-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Fr7JlfBtuUBUTeJLF23mv16nVrebVaoMy3ex0U7F6v39YcTJzV8qND0Rfwtyon8i yC+kif1IRbkZY+wjACB2Rg== 0001193125-05-027069.txt : 20050211 0001193125-05-027069.hdr.sgml : 20050211 20050211164030 ACCESSION NUMBER: 0001193125-05-027069 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050211 DATE AS OF CHANGE: 20050211 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COLLAGENEX PHARMACEUTICALS INC CENTRAL INDEX KEY: 0001012270 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 521758016 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-47825 FILM NUMBER: 05599333 BUSINESS ADDRESS: STREET 1: 41 UNIVERSITY DRIVE CITY: NEWTON STATE: PA ZIP: 18940 BUSINESS PHONE: 2155797388 MAIL ADDRESS: STREET 1: 41 UNIVERSITY DRIVE CITY: NEWTON STATE: PA ZIP: 18940 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TALON ASSET MANAGEMENT INC CENTRAL INDEX KEY: 0001007614 IRS NUMBER: 363298844 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 1 N FRANKLIN STREET 2: SUITE 450 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3124225400 MAIL ADDRESS: STREET 1: 1 N FRANKLIN SUITE 450 CITY: CHICAGO STATE: IL ZIP: 60606 SC 13G 1 dsc13g.txt SCHEDULE 13-G UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* --- CollaGenex Pharmaceuticals, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 19419B100 (CUSIP Number) December 31, 2004 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *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 the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act (the "Act") or otherwise subject to the liabilities of that section of the Act but shall to all other provisions of the Act (however, see the Notes). Page 1 of 5 CUSIP No. 19419B100 - -------------------------------------------------------------------------------- 1. Name of Reporting Person I.R.S. Identification No. of above persons (entities only). Talon Asset Management, Inc. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Illinois corporation - -------------------------------------------------------------------------------- Number of 5. Sole Voting Power: None Shares Benef- icially owned ---------------------------------------------------------------- by Each 6. Shared Voting Power: 931,840 Reporting Person With: ---------------------------------------------------------------- 7. Sole Dispositive Power: None ---------------------------------------------------------------- 8. Shared Dispositive Power: 931,840 - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 931,840 - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) Not applicable. - -------------------------------------------------------------------------------- 11. Percent of Class represented by Amount in Row (9) 6.5% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) IA - -------------------------------------------------------------------------------- Page 2 of 5 Item 1. (a) Name of Issuer: CollaGenex Pharmaceuticals, Inc. (b) Address of Issuer's Principal Executive Offices 41 University Drive Newtown, PA 18940 Item 2. (a) Name of Person Filing Talon Asset Management, Inc. (b) Address of Principal Business Office One North Franklin Suite 900 Chicago, IL 60606 (c) Citizenship Illinois corporation (d) Title of Class of Securities Common Stock (e) CUSIP Number 19419B100 Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c), check whether the person is 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 of 1940 (e) [X] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E) (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d- 1(b)(1)(ii)(F) (g) [ ] A parent holding company or control person in accordance with Rue 13d- 1(b)(1)(ii)(G) (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (j) Group, in accordance with 13d-1(b)(1)(ii)(J) Item 4. Ownership (a) Amount beneficially owned Talon Asset Management, Inc. 931,840 (b) Percent of class Talon Asset Management, Inc. 6.5% (based on 14,385,377 shares outstanding as of November 1, 2004) (c) Number of shares as to which Talon Asset Management, Inc. has: (i) Sole power to vote or to direct the vote: None (ii) Shared power to vote or to direct the vote: 931,840 (iii) Sole power to dispose or to direct the disposition of: None (iv) Shared power to dispose or to direct the disposition of: 931,840 Page 3 of 5 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. The shares reported herein by Talon Asset Management, Inc. ("Talon") are either (a) held on behalf of discretionary clients of Talon Asset Management, Inc. or (b) held on behalf of Talon Opportunity Partners, L.P., as manager of Talon Opportunity Managers, L.L.C., the general partner of Talon Opportunity Partners, L.P. To the knowledge of Talon, no client has the right to receive dividends or direct the proceeds from the sale of interests relating to more than 5% of the class. From time to time, Talon Opportunity Partners, L.P. may make distributions of partnership income to limited partners, none of which has an interest relating to more than 5% of the class. 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 the Group Not applicable. Page 4 of 5 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. SIGNATURE 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. February 11, 2005 Date TALON ASSET MANAGEMENT, INC. /s/ Terry Diamond ---------------------------------------- Signature Terry Diamond/Chairman Name/Title Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----