fund
Reporting Persons
SVPIII: Venture Capital Fund
SIIIB: Venture Capital Fund
SIIILP: Venture Capital Fund
SVM: Venture Capital Fund
SVPII: Venture Capital Fund
SVL: Venture Capital Fund
<PAGE>
Page 12 of 15 Pages
SB: Venture Capital Fund
(d) Not applicable.
(e) Not applicable.
(f) Citizenship or Place of Organization:
McNeil: USA
Middleton: USA
SVPIII: California
SIIIB: California
SIIILP: Cayman Islands
SVM: California
SVPII: California
SVL: Cayman Islands
SB: California
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Not applicable
ITEM 4. PURPOSE OF TRANSACTION
Not applicable
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
The following table sets forth certain information with respect to the
beneficial ownership of Issuer's common stock by the Reporting Persons. The
percentages set forth in the table reflect 22,516,863 shares outstanding as
certified to the Issuer on March 20, 1997 by the Issuer's transfer agent,
American Stock Transfer & Trust Company.
<PAGE>
Page 13 of 15 Pages
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
McNeil Middleton SVPIII SIIIB SIIILP SVM SVPII* SVL* SB
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Beneficial 2,462,573** 2,395,847 882,394 179,601 465,247 -0- 388,224 196,815 190,634
Ownership
- -----------------------------------------------------------------------------------------------------------------------------
Percentage of 10.9% 10.6% 3.9% 0.8% 2.1% -0- 1.7% 0.9% 0.8%
Class
- -----------------------------------------------------------------------------------------------------------------------------
Sole Voting 159,658 92,932 882,394 179,601 465,247 -0- 388,224 196,815 190,634
Power
- -----------------------------------------------------------------------------------------------------------------------------
Shared Voting 2,302,915 2,302,915 -0- -0- -0- -0- -0- -0- -0-
Power
- -----------------------------------------------------------------------------------------------------------------------------
Sole Dispositive 159,658 92,932 882,394 179,601 465,247 -0- 388,224 196,815 190,634
Power
- -----------------------------------------------------------------------------------------------------------------------------
Shared 2,302,915 2,302,915 -0- -0- -0- -0- -0- -0- -0-
Dispositive
Power
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
* The shares of Issuer Common Stock beneficially owned by these Reporting
Persons are subject to voluntary distribution from time to time at the
request of their respective limited partners.
** Includes options to acquire 60,000 shares of Issuer's Common Stock
44,000 of which are presently exercisable.
(c) See Item 3 above.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
To the best knowledge of the undersigned, there are no contracts,
understandings, arrangements, or relationships (legal or otherwise) giving
the persons named in Item 2 and between such persons and any person with
respect to the securities of Issuer, including, but not limited to, transfer
or voting of any of the Issuer's securities, finder's fees, joint ventures,
loan or option agreement, puts or calls, guarantees of profits, divisions of
profits or loss, or the giving or withholding of proxies.
ITEM 7. EXHIBITS.
Exhibit A: Joint Filing Statement.
<PAGE>
SIGNATURE
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.
/s/ Robert G. McNeil
- -----------------------------------
Robert G. McNeil
/s/ Fred A. Middleton
- -----------------------------------
Fred A. Middleton
Sanderling Venture Partners III, L.P.
Sanderling III Limited Partnership
Sanderling III Biomedical, L.P.
Sanderling Ventures Management
Sanderling Venture Partners II, L.P.
Sanderling Ventures Limited, L.P.
Sanderling Biomedical, L.P.
/s/ Fred A. Middleton
- -----------------------------------
Fred A. Middleton
General Partner
<PAGE>
EXHIBIT A
JOINT FILING STATEMENT
We, the undersigned, hereby express our agreement that the attached
Schedule 13D is filed on behalf of each of us.
/s/ Robert G. McNeil
- -----------------------------------
Robert G. McNeil
/s/ Fred A. Middleton
- -----------------------------------
Fred A. Middleton
Sanderling Venture Partners III, L.P.
Sanderling III Limited Partnership
Sanderling III Biomedical, L.P.
Sanderling Ventures Management
Sanderling Venture Partners II, L.P.
Sanderling Ventures Limited, L.P.
Sanderling Biomedical, L.P.
/s/ Fred A. Middleton
- -----------------------------------
Fred A. Middleton
General Partner
21278100
