-----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, FXGjsaREgqf1NucBcydtCpHtx6a04x1jnnIRbnOoLFPomF6Q0o6TKX6sbB3vOch/ AMWgQdkbMNBbM9QIkY1Sew== 0000898432-06-000384.txt : 20060417 0000898432-06-000384.hdr.sgml : 20060417 20060417115526 ACCESSION NUMBER: 0000898432-06-000384 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20060417 DATE AS OF CHANGE: 20060417 GROUP MEMBERS: BIOTECHNOLOGY VALUE FUND II, L.P. GROUP MEMBERS: BVF INC. GROUP MEMBERS: BVF INVESTMENTS, L.L.C. GROUP MEMBERS: BVF PARTNERS L.P. GROUP MEMBERS: INVESTMENT 10, L.L.C. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TAPESTRY PHARMACEUTICALS, INC CENTRAL INDEX KEY: 0000891504 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 841187753 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-49101 FILM NUMBER: 06761601 BUSINESS ADDRESS: STREET 1: 4840 PEARL EAST CIRCLE STREET 2: SUITE 300W CITY: BOULDER STATE: CO ZIP: 80301 BUSINESS PHONE: 303-516-8500 MAIL ADDRESS: STREET 1: 4840 PEARL EAST CIRCLE STREET 2: SUITE 300W CITY: BOULDER STATE: CO ZIP: 80301 FORMER COMPANY: FORMER CONFORMED NAME: NAPRO BIOTHERAPEUTICS INC DATE OF NAME CHANGE: 19940421 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BIOTECHNOLOGY VALUE FUND L P CENTRAL INDEX KEY: 0000918923 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 363924731 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 227 W MONROE STREET, SUITE 4800 STREET 2: 227 W MONROE STREET, SUITE 4800 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 415-288-23 MAIL ADDRESS: STREET 1: 227 W MONROE STREET, SUITE 4800 STREET 2: 227 W MONROE STREET, SUITE 4800 CITY: CHICAGO STATE: IL ZIP: 60606 SC 13G 1 bvf-tapestry_sc13g.htm

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

SCHEDULE 13G
(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No.   )1

    Tapestry Pharmaceuticals, Inc.
(Name of Issuer)		    

 
 
 
 
 
    Common Stock
(Title of Class of Securities)		    

 
 
 
 
 
    876031204
(CUSIP Number)		    

 
 
 
 
 
    April 5, 2006
(Date of Event Which Requires Filing of this Statement)		    

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

    o Rule 13d-1(b)
x Rule 13d-1(c)
o Rule 13d-1(d)

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 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 purposes 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).

      
CUSIP No. 876031204   13G   Page 2 of 11 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)  o
         
3   SEC USE ONLY    

 
 
 
 
 
4   CITIZENSHIP OR PLACE OF ORGANIZATION

 
 
Delaware
 
 
    5   SOLE VOTING POWER
NUMBER OF       0
SHARES  
BENEFICIALLY   6   SHARED VOTING POWER
OWNED       356,937(1)
BY  
EACH   7   SOLE DISPOSITIVE POWER
REPORTING       0
PERSON  
WITH:   8   SHARED DISPOSITIVE POWER
        356,937(1)
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 
 
356,937(1)
 
 
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   o

 
 
 
 
 
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)    

 
 
2.1%(1)(2)
 
 
12   TYPE OF REPORTING PERSON*    

 
 
PN
 
 
           See attached for footnotes.

*SEE INSTRUCTIONS BEFORE FILLING OUT!

      
CUSIP No. 876031204   13G   Page 3 of 11 Pages
      
1   NAME OF REPORTING PERSON:
Biotechnology Value Fund II, 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)  o
         
3   SEC USE ONLY    

 
 
 
 
 
4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 
 
Delaware
 
 
    5   SOLE VOTING POWER
NUMBER OF       0
SHARES  
BENEFICIALLY   6   SHARED VOTING POWER
OWNED       244,541(1)
BY  
EACH   7   SOLE DISPOSITIVE POWER
REPORTING       0
PERSON  
WITH:   8   SHARED DISPOSITIVE POWER
        244,541(1)
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 
 
244,541(1)
 
 
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   o

 
 
 
 
 
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    

 
 
1.5%(1)(2)
 
 
12   TYPE OF REPORTING PERSON*    

 
 
PN
 
 
           See attached for footnotes.

*SEE INSTRUCTIONS BEFORE FILLING OUT!

      
CUSIP No. 876031204   13G   Page 4 of 11 Pages
      
1   NAME OF REPORTING PERSON:
BVF Investments, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):		    
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)  x
        (b)  o
         
3   SEC USE ONLY    

 
 
 
 
 
4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 
 
Delaware
 
 
    5   SOLE VOTING POWER
NUMBER OF       0
SHARES  
BENEFICIALLY   6   SHARED VOTING POWER
OWNED       932,816(1)
BY  
EACH   7   SOLE DISPOSITIVE POWER
REPORTING       0
PERSON  
WITH:   8   SHARED DISPOSITIVE POWER
        932,816(1)
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 
 
932,816(1)
 
 
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*   o

 
 
 
 
 
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)    

 
 
5.7%(1)(2)
 
 
12   TYPE OF REPORTING PERSON*    

 
 
OO
 
 
           See attached for footnotes.

*SEE INSTRUCTIONS BEFORE FILLING OUT!

      
CUSIP No. 876031204   13G   Page 5 of 11 Pages
      
1   NAME OF REPORTING PERSON:
Investment 10, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):		    
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)  x
        (b)  o
         
3   SEC USE ONLY    

 
 
 
 
 
4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 
 
Illinois
 
 
    5   SOLE VOTING POWER
NUMBER OF       0
SHARES  
BENEFICIALLY   6   SHARED VOTING POWER
OWNED       102,856(1)
BY  
EACH   7   SOLE DISPOSITIVE POWER
REPORTING       0
PERSON  
WITH:   8   SHARED DISPOSITIVE POWER
        102,856(1)
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 
 
102,856(1)
 
 
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*   o

 
 
 
 
 
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    

 
 
0.6%(1)(2)
 
 
12   TYPE OF REPORTING PERSON*    

 
 
OO
 
 
           See attached for footnotes.

*SEE INSTRUCTIONS BEFORE FILLING OUT!

      
CUSIP No. 876031204   13G   Page 6 of 11 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)  o
         
3   SEC USE ONLY    

 
 
 
 
 
4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 
 
Delaware
 
 
    5   SOLE VOTING POWER
NUMBER OF       0
SHARES  
BENEFICIALLY   6   SHARED VOTING POWER
OWNED       1,637,150(1)
BY  
EACH   7   SOLE DISPOSITIVE POWER
REPORTING       0
PERSON  
WITH:   8   SHARED DISPOSITIVE POWER
        1,637,150(1)
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 
 
1,637,150(1)
 
 
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*   o

 
 
 
 
 
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    

 
 
9.9%(1)(2)
 
 
12   TYPE OF REPORTING PERSON*    

 
 
PN
 
 
           See attached for footnotes.

*SEE INSTRUCTIONS BEFORE FILLING OUT!

      
CUSIP No. 876031204   13G   Page 7 of 11 Pages
      
1   NAME OF REPORTING PERSON:
BVF Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):		    
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (a)  x
        (b)  o
         
3   SEC USE ONLY    

 
 
 
 
 
4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 
 
Delaware
 
 
    5   SOLE VOTING POWER
NUMBER OF       0
SHARES  
BENEFICIALLY   6   SHARED VOTING POWER
OWNED       1,637,150(1)
BY  
EACH   7   SOLE DISPOSITIVE POWER
REPORTING       0
PERSON  
WITH:   8   SHARED DISPOSITIVE POWER
        1,637,150(1)
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 
 
1,637,150(1)
 
 
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*   o

 
 
 
 
 
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)    

 
 
9.9%(1)(2)
 
 
12   TYPE OF REPORTING PERSON*    

 
 
IA, CO
 
 
           See attached for footnotes.

*SEE INSTRUCTIONS BEFORE FILLING OUT!

      
CUSIP No. 876031204   13G   Page 8 of 11 Pages
      

The following footnotes relate to pages 2 through 7:

(1) With respect to the securities reported in this Schedule 13G, the Reporting Persons purchased 1,500,000 shares of Common Stock (as defined in Item 2(d)) and received 1,500,000 Warrants (as defined in Item 2(d)) from the issuer in a private placement transaction on April 5, 2006. The Warrants are exercisable for an equivalent number of shares of Common Stock at an exercise price of $2.40 per share (subject to adjustment), at any time until expiration on April 5, 2011. The Warrants provide that in no event shall the Warrants be exercisable if the shares of Common Stock to be issued upon any exercise of the Warrants, after taking into consideration the shares of Common Stock already owned by the Reporting Persons, would result in the beneficial ownership by the Reporting Persons of greater than 9.999% (the "Limitation") of the total number of issued and outstanding shares of Common Stock of the issuer. The Reporting Persons have the right to waive the Limitation upon 61 days written notice to the issuer. Accordingly, the Reporting Persons are deemed to be the owners of 1,637,150 shares of Common Stock, or 9.9% of the shares of Common Stock deemed issued and outstanding as of April 5, 2006. This number assumes the beneficial ownership of the Warrants subject to the Limtiation.

(2) The percentage calculations are based on 16,235,434 shares of Common Stock outstanding and only 137,150 shares of Common Stock issuable upon any exercise of the Warrants held by the Reporting Persons as a result of the Limitation.

      
CUSIP No. 876031204   13G   Page 9 of 11 Pages
      

ITEM 1(a).
 
NAME OF ISSUER:

Tapestry Pharmaceuticals, Inc. ("Tapestry")

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

4840 Pearl East Circle, Suite 300W
Boulder, Colorado 80301

ITEM 2(a).
 
NAME OF PERSON FILING:

         This Schedule 13G is being filed on behalf of the following persons (the "Reporting Persons"):

 
 
(i)
 
Biotechnology Value Fund, L.P. ("BVF")
    (ii)   Biotechnology Value Fund II, L.P. ("BVF2")
    (iii)   BVF Investments, L.L.C. ("Investments")
    (iv)   Investment 10, L.L.C. ("ILL10")
    (v)   BVF Partners L.P. ("Partners")
    (vi)   BVF Inc. ("BVF Inc.")

ITEM 2(b).
 
ADDRESS OF PRINCIPAL BUSINESS OFFICE:

        The principal business office of the persons comprising the group filing this Schedule 13G is located at 900 North Michigan Avenue, Suite 1100, Chicago, Illinois, 60611.

ITEM 2(c).
 
CITIZENSHIP:

    BVF:   a Delaware limited partnership
    BVF2:   a Delaware limited partnership
    Investments:   a Delaware limited liability company
    ILL10:   an Illinois limited liability company
    Partners:   a Delaware limited partnership
    BVF Inc.:   a Delaware corporation

ITEM 2(d).
 
TITLE OF CLASS OF SECURITIES:

         This Schedule 13G is being filed with respect to the common stock, par value $0.0075 per share (the "Common Stock"), of Tapestry. The Reporting Persons' percentage ownership of the Common Stock is based on (i) 16,235,434 shares of Common Stock being outstanding and (ii) the beneficial ownership by the Reporting Persons of 137,150 warrants (the "Warrants") to purchase an equivalent number of shares of the Common Stock. See the discussion in footnote (1) for a discussion of the Warrants held by the Reporting Persons, including the Limitation (as defined in footnote (1)).

         As of April 5, 2006, (i) BVF beneficially owned 356,937 shares of Common Stock, of which 29,902 shares are attributable to Warrants; (ii) BVF2 beneficially owned 244,541 shares of Common Stock, of which 20,486 shares are attributable to Warrants; (iii) Investments beneficially owned 932,816 shares of Common Stock, of which 78,145 shares are attributable to Warrants; and (iv) ILL10 beneficially owned 102,856 shares of Common Stock, of which 8,617 shares are attributable to Warrants. Beneficial ownership by Partners and BVF Inc. includes 1,637,150 shares of Common Stock, of which 137,150 shares are attributable to Warrants.

ITEM 2(e).
 
CUSIP Number:

 
 
 876031204

      
CUSIP No. 876031204   13G   Page 10 of 11 Pages
      

ITEM 3.
 
IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS: One of the following

 
 
Not applicable as this Schedule 13G is filed pursuant to Rule 13d-1(c).

ITEM 4.
 
OWNERSHIP:

 
 
The information in items 1 and 5 through 11 on the cover pages (pp. 2 - 7) on this Schedule 13G is hereby incorporated by reference.

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

 
 
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities check the following. o

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

 
 
Pursuant to the operating agreement of Investments, Partners is authorized, among other things, to invest the funds of Ziff Asset Management, L.P., the majority member of Investments, in shares of the Common Stock and to vote and exercise dispositive power over those shares of the Common Stock. Partners and BVF Inc. share voting and dispositive power over shares of the Common Stock beneficially owned by BVF, BVF2, Investments and those owned by ILL10, on whose behalf Partners acts as an investment manager and, accordingly, Partners and BVF Inc. have beneficial ownership of all of the shares of the Common Stock owned by such parties.

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 A GROUP:

 
 
Not applicable.

ITEM 9.
 
NOTICE OF DISSOLUTION OF GROUP:

 
 
Not applicable.

      
CUSIP No. 876031204   13G   Page 11 of 11 Pages
      
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.

        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:   April 14, 2006

 
 
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 VALUE FUND II, 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 INVESTMENTS, L.L.C.

 
 
By:
 
BVF Partners L.P., its manager

 
 
 
 
By:
 
BVF Inc., its general partner

 
 
 
 
 
 
By:
 
/s/  MARK N. LAMPERT      
               
Mark N. Lampert
President

 
 
INVESTMENT 10, L.L.C.

 
 
By:
 
BVF Partners L.P., its attorney-in-fact

 
 
 
 
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
 EX-99 2 exhibit_99.htm

EXHIBIT 1

AGREEMENT REGARDING JOINT FILING

                The undersigned, Biotechnology Value Fund, L.P., a Delaware limited partnership, Biotechnology Value Fund II, L.P., a Delaware limited partnership, BVF Investments, L.L.C., a Delaware limited liability company, Investment 10, L.L.C., an Illinois limited liability company, BVF Partners L.P., a Delaware limited partnership, and BVF Inc., a Delaware corporation, hereby agree and acknowledge that the information required by Schedule 13G, 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:   April 14, 2006

 
 
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 VALUE FUND II, 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 INVESTMENTS, L.L.C.

 
 
By:
 
BVF Partners L.P., its manager

 
 
 
 
By:
 
BVF Inc., its general partner

 
 
 
 
 
 
By:
 
/s/  MARK N. LAMPERT      
               
Mark N. Lampert
President

 
 
INVESTMENT 10, L.L.C.

 
 
By:
 
BVF Partners L.P., its attorney-in-fact

 
 
 
 
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
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