-----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, GQO2z+qlP1MMP10xAQ+uBfAHKn68DgcUajmCzme7ChuX/YVph6jF1QyNs356Br4g DtppofET7afPWiquHzeRxA== 0000929624-01-000236.txt : 20010223 0000929624-01-000236.hdr.sgml : 20010223 ACCESSION NUMBER: 0000929624-01-000236 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010214 GROUP MEMBERS: ANSELM LEUNG ("LEUNG") GROUP MEMBERS: BIOASIA INVESTMENTS LLC GROUP MEMBERS: BIOTECHNOLOGY DEVELOPMENT FUND III, L.P. GROUP MEMBERS: BIOTECHNOLOGY DEVELOPMENT FUND, L.P. GROUP MEMBERS: EDGAR ENGLEMAN ("ENGLEMAN") GROUP MEMBERS: FRANK KUNG ("KUNG") SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INSMED INC CENTRAL INDEX KEY: 0001104506 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 541972729 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-59149 FILM NUMBER: 1539042 BUSINESS ADDRESS: STREET 1: 800 E LEIGH ST STREET 2: SUITE 206 CITY: RICHMOND STATE: VA ZIP: 23219 BUSINESS PHONE: 8088286893 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BIOASIA INVESTMENTS LLC CENTRAL INDEX KEY: 0001103307 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 575 HIGH STREET SUITE 201 CITY: PALO ALTO STATE: CA ZIP: 94301 BUSINESS PHONE: 6506880821 MAIL ADDRESS: STREET 1: 575 HIGH STREET STE 201 CITY: PALO ALTO STATE: CA ZIP: 94301 SC 13G 1 0001.txt SCHEDULE 13G / ISSUER INSMED, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. Final)* Insmed, Inc. ---------------------------------------------- (Name of Issuer) Common Stock, Par Value $0.01 Per Share - -------------------------------------------------------------------------------- (Title of Class of Securities) 457669109 ---------------------------------------------------- (CUSIP Number) Check the following box if a fee is being paid with this statement [_]. (A fee is not required only if the filing 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 five percent or less of such class.) (See Rule 13d-7). *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 of 1934 ("Act") 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). Page 1 of 13 Pages - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Biotechnology Development Fund, L.P. ("BDF") 94-3258409 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2. (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3. - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4. Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 5. NUMBER OF 957,329 shares, except that BioAsia Investments, LLC ("BioAsia"), the general partner of BDF, and Frank Kung ("Kung"), Anselm Leung ("Leung") and Edgar Engleman ("Engleman"), members of BioAsia, may be deemed to have shared power to vote these shares. SHARES ----------------------------------------------------------- BENEFICIALLY SHARED VOTING POWER 6. 531,022 shares. The 531,022 shares are owned directly by Biotechnology Development Fund III, L.P. ("BDF" III"). BDF may be deemed to have shared power to vote through a 24.8% limited partnership interest in BDF OWNED BY III. EACH ----------------------------------------------------------- SOLE DISPOSITIVE POWER REPORTING 7. 957,329 shares, except that BioAsia, the general partner of BDF, and Kung, Leung and Engleman, members of BioAsia, may be deemed to have shared power to dispose of these shares. PERSON ----------------------------------------------------------- WITH SHARED DISPOSITIVE POWER 8. 531,022 shares. The 531,022 shares are owned directly by BDF III. BDF may be deemed to have shared power to dispose of these shares through a 24.8% limited partnership interest in BDF III. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9. 1,488,351 shares. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10. [_] N.A. - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11. 4.54% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12. PN - ------------------------------------------------------------------------------ Page 2 of 13 pages - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Biotechnology Development Fund III, L.P. ("BDF III" ) 77-0474834 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2. (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3. - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4. Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 5. NUMBER OF 531,022 shares, except that BDF, BioAsia, the general partner of BDF III and BDF, and Kung, Leung and Engleman, members of BioAsia, may be deemed to have SHARES shared power to vote these shares. ----------------------------------------------------------- BENEFICIALLY SHARED VOTING POWER 6. OWNED BY 0 EACH ----------------------------------------------------------- SOLE DISPOSITIVE POWER REPORTING 7. 531,022 shares, except that BDF, BioAsia, the general partner of BDF III and BDF, and Kung, Leung and Engleman, members of BioAsia, may be deemed to have PERSON shared power to dispose of these shares. ----------------------------------------------------------- WITH SHARED DISPOSITIVE POWER 8. 0 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9. 531,022 shares. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10. [_] N.A. - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11. 1.62% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12. PN - ------------------------------------------------------------------------------ Page 3 of 13 pages - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BioAsia Investments, LLC ("BioAsia") 94-3258407 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2. (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3. - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4. California - ------------------------------------------------------------------------------ SOLE VOTING POWER 5. NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6. 1,488,351 shares, 957,329 of which are directly owned by BDF and 531,022 of which are owned directly by BDF III. As the general partner of BDF and BDF III, BioAsia may be deemed to have shared power to vote OWNED BY these shares. ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7. REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8. 1,488,351 shares, 957,329 of which are directly owned by BDF and 531,022 of which are owned directly by BDF III. As the general partner of BDF and BDF III, BioAsia may be deemed to have shared power to dispose of these shares. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9. 1,488,351 shares. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10. [_] N.A. - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11. 4.54% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12. OO - ------------------------------------------------------------------------------ Page 4 of 13 pages - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BioAsia, LLC ("BA") 94-3263866 - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2. (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3. - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4. California - ------------------------------------------------------------------------------ SOLE VOTING POWER 5. NUMBER OF 18,750 shares. SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6. OWNED BY 0 ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7. REPORTING 18,750 shares. PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8. 0 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9. 18,750 shares. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10. [_] N.A. - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11. 0.06% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12. OO - ------------------------------------------------------------------------------ Page 5 of 13 pages - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Frank Kung ("Kung") ###-##-#### - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2. (a) [_] (b) [x] - ------------------------------------------------------------------------------ SEC USE ONLY 3. - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4. United States - ------------------------------------------------------------------------------ SOLE VOTING POWER 5. NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6. 1,507,101 shares, 957,329 of which are directly owned by BDF, 531,022 of which are owned directly by BDF III, and 18,750 of which are owned directly by BA. Kung is a member of BioAsia and BA and may be deemed OWNED BY to have shared power to vote these shares. ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7. REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8. 1,507,101 shares, 957,329 of which are directly owned by BDF, 531,022 of which are owned directly by BDF III, and 18,750 of which are owned directly by BA. Kung is a member of BioAsia and BA and may be deemed to have shared power to dispose of these shares. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9. 1,507,101 shares. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10. [_] N.A. - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11. 4.60% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12. IN - ------------------------------------------------------------------------------ Page 6 of 13 pages - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Anselm Leung ("Leung") ###-##-#### - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2. (a) [_] (b) [x] - ------------------------------------------------------------------------------ SEC USE ONLY 3. - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4. United States - ------------------------------------------------------------------------------ SOLE VOTING POWER 5. NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6. 1,507,101 shares, 957,329 of which are directly owned by BDF, 531,022 of which are owned directly by BDF III, and 18,750 of which are owned directly by BA. Leung is a member of BioAsia and BA and may be deemed OWNED BY to have shared power to vote these shares. ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7. REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8. 1,507,101 shares, 957,329 of which are directly owned by BDF, 531,022 of which are owned directly by BDF III, and 18,750 of which are owned directly by BA. Leung is a member of BioAsia and BA and may be deemed to have shared power to dispose of these shares. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9. 1,507,101 shares. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10. [_] N.A. - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11. 4.60% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12. IN - ------------------------------------------------------------------------------ Page 7 of 13 pages - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Edgar Engleman ("Engleman") ###-##-#### - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2. (a) [_] (b) [x] - ------------------------------------------------------------------------------ SEC USE ONLY 3. - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4. United States - ------------------------------------------------------------------------------ SOLE VOTING POWER 5. NUMBER OF Options to purchase 123,125 shares. SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6. 1,507,101 shares, 957,329 of which are directly owned by BDF, 531,022 of which are owned directly by BDF III, and 18,750 of which are owned directly by BA. Engleman is a member of BioAsia and BA and may be OWNED BY deemed to have shared power to vote these shares. ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7. REPORTING Options to purchase 123,125 shares. PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8. 1,507,101 shares, 957,329 of which are directly owned by BDF, 531,022 of which are owned directly by BDF III, and 18,750 of which are owned directly by BA. Engleman is a member of BioAsia and BA and may be deemed to have shared power to dispose of these . shares. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9. 1,630,226 shares. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10. [_] N.A. - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11. 4.97% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12. IN - ------------------------------------------------------------------------------ Page 8 of 13 pages Item 1. (a) Name of Issuer: Insmed, Inc. (b) Address of Issuer's Principal Executive Offices: 800 East Leigh Street, Suite 206 Richmond, Virginia 23219 Item 2. (a) Name of Person(s) Filing: BioAsia Investments, LLC, a California limited liability company ("BioAsia"), BioAsia, LLC, a California limited liability company ("BA"), Biotechnology Development Fund, L.P., a Delaware limited partnership ("BDF"), Biotechnology Development Fund III, L.P., a Delaware limited partnership ("BDF III"), Frank Kung ("Kung"), Anselm Leung ("Leung"), and Edgar Engleman ("Engleman") hereby make this single joint filing statement on Schedule 13G with respect to certain shares of common stock of Insmed, Inc. ("Issuer")) as follows. BDF, BDF III, BioAsia, BA, Kung, Leung and Engleman are each sometimes referred to as a Reporting Person and, collectively, referred to as the Reporting Persons. BioAsia is the general partner of BDF and BDF III, and may be deemed to have indirect beneficial ownership of shares of the issuer directly owned by BDF or beneficially owned by BDF through a 24.8% limited partnership interest in BDF III. Kung, Leung, and Engleman are members of BioAsia and BA and may be deemed to have indirect beneficial ownership of the shares of the Issuer directly and indirectly owned by BDF and directly owned by BDF III. BioAsia hereby disclaims beneficial ownership of shares of the Issuer directly owned by BDF and BDF III except to the extent of any indirect pecuniary interest therein. Keung, Leung, and Engleman hereby disclaim beneficial ownership of the shares held by BDF and BDF III except to the extent of any respective indirect pecuniary interest therein. Engleman is a member of the board of directors of the Issuer. (b) Address of Principal Business Office or, if none, Residence: The address of each Reporting Person is: 575 High Street, Suite 201, Palo Alto, California 94301 (c) Citizenship: BDF and BDF III are Delaware limited partnerships. BioAsia and BA are California limited liability companies. Kung, Leung and Engleman are United States citizens. (d) Title of Class of Securities: Common Stock, $0.01 par value. (e) CUSIP Number: 457669109 Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b), check whether the person filing is a: N.A. Page 9 of 13 pages Item 4. Ownership Ownership as of February 9, 2001 is incorporated by reference to items (5)-(9) and (11) of the cover page for each Reporting Person. In November 2000, BDF sold 386,510 shares of Common Stock and BDF III sold 214,394 shares of Common Stock in an underwritten public offering. No other transactions have occurred since November 2000. Item 5. Ownership of Five Percent or Less of a Class N.A. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Under certain circumstances set forth in the limited partnership agreements of BDF and BDF III and the limited liability company operating agreements of BioAsia and BA, the general and limited partners of BDF and BDF III and the members of BioAsia and BA each may be deemed to have the right to receive dividends from, or the proceeds from, the sale of shares of the Issuer owned by each such entity of which they are a partner or member, as applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company N.A. Item 8. Identification and Classification of Members of the Group N.A. Item 9. Notice of Dissolution of Group N.A. Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. Page 10 of 13 pages 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. Date: February 9, 2001 ---------------- Biotechnology Development Fund, L.P., By: BioAsia Investments, LLC, General Partner By: /s/ Frank Kung ---------------------------------- Frank Kung, Member Biotechnology Development Fund III, L.P. By: BioAsia Investments, LLC, General Partner By: /s/Frank Kung --------------------------------- Frank Kung, Member BioAsia Investments, LLC By: /s/Frank Kung ---------------------------------------- Frank Kung, Member BioAsia, LLC By: /s/Frank Kung ---------------------------------------- Frank Kung, Member /s/ Frank Kung ------------------------------------------- Frank Kung /s/ Anselm Leung ------------------------------------------- Anselm Leung /s/ Edgar Engleman ------------------------------------------- Edgar Engleman ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 100 Page 11 of 13 pages EXHIBIT INDEX Found on Sequentially Exhibit Numbered Page ------------- Exhibit A: Agreement of Joint Filing Page 13 Page 12 of 13 pages EXHIBIT A Agreement of Joint Filing The undersigned hereby agree that a single Schedule 13G (or any amendment thereto) relating to the Common Stock of Intermune Pharmaceuticals, Inc. shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13G. Dated: February 9, 2001. Biotechnology Development Fund, L.P., By: BioAsia Investments, LLC, General Partner By: /s/ Frank Kung -------------------------------- Frank Kung, Member Biotechnology Development Fund III, L.P. By: BioAsia Investments, LLC, General Partner By: /s/ Frank Kung ---------------------------------- Frank Kung, Member BioAsia Investments, LLC By: /s/ Frank Kung ------------------------------------------ Frank Kung, Member BioAsia, LLC By: /s/ Frank Kung ------------------------------------------ Frank Kung, Member /s/ Frank Kung ----------------------------------------- Frank Kung /s/ Anselm Leung ------------------------------------------ Anselm Leung /s/ Edgar Engleman ------------------------------------------ Edgar Engleman Page 13 of 13 pages -----END PRIVACY-ENHANCED MESSAGE-----