-----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, JhFmYN1gnCnUcfdY/EYBHe50E9a8aF5lkIApBKDw3LQrUvHJrzxjkb02ao2M2qFY 73bmStGwwTG4Ay/ZmOs2HA== 0001193125-07-250593.txt : 20071120 0001193125-07-250593.hdr.sgml : 20071120 20071119201026 ACCESSION NUMBER: 0001193125-07-250593 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20071120 DATE AS OF CHANGE: 20071119 GROUP MEMBERS: QVT ASSOCIATES GP LLC GROUP MEMBERS: QVT FINANCIAL GP LLC GROUP MEMBERS: QVT FUND LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ICAGEN INC CENTRAL INDEX KEY: 0000902622 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 561785001 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-81358 FILM NUMBER: 071258121 BUSINESS ADDRESS: STREET 1: 4222 EMPEROR BLVD STREET 2: SUITE 350 CITY: DURHAM STATE: NC ZIP: 27703 BUSINESS PHONE: 919-941-5206 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: QVT Financial LP CENTRAL INDEX KEY: 0001290162 IRS NUMBER: 113694008 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1177 AVENUE OF THE AMERICAS STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-705-8800 MAIL ADDRESS: STREET 1: 1177 AVENUE OF THE AMERICAS STREET 2: 9TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 SC 13G/A 1 dsc13ga.htm SCHEDULE 13G AMENDMENT NO. 1 Schedule 13G Amendment No. 1

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

Icagen, Inc.


(Name of Issuer)

Common Stock, par value $0.001 per share


(Title of Class of Securities)

 

 

45104P104

                                (CUSIP Number)                                 

November 14, 2007


(Date of Event Which Requires Filing of this Statement)

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

¨ Rule 13d-1(b)

x 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 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  9 pages


CUSIP No. 45104P104    

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

   
   

            QVT Financial LP

            11-3694008

   
  2.   Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a)  ¨  
    (b)  x    
  3.   SEC Use Only  
         
  4.   Citizenship or Place of Organization  
                Delaware    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

    5.    Sole Voting Power
 
                  0
    6.    Shared Voting Power
 
                  4,270,834 shares of common stock
    7.    Sole Dispositive Power
 
                  0
    8.    Shared Dispositive Power
 
                  4,270,834 shares of common stock
  9.   Aggregate Amount Beneficially Owned by Each Reporting Person    
                4,270,834 shares of common stock    
10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)   ¨
         
11.   Percent of Class Represented by Amount in Row (9)  
                10.34%    
12.   Type of Reporting Person (See Instructions)  
                PN    

 

Page 2 of  9 pages


CUSIP No. 45104P104    

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

   
   

            QVT Financial GP LLC

            11-3694007

   
  2.   Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a)  ¨  
    (b)  x    
  3.   SEC Use Only  
         
  4.   Citizenship or Place of Organization  
                Delaware    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

    5.    Sole Voting Power
 
                  0
    6.    Shared Voting Power
 
                  4,270,834 shares of common stock
    7.    Sole Dispositive Power
 
                  0
    8.    Shared Dispositive Power
 
                  4,270,834 shares of common stock
  9.   Aggregate Amount Beneficially Owned by Each Reporting Person    
                4,270,834 shares of common stock    
10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)   ¨
         
11.   Percent of Class Represented by Amount in Row (9)  
                10.34%    
12.   Type of Reporting Person (See Instructions)  
                OO    

 

Page 3 of  9 pages


CUSIP No. 45104P104    

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

   
   

            QVT Fund LP

            98-0415217

   
  2.   Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a)  ¨  
    (b)  x    
  3.   SEC Use Only  
         
  4.   Citizenship or Place of Organization  
                Cayman Islands    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

    5.    Sole Voting Power
 
                  0
    6.    Shared Voting Power
 
                  3,532,433 shares of common stock
    7.    Sole Dispositive Power
 
                  0
    8.    Shared Dispositive Power
 
                  3,532,433 shares of common stock
  9.   Aggregate Amount Beneficially Owned by Each Reporting Person    
                3,532,433 shares of common stock    
10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)   ¨
         
11.   Percent of Class Represented by Amount in Row (9)  
                8.57%    
12.   Type of Reporting Person (See Instructions)  
                PN    

 

Page 4 of  9 pages


CUSIP No. 45104P104    

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

   
   

            QVT Associates GP LLC

            01-0798253

   
  2.   Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a)  ¨  
    (b)  x    
  3.   SEC Use Only  
         
  4.   Citizenship or Place of Organization  
                Delaware    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

    5.    Sole Voting Power
 
                  0
    6.    Shared Voting Power
 
                  3,921,757 shares of common stock
    7.    Sole Dispositive Power
 
                  0
    8.    Shared Dispositive Power
 
                  3,921,757 shares of common stock
  9.   Aggregate Amount Beneficially Owned by Each Reporting Person    
                3,921,757 shares of common stock    
10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)   ¨
         
11.   Percent of Class Represented by Amount in Row (9)  
                9.5%    
12.   Type of Reporting Person (See Instructions)  
                OO    

 

Page 5 of  9 pages


Item 1  

(a).

   Name of Issuer      
     The name of the issuer is Icagen, Inc. (the “Issuer”)      
Item 1  

(b).

   Address of Issuer’s Principal Executive Offices      
    

The address of the Issuer’s principal executive offices is:

 

4222 Emperor Boulevard, Suite 350, Durham, North Carolina 27703, United States

     
Item 2  

(a).

   Name of Person Filing      
          
Item 2  

(b).

   Address of Principal Business Office or, if none, Residence      
          
Item 2  

(c).

   Citizenship      
    

QVT Financial LP

1177 Avenue of the Americas, 9th Floor

New York, New York 10036

Delaware Limited Partnership

 

QVT Financial GP LLC

1177 Avenue of the Americas, 9th Floor

New York, New York 10036

Delaware Limited Liability Company

 

QVT Fund LP

Walkers SPV, Walkers House

Mary Street

George Town, Grand Cayman, KY1 9001 Cayman Islands

Cayman Islands Limited Partnership

 

QVT Associates GP LLC

1177 Avenue of the Americas, 9th Floor

New York, New York 10036

Delaware Limited Liability Company

     
Item 2  

(d).

   Title of Class of Securities      
     The title of the securities is common stock, par value $0.001 per share (the “Common Stock”).      
Item 2  

(e).

   CUSIP Number      
     The CUSIP number of the Common Stock is 45104P104.      
Item 3.   If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:   
  (a)    ¨    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
  (b)    ¨    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
  (c)    ¨    Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
  (d)    ¨    Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
  (e)    ¨    An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
  (f)    ¨    An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
  (g)    ¨    A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
  (h)    ¨    A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
  (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 (15 U.S.C. 80a-3);
  (j)    ¨    Group, in accordance with § 240.13d-1(b)(1)(ii)(J).

 

Page 6 of  9 pages


Item 4.    Ownership.      
   (a)    Amount beneficially owned:      
      QVT Financial LP (“QVT Financial”) is the investment manager for QVT Fund LP (the “Fund”), Quintessence Fund L.P. (“Quintessence”) and a separate discretionary account managed for Deutsche Bank AG (the “Separate Account”). The Fund beneficially owns 3,532,433 shares of Common Stock, consisting of 3,035,381 shares of Common Stock and 497,052 shares of Common Stock underlying common stock purchase warrants. Quintessence beneficially owns 389,324 shares of Common Stock, consisting of 333,260 shares of Common Stock and 56,064 shares of Common Stock underlying common stock purchase warrants. The Separate Account beneficially owns 349,077 shares of Common Stock. QVT Financial has the power to direct the vote and disposition of the Common Stock held by the Fund, Quintessence and the Separate Account. Accordingly, QVT Financial may be deemed to be the beneficial owner of an aggregate amount of 4,270,834 shares of Common Stock, consisting of the shares owned by the Fund, Quintessence and the shares held in the Separate Account.      
      QVT Financial GP LLC, as General Partner of QVT Financial, may be deemed to beneficially own the same number of shares of Common Stock reported by QVT Financial. QVT Associates GP LLC, as General Partner of the Fund and Quintessence, may be deemed to beneficially own the aggregate number of shares of Common Stock owned by the Fund and Quintessence, and accordingly, QVT Associates GP LLC may be deemed to be the beneficial owner of an aggregate amount of 3,921,757 shares of Common Stock.      
      QVT Financial and QVT Financial GP LLC each acquired beneficial ownership of more than 10% of the class of equity securities as of November 14, 2007. The reported share amounts reflect amounts beneficially owned by the reporting persons as of that date, as adjusted for subsequent transactions through the date hereof.      
      Each of QVT Financial and QVT Financial GP LLC disclaims beneficial ownership of the shares of Common Stock owned by the Fund, Quintessence and held in the Separate Account. QVT Associates GP LLC disclaims beneficial ownership of all shares of Common Stock owned by the Fund and Quintessence, except to the extent of its pecuniary interest therein.      
      The percentage disclosed in Item 11 of the Cover Pages for each reporting person is calculated based upon the sum of (i) 40,733,948 shares of Common Stock outstanding, which is the total number of shares issued and outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, and (ii) the number of shares of Common Stock issuable upon exercise of the warrants held by such reporting person.      
   (b)    Percent of class:      
      See Item 11 of the Cover Pages to this Schedule 13G.      
   (c)    Number of shares as to which the person has:      
      (i)    Sole power to vote or to direct the vote      
         0      
      (ii)    Shared power to vote or to direct the vote      
         See item (a) above.      
      (iii)    Sole power to dispose or to direct the disposition of      
         0      
      (iv)    Shared power to dispose or to direct the disposition of      
         See item (a) above.      
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…..¨.   
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      
   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.      

 

Page 7 of  9 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.

 

Dated: November 19, 2007

     
QVT FINANCIAL LP     QVT FUND LP
By QVT Financial GP LLC,     By QVT Associates GP LLC,
its General Partner     its General Partner
By:  

/s/ Lars Bader

    By:  

/s/ Lars Bader

Name:   Lars Bader     Name:   Lars Bader
Title:   Managing Member     Title:   Managing Member
By:  

/s/ Tracy Fu

    By:  

/s/ Tracy Fu

Name:   Tracy Fu     Name:   Tracy Fu
Title:   Managing Member     Title:   Managing Member
QVT FINANCIAL GP LLC     QVT ASSOCIATES GP LLC
By:  

/s/ Lars Bader

    By:  

/s/ Lars Bader

Name:   Lars Bader     Name:   Lars Bader
Title:   Managing Member     Title:   Managing Member
By:  

/s/ Tracy Fu

    By:  

/s/ Tracy Fu

Name:   Tracy Fu     Name:   Tracy Fu
Title:   Managing Member     Title:   Managing Member

 

Page 8 of  9 pages


EXHIBIT A

JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on Schedule 13G signed by each of the undersigned shall be filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

 

Dated: November 19, 2007

     
QVT FINANCIAL LP     QVT FUND LP
By QVT Financial GP LLC,     By QVT Associates GP LLC,
its General Partner     its General Partner
By:  

/s/ Lars Bader

    By:  

/s/ Lars Bader

Name:   Lars Bader     Name:   Lars Bader
Title:   Managing Member     Title:   Managing Member
By:  

/s/ Tracy Fu

    By:  

/s/ Tracy Fu

Name:   Tracy Fu     Name:   Tracy Fu
Title:   Managing Member     Title:   Managing Member
QVT FINANCIAL GP LLC     QVT ASSOCIATES GP LLC
By:  

/s/ Lars Bader

    By:  

/s/ Lars Bader

Name:   Lars Bader     Name:   Lars Bader
Title:   Managing Member     Title:   Managing Member
By:  

/s/ Tracy Fu

    By:  

/s/ Tracy Fu

Name:   Tracy Fu     Name:   Tracy Fu
Title:   Managing Member     Title:   Managing Member

 

Page 9 of  9 pages

-----END PRIVACY-ENHANCED MESSAGE-----