-----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, EplBTPy5JnCoY3vDhCeKecIiGfRtL8mzFb3V4JCtYxILlTPIkLP8ZOiQ559U1KAC Day9O3nXzLs6AIqv+DdoVQ== 0001047469-98-034040.txt : 19980910 0001047469-98-034040.hdr.sgml : 19980910 ACCESSION NUMBER: 0001047469-98-034040 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980909 SROS: NYSE GROUP MEMBERS: BIOTECHNOLOGY VALUE FUND L P ET AL GROUP MEMBERS: BIOTECHNOLOGY VENTURE PARTNERS L.P. GROUP MEMBERS: BVF INC. GROUP MEMBERS: BVF PARTNERS L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: REPLIGEN CORP CENTRAL INDEX KEY: 0000730272 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 042729386 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-38071 FILM NUMBER: 98705739 BUSINESS ADDRESS: STREET 1: 117 FOURTH AVE CITY: NEEDHAM STATE: MA ZIP: 02194 BUSINESS PHONE: 7814499560 MAIL ADDRESS: STREET 1: 117 FOURTH AVE CITY: NEEDHAM STATE: MA ZIP: 02194 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BIOTECHNOLOGY VALUE FUND L P ET AL CENTRAL INDEX KEY: 0000918923 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 363924731 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: ONE SANSOME STREET STREET 2: 39TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 415-288-2395 MAIL ADDRESS: STREET 1: ONE SANSOME STREET STREET 2: 39TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 SC 13D 1 SCHEDULE 13D 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. __)(1) REPLIGEN CORP. ----------------- (Name of Issuer) COMMON STOCK ---------------- (Title of Class of Securities) 759916 10 9 --------------- (CUSIP Number) Marc Schneidman BVF Partners L.P. 333 West Wacker Drive, Suite 1600 Chicago, Illinois 60606 (415) 288-2396 -------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 8, 1998 ------------------ (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 9 Pages) - --------------- (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). - ----------------------------- ------------------------- CUSIP NO. 759916 10 9 13D Page 2 of 9 Pages - ----------------------------- ------------------------- - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: BIOTECHNOLOGY VALUE FUND, L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - ------------------------------------------------------------------------------- NUMBER 5 SOLE VOTING POWER OF -0- SHARES ------------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 962,500 REPORTING ------------------------------------------------------------- PERSON 7 SOLE DISPOSITIVE POWER WITH -0- ------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 962,500 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 962,500 - ------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.2% - ------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------------- ------------------------- CUSIP NO. 759916 10 9 13D Page 3 of 9 Pages - ----------------------------- ------------------------- - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: BIOTECHNOLOGY VENTURE PARTNERS L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) // - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - ------------------------------------------------------------------------------- NUMBER 5 SOLE VOTING POWER OF -0- SHARES ------------------------------------------------------------ BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 412,500 REPORTING ------------------------------------------------------------ PERSON 7 SOLE DISPOSITIVE POWER WITH -0- ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 412,500 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 412,500 - ------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 2.2% - ------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------------- ------------------------- CUSIP NO. 759916 10 9 13D Page 4 of 9 Pages - ----------------------------- ------------------------- - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON: BVF PARTNERS L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - ------------------------------------------------------------------------------- NUMBER 5 SOLE VOTING POWER OF -0- SHARES ------------------------------------------------------------ BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 2,406,250 REPORTING ------------------------------------------------------------ PERSON 7 SOLE DISPOSITIVE POWER WITH -0- ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 2,406,250 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,406,250 - ------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.9% - ------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------------- ------------------------- CUSIP NO. 759916 10 9 13D Page 5 of 9 Pages - ----------------------------- ------------------------- - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS BVF INC. I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - ------------------------------------------------------------------------------- NUMBER 5 SOLE VOTING POWER OF 0 SHARES ------------------------------------------------------------ BENEFICIALLY 6 SHARED VOTING POWER OWNED BY EACH 2,406,250 REPORTING ------------------------------------------------------------ PERSON 7 SOLE DISPOSITIVE POWER WITH 0 ------------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 2,406,250 - ------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,406,250 - ------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / / - ------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.9% - ------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IA, CO - ------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------------- ------------------------- CUSIP NO. 759916 10 9 13D Page 6 of 9 Pages - ----------------------------- ------------------------- ITEM 1. SECURITY AND ISSUER. This Statement on Schedule 13D (this "Statement") relates to (i) Common Stock, par value $.01 per share (the "Stock"), of Repligen Corporation, a Delaware corporation ("RGEN"), and (ii) warrants to purchase Stock at $1.50 per share (the "Warrants" and, together with the Stock, the "Securities"). The principal executive office of RGEN is located at 117 Fourth Avenue, Needham, Massachusetts 02194. ITEM 2. IDENTITY AND BACKGROUND. The persons filing this Statement, the persons enumerated in Instruction C of Schedule 13D and, where applicable, their respective places of organization, general partners, directors, executive officers and controlling persons, and certain information regarding each of them, are as follows: (a) Biotechnology Value Fund, L.P., a Delaware limited partnership ("BVF"), Biotechnology Venture Partners, L.P., a Delaware limited partnership ("Venture"), BVF Partners L.P., a Delaware limited partnership ("Partners"), BVF Inc., a Delaware corporation ("BVF Inc."), and Mark N. Lampert, an individual ("Lampert") (collectively, the "Reporting Persons"). (b) The business address of BVF, Venture and Partners is 333 West Wacker Drive, Suite 1600, Chicago, Illinois 60606. The business address of BVF Inc. and Lampert is One Sansome Street, 39th Floor, San Francisco, California 94104. (c) Partners is the general partner of each of BVF and Venture, which are investment limited partnerships. BVF Inc. is an investment adviser to and general partner of Partners. Lampert is the sole shareholder, sole director and an officer of BVF Inc. (d) During the last five years, none of such persons has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors). (e) During the last five years, none of such persons was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Lampert is a citizen of the United States of America. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Not Applicable. - ----------------------------- ------------------------- CUSIP NO. 759916 10 9 13D Page 7 of 9 Pages - ----------------------------- ------------------------- ITEM 4. PURPOSE OF TRANSACTIONS. The external environment for small, quality biotechnology companies is undergoing a period of rapid and profound change. The convergence of a depressed equity market, the possible slowing pace of a corporate partnering activity, and escalating cash burn rates could produce an industry shake-out in which financially conservative companies prosper and financially weak companies falter. This changing environment may call for managements and Boards to husband capital by significantly reducing cash burn rates and to otherwise alter preconceived business plans. If managed pro-actively and intelligently, this period could yield attractive returns for shareholders. However, the consequences of complacency and the potential for irreparable missteps are great. BVF may seek to work with company managements, Boards and shareholders to maximize shareholder value and, specifically, to protect the substantial value of funded, partnered programs from unnecessary dilution. BVF IS AMENDING ALL ITS 13-D FILINGS WITH THIS NOTICE. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) BVF beneficially owns 700,000 shares of the Stock and 262,500 Warrants, Venture beneficially owns 300,000 shares of the Stock and 112,500 Warrants, Partners beneficially owns 1,750,000 shares of the Stock and 656,250 Warrants, and BVF Inc. beneficially owns 1,750,000 shares of the Stock and 656,250 Warrants, approximately 5.2%, 2.2%, 12.9% and 12.9%, respectively, of the aggregate number of shares outstanding as of July 31, 1998 (as reported in RGEN's most recent quarterly statement on Form 10-Q). Pursuant to Rule 13d-3(d)(1)(i) under the Securities Exchange Act of 1934, the percent of class calculated for each Reporting Person assumes the full exercise of all Warrants beneficially owned by such Reporting Person. (b) BVF shares voting and dispositive power over the 700,000 shares of the Stock and the 262,500 Warrants it beneficially owns with Partners. Venture shares voting and dispositive power over the 300,000 shares of the Stock and the 112,500 Warrants it beneficially owns with Partners. Partners and BVF Inc. share voting and dispositive power over the 1,750,000 shares of the Stock and the 656,250 Warrants they beneficially own with, in addition to BVF and Venture, the managed accounts on whose behalf Partners, as investment manager, purchased such shares. The managed accounts on whose behalf Partners owns shares of the Stock are Investment 10 L.L.C., an Illinois limited liability company ("ILL10"), Palamundo, L.D.C., a limited duration company organized under the laws of the Cayman Islands ("Palamundo"), ZPG Securities, L.L.C., a New York limited liability company ("ZPG") and Biotechnology Value Fund, Ltd., a Cayman Islands Corporation ("BVF Ltd."). ILL10, Palamundo, ZPG and BVF Ltd. are collectively referred to herein as the "Accounts." The Accounts specialize in holding biotechnology stocks for investment purposes and the business address of each is c/o BVF Partners L.P., 333 West Wacker Drive, Suite 1600, Chicago, Illinois 60606. - ----------------------------- ------------------------- CUSIP NO. 759916 10 9 13D Page 8 of 9 Pages - ----------------------------- ------------------------- (c) No transactions in the Securities have been effected by the Reporting Persons since July 6, 1998. (d) The Accounts are entitled to receive dividends and any sale proceeds with respect to the Securities in proportion to their respective ownership interests therein. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Partners is the general partner of BVF pursuant to a limited partnership agreement which authorizes Partners, among other things, to invest the funds of BVF in the Securities and to vote and dispose of the Securities. Partners is the general partner of Venture pursuant to a limited partnership agreement which authorizes Partners, among other things, to invest the funds of Venture in the Securities and to vote and dispose of the Securities. Pursuant to such limited partnership agreements, Partners is entitled to allocations based on assets under management and realized and unrealized gains thereon. Pursuant to investment management agreements with the Accounts, Partners and BVF Inc. have the authority, among other things, to invest funds of the Accounts in the Securities and to vote and dispose of the Securities. Pursuant to such agreements, Partners and BVF Inc. receive fees based on assets under management and realized and unrealized gains thereon. BVF Inc. is the general partner of Partners and may be deemed to own beneficially securities over which Partners exercises voting and dispositive power. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit A - Agreement Regarding Joint Filing - ----------------------------- ------------------------- CUSIP NO. 759916 10 9 13D Page 9 of 9 Pages - ----------------------------- ------------------------- 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: September 8, 1998 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 BIOTECHNOLOGY VENTURE PARTNERS, 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 EXHIBIT A AGREEMENT REGARDING JOINT FILING The undersigned, Biotechnology Value Fund, L.P., a Delaware limited partnership, Biotechnology Venture Partners, 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 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 amendments or supplements thereto shall also be filed on behalf of each of them. Dated: September 8, 1998 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 BIOTECHNOLOGY VENTURE PARTNERS, 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 -----END PRIVACY-ENHANCED MESSAGE-----