FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

OMB APPROVAL OMB Number: 3235-0104 Expires: January 31, 2005

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

(Print or Type Responses)

1. Name and Address of Reporting Person*

2. Date of Event

4. Issuer Name and Ticker or Trading Symbol

SC Biotechnology Development Fund LP

Requiring Statement (Month/Day/Year)

DepoMed, Inc. (DMI)

(Last)

(First)

(Middle)

April 21, 2003

5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

6. If Amendment, Date of Original (Month/Day/Year)

One Capital Place, P.O. Box 897 GT Grand Cayman

3. I.R.S. Identification

Director

X

10% Owner

(Street)

Number of Reporting

Officer (give

Other (specify

7. Individual or Joint/Group

Person, if an entity

title below)

below)

Filing(Check Applicable Line)

(voluntary)

Form filed by One Reporting Person

Cayman Islands

X

Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I ¾ Non-Derivative Securities Beneficially Owned

1. Title of Security (Instr. 4)

2. Amount of Securities Beneficially Owned (Instr. 4)

3. Ownership Form: Direct (D) or Indirect (I)      (Instr. 5)

4. Nature of Indirect Beneficial Ownership (Instr. 5)

Common Stock, no par value per share

462,962

D (1)

1. Title of Derivative Security (Instr. 4)

2. Date Exer-cisable and Expiration Date (Month/Day/Year)

3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)

4. Conver-sion or Exercise Price of Deri- vative Security

5. Owner- ship Form of Deriv- ative Security: Direct

6. Nature of Indirect Beneficial Ownership (Instr. 5)

Date Exer-cisable

Expiration Date

Title

Amount of Number of Shares

(D) or Indirect (I) (Instr. 5)

Warrant (Right to Buy)

7/21/03

Common Stock

162,037

$2.16

D (1)

Explanation of Responses: (1) SC Biotechnology Development Fund LP ("SC Biotech") beneficially owns 462,962 shares of Common Stock, no par value per share, of the Issuer (the "Common Stock") and 162,037 shares of Common Stock underlying warrants which become exercisable on July 21, 2003, (collectively the "Shares"). SC (GP) Inc. serves as the general partner of SC Biotech and as such may be deemed to be the indirect beneficial owner of the Shares. SC (GP) Inc., however, expressly disclaims beneficial ownership of the Shares except to the extent of its pecuniary interest therein.

[See Attachment]

[See Attachment]

**Signature of Reporting Person

Date

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

JOINT FILER INFORMATION

Name:	SC Biotechnology Development Fund LP
Address:	One Capital Place, P.O. Box 897 GT Grand Cayman
	Cayman Islands
Designated Filer:	SC Biotechnology Development Fund LP
Issuer & Ticker Symbol:	DepoMed, Inc.
Date of Event Requiring Statement:	April 21, 2003
By: SC (GP) Inc., its General Partner
Signature:/s/Eve Wilson	/s/William Walmsley	Date: May 1, 2003
By: Eve Wilson	William Walmsley
Title: Director	Director

Name:	SC (GP) Inc.
Address:	One Capital Place, P.O. Box 897 GT Grand Cayman
	Cayman Islands
Designated Filer:	SC Biotechnology Development Fund LP
Issuer & Ticker Symbol:	DepoMed, Inc.
Date of Event Requiring Statement:	April 21, 2003
Signature:/s/Eve Wilson	/s/William Walmsley	Date: May 1, 2003
By: Eve Wilson	William Walmsley
Title: Director	Director