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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Cadus Pharmaceutical Corporation
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(Name of Issuer)
Common Stock, $.01 Par Value
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(Title of Class of Securities)
127639-10-2
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(CUSIP Number)
Donald F. Parman, SmithKline Beecham Corporation
One Franklin Plaza, Philadelphia, PA 19102
Telephone 215-751-7633
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
May 15, 1998
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(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
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).
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SCHEDULE 13D
CUSIP NO. 127639-10-2 PAGE 2 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SmithKline Beecham plc
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
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7 SOLE VOTING POWER
NUMBER OF
SHARES 330,481
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
330,481
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
330,481
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.53%
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b14 TYPE OF REPORTING PERSON*
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SCHEDULE 13D
CUSIP NO. 127639-10-2 PAGE 3 OF 7 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SmithKline Beecham Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
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7 SOLE VOTING POWER
NUMBER OF
SHARES 330,481
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
330,481
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10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
330,481
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.53%
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b14 TYPE OF REPORTING PERSON*
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Page 4 of 7 Pages
Item 1. Security and Issuer.
Common Stock, $.01 Par Value
Cadus Pharmaceutical Corporation
777 Old Saw Mill River Road
Tarrytown, NY 10591-6705
Item 2. Identity and Background.
(a) SmithKline Beecham plc ("SBplc"), a company organized
under the laws of England, discovers, develops, manufactures and markets
pharmaceuticals, vaccines, over-the-counter medicines and health-related
products, and provides healthcare services including clinical laboratory
testing, disease management, and pharmaceutical benefit management.
SmithKline Beecham Corporation ("SBCorp"), a company organized
under the laws of Pennsylvania, discovers, develops, manufactures and markets
pharmaceuticals, vaccines, over-the-counter medicines and health-related
products, and provides healthcare services including clinical laboratory
testing, disease management, and pharmaceutical benefit management.
Collectively, SBplc and SBCorp are sometimes referred to
as the "Group".
(b) The principal business address for SBplc is:
New Horizons Court
Brentford
Middlesex
England TW8 9EP
The principal business address for SBCorp is:
One Franklin Plaza
Philadelphia, Pennsylvania 19102
(c) Information concerning the Group is set forth in response
to Item 2(a) above.
(d) During the last five years, the Group has not been
convicted in a criminal proceeding, excluding traffic violations or similar
misdemeanors.
(e) During the last five years the Group was not a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
and as a result thereof subject to 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.
(f) Not applicable.
Item 3. Source and Amount of Funds or Other Consideration.
Source of Funds: Working Capital
Consideration: $5,000,000
Item 4. Purpose of Transaction.
All of the securities acquired have been purchased for investment
purposes. The Group intends to review from time to time the business affairs and
financial position of the Issuer. Based on such evaluation and review, as well
as general economic and industry conditions existing at the time and the Group's
own financial plans, the Group may consider from time to time various
alternative courses of action. Such actions may include the acquisition of
additional shares through open market purchases, privately negotiated
transactions or otherwise. Alternatively, such actions may involve the sale of
all or a portion of the shares in the open market, in privately negotiated
transactions, through public offering or otherwise.
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Page 5 of 7 Pages
Item 5. Interest in Securities of the Issuer.
(a) Amount and Percent Beneficially Owned
Reporting Person No. of Shares Percent
SBplc 330,481 2.53%
SBCorp 330,481 2.53%
______
(b) The respective members of the Group have sole power to
vote and to dispose of all of the shares of Common Stock identified in
subparagraph (a) above.
(c) Pursuant to the February 25, 1997 Stock Purchase Agreement
(as filed with the Issuer's Current Report on Form 8-K dated March 7, 1997, the
"Stock Purchase Agreement"), Issuer exercised its option to sell 660,962 shares
of Common Stock to the Group for an aggregate price of $5.0 million.
Under the Stock Purchase Agreement if certain scientific
objectives are met, Issuer has a further option to sell to the Group additional
Common stock valued at $5.0 million at the-then-market price per share. That
agreement also provides that the Group may elect to purchase additional Common
Stock in connection with certain milestone payments pursuant to a research
collaboration and license agreement between the Issuer and the Group. Issuer
also granted certain registration rights with respect to shares of Common stock
which the Group may purchase pursuant to the Stock Purchase Agreement.
(d) Not applicable
(e) Not applicable
Item 6. Contracts, Arrangements, Understandings or
Relationship with respect to Securities of the Issuer.
See Item 5(c) above.
Item 7. Materials to be Filed as Exhibits.
Exhibit 1. Joint Filing Agreement dated as of May 19, 1998.
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Page 6 of 7 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, the undersigned certifies that the information set forth in the
Statement is true, correct and complete.
DATED: May 19, 1998
SMITHKLINE BEECHAM CORPORATION
By: /s/Donald F. Parman
--------------------------
Donald F. Parman
Secretary
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Page 7 of 7 Pages
EXHIBIT 1
The undersigned hereby agree, pursuant to Rule 13d-1(f) (1)
under Section 13(d) of the Securities Exchange Act of 1934, as amended, that (1)
they shall cause a single Schedule 13D to be filed on behalf of both parties in
respect of their ownership interests in the Common Stock of Cadus Pharmaceutical
Corporation and (2) SmithKline Beecham Corporation shall be authorized to sign
said Schedule 13D and any amendments thereto on behalf of both members of the
Group.
SMITHKLINE BEECHAM PLC
By: /s/ Alison Dillon
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Alison Dillon
Deputy Secretary
SMITHKLINE BEECHAM CORPORATION
By: /s/ Donald F. Parman
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Donald F. Parman
Secretary
Dated: May 19, 1998
