-----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, QxQifp6bvVhjGR9uhRVzNhKCHnwmaxpXWD1s/xv9VGR1Xe8LYHfjzKA87jcYFhUZ zhqZWfP+Te0NU6wfPO+wXg== 0000950123-97-000185.txt : 19970113 0000950123-97-000185.hdr.sgml : 19970113 ACCESSION NUMBER: 0000950123-97-000185 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970110 SROS: NASD GROUP MEMBERS: JOHNSON & JOHNSON GROUP MEMBERS: JOHNSON & JOHNSON DEVELOPMENT CORPORATION SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PROTEIN POLYMER TECHNOLOGIES INC CENTRAL INDEX KEY: 0000858155 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 330311631 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-42404 FILM NUMBER: 97503840 BUSINESS ADDRESS: STREET 1: 10655 SORRENTO VALLEY RD CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 6195586064 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JOHNSON & JOHNSON CENTRAL INDEX KEY: 0000200406 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 221024240 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: ONE JOHNSON & JOHNSON PLZ CITY: NEW BRUNSWICK STATE: NJ ZIP: 08933 BUSINESS PHONE: 9085240400 SC 13D 1 SCHEDULE 13D 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. )* PROTEIN POLYMER TECHNOLOGIES, INC. (Name of Issuer) COMMON STOCK (Title of Class of Securities) 743697 10 4 (CUSIP Number) Michael Ullmann, Esq. Johnson & Johnson One Johnson & Johnson Plaza New Brunswick, NJ 08933 (908) 524-2464 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 26, 1996 (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. *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 ("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 10 Pages 2 SCHEDULE 13D - --------------------- -------------------- CUSIP NO. 743697 10 4 PAGE 2 OF 10 PAGES - --------------------- -------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Johnson & Johnson 22-1024240 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New Jersey - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY --------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON 520,480 WITH --------------------------------------------------------- 9 SOLE DISPOSITIVE POWER -0- --------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 520,480 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 520,480 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.22% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 3 SCHEDULE 13D - --------------------- -------------------- CUSIP NO. 743697 10 4 PAGE 3 OF 10 PAGES - --------------------- -------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Johnson & Johnson Development Corporation 22-2007137 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New Jersey - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY --------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON 520,480 WITH --------------------------------------------------------- 9 SOLE DISPOSITIVE POWER -0- --------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 520,480 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 520,480 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.22% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 4 CUSIP No. 743697 10 4 Page 4 of 10 Pages Item 1. Security and Issuer: Common Stock, $0.01 par value ("Common Stock") Protein Polymer Technologies, Inc. 10655 Sorrento Valley Road San Diego, CA 92121 Item 2. Identity and Background: (a) Johnson & Johnson ("J&J") and Johnson & Johnson Development corporation ("JJDC"), both New Jersey corporations (b) One Johnson & Johnson Plaza, New Brunswick, New Jersey 08933 (c) The principal business of J&J is health care products. JJDC is a wholly-owned subsidiary of J&J engaged in the venture capital business. The name, citizenship, residence or business address and principal occupation or employment (and the name, principal business and address of any corporation or other organization in which such employment is conducted) of each director and executive officer of J&J and JJDC is set forth on Appendix A hereto. (d),(e) To the best of J&J's knowledge, neither J&J nor any of its directors or executive officers has, during the past five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been 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. To the best of JJDC's knowledge, neither JJDC nor any of its directors or executive officers has, during the past five years: (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been 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 5 CUSIP No. 743697 10 4 Page 5 of 10 Pages mandating activities subject to, Federal or State securities laws of finding any violation with respect to such laws. (f) Not applicable. Item 3. Source and Amount of Funds or Other Consideration: On March 19, 1996, JJDC purchased from Protein Polymer Technologies, Inc. (the "Company") 220,000 shares of Common Stock of the Company for $275,000.00 ($1.25 per share) through exercise of a warrant issued in July 1994. On August 26, 1996, JJDC purchased from the Company 300,480 shares of Common Stock of the Company for $375,600.00 ($1.25 per share) through exercise of a warrant issued in September 1995. No funds were borrowed to finance either purchase. Item 4. Purpose of Transaction: On July 1, 1994, the Company entered into a Securities Purchase Agreement with JJDC, pursuant to which JJDC purchased 11,000 shares of the Company's Series C Preferred Stock, and a warrant to purchase up to 220,000 shares of Common Stock (the "1994 Warrant"), for an aggregate consideration of $1,100,000. In September 1995, the Company entered into a license and development agreement and a supply agreement with Ethicon, Inc., an affiliate of J&J and JJDC, which has since been modified by the parties. In conjunction with those agreements, the Company also entered into a Securities Purchase Agreement with JJDC, pursuant to which JJDC purchased 27,317 shares of the Company's Series D 10% Cumulative Convertible Preferred Stock, and a warrant to purchase up to 300,480 shares of Common Stock (the "1995 Warrant"), in exchange for consideration of $2,731,700, which was comprised of $1,250,000 as a cash payment, the exchange of all Series C Preferred Stock of the Company held by JJDC at such time, the repayment of a loan from JJDC to the Company, as well as payments of dividends and interests due. On March 19, 1996, JJDC exercised the 1994 Warrant and acquired 220,000 shares of Common Stock of the Company. On August 26, 1996, JJDC exercised the 1995 Warrant and purchased 300,480 shares of Common Stock of the Company. Item 5. Interest in Securities of the Issuer: (a) As of August 26, 1996, J&J and JJDC each had beneficial ownership of an aggregate of 520,480 shares of Common Stock, which constituted approximately 7.22% of the outstanding shares of Common Stock at that time. In addition, as of August 26, 1996, 6 CUSIP No. 743697 10 4 Page 6 of 10 Page J&J and JJDC each had beneficial ownership of an aggregate of 27,317 shares of the Company's Series D 10% Cumulative Convertible Preferred Stock, which is non-voting and generally not convertible until September 14, 1997. (b) J&J and JJDC each have shared power to vote and shared power to dispose of all shares described in paragraph (a) above. (c) On January 6, 1997, JJDC purchased from the Company 400,000 shares of Common Stock at a price of $2.50 per share, in a private placement. Each of J&J and JJDC has beneficial ownership of such 400,000 shares. To the best knowledge of J&J and JJDC, no director or executive officer of J&J or JJDC beneficially owns any shares of Common Stock or other securities of the Company. Neither J&J nor JJDC is aware of any transaction in such securities during the past sixty (60) days by any of its executive officers or directors. (d) Not applicable. (e) Not applicable. Item 6. Contracts, Arrangements, etc.: The shares of Common Stock purchased pursuant to the exercise of 1994 Warrant and the 1995 Warrant and the Series D Preferred Stock held by JJDC were purchased pursuant to Securities Purchase Agreements among the Company and JJDC dated July 1, 1994 and September 8, 1995. Item 7. Exhibits: Exhibit 7.1 - Securities Purchase Agreement dated July 1, 1994 between the Company and JJDC (incorporated by reference to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 1994, as filed with the Commission on August 14, 1994). Exhibit 7.2 - Securities Purchase Agreement dated September 8, 1995 between the Company and JJDC (incorporated by reference to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 1995, as filed with the Commission on October 24, 1995). 7 CUSIP No. 743697 10 4 Page 7 of 10 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. JOHNSON & JOHNSON Dated: January 10, 1997 By /s/ Peter S. Galloway ------------------------ Name: Peter S. Galloway Title: Secretary JOHNSON & JOHNSON DEVELOPMENT CORPORATION Dated: January 10, 1997 By /s/ Peter S. Galloway ------------------------ Name: Peter S. Galloway Title: Secretary 8 CUSIP No. 743697 10 4 Page 8 of 10 Pages APPENDIX A Board of Directors and Executive Officers of Johnson & Johnson The directors and executive officers of Johnson & Johnson are identified in the table below. Directors of Johnson & Johnson are indicated by an asterisk.
Name Business Address Citizenship Principal Occupation - ---- ---------------- ----------- -------------------- 1. Professor Sir James Black(*) The James Black Foundation United Kingdom Professor and Head of the 68 Half Moon Lane Department of Analytical Dulwich, London SE249JE Pharmacology at the Rayne England Institute, King's College School of Medicine, Chairman of the James Black Foundation 2. Dr. Gerard N. Burrow(*) Yale New Haven School of Medicine United States Dean of the Yale University School 333 Cedar Street of Medicine since 1992 New Haven, CT 06510 3. Joan Ganz Cooney(*) Children's Television Workshop United States Chairman, Children's Television One Lincoln Plaza Workshop New York, NY 10023 4. James Cullen (*) Bell Atlantic Corporation United States Vice Chairman of the Board, Bell 1310 North Court House Road Atlantic Corporation Arlington, VA 22201 5. Russell C. Deyo Johnson & Johnson United States Corporate Vice President, One Johnson & Johnson Plaza Administration, and Member, New Brunswick, NJ 08933 Executive Committee of Johnson & Johnson 6. Roger S. Fine Johnson & Johnson United States Vice President and General Counsel One Johnson & Johnson Plaza and Member, Executive Committee of New Brunswick, NJ 08933 Johnson & Johnson 7. George S. Frazza Johnson & Johnson United States Member, Executive Committee of One Johnson & Johnson Plaza Johnson & Johnson New Brunswick, NJ 08933 8. Ronald G. Gelbman Johnson & Johnson United States Member, Executive Committee of One Johnson & Johnson Plaza Johnson & Johnson New Brunswick, NJ 08933 9. Philip M. Hawley (*) Philip M. Hawley United States Former Chairman and Chief Suite 2280 Executive Officer of Carter Hawley 444 South Flower Street Hale Stores, Inc. Los Angeles, CA 90071-2900 10. JoAnn H. Heisen Johnson & Johnson United States Corporate Vice President, Chief One Johnson & Johnson Plaza Information Officer, and Member, New Brunswick, NJ 08933 Executive Committee of Johnson & Johnson 11. Clark H. Johnson(*) Johnson & Johnson United States Member, Executive Committee and One Johnson & Johnson Plaza Vice President, Finance of Johnson New Brunswick, NJ 08933 & Johnson 12. Ann Dibble Jordan(*) Johnson & Johnson United States Director of various other One Johnson & Johnson Plaza corporations New Brunswick, NJ 08933 13. Christian A. Koffmann Johnson & Johnson France Member, Executive Committee of One Johnson & Johnson Plaza Johnson & Johnson New Brunswick, NJ 08933
9 CUSIP No. 743697 10 4 Page 9 of 10 Pages
Name Business Address Citizenship Principal Occupation - ---- ---------------- ----------- -------------------- 14. Arnold G. Langbo(*) 111 Capital Avenue, S.W. Canada Chairman of the Board and Chief Battle Creek, MI 49015 Executive Officer of the Kellogg Company 15. Ralph S. Larsen(*) Johnson & Johnson United States Chairman, Board of Directors, One Johnson & Johnson Plaza Chief Executive Officer and New Brunswick, NJ 08933 Chairman, Executive Committee, of Johnson & Johnson 16. James T. Lenehan Johnson & Johnson United States Member, Executive Committee of One Johnson & Johnson Plaza Johnson & Johnson New Brunswick, NJ 08933 17. Dr. John S. Mayo(*) AT&T Bell Laboratories, Inc. United States President, Emeritus, AT&T Bell 600 Mountain Avenue Laboratories, Inc. Murray Hill, NJ 07974 18. Thomas S. Murphy(*) Capital Cities/ABC, Inc. United States Chairman of the Board and Chief 77 West 66th Street Executive Officer of Capital New York, NY 10023-6298 Cities/ABC 19. Paul J. Rizzo (*) IBM Corporation United States Retired Vice Chairman of Old Orchard Road International Business Machines Armonk, NY 10504 Corporation 20. Maxine F. Singer, Ph.D.(*) Carnegie Institution of United States President of the Carnegie Washington Institution of Washington 1530 P Street, N.W. Washington, D.C. 20005-1910 21. Roger B. Smith (*) United States Retired Chairman of General Motors Johnson & Johnson Corporation, Member of the One Johnson & Johnson Plaza Business Council and Trustee of New Brunswick NJ 08933 the Alfred P. Sloan Foundation 22. Robert N. Wilson(*) Johnson & Johnson United States Vice Chairman, Board of Directors One Johnson & Johnson Plaza and Vice Chairman, Executive New Brunswick, NJ 08933 Committee of Johnson & Johnson
10 CUSIP No. 743697 10 4 Page 10 of 10 Pages Board of Directors and Executive Officers of Johnson & Johnson Development Corporation The directors and executive officers of Johnson & Johnson Development Corporation are identified in the table below. Directors of Johnson & Johnson Development Corporation are indicated by an asterisk.
Name Business Address Citizenship Principal Occupation - ---- ---------------- ----------- -------------------- 1. William L. Brower, Jr.(*) McNeil Consumer Products United States Vice President Finance, McNeil Company Consumer Products Company Camp Hill Road Fort Washington, PA 19034 2. Robert Croce(*) Johnson & Johnson United States Company Group Chairman, Johnson One Johnson & Johnson Plaza & Johnson New Brunswick, NJ 08933 3. Blair M. Flicker (*) Johnson & Johnson United States Director of Johnson & Johnson One Johnson & Johnson Plaza Development Corporation New Brunswick, NJ 08933 4. Peter S. Galloway Johnson & Johnson United States Secretary and Associate General One Johnson & Johnson Plaza Counsel of Johnson & Johnson New Brunswick, NJ 08933 5. Dr. Robert Gussin(*) Johnson & Johnson United States Vice President, Science and One Johnson & Johnson Plaza Technology of Johnson & Johnson New Brunswick, NJ 08933 6. Susan Lambert(*) Johnson & Johnson United Kingdom Vice President of One Johnson & Johnson Plaza Johnson & Johnson Development New Brunswick, NJ 08933 Corporation 7. Alfred T. Mays (*) Johnson & Johnson United States President, McNeil Specialty One Johnson & Johnson Plaza Products Company; and Vice New Brunswick, NJ 08933 President of Johnson & Johnson Development Corporation 8. Ting Pau Oei(*) Johnson & Johnson United States Vice President of One Johnson & Johnson Plaza Johnson & Johnson Development New Brunswick, NJ 08933 Corporation 9. Peter T. Tattle(*) Johnson & Johnson Canada Company Group Chairman, Johnson One Johnson & Johnson Plaza & Johnson New Brunswick, NJ 08933 10. James R. Utaski(*) Johnson & Johnson United States Corporate Vice President, One Johnson & Johnson Plaza Business Development of Johnson New Brunswick, NJ 08933 & Johnson; President of Johnson & Johnson Development Corporation 11. Dr. Brad Vale(*) Johnson & Johnson United States Vice President of One Johnson & Johnson Plaza Johnson & Johnson Development New Brunswick, NJ 08933 Corporation
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