<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )
---
TARGETED GENETICS CORPORATION
- ------------------------------------------------------------------------------
(NAME OF ISSUER)
COMMON SHARES
- ------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
876 12M 108
-----------------------
(CUSIP NUMBER)
GINETTE DEPELTEAU, SOFINOV SOCIETE FINANCIERE D'INNOVATION INC.
1981 MCGILL COLLEGE AVENUE, MONTREAL (QUEBEC), H3A 3C7 TEL.: (514) 847-5901
- -------------------------------------------------------------------------------
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
DECEMBER 10, 1999
--------------------------
(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 filed 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 (howerev,
see the Notes).
(Continued on following page(s))
Page 1 of 15 Pages
------
<PAGE>
- --------------------- ------------------------------
CUSIP NO. 876 12M 108 13D PAGE 2 OF 15 PAGES
----- -----
- --------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SOFINOV SOCIETE FINANCIERE D'INNOVATION INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
MONTREAL (QUEBEC) CANADA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
3,997,500 COMMON SHARES (INCLUDES 1,333,333
SHARES OF COMMON STOCK OF THE COMPANY ISSUABLE
UPON EXERCICE OF A WARRANT. SEE ITEM 4 BELOW)
---------------------------------------------------------
NUMBER OF 8 SHARES VOTING POWER
SHARES
BENEFICIALLY
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 3,997,500 COMMON SHARES
WITH ---------------------------------------------------------
10 SHARES DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,997,500 COMMON SHARES
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.54%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
AMENDMENT NO. 1
This Amendment No. 1, dated December 10, 1999, to the
statement on Schedule 13D filed in hard copies with the Securities and
Exchange Commission (the "SEC") on April 30, 1998, is being filed jointly on
behalf of Caisse de depot et placement du Quebec ("CDPQ") and by its
wholly-owned subsidiary, SOFINOV, Societe financiere d'innovation, inc.
("Sofinov") pursuant to Rule 13d-2(a) under the Securities Exchange Act of
1934, as amended (the "Exchange Act") pursuant to a Joint Filing Agreement
dated December 10, 1999, between CDPQ and Sofinov, a copy of which is
attached hereto as Exhibit 1.
Because this Amendment No. 1 is the first electronic filing
via Edgar, the Schedule 13D is hereby amended and restated as follows:
ITEM 1 - SECURITY AND ISSUER
This schedule 13D relates to the Common Stock, par value
$0.01 per share ("Common Stock") of Targeted Genetics Corporation
("Targeted"), a Washington corporation (the "Company"). The address of the
principal executive offices of the Company is 1100 Olive Way, Seattle, WA,
98101.
ITEM 2 - IDENTITY AND BACKGROUND
This Schedule 13D is filed jointly on behalf of CDPQ, a
corporation without share capital and an agent of the Crown in right of the
Province de Quebec, created by a special act of the Legislature of the
Province de Quebec, and Sofinov, a legal entity duly incorporated under part
1A of the Companies ACT (Quebec) and a wholly-owned subsidiary of CDPQ,
pursuant to Rule 13d-1(f)(1) under the Exchange Act.
The principal business address and the principal office
address of each of CDPQ and Sofinov is 1981, Avenue McGill College, Suite
1330, Montreal, Quebec, H3A 3C7, Canada. The name, business address,
citizenship and present principal occupation of each director and executive
officer of CDPQ and Sofinov are set forth on Schedule I.
To the best knowledge of CDPQ and Sofinov, none of the
persons listed on Schedule I has, during the last five years, (i) been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
United States federal or state securities laws or finding any violation with
respect to such laws.
3
<PAGE>
ITEM 3 - SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
All the funds required to purchase the Initial Shares (as
defined below) were obtained from the working capital of Sofinov.
ITEM 4 - PURPOSE OF TRANSACTION
Pursuant to a Purchase Agreement (the "Purchase Agreement")
dated April 17, 1998, Sofinov acquired beneficial ownership of 4,000,000
shares of Common Stock in a private placement through (i) the purchase of
2,666,667 shares of Common Stock (the "Initial Shares") with an exercise
price as set forth in Exhibit 3 for an aggregate purchase price of
US$4,000,000.50 (the "Purchase Price") and (ii) the granting by the Company
to Sofinov of a warrant (the "Warrant") exercisable in whole or in part into
1,333,333 shares of Common Stock (the "Warrant Shares") with an expiration
date of April 17, 2003.
Pursuant to the exercise of certain registration rights
granted to Sofinov in connection with the private placement, the Initial
Shares and the Warrant Shares were registered for resale by Sofinov on a
Registration Statement on Form S-3 which was filed with the SEC on April 30,
1998.
On December 10, 1999, Sofinov sold 2,500 Initial Shares
for US$10,625, as set forth on Exhibit 2.
Except as specifically set forth in this Item 4, neither
CDPQ nor Sofinov has any plans or proposals which relate to or would result
in any of the actions or effects set forth in items (a) through (e) of Item 5
of Schedule 13D, although either of them may develop such plans or proposals.
CDPQ and Sofinov intend to review on a continuing basis
their investment in the Company. As of the date of this Schedule 13D, no
determination has been made by CDPQ or Sofinov to acquire additional shares
of Common Stock or dispose of any shares of Common Stock now held by them,
although either of them may decide to so acquire or dispose of shares of
Common Stock. Any such determination will depend on market conditions
prevailing from time to time and on other conditions which may be applicable
depending on the nature of the transaction or transactions involved.
4
<PAGE>
ITEM 5 - INTEREST IN SECURITIES OF ISSUER
(a) Sofinov is the direct beneficial owner of 3,997,500
shares of Common Stock (including the Warrant Shares)(the "Sofinov Shares").
CDPQ may be deemed to be the indirect, beneficial owner of the Sofinov
Shares. The Sofinov Shares represent approximately 11.54% of the 33,322,000
shares of Common Stock of the Company outstanding on the date hereof, based
upon information provided by the company, plus the Warrant Shares.
(b) CDPQ has the power to vote and dispose of the
Sofinov Shares.
(c) Except as set forth in this Schedule 13D, none of
CDPQ, Sofinov or, to the best knowledge of CDPQ or Sofinov, any person named
on Schedule I hereto, owns any shares of the Company's Common Stock, and none
has purchased or sold any shares of the Company's Common Stock during the
past 60 days.
(d) Except as set forth in this Schedule 13D, no person
is known by CDPQ or Sofinov to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, the
shares of Common Stock of the Company beneficially owned by CDPQ and Sofinov.
(e) Not applicable.
ITEM 6 - CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Except as set forth in this Schedule 13D, there are no
contracts, arrangements, understandings or relationships (legal or otherwise)
among the persons referred to in Item 2 of this Schedule 13D or between such
persons and any other person with respect to any of the securities of the
Company, including, but not limited to, any relating to the transfer or
voting of any of such securities, finder's fees, joint ventures, loan or
option arrangements, puts or calls, guarantees of profits, division of
profits or loss or the giving or withholding of proxies.
ITEM 7 - MATERIAL TO BE FILED AS EXHIBITS
1. Joint Filing Agreement dated December 10, 1999 by and
between Sofinov and CDPQ.
2. Joint Filing Table of Dates, Number of Shares sold and
price per Share of Sales
3. Joint Filing Table of Purchases of Targeted Genetics
Corporation.
5
<PAGE>
SIGNATURES
After reasonable inquiry and to the best knowledge and
belief of the undersigned, the undersigned certifies that the information set
forth in this statement is true, complete and correct.
Date: December 10, 1999
SOFINOV SOCIETE FINANCIERE D'INNOVATION INC.
By: /s/ Ginette Depelteau
------------------------------------
Name: Ginette Depelteau
Title: Corporate Secretary
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC.
By: /s/ Ginette Depelteau
------------------------------------
Name: Ginette Depelteau
Title: General Secretary - Director
6
<PAGE>
SCHEDULE I
LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF SOFINOV
<TABLE>
<CAPTION>
DIRECTORS BUSINESS ADDRESS PRINCIPAL OCCUPATION
<S> <C> <C>
Jean-Claude Scraire Caisse de depot et placement du Quebec Chairman
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Line Boisvert Caisse de depot et placement du Quebec Director and
1981, Avenue McGill College Portfolio Manager
Montreal (Quebec) H3A 3C7
Jacques M. Brault Levesque Beaubien Geoffrion Inc. Senior
1155, Metcalfe, 5e etage Vice-President
Montreal, (Qubec) H3B 4S9
Denis Dionne SOFINOV, Societe financiere d'innovation, inc. President
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Claude Lajeunesse Ryerson Polytechnic University President and Vice
350, Victoria Street Chancellor
Toronto (Ontario) H2M 2V1
Serge Martin Martin International President
500, Place d'Armes, Suite 2910
Montreal, (Qubec) H2Y 2W2
Guy Morneau Regie des rentes du Quebec Chairman of the
2600 boul. Laurieir, bureau 546 Board and President
Qubec (Qubec) G1V 4T3
Normand Provost Caisse de depot et placement du Quebec Vice-President
1981, Avenue McGill College Coordinator
Montreal (Quebec) H3A 3C7
7
<PAGE>
SCHEDULE 1
LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF SOFINOV
<CAPTION>
OFFICERS BUSINESS ADDRESS PRINCIPAL OCCUPATION
<S> <C> <C>
Jean-Claude Scraire Caisse de depot et placement du Quebec Chairman
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Denis Dionne SOFINOV, Societe financiere d'innovation, inc. President
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Pierre Pharand SOFINOV, Societe financiere d'innovation, inc. Vice-President
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
Bertrand Lauzon Caisse de depot et placement du Quebec Vice-President,
1981, Avenue McGill College Finance and Control
Montreal (Quebec) H3A 3C7
Ginette Depelteau Caisse de depot et placement du Quebec Secretary
1981, Avenue McGill College
Montreal (Quebec) H3A 3C7
</TABLE>
8
<PAGE>
SCHEDULE 1
LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF CDPQ
<TABLE>
<CAPTION>
DIRECTORS BUSINESS ADDRESS PRINCIPAL OCCUPATION
<S> <C> <C>
Jean-Claude Scraire Caisse de depot et placement du Quebec Chairman
1981, avenue McGill College
Montreal (Quebec) H3A 3C7
Guy Morneau Regie des rentes du Quebec Chairman of the Board
2600, boul. Laurier, bureau 546 and President
Quebec (Quebec) G1V 4T3
Jean-Claude Bachand Byers Casgrain Lawyer
1, Place Ville-Marie
Bureau 3900
Montreal (Quebec) H3B 4M7
Claude Beland La Confederation des Caisses populaires et President
d'economie Desjardins du Quebec
100, avenue des Commandeurs
Levis (Quebec) G6V 7N5
Luc Bessette Commission administrative des regimes President
de retraite et d'assurances
475, rue Saint-Amable
Quebec (Quebec) G1R 5X3
Rodrigue Biron Rodrigue Biron & Associes
305, chemin de la Place St-Laurent
St-Augustin-de-Desmaures
Cap-Rouge (Quebec) G1Y 3G9
Yves Filion Hydro-Quebec Deputy Chief
75, boul. Rene-Levesque Ouest Executive Officer
Montreal (Quebec) and Chief Financial
H2Z 1A4 Officer
Jean-Yves Gagnon Societe de l'assurance automobile du Quebec General Manager
333, boul. Jean-Lesage
Quebec (Quebec) G1K 8J6
9
<PAGE>
<CAPTION>
DIRECTORS BUSINESS ADDRESS PRINCIPAL OCCUPATION
<S> <C> <C>
Henri Masse Federation des travailleurs et travailleuses du President
Quebec
545, boul. Cremazie Est, 17e etage
Montreal, (Quebec) H2M 2V1
Gilles Godbout Ministere des Finances Deputy Minister
12, rue St-Louis
Quebec (Quebec) G1R 5L3
Thomas O. Hecht Technologies IBEX Inc. Chairman Emeritus
5485, rue Pare
Montreal (Quebec) H4P 1P7
Gerald Larose Confederation des syndicats nationaux
1601, rue Delorimier
Montreal (Quebec) H2K 4M5
Nicole Trudeau Commission municipale du Quebec Vice-President
2, Complexe Desjardins
Suite 3100, East Tower
Montreal (Quebec) H5B 1B2
10
<PAGE>
SCHEDULE 1
LIST OF EXECUTIVE OFFICERS AND DIRECTORS OF CDPQ
<CAPTION>
OFFICERS BUSINESS ADDRESS PRINCIPAL OCCUPATION
<S> <C> <C>
Jean-Claude Scraire Caisse de depot et placement du Quebec Chairman
1981, avenue McGill College
Montreal (Quebec) H3A 3C7
Fernand Perreault Same Senior Vice-president
Caisse Real Estate Group
and Mortgage Investments
Michel Nadeau Same Senior Vice-president
Investment Planning and
Strategic Affairs
Ginette Depelteau Same General Secretary -
Director
</TABLE>
11
<PAGE>
EXHIBIT INDEX
-------------
EXHIBIT
- -------
1. Joint Filing Agreement dated December 10, 1999 by and between Sofinov
and CDPQ.
2. Joint Filing Table of Dates, Number of Shares sold and price per Share
of Sales
3. Joint Filing Table of Purchases of Targeted Genetics Corporation.
12
<PAGE>
EXHIBIT 1
AGREEMENT
---------
The undersigned hereby agree that this statement on
Schedule 13D with respect to beneficial ownership of shares of common stock
of Cubist Pharmaceuticals, Inc. is filed jointly, on behalf of each of them.
Dated: December 10, 1999
SOFINOV, SOCIETE FINANCIERE D'INNOVATION, INC.
By: /s/ Denis Dionne
---------------------------------
Name: Denis Dionne
Title: President
By: /s/ Ginette Depelteau
---------------------------------
Name: Ginette Depelteau
Title: Corporate Secretary
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC.
By: /s/ Michel Nadeau
---------------------------------
Name: Michel Nadeau
Title: Senior Vice-president
Investment Planning and Strategic Affairs
By: /s/ Ginette Depelteau
---------------------------------
Name: Ginette Depelteau
Title: General Secretary - Director
13
<PAGE>
EXHIBIT 2
- -------------------------------------------------------------------------------
TABLE OF SALES OF
TARGETED GENETICS INC.
- -------------------------------------------------------------------------------
SALES
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PRICE PER SHARE
DATE NUMBER OF SHARES IN CANADIAN DOLLARS
- ---- ---------------- -------------------
<S> <C> <C>
DECEMBER
9 2,500 6.27 *
</TABLE>
* Sales effected in United State
14
<PAGE>
EXHIBIT 3
- -------------------------------------------------------------------------------
TABLE OF PURCHASES OF
- -------------------------------------------------------------------------------
TARGETED GENETICS CORPORATION SHARES
EFFECTED BY PRIVATE INVESTMENT
- -------------------------------------------------------------------------------
PURCHASES OF COMMON SHARES
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PRICE PER SHARE
DATE NUMBER OF SHARES IN U.S. DOLLARS
- ---- ---------------- ---------------
<S> <C> <C>
APRIL
17 2,666,667 1.50 *
</TABLE>
15
