VIROPHARMA INC
SC 13G, 1997-02-07
PHARMACEUTICAL PREPARATIONS
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<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                  SCHEDULE 13G


             INFORMATION STATEMENT PURSUANT TO RULE 13D-1 AND 13D-2
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934


                            VIROPHARMA INCORPORATED.
                ------------------------------------------------
                                (Name of Issuer)

                    COMMON STOCK, $.002 PAR VALUE PER SHARE
                ------------------------------------------------
                         (Title of Class of Securities)

                                  928241-10-8
                ------------------------------------------------
                     (CUSIP Number of Class of Securities)





Check the following box if a fee is being paid with this 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 less than five percent of
such class.)  (See Rule 13d-7.)



                               Page 1 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   2
CUSIP NO.     928241-10-8          SCHEDULE 13G              PAGE 2 OF 11 PAGES
- -------------------------------------------------------------------------------
  (1)     NAME OF REPORTING PERSON
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

          FRAZIER HEALTHCARE II, L.P.                FEIN: 91-1689734
- -------------------------------------------------------------------------------
  (2)     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (A)   [   ]
                                                                    (B)   [   ]
- -------------------------------------------------------------------------------
  (3)     SEC USE ONLY

- -------------------------------------------------------------------------------
  (4)     CITIZENSHIP OR PLACE OF ORGANIZATION

          Organized under the laws of the State of Delaware
- -------------------------------------------------------------------------------
                       (5)     SOLE VOTING POWER
  NUMBER OF                    0
   SHARES              --------------------------------------------------------
 BENEFICIALLY          (6)     SHARED VOTING POWER
  OWNED BY                     765,000
    EACH               --------------------------------------------------------
  REPORTING            (7)     SOLE DISPOSITIVE POWER
 PERSON WITH                   0
- -------------------------------------------------------------------------------
                       (8)     SHARED DISPOSITIVE POWER
                               765,000
- -------------------------------------------------------------------------------
  (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
          0                                                                    
- -------------------------------------------------------------------------------
 (10)     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
          SHARES*                                                           [ ]
- -------------------------------------------------------------------------------
 (11)     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.75%                                                                
- -------------------------------------------------------------------------------
 (12)     TYPE OF REPORTING PERSON*
          LP
- -------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!





                               Page 2 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   3
CUSIP NO.     928241-10-8          SCHEDULE 13G              PAGE 3 OF 11 PAGES
- -------------------------------------------------------------------------------
  (1)     NAME OF REPORTING PERSON
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

          FHM II, L.L.C.                FEIN: 91-1689731
- -------------------------------------------------------------------------------
  (2)     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (A)   [   ]
                                                                    (B)   [   ]

- -------------------------------------------------------------------------------
  (3)     SEC USE ONLY

- -------------------------------------------------------------------------------
  (4)     CITIZENSHIP OR PLACE OF ORGANIZATION

          Organized under the laws of the State of Delaware
- -------------------------------------------------------------------------------
                       (5)     SOLE VOTING POWER
  NUMBER OF                    0
   SHARES              --------------------------------------------------------
 BENEFICIALLY          (6)     SHARED VOTING POWER
  OWNED BY                     765,000
    EACH               --------------------------------------------------------
  REPORTING            (7)     SOLE DISPOSITIVE POWER
 PERSON WITH                   0
                       --------------------------------------------------------
                       (8)     SHARED DISPOSITIVE POWER
                               765,000
- -------------------------------------------------------------------------------
  (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
          0                                                                    
- -------------------------------------------------------------------------------
 (10)     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
          SHARES*                                                           [ ]
- -------------------------------------------------------------------------------
 (11)     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.75%                                                                
- -------------------------------------------------------------------------------
 (12)     TYPE OF REPORTING PERSON*
          LLC
- -------------------------------------------------------------------------------


                     *SEE INSTRUCTIONS BEFORE FILLING OUT!





                               Page 3 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   4
CUSIP NO.     928241-10-8          SCHEDULE 13G              PAGE 4 OF 11 PAGES
- -------------------------------------------------------------------------------
  (1)     NAME OF REPORTING PERSON
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

          FRAZIER MANAGEMENT, L.L.C.              FEIN: 91-1678546
- -------------------------------------------------------------------------------
  (2)     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (A)   [   ]
                                                                    (B)   [   ]
- -------------------------------------------------------------------------------
  (3)     SEC USE ONLY

- -------------------------------------------------------------------------------
  (4)     CITIZENSHIP OR PLACE OF ORGANIZATION

          Organized under the laws of the State of Delaware
- -------------------------------------------------------------------------------
                       (5)     SOLE VOTING POWER
  NUMBER OF                    0
   SHARES              --------------------------------------------------------
 BENEFICIALLY          (6)     SHARED VOTING POWER
  OWNED BY                     765,000
    EACH               --------------------------------------------------------
  REPORTING            (7)     SOLE DISPOSITIVE POWER
 PERSON WITH                   0
                       --------------------------------------------------------
                       (8)     SHARED DISPOSITIVE POWER
                               765,000
- -------------------------------------------------------------------------------
  (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
          765,000
- -------------------------------------------------------------------------------
 (10)     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
          SHARES*                                                           [ ]
- -------------------------------------------------------------------------------
 (11)     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.75%
- -------------------------------------------------------------------------------
 (12)     TYPE OF REPORTING PERSON*
          LLC
- -------------------------------------------------------------------------------


                     *SEE INSTRUCTIONS BEFORE FILLING OUT!





                               Page 4 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   5
CUSIP NO.     928241-10-8          SCHEDULE 13G              PAGE 5 OF 11 PAGES
- -------------------------------------------------------------------------------
  (1)     NAME OF REPORTING PERSON
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

          FRAZIER & COMPANY, INC.                  FEIN# 91-1526760
- -------------------------------------------------------------------------------
  (2)     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (A)   [   ]
                                                                    (B)   [   ]
- -------------------------------------------------------------------------------
  (3)     SEC USE ONLY

- -------------------------------------------------------------------------------
  (4)     CITIZENSHIP OR PLACE OF ORGANIZATION

          Organized under the laws of the State of Washington
- -------------------------------------------------------------------------------
                       (5)     SOLE VOTING POWER
  NUMBER OF                    0
   SHARES              --------------------------------------------------------
 BENEFICIALLY          (6)     SHARED VOTING POWER
  OWNED BY                     765,000
    EACH               --------------------------------------------------------
  REPORTING            (7)     SOLE DISPOSITIVE POWER
 PERSON WITH                   0
                       --------------------------------------------------------
                       (8)     SHARED DISPOSITIVE POWER
                               765,000
- -------------------------------------------------------------------------------
  (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
          765,000
- -------------------------------------------------------------------------------
 (10)     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
          SHARES*                                                           [ ]
- -------------------------------------------------------------------------------
 (11)     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.75%
- -------------------------------------------------------------------------------
 (12)     TYPE OF REPORTING PERSON*
          CO
- -------------------------------------------------------------------------------


                     *SEE INSTRUCTIONS BEFORE FILLING OUT!





                               Page 5 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   6
CUSIP NO. 4   928241-10-8          SCHEDULE 13G              PAGE 6 OF 11 PAGES
- -------------------------------------------------------------------------------
  (1)     NAME OF REPORTING PERSON
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

          Alan D. Frazier                           SS####-##-####
- -------------------------------------------------------------------------------
  (2)     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (A)   [   ]
                                                                    (B)   [   ]
- -------------------------------------------------------------------------------
  (3)     SEC USE ONLY

- -------------------------------------------------------------------------------
  (4)     CITIZENSHIP OR PLACE OF ORGANIZATION

          United States Citizen
- -------------------------------------------------------------------------------
                       (5)     SOLE VOTING POWER
  NUMBER OF                    0
   SHARES              --------------------------------------------------------
 BENEFICIALLY          (6)     SHARED VOTING POWER
  OWNED BY                     765,000
    EACH               --------------------------------------------------------
  REPORTING            (7)     SOLE DISPOSITIVE POWER
 PERSON WITH                   0
                       --------------------------------------------------------
                       (8)     SHARED DISPOSITIVE POWER
                               765,000
- -------------------------------------------------------------------------------
  (9)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
          765,000
- -------------------------------------------------------------------------------
 (10)     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
          SHARES*                                                           [ ]
- -------------------------------------------------------------------------------
 (11)     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.75%
- -------------------------------------------------------------------------------
 (12)     TYPE OF REPORTING PERSON*
          IN
- -------------------------------------------------------------------------------


                     *SEE INSTRUCTIONS BEFORE FILLING OUT!





                               Page 6 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   7
                           AMENDMENTS TO SCHEDULE 13G

ITEM 1(A).  NAME OF ISSUER.

         This Schedule 13G relates to ViroPharma Incorporated, a Delaware
corporation (the "Company").

ITEM 1(B).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

         The Company's principal executive offices are located at 76 Great
Valley Parkway, Malvern, PA  19355.

ITEM 2(A).  NAME OF PERSONS FILING.

         This Schedule 13G relates to each of the following persons:

         -       Frazier Healthcare II, L.P., a limited partnership ("FHII")

         -       FHM II, L.L.C., a limited partnership ("FHMII")

         -       Frazier Management, L.L.C., a limited liability company
                 ("FMLLC")

         -       Frazier & Company, Inc., a Washington corporation ("F&C Inc.")

         -       Alan D. Frazier, as a director and sole shareholder of F&C
                 Inc.; and

         The general partner of FHII is FHMII, whose managing member is FMLLC.
The managing member of FMLLC is F&C Inc.  The sole shareholder of F&C Inc. is
Alan D. Frazier.

ITEM 2(B).  ADDRESS OF PRINCIPAL BUSINESS OFFICE.

         The business address of each of the reporting persons is 601 Union
Street, Suite 2110, Seattle, Washington  98101.

ITEM 2(C).  CITIZENSHIP.

         FHII is a limited partnership organized under the laws of the State of
Delaware.  FHMII and FMLLC are limited liability companies organized under the
laws of the State of Delaware.  F&C Inc. is a corporation organized under the
laws of the State of Washington.  Mr. Frazier is a United States citizen.

ITEM 2(D).  TITLE OF CLASS OF SECURITIES.

         This Schedule 13G relates to the Company's common stock, $.002 par
value per share (the "Common Stock").





                               Page 7 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   8
ITEM 2(E).  CUSIP NUMBER.

         The CUSIP Number for the Company's Common Stock is 928241-10-8.

ITEM 3.  IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B) OR 13D-2(B),
         CHECK WHETHER THE PERSON FILING IS A:

      (a)[ ]     Broker or dealer registered under Section 15 of the Act,

      (b)[ ]     Bank as defined in Section 3(a)(6) of the Act,

      (c)[ ]     Insurance Company as defined in Section 3(a)(19) of the Act,

      (d)[ ]     Investment Company registered under Section 8 of the
                 Investment Company Act,

      (e)[ ]     Investment Advisor registered under Section 203 of the
                 Investment Advisors Act of 1940,

      (f)[ ]     Employee Benefit Plan, Pension Fund which is subject to the
                 provisions of the Employee Retirement Income Security Act of
                 1974 or Endowment Fund,

      (g)[ ]     Parent Holding Company, in accordance with Rule
                 13d-1(b)(ii)(G),

      (h)[ ]     Group, in accordance with Rule 13d-1(b)(1)(ii)(H).

                                NOT APPLICABLE.

ITEM 4.  OWNERSHIP.

         The following describes the ownership of Common Stock by FHII, FHMII,
FMLLC, F&C Inc. and Mr. Alan D. Frazier as of December 31, 1996:

         (a)     Amount beneficially owned:  765,000 (1)

         (b)     Percent of class:  8.75%

         (c)     Number of shares as to which such person has:

                      (i)    Sole power to vote or direct the vote:  0

                     (ii)    Shared power to vote or to direct the vote:
                             765,000  (1)(2)

                    (iii)    Sole power to dispose or to direct the
                             disposition of:  0

                     (iv)    Shared power to dispose or to direct the
                             disposition of:    765,000 (1)





                               Page 8 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   9

         (1)     Represent shares of Common Stock held of record by FHII of
                 which FHMII is the general partner.  FMLLC is the managing
                 member of FHMII and F&C Inc. is the managing member of FMLLC.
                 Mr. Frazier is the sole shareholder of F&C Inc.

         (2)     Power to vote or to direct the vote of, and power to dispose
                 or to direct the disposition of, the reported shares is deemed
                 to be shared among each of FHII, FHMII, FMLLC, F&C Inc. and
                 Mr. Frazier.  Each of such persons denies beneficial ownership
                 of such shares except to the extent of such person's
                 respective pecuniary interest.

ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

         Not applicable.

ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

         Not applicable.

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 THE GROUP.

         Not applicable.

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP.

         Not applicable.

ITEM 10. CERTIFICATION.

         Not applicable.





                               Page 9 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   10
                                   SIGNATURE

         The undersigned hereby agree that this Schedule is filed on behalf of
each of them and, after reasonable inquiry and to best of their knowledge and
belief, hereby certify that the information set forth in this statement is
true, complete and correct.

         Dated:  February 5, 1997

                              FRAZIER HEALTHCARE II, L.P.
                              By:  FHM II, L.L.C.
                                   Its General Partner
                              By:  Frazier Management, L.L.C.
                                   Its Managing Member
                              By:  Frazier & Company, Inc.
                                   Its Managing Member


                              By      //s//  Alan D. Frazier                   
                                -----------------------------------------------
                                  Alan D. Frazier, President


                              FRAZIER MANAGEMENT, L.L.C.
                              By: Frazier & Company, Inc.
                                   Its Managing Member


                              By      //s//  Alan D. Frazier                   
                                -----------------------------------------------
                                  Alan D. Frazier, President

                              FRAZIER & COMPANY, INC.


                              By      //s//  Alan D. Frazier                   
                                -----------------------------------------------
                                  Alan D. Frazier, President, Director and
                                  Shareholder





                              Page 10 of 11 Pages
                    An Index of Exhibits appears on Page 11
<PAGE>   11
                                 EXHIBIT INDEX




                  Statement required by reporting persons pursuant to Rule
                  13d-1(f)(1) (see signature page).





                              Page 11 of 11 Pages
                    An Index of Exhibits appears on Page 11


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