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FORM 4
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check box if no
longer subject to Filed pursuant to Section 16(a) of the Securities
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the
or Form 5 obligations Public Utility Holding Company Act of 1935
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to
Brown, Martin S. Therapeutic Antibodies Inc. (TAb-LS) Issuer (Check all applicable)
- --------------------------------------------- ---------------------------------------------- X Director 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
1207 17th Avenue South, Suite 103 Number of Reporting Month/Year X Officer (give Other (Specify
- --------------------------------------------- Person (Voluntary) 6/98 ---- title --- below)
(Street) ------------------ below)
Nashville, TN 37212 5. If Amendment, Chairman of the Board
- --------------------------------------------- Date of Original --------------------------------
(City) (State) (Zip) (Month/Year)
7. Individual or Joint/Group Filing
------------------ (Check applicable line)
X Form filed by one
---- Reporting Person
Form filed by more than
---- one Reporting Person
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TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
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15% Subordinated Promissory Note 6/29/98 P $250,000 A $250,000 $250,000 D
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*If the Form is filed by more than one Reporting Person, see Instruction 4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Response) (8/96)
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FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Expiration Securities Deriv-
Price of (Month/ (Instr. Acquired (A) Date (Instr. 3 and 4) ative
Deriv- Day/ 8) or Disposed (Month/Day/ Secur-
ative Year) of (D) Year) ity
Security (Instr. 3, (Instr. 5)
4, and 5) -----------------------------------
Date Expira- Amount or
---------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
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Warrants $2.40 6/25/98 A 25,000 12/26/98 See Note 1 Common 25,000
Stock
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Warrants $3.50 12/31/97 E 10,000 12/31/92 12/31/97 Common 10,000
Stock
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Warrants $2.50 5/19/98 E 10,000 5/19/93 5/19/98 Common 10,000
Stock
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Warrants $2.50 6/11/98 E 30,000 6/11/93 6/11/98 Common 30,000
Stock
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1. Title of Derivative 9. Number of 10. Ownership 11. Nature of
Security Derivative Form of Indirect
(Instr. 3) Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
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Warrants 79,000 D
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Warrants 79,000 D
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Warrants 79,000 D
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Warrants 79,000 D
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Explanation of Responses:
Note 1: On June 29, 1998, Mr. Brown purchased $250,000 principal amount of the Company's 15% Subordinated Promissory
Notes, due December 26, 1998 (the "Note"). In connection with his purchase of the Note, Mr. Brown received a Stock
Purchase Warrant for the purchase of up to 25,000 shares at $2.40 per share.
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ------------------------------- -------
**Signature of Reporting Person Date
Note. File three copies of this form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure.
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