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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13D-1(b) (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(AMENDMENT NO. __)1
CONNETICS CORPORATION
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(Name of Issuer)
COMMON STOCK
------------
(Title of Class of Securities)
208192 10 4
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(CUSIP Number)
DECEMBER 19, 2000
-----------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
---------------------
1 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 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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CUISP NO. 208192 10 4 13G Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON:
BIOTECHNOLOGY VALUE FUND, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------- ----- -----------------------------------------------
NUMBER SOLE VOTING POWER
OF 5 0
SHARES -----------------------------------------------
BENEFICIALLY SHARED VOTING POWER
OWNED BY EACH 6 580,700
REPORTING -----------------------------------------------
PERSON SOLE DISPOSITIVE POWER
WITH 7 0
-----------------------------------------------
SHARED DISPOSITIVE POWER
8 580,700
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
580,700
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.0%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUISP NO. 208192 10 4 13G Page 3 of 8 Pages
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1 NAME OF REPORTING PERSON:
BIOTECHNOLOGY VALUE FUND II, L.P.,
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------- ----- -----------------------------------------------
NUMBER SOLE VOTING POWER
OF 5 0
SHARES -----------------------------------------------
BENEFICIALLY SHARED VOTING POWER
OWNED BY EACH 6 1,149,300
REPORTING -----------------------------------------------
PERSON SOLE DISPOSITIVE POWER
WITH 7 0
-----------------------------------------------
SHARED DISPOSITIVE POWER
8 1,149,300
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,149,300
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.9%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUISP NO. 208192 10 4 13G Page 4 of 8 Pages
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1 NAME OF REPORTING PERSON:
BVF PARTNERS L.P.,
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
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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 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------- ----- -----------------------------------------------
NUMBER SOLE VOTING POWER
OF 5 0
SHARES -----------------------------------------------
BENEFICIALLY SHARED VOTING POWER
OWNED BY EACH 6 1,805,600
REPORTING -----------------------------------------------
PERSON SOLE DISPOSITIVE POWER
WITH 7 0
-----------------------------------------------
SHARED DISPOSITIVE POWER
8 1,805,600
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,805,600
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.1%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUISP NO. 208192 10 4 13G Page 5 of 8 Pages
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1 NAME OF REPORTING PERSON:
BVF INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |X| (b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-------------------------- ----- -----------------------------------------------
NUMBER SOLE VOTING POWER
OF 5 0
SHARES -----------------------------------------------
BENEFICIALLY SHARED VOTING POWER
OWNED BY EACH 6 1,805,600
REPORTING -----------------------------------------------
PERSON SOLE DISPOSITIVE POWER
WITH 7 0
-----------------------------------------------
SHARED DISPOSITIVE POWER
8 1,805,600
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,805,600
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.1%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUISP NO. 208192 10 4 13G Page 6 of 8 Pages
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ITEM 1(a). NAME OF ISSUER:
Connetics Corporation ("Connetics")
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
3400 West Bayshore Road
Palo Alto, California 94303
ITEM 2(a). NAME OF PERSON FILING:
This Schedule 13G is being filed on behalf of the following
persons* (the "Reporting Persons"):
(i) Biotechnology Value Fund, L.P. ("BVF")
(ii) Biotechnology Value Fund II, L.P. ("BVF2")
(iii) BVF Partners L.P. ("Partners")
(iv) BVF Inc. ("BVF Inc.")
* Attached as Exhibit 1 is a copy of an agreement among
the Reporting Persons filing (as specified
hereinabove) that this Schedule 13G is being filed on
behalf of each of them.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The principal business office of the Reporting Persons
comprising the group filing this Schedule 13G is located at 227 West Monroe
Street, Suite 4800, Chicago, Illinois, 60606.
ITEM 2(c). CITIZENSHIP:
BVF: a Delaware limited partnership
BVF2: a Delaware limited partnership
Partners: a Delaware limited partnership
BVF Inc.: a Delaware corporation
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, $0.001 par value.
ITEM 2(e). CUSIP NUMBER:
208192 10 4
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CUISP NO. 208192 10 4 13G Page 7 of 8 Pages
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR
13d-2(b) OR (c) CHECK WHETHER THE PERSON FILING IS: ONE OF
THE FOLLOWING
Not applicable as this Schedule 13G is filed pursuant to Rule
13d 1(c).
ITEM 4. OWNERSHIP:
The information in items 1 and 5 through 11 on the cover pages
(pp. 2 - 5) on this Schedule 13G is hereby incorporated by reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
If this statement is being filed to report the fact that as of
the date hereof the Reporting Persons have ceased to be the
beneficial owner of more than five percent of the class of
securities check the following. |_|
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
BVF shares voting and dispositive power over the shares of
the common stock it beneficially owns with Partners. BVF2 also shares voting
and dispositive power over the shares of the common stock it beneficially
owns with Partners. Partners and BVF Inc. share voting and dispositive power
over the shares of the common stock they beneficially own with, in addition
to BVF and BVF2, certain managed accounts on whose behalf Partners, as
investment manager, purchased such shares. None of the managed accounts
individually owns more than 5% of the common stock of Connetics.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY:
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP:
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable.
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CUISP NO. 208192 10 4 13G Page 8 of 8 Pages
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ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and are not
held in connection with or as a participant in any transaction having that
purpose or effect.
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.
Dated: December 29, 2000
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
BIOTECHNOLOGY VALUE FUND II, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
BVF INC.
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
