SC 13G 1 dsc13g.txt SCHEDULE 13G SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) VISIBLE GENETICS INC. ---------------------------------------------------------------- (Name of Issuer) Common Stock ---------------------------------------------------------------- (Title of Class of Securities) 92829S104 ---------------------------------------------------------------- (CUSIP Number) December 31, 2001 ---------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [X] Rule 13d-1(c) [_] Rule 13d-1(d) /1/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 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). ----------------------- --------------------- CUSIP No. 83545 M 109 13G Page 2 of 9 Pages ----------------------- --------------------- -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON MPM BioEquities Adviser LLC -------------------------------------------------------------------------------- (a) [_] 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (b) [X] -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5. SOLE VOTING POWER 1,079,137 (1) NUMBER OF ------------------------------------------------ SHARES 6. SHARED VOTING POWER BENEFICIALLY None OWNED BY ------------------------------------------------ EACH 7. SOLE DISPOSITIVE POWER REPORTING 1,079,137 (1) PERSON ------------------------------------------------ WITH 8. SHARED DISPOSITIVE POWER None -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,079,137 (1) -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_] CERTAIN SHARES* -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.6% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IA -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- --------------------- CUSIP No. 92829S104 13G Page 3 of 9 Pages ----------------------- --------------------- -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON MPM BioEquities Master Fund L.P. -------------------------------------------------------------------------------- (a) [_] 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (b) [X] -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda -------------------------------------------------------------------------------- 5. SOLE VOTING POWER 1,079,137 (1) NUMBER OF ------------------------------------------------ SHARES 6. SHARED VOTING POWER BENEFICIALLY None OWNED BY ------------------------------------------------ EACH 7. SOLE DISPOSITIVE POWER REPORTING 1,079,137 (1) PERSON ------------------------------------------------ WITH 8. SHARED DISPOSITIVE POWER None -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,079,137 (1) -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_] CERTAIN SHARES* -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.6% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* PN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- --------------------- CUSIP No. 92829S104 13G Page 4 of 9 Pages ----------------------- --------------------- -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON MPM BioEquities GP L.P. -------------------------------------------------------------------------------- (a) [_] 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (b) [X] -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5. SOLE VOTING POWER 1,079,137 (1) NUMBER OF ------------------------------------------------ SHARES 6. SHARED VOTING POWER BENEFICIALLY None OWNED BY ------------------------------------------------ EACH 7. SOLE DISPOSITIVE POWER REPORTING 1,079,137 (1) PERSON ------------------------------------------------ WITH 8. SHARED DISPOSITIVE POWER None -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,079,137 (1) -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_] CERTAIN SHARES* -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.6% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* PN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- --------------------- CUSIP No. 92829S104 13G Page 5 of 9 Pages ----------------------- --------------------- -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON MPM BioEquities GP LLC -------------------------------------------------------------------------------- (a) [_] 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (b) [X] -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5. SOLE VOTING POWER 1,079,137 (1) NUMBER OF ------------------------------------------------ SHARES 6. SHARED VOTING POWER BENEFICIALLY None OWNED BY ------------------------------------------------ EACH 7. SOLE DISPOSITIVE POWER REPORTING 1,079,137 (1) PERSON ------------------------------------------------ WITH 8. SHARED DISPOSITIVE POWER None -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,079,137 (1) -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_] CERTAIN SHARES* -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.6% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* OO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- --------------------- CUSIP No. 92829S104 13G Page 6 of 9 Pages ----------------------- --------------------- -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON MPM Capital II GP LLC -------------------------------------------------------------------------------- (a) [_] 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (b) [X] -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 5. SOLE VOTING POWER 1,079,137 (1) NUMBER OF ------------------------------------------------ SHARES 6. SHARED VOTING POWER BENEFICIALLY None OWNED BY ------------------------------------------------ EACH 7. SOLE DISPOSITIVE POWER REPORTING 1,079,137 (1) PERSON ------------------------------------------------ WITH 8. SHARED DISPOSITIVE POWER None -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,079,137 (1) -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_] CERTAIN SHARES* -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.6% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* OO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! STATEMENT ON SCHEDULE 13G Item 1(a). Name of Issuer: -------------- Visible Genetics Inc. Item 1(b). Address of Issuer's Principal Executive Offices: ----------------------------------------------- 700 Bay Street, Suite 1000, Toronto ON, Canada M5G 1Z6 Item 2(a). Names of Person Filing: ---------------------- MPM BioEquities Adviser LLC MPM BioEquities Master Fund L.P. MPM BioEquities GP L.P. MPM BioEquities GP LLC MPM Capital II GP LLC Item 2(b). Business Mailing Address for the Person Filing: ---------------------------------------------- c/o MPM Capital L.P. 601 Gateway Blvd., Suite 350 South San Francisco, CA 94080 Item 2(c). Citizenship: ----------- All entities were organized in Delaware, except MPM BioEquities Master Fund L.P., which was formaed under the laws of Bermuda. Item 2(d). Title of Class of Securities: ---------------------------- Common Stock Item 2(e). CUSIP Number: ------------ 92829S104 Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b), check whether the person filing is a: MPM BioEquities Adviser LLC is an investment adviser in accordance with Rule 13d-1(b) (1) (ii) (E). Item 4. Ownership: --------- (a) Amount Beneficially Owned: 1,079,137 shares of Common Stock (1) (b) Percent of Class Owned: 5.6% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 1,079,137 shares of Common Stock (1) (ii) shared power to vote or to direct the vote: None (iii) sole power to dispose or to direct the disposition of: 1,079,137 shares of Common Stock (1) (iv) shared power to dispose or to direct the disposition of: None 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: --------------------------------------------------------------- Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares to which this statement relates. No one person's interest in such shares is more than five percent of the total outstanding stock of the Issuer. 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 (1) (1) Includes shares held through entities advised and/or managed by MPM BioEquities Adviser LLC ("MPM BioEquities Adviser") and the general partners and control person of such entities. MPM BioEquities Adviser is controlled by MPM Capital II GP LLC and is the adviser of MPM BioEquities Master Fund L.P., the direct and indirect general partners of which are MPM BioEquities GP L.P. and MPM BioEquities GP LLC. 1,079,137 of the shares are held of record by MPM BioEquities Master Fund L.P. Each reporting person herein disclaims beneficial ownership of shares not directly held by such person. 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. Dated: February 13, 2002 MPM BIOEQUITIES ADVISER LLC MPM BIOEQUITIES GP LLC By: /s/ Luke B. Evnin By: /s/ Luke B. Evnin ------------------------- ----------------------------- Name: Luke B. Evnin Name: Luke B. Evnin Title: Manager Title: Manager MPM BIOEQUITIES MASTER FUND L.P. MPM CAPITAL II GP LLC By: MPM BIOEQUITIES GP L.P., its General Partner By: /s/ Luke B. Evnin By: /s/ Luke B. Evnin ------------------------- ----------------------------- Name: Luke B. Evnin Name: Luke B. Evnin Title: Manager Title: Manager MPM BIOEQUITIES GP L.P. MPM BIOVENTURES I LP By: MPM BIOEQUITIES GP LLC, By: MPM BioVentures I LLC, its General Partner its General Partner By: /s/ Luke B. Evnin By: /s/ Luke B. Evnin ------------------------- ----------------------------- Name: Luke B. Evnin Name: Luke B. Evnin Title: Manager Title: Manager