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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): DECEMBER 11, 1996
LXR BIOTECHNOLOGY INC.
(Exact name of Registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-12968 68-0282856
(Commission (IRS Employer
File Number) Identification No.)
1401 MARINA WAY SOUTH, RICHMOND, CA 94804
(Address of principal executive offices) (Zip code)
(510) 412-9100
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
This report on Form 8-K consists of 3 sequentially numbered pages.
Page 1
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ITEM 5: OTHER EVENTS.
On December 11-12, 1996, LXR Biotechnology Inc., a Delaware
corporation ("LXR"), raised approximately $7.6 million in gross proceeds in a
private placement of common stock at $2.00 per share, exclusive of placement
agent warrants and shares. LXR anticipates raising in the near future at least
$4.3 million, and up to a maximum of $7.4 million, in additional gross proceeds.
The net proceeds from the offering are expected to be used for research and
development and general working capital.
The securities offered in the private placement have not been
registered under the Securities Act of 1933 and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements.
LXR has entered into registration rights agreements in connection
with the private placement.
On December 13, 1996, LXR issued a press release setting forth the
text of the first two paragraphs above.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LXR BIOTECHNOLOGY INC.
Date: December 16, 1996 By: /s/ L. David Tomei
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L. David Tomei, Ph.D.
Chief Executive Officer
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