<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
---------------------------
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(AMENDMENT NO. 3)1
SIBIA NEUROSCIENCES, INC.
-------------------------
(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
825732 10 0
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(CUSIP Number)
Hope Flack
BVF Partners L.P.
227 West Monroe Street, Suite 4800
Chicago, Illinois 60606
(415) 288-2396
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
JANUARY 11, 2000
-----------------
(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 / /.
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.
(Continued on following pages)
(Page 1 of 7 Pages)
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(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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CUSIP NO. 896263 10 0 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BIOTECHNOLOGY VALUE FUND, L.P.
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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
DELAWARE
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SOLE VOTING POWER
7 -0-
NUMBER OF ----------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 8 -0-
OWNED BY EACH ----------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON WITH 9 -0-
----------------------------------------------------
SHARED DISPOSITIVE POWER
10 -0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
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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)
0%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 896263 10 0 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BVF PARTNERS L.P.
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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*
OO
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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
DELAWARE
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SOLE VOTING POWER
7 -0-
NUMBER OF ----------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 8 -0-
OWNED BY EACH ----------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON WITH 9 -0-
----------------------------------------------------
SHARED DISPOSITIVE POWER
10 -0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
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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)
0%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 896263 10 0 13D Page 4 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BVF INC.
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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, OO
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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
DELAWARE
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SOLE VOTING POWER
7 -0-
NUMBER OF ----------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 8 -0-
OWNED BY EACH ----------------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON WITH 9 -0-
----------------------------------------------------
SHARED DISPOSITIVE POWER
10 -0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- --------------------------------------------------------------------------------
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)
0%
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14 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 896263 10 0 13D Page 5 of 7 Pages
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This Amendment No. 3 (the "Amendment") to the Statement on Schedule
13D, dated September 8, 1998 (as amended, the "Statement"), as amended by
Amendment No. 1, dated August 4, 1999 ("Amendment No. 1"), and as further
amended by Amendment No. 2, dated August 9, 1999 ("Amendment No. 2"), is
filed with the Securities and Exchange Commission on behalf of Biotechnology
Value Fund, L.P., a Delaware limited partnership ("BVF"), BVF Partners L.P.,
a Delaware limited partnership ("Partners"), and BVF Inc., a Delaware
corporation ("BVF Inc." and, together with BVF and Partners, the "Reporting
Persons") with respect to the Common Stock (the "Stock"), of SIBIA
Neurosciences, Inc., a Delaware corporation ("SIBIA"). The principal office
of SIBIA is located at 505 Coast Boulevard South, Suite 300, La Jolla, CA,
92037.
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since November 11, 1999, Partners, in its capacity as general
partner of BVF and on behalf of such limited partnership, has sold to SIBIA
in connection with a merger between SIBIA and Merck & Co., Inc. 755,250
shares of the Stock for consideration of $6,419,925. In addition, Partners,
in its capacity as investment manager with respect to certain managed
accounts, and on behalf of such managed accounts, has sold to SIBIA in
connection with a merger between SIBIA and Merck & Co., Inc. an aggregate
number of 675,750 shares of the Stock for an aggregate consideration of
$5,743,875.
Item 4 is hereby amended to read in its entirety as follows:
ITEM 4. PURPOSE OF TRANSACTIONS.
The sole purpose of the original acquisition of the Stock and its
disposition, as reported herein, was for investment. At no time have the
Reporting Persons had any plan to acquire control of SIBIA. The Reporting
Persons have no intent to engage in any further transactions in the Stock.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of January 11, 2000, none of the Reporting Persons beneficially
own any shares of the Stock.
(b) As of January 11, 2000, none of the Reporting Persons nor any
managed account beneficially own any shares of the Stock. The managed accounts
on whose behalf Partners previously owned shares of the Stock were Investment 10
L.L.C., an Illinois limited liability company ("ILL10") and Biotechnology Value
Fund, Ltd., a Cayman Islands Corporation ("BVF Ltd."). Together, ILL10 and BVF
Ltd. are referred to herein as the "Accounts." The Accounts specialize in
holding biotechnology stocks for investment purposes and the business
<PAGE>
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CUSIP NO. 896263 10 0 13D Page 6 of 7 Pages
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address of each is BVF Partners L.P., 227 West Monroe Street, Suite 4800,
Chicago, Illinois 60606.
(c) Exhibit B attached hereto contains information as to all
transactions in the Stock by the Reporting Persons since November 11, 1999. All
such transactions were private transactions made for cash. No other transactions
in the Stock have been effected by the Reporting Persons in the last 60 days.
(d) The Accounts are entitled to receive dividends and any sale
proceeds with respect to the Stock in proportion to their respective ownership
interests therein.
(e) On January 11, 2000, the Reporting Persons ceased to be beneficial
owners of any shares of the Stock.
Item 7 is hereby amended to read in its entirety as follows:
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Agreement Regarding Joint Filing
Exhibit B - Transactions in the Stock by the Reporting Persons During
the Last 60 Days
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CUSIP NO. 896263 10 0 13D Page 7 of 7 Pages
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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: January 18, 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
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
<PAGE>
EXHIBIT 99.1A
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
The undersigned, Biotechnology Value Fund, L.P., a Delaware limited
partnership, and BVF Partners L.P., a Delaware limited partnership, and BVF
Inc., a Delaware corporation, hereby agree and acknowledge that the Amendment
containing the information required by Schedule 13D, to which this Agreement is
attached as an exhibit, is filed on behalf of each of them. The undersigned
further agree that any further amendments or supplements thereto shall also be
filed on behalf of each of them.
Dated: January 18, 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
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
<PAGE>
EXHIBIT 99.1B
EXHIBIT B
TRANSACTIONS IN THE STOCK BY THE REPORTING PERSONS
DURING THE LAST 60 DAYS
<TABLE>
<CAPTION>
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FOR THE ACCOUNT
TRADE DATE BY OF QUANTITY PRICE PER SHARE TYPE OF TRADE BROKER
---------- -- -- -------- --------------- ------------- ------
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<S> <C> <C> <C> <C> <C> <C>
01/11/00 BVF Partners (755,250) $8.5004 Sale NB
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01/11/00 ILL10 Partners (49,400) $8.5000 Sale NB
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01/11/00 BVF Ltd. Partners (626,350) $8.5000 Sale NB
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</TABLE>
NB = No Broker
