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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QeNmNogL8NcP927+O5XHC+GEUFljz03m2p0R1wE4UpDwVASnSHU5y3RVh5JJQf3U
 bPX8OpwnsvNSmsW4QIcpCA==

<SEC-DOCUMENT>0000930413-04-003911.txt : 20040823
<SEC-HEADER>0000930413-04-003911.hdr.sgml : 20040823
<ACCEPTANCE-DATETIME>20040823175226
ACCESSION NUMBER:		0000930413-04-003911
CONFORMED SUBMISSION TYPE:	3/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040312
FILED AS OF DATE:		20040823
DATE AS OF CHANGE:		20040823

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GREAT POINT PARTNERS LLC
		CENTRAL INDEX KEY:			0001281446
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22987
		FILM NUMBER:		04992697

	MAIL ADDRESS:	
		STREET 1:		2 PICKWICK PLAZA
		STREET 2:		STE 450
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JAY JEFFREY R
		CENTRAL INDEX KEY:			0001239607

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22987
		FILM NUMBER:		04992698

	BUSINESS ADDRESS:	
		STREET 1:		WHITNEY & CO.
		STREET 2:		177 BROAD STREET
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901

	MAIL ADDRESS:	
		STREET 1:		50 FOX RUN LANE
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06831

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALENTIS INC
		CENTRAL INDEX KEY:			0000932352
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				943156660
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		863A MITTEN RD
		CITY:			BURLINGAME
		STATE:			CA
		ZIP:			94010
		BUSINESS PHONE:		6506971900

	MAIL ADDRESS:	
		STREET 1:		863A MITTEN ROAD
		CITY:			BURLINGAME
		STATE:			CA
		ZIP:			94010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEGABIOS CORP
		DATE OF NAME CHANGE:	19960716
</SEC-HEADER>
<DOCUMENT>
<TYPE>3/A
<SEQUENCE>1
<FILENAME>c33486_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3/A</documentType>

    <periodOfReport>2004-03-12</periodOfReport>

    <dateOfOriginalSubmission>2004-03-22</dateOfOriginalSubmission>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000932352</issuerCik>
        <issuerName>VALENTIS INC</issuerName>
        <issuerTradingSymbol>VLTS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001281446</rptOwnerCik>
            <rptOwnerName>GREAT POINT PARTNERS LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2 PICKWICK PLAZA, SUITE 450</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001239607</rptOwnerCik>
            <rptOwnerName>JAY JEFFREY R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2 PICKWICK PLAZA, SUITE 450</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>761453</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Biomedical Value Fund, L.P.</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>305594</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Biomedical Offshore Value Fund, Ltd.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Great Point Partners, LLC (&quot;Great Point&quot;) is the investment manager of Biomedical Value Fund, L.P. (&quot;BMVF&quot;) and by virtue of
such status may be deemed to be the beneficial owner of the shares held by BMVF. Dr. Jeffrey R. Jay, M.D., as senior
managing member of Great Point (&quot;Dr. Jay&quot;), has voting and investment power with respect to the shares held by BMVF and may
be deemed to be the beneficial owner of the shares held by BMVF. Great Point and Dr. Jay disclaim beneficial ownership of
the shares held by BMVF, except to the extent of any pecuniary interest, and this report shall not be deemed to be an
admission that they are the beneficial owners of such securities.</footnote>
        <footnote id="F2">Great Point is the investment manager of Biomedical Offshore Value Fund, Ltd. (&quot;BOVF&quot;) and by virtue of such status may be
deemed to be the beneficial owner of the shares held by BOVF. Dr. Jay, as senior managing member of Great Point, has voting
and investment power with respect to the shares held by BOVF and may be deemed to be the beneficial owner of the shares held
by BOVF. Great Point and Dr. Jay disclaim beneficial ownership of the shares held by BOVF, except to the extent of any
pecuniary interest, and this report shall not be deemed to be an admission that they are the beneficial owners of such
securities.</footnote>
    </footnotes>

    <remarks>This Amendment is being filed solely to reduce the number of shares previously reported in this Form 3 as being owned which
included shares subsequently purchased after 03/12/2004. All other information remains unchanged. The subsequently
purchased shares are being reported separately on a Form 4 being filed contemporaneously with the filing of this Amendment.</remarks>

    <ownerSignature>
        <signatureName>/s/ Dr. Jeffrey R. Jay, M.D., as senior managing member for Great Point Partners, LLC</signatureName>
        <signatureDate>2004-08-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Dr. Jeffrey R. Jay, M.D.</signatureName>
        <signatureDate>2004-08-23</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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