SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Hove Anders D (Last) (First) (Middle) C/O VENROCK ASSOCIATES 30 ROCKEFELLER PLAZA, ROOM 5508 (Street) NEW YORK NY 10112 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Trubion Pharmaceuticals, Inc [ TRBN ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 10/23/2006
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/23/2006		C		302,527	A	(1)	302,527	I	By Fund(2)
Common Stock	10/23/2006		P		5,840	A	$13	308,367	I	By Fund(2)
Common Stock	10/23/2006		C		1,483,474	A	(1)	1,483,474	I	By Fund(3)
Common Stock	10/23/2006		P		28,637	A	$13	1,512,111	I	By Fund(3)
Common Stock	10/23/2006		C		36,450	A	(1)	36,450	I	By Fund(4)
Common Stock	10/23/2006		P		704	A	$13	37,154	I	By Fund(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$13.78	10/23/2006		A		12,500		(5)	10/23/2016	Common Stock	12,500	(7)	12,500	D
Series B Preferred Stock	(1)	10/23/2006		C			302,527	(6)	(6)	Common Stock	302,527	(7)	0	I	By Fund(2)
Series B Preferred Stock	(1)	10/23/2006		C			1,483,474	(6)	(6)	Common Stock	1,483,474	(7)	0	I	By Fund(3)
Series B Preferred Stock	(1)	10/23/2006		C			36,450	(6)	(6)	Common Stock	36,450	(7)	0	I	By Fund(4)

Explanation of Responses:

1. Upon the closing of the Issuer's initial public offering, each share of Series B Preferred Stock was automatically converted into Common Stock on a 1-for-1 basis.

2. Securities held of record by Venrock Partners, L.P., a limited partnership of which Venrock Partners Management, LLC is the General Partner. Anders D. Hove is a Member of Venrock Partners Management, LLC and disclaims beneficial ownership of these securities except to the extent of his pro-rata interest.

3. Securities held of record by Venrock Associates IV, L.P., a limited partnership of which Venrock Management IV, LLC is the General Partner. Anders D. Hove is a Member of Venrock Management IV, LLC and disclaims beneficial ownership of these securities except to the extent of his pro-rata interest.

4. Securities held of record by Venrock Entrepreneurs Fund IV, L.P., a limited partnership of which VEF Management IV, LLC is the General Partner. Anders D. Hove is a Member of VEF Management IV, LLC and disclaims beneficial ownership of these securities except to the extent of his pro-rata interest.

5. Stock Option Grant to purchase 12,500 shares of Trubion Pharmaceuticals, Inc. Common Stock at $13.78 per share, granted on October 23, 2006 under the terms of the Issuer's 2006 Equity Incentive Plan. The option vests annually over three years from the date of grant.

6. Shares of Preferred Stock were convertible into Common Stock at any time and had no expiration date. All outstanding shares of Preferred Stock were automatically converted into shares of Common Stock upon the closing of the Issuer's initial public offering.

7. Not applicable.

Remarks:

	Anders D. Hove	10/25/2006
	** Signature of Reporting Person	Date
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