-----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, IVdNbAQmq5ISHXOJgUyLeaE7gOW0e91COKmn2l9YyXbblRjq7Mf/T9IINJGkbtVT kQ7tsH041XkZTgtIwAevQA== 0000950005-98-000165.txt : 19980218 0000950005-98-000165.hdr.sgml : 19980218 ACCESSION NUMBER: 0000950005-98-000165 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980213 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INKINE PHARMACEUTICAL CO INC CENTRAL INDEX KEY: 0000929547 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 133754005 STATE OF INCORPORATION: NY FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-47845 FILM NUMBER: 98536233 BUSINESS ADDRESS: STREET 1: 425 PARK AVE STREET 2: 27TH FL CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2123198300 MAIL ADDRESS: STREET 1: 425 PARK AVE STREET 2: 27TH FL CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: PANAX PHARMACEUTICAL CO LTD DATE OF NAME CHANGE: 19940906 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BIOTECHNOLOGY DEVELOPMENT FUND LP CENTRAL INDEX KEY: 0001053784 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 943258409 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 575 HIGH STREET STREET 2: SUITE 201 CITY: PALO ALTO STATE: CA ZIP: 94301 BUSINESS PHONE: 6506880821 MAIL ADDRESS: STREET 1: 575 HIGH STREET STREET 2: SUITE 201 CITY: PALO ALTO STATE: CA ZIP: 94301 SC 13G 1 FORM SC 13G SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No. ___)* InKine Pharmaceutical Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 69830P105 - -------------------------------------------------------------------------------- (CUSIP Number) *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). (Continued on following pages) Page 1 of 12 Pages
- -------------------------------------------------------- --------------------------------------- CUSIP NO. 69830P105 13 G Page 2 of 12 Pages - -------------------------------------------------------- --------------------------------------- - ----------- -------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Biotechnology Development Fund, LP ("BDF") Tax ID Number: 94-3258409 - ----------- -------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership - ----------- -------------------------------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 1,500,000 shares, except that BioAsia, the general partner of BDF, and BENEFICIALLY Kung, Leung and Engleman, members of BioAsia may be deemed to have OWNED BY EACH REPORTING shared power to vote these shares. PERSON WITH -------- ----------------------------------------------------------------------- 6 SHARED VOTING POWER See response to item 5. -------- ----------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 1,500,000 shares, except that BioAsia, the general partner of BDF, and Kung, Leung and Engleman, members of BioAsia may be deemed to have shared power to vote these shares. -------- ----------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER See response to item 7. - ----------------------------------- -------- ----------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,500,000 - ----------- -------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - ----------- -------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.6% - ----------- -------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ----------- -------------------------------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------------------------------- --------------------------------------- CUSIP NO. 69830P105 13 G Page 3 of 12 Pages - -------------------------------------------------------- --------------------------------------- - ----------- -------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BioAsia Investments, LLC ("BioAsia") Tax ID Number: 94-3258407 - ----------- -------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION California limited liability company - ----------- -------------------------------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------------------------------------- 6 SHARED VOTING POWER 1,500,000 shares, all of which are directly owned by BDF. BioAsia is the general partner of BDF and may be deemed to have shared power to vote these shares. -------- ----------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 -------- ----------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,500,000 shares, all of which are directly owned by BDF. BioAsia is the general partner of BDF and may be deemed to have shared power to vote these shares. - ----------- -------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,500,000 - ----------- -------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A [ ] - ----------- -------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.6% - ----------- -------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* PN - ----------- -------------------------------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------------------------------- --------------------------------------- CUSIP NO. 69830P105 13 G Page 4 of 12 Pages - -------------------------------------------------------- --------------------------------------- - ----------- -------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Frank Kung ("Kung") Tax ID Number: ###-##-#### - ----------- -------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ----------- -------------------------------------------------------------------------------------------------------- - ----------------------------------- -------- ----------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 shares BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------------------------------------- 6 SHARED VOTING POWER 1,500,000 shares, all of which are directly owned by BDF. Kung is a member of BioAsia and may be deemed to have shared power to vote these shares. -------- ----------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 shares -------- ----------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,500,000 shares, all of which are directly owned by BDF. Kung is a member of BioAsia and may be deemed to have shared power to vote these shares. - ----------------------------------- -------- ----------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,500,000 - ----------- -------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A [ ] - ----------- -------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.6% - ----------- -------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ----------- -------------------------------------------------------------------------------------------------------- SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------------------------------- --------------------------------------- CUSIP NO. 69830P105 13 G Page 5 of 12 Pages - -------------------------------------------------------- --------------------------------------- - ----------- -------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Anselm Leung ("Leung") Tax ID Number: ###-##-#### - ----------- -------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ----------- -------------------------------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 shares BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------------------------------------- 6 SHARED VOTING POWER 1,500,000 shares, all of which are directly owned by BDF. Kung is a member of BioAsia and may be deemed to have shared power to vote these shares. -------- ----------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 shares -------- ----------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,500,000 shares, all of which are directly owned by BDF. Kung is a member of BioAsia and may be deemed to have shared power to vote these shares. - ----------------------------------- -------- ----------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,500,000 - ----------- -------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A [ ] - ----------- -------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.6% - ----------- -------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ----------- -------------------------------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------------------------------- --------------------------------------- CUSIP NO. 69830P105 13 G Page 6 of 12 Pages - -------------------------------------------------------- --------------------------------------- - ----------- -------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING SS OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Edgar Engleman Tax ID Number: ###-##-#### - ----------- -------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ----------- -------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ----------- -------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ----------- -------------------------------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 shares BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH -------- ----------------------------------------------------------------------- 6 SHARED VOTING POWER 1,500,000 shares, all of which are directly owned by BDF. Kung is a member of BioAsia and may be deemed to have shared power to vote these shares. -------- ----------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER 0 shares -------- ----------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 1,500,000 shares, all of which are directly owned by BDF. Kung is a member of BioAsia and may be deemed to have shared power to vote these shares. - ----------------------------------- -------- ----------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,500,000 - ----------- -------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A [ ] - ----------- -------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.6% - ----------- -------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ----------- -------------------------------------------------------------------------------------------------------- * SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 12 ITEM 1(A). NAME OF ISSUER InKine Pharmaceuticals, Inc. ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES Sentry Park East 2720 Walton Road Blue Bell, PA 19422 ITEM 2(A). NAME OF PERSONS FILING This Statement is filed by Biotechnology Development Fund, LP ("BDF"), BioAsia Investments, LLC ("BioAsia"), Frank Kung ("Kung"), Anselm Leung ("Leung"), and Edgar Engleman ("Engleman"). The foregoing entities and individuals are collectively referred to as the "Reporting Persons." BioAsia is the general partner of BDF, and may be deemed to have indirect beneficial ownership of shares of the issuer directly owned by BDF. Kung, Leung, and Engleman are members of BioAsia, and may be deemed to have indirect beneficial ownership of the shares of issuer directly owned by BDF. BioAsia hereby disclaims beneficial ownership of shares of issuer directly owned by BDF except to the extent of any indirect pecuniary interest therein. Keung, Leung, and Engleman hereby disclaim beneficial ownership of the shares held by BDF except to the extent of any respective indirect pecuniary interest therein. ITEM 2(B). ADDRESS OF PRINCIPAL OFFICE The address for each of the Reporting Persons is: BioAsia Investments LLC 575 High Street, Suite 201 Palo Alto, CA 94301 ITEM 2(C) CITIZENSHIP BDF is a Delaware limited partnership, BioAsia is a California limited liability company, and Kung, Leung and Engleman are United States citizens. ITEM 2(D) AND (E). TITLE OF CLASS OF SECURITIES AND CUSIP NUMBER Common Stock CUSIP # 69830P105 ITEM 3. Not Applicable Page 8 of 12 ITEM 4. OWNERSHIP (a) Amount beneficially owned: See Row 9 of cover page for each Reporting Person. (b) Percent of Class: See Row 11 of cover page for each Reporting Person. (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: See Row 5 of cover page for each Reporting Person. (ii) Shared power to vote or to direct the vote: See Row 6 of cover page for each Reporting Person. (iii) Sole power to dispose or to direct the disposition of: See Row 7 of cover page for each Reporting Person. (iv) Shared power to dispose or to direct the disposition of: See Row 8 of cover page for each Reporting Person. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not applicable. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Under certain circumstances set forth in the limited partnership agreement of BDF and the limited liability company agreement of BioAsia, the general and limited partners of BDF and the members of BioAsia each may be deemed to have the right to receive dividends from, or the proceeds from, the sale of shares of the issuer owned by each such entity of which they are a partner. Page 9 of 12 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. Not applicable Page 10 of 12 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: February 6, 1998 Biotechnology Development Fund, LP By: BioAsia Investments, LLC, its general partner By: /s/ Frank Kung ------------------------------- Frank Kung, Member BIOASIA INVESTMENTS, LLC By: /s/ Frank Kung ------------------------------- Frank Kung, Member /s/ Frank Kung ---------------------------------- FRANK KUNG /s/ Anselm Leung ---------------------------------- ANSELM LEUNG /s/ Edgar Engleman ---------------------------------- EDGAR ENGLEMAN Page 11 of 12 EXHIBIT INDEX Found on Sequentially Exhibit Numbered Page - ------- ------------- Exhibit A: Agreement of Joint Filing Page 12 Page 12 of 12 EXHIBIT A Agreement of Joint Filing The undersigned hereby agree that a single Schedule 13G (or any amendment thereto) relating to the Common Stock of InKine Pharmaceutical, Inc. shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13G. Executed this 6th day of February, 1998. Biotechnology Development Fund, LP By: BioAsia Investments, LLC, its general partner By: /s/ Frank Kung ------------------------------- Frank Kung, Member BIOASIA INVESTMENTS, LLC By: /s/ Frank Kung ------------------------------- Frank Kung, Member /s/ Frank Kung ---------------------------------- FRANK KUNG /s/ Anselm Leung ---------------------------------- ANSELM LEUNG /s/ Edgar Engleman ---------------------------------- EDGAR ENGLEMAN -----END PRIVACY-ENHANCED MESSAGE-----