-----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, RCLMXyr2wtn7hJNXIXDYdM9MkVlP/h3f+xbbDL2WFNJRg2JmdHIJNy4FwjCT4kHn HveSRvTOp+Xe+q1L4mvdWg== 0000950123-05-010556.txt : 20050831 0000950123-05-010556.hdr.sgml : 20050831 20050830215023 ACCESSION NUMBER: 0000950123-05-010556 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20050831 DATE AS OF CHANGE: 20050830 GROUP MEMBERS: BIOMEDICAL OFFSHORE VALUE FUND LTD. GROUP MEMBERS: BIOMEDICAL VALUE FUND LP GROUP MEMBERS: DR. JEFFREY R. JAY MD FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GREAT POINT PARTNERS LLC CENTRAL INDEX KEY: 0001281446 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 2 PICKWICK PLAZA STREET 2: STE 450 CITY: GREENWICH STATE: CT ZIP: 06830 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PANACOS PHARMACEUTICALS, INC. CENTRAL INDEX KEY: 0001040017 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 113238476 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-55237 FILM NUMBER: 051060067 BUSINESS ADDRESS: STREET 1: 134 COOLIDGE AVE CITY: WATERTOWN STATE: MA ZIP: 02472 BUSINESS PHONE: 617-926-1551 MAIL ADDRESS: STREET 1: 134 COOLIDGE AVE CITY: WATERTOWN STATE: MA ZIP: 02472 FORMER COMPANY: FORMER CONFORMED NAME: V I TECHNOLOGIES INC DATE OF NAME CHANGE: 19980209 SC 13D/A 1 y12385bsc13dza.txt AMENDMENT NO. 4 TO SC 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 4)* Panacos Pharmaceuticals, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 917920 10 0 (CUSIP Number) Dr. Jeffrey R. Jay, MD Great Point Partners, LLC 2 Pickwick Plaza, Suite 450 Greenwich, CT 06830 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 30, 2005 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ]. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Section 240.13d-7 for other parties to whom copies are to be sent. * 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 purposes 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). - --------------------- ----------- CUSIP No. 917920 10 0 Page 2 of 8 - --------------------- ----------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Great Point Partners, LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ] PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 3,972,547 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 3,972,547 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,972,547 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.42%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- - --------------------- ----------- CUSIP No. 917920 10 0 Page 3 of 8 - --------------------- ----------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Biomedical Value Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ] PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, U.S.A - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 1,819,797 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 1,819,797 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,819,797 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.45%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - --------------------- ----------- CUSIP No. 917920 10 0 Page 4 of 8 - --------------------- ----------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Biomedical Offshore Value Fund, Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ] TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 2,152,750 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 2,152,750 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,152,750 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.28%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- - --------------------- ----------- CUSIP No. 917920 10 0 Page 5 of 8 - --------------------- ----------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Dr. Jeffrey R. Jay, M.D. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS Not applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT [ ] TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 90,625 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 3,972,547 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 90,625 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 3,972,547 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,063,172 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.63%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- * The calculation of the foregoing percentages is based on 39,509,667 shares of Common Stock outstanding as of July 15, 2005, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 15, 2005. CUSIP No. 917920 10 0 Page 6 of 8 AMENDMENT NO. 4 TO STATEMENT ON SCHEDULE 13D FILED BY GREAT POINT PARTNERS, LLC. This Amendment No. 4 amends and supplements Item 5 of the Schedule 13D, dated March 11, 2005 (the "Schedule 13D") filed by Great Point Partners, LLC ("Great Point"), Biomedical Value Fund, L.P. ("BMVF"), Biomedical Offshore Value Fund, Ltd. ("BOVF") and Dr. Jeffrey R. Jay, M.D. ("Dr. Jay"), as amended by Amendment No. 1 thereto filed on July 13, 2005, Amendment No. 2 thereto filed on July 22, 2005, and Amendment No. 4 filed on August 25, 2005 with respect to the shares of common stock, par value $0.01 per share (the "Common Stock") of Panacos Pharmaceuticals, Inc. (formerly V.I. Technologies, Inc.) (the "Issuer"). Item 5 "Interest in Securities of the Issuer" of the Schedule 13D is hereby amended to add the following information: Item 5. Interest in Securities of the Issuer. (a) and (b) As a result of sales conducted on August 25, 2005 and August 30, 2005, BMVF is now the beneficial owner of 1,819,797 shares of Common Stock, consisting of 432,499 shares of Common Stock and warrants to purchase 1,387,298 shares of Common Stock. Such shares, in the aggregate, represent 4.45% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. BMVF disclaims beneficial ownership of any securities owned by BOVF or Dr. Jay. As a result of sales conducted on August 25, 2005 and August 30, 2005, BOVF is now the beneficial owner of 2,152,750 shares of Common Stock, consisting of 895,000 shares of Common Stock and warrants to purchase 1,257,750 shares of Common Stock. Such shares, in the aggregate, represent 5.28% of Common Stock outstanding, computed in accordance with Rule 13d-3. BOVF disclaims beneficial ownership of any securities owned by BMVF or Dr. Jay. Great Point is the investment manager of each of BMVF and BOVF, and by virtue of such status has shared voting and investment power with respect to securities owned and held by BMVF and BOVF and may be deemed to be the beneficial owner of such securities. Thus, as a result of the August 25, 2005 and August 30, 2005 sales described above, Great Point may now be deemed to be the beneficial owner of 3,792,547 shares of Common Stock, consisting of 1,327,499 shares of Common Stock and warrants to purchase 2,645,048 shares of Common Stock. Such shares, in the aggregate, represent 9.42% of Common Stock outstanding, computed in accordance with Rule 13d-3. Great Point disclaims beneficial ownership of any securities owned by Dr. Jay. Dr. Jay beneficially owns 90,625 shares of Common Stock, consisting of 62,500 shares of Common Stock and warrants to purchase 28,125 shares of Common Stock. In addition, Dr. Jay, as senior managing member of Great Point, has shared voting and investment power with respect to securities owned and held by BMVF and BOVF and may be deemed to be the beneficial owner of such securities. Therefore, as a result of the August 25, 2005 and August 30, 2005 sales described above, Dr. Jay may now be deemed to be the beneficial owner of 4,063,172 shares of Common CUSIP No. 917920 10 0 Page 7 of 8 Stock, consisting of an aggregate amount of 1,389,999 shares of Common Stock and warrants to purchase 2,673,173 shares of Common Stock. Such shares, in the aggregate, represent 9.63% of Common Stock outstanding, computed in accordance with Rule 13d-3. Notwithstanding the above, Great Point and Dr. Jay disclaim beneficial ownership of the shares of Common Stock held by BMVF and BOVF, except to the extent of any pecuniary interest, and this Amendment No. 4 to the Schedule 13D shall not be deemed to be an admission that they are the beneficial owners of such securities. (c) The table below sets forth information with respect to all sales of Common Stock by each of BMVF and BOVF since the filing of Amendment No. 3 thereto on August 25, 2005. Additional detail regarding such shares is included in Annex A hereto, which is incorporated by reference herein. All of such sales were executed through broker's transactions on NASDAQ. BMVF:
TRANSACTION DATE NUMBER OF SHARES AVERAGE PRICE PER SHARE - ---------------- ---------------- ----------------------- August 25, 2005 66,693 $10.2767 August 30, 2005 17,692 $ 9.5770
BOVF:
TRANSACTION DATE NUMBER OF SHARES AVERAGE PRICE PER SHARE - ---------------- ---------------- ----------------------- August 25, 2005 66,692 $10.2767 August 30, 2005 117,308 $ 9.5770
Item 7. Materials to be Filed as Exhibits Annex D: Details of sales of shares by BMVF and BOVF on August 25, 2005. Annex E: Details of sales of shares by BMVF and BOVF on August 30, 2005. Exhibit H: Joint Filing Agreement among Great Point, BMVF, BOVF and Dr. Jay, dated August 30, 2005. Except as expressly amended and supplemented hereby, the text of the Schedule 13D remains in effect without any further modification. CUSIP No. 917920 10 0 Page 8 of 8 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement with respect to the undersigned is true, complete and correct. Dated: August 30, 2005 GREAT POINT PARTNERS, LLC /s/ Dr. Jeffrey R. Jay, M.D. ---------------------------------------- By Dr. Jeffrey R. Jay, M.D., as senior managing member BIOMEDICAL VALUE FUND, L.P. /s/ Dr. Jeffrey R. Jay, M.D. ---------------------------------------- By Great Point Partners, LLC, as investment manager, By Dr. Jeffrey R. Jay as senior managing member BIOMEDICAL OFFSHORE VALUE FUND, Ltd. /s/ Dr. Jeffrey R. Jay, M.D. ---------------------------------------- By Great Point Partners, LLC, as investment manager, By Dr. Jeffrey R. Jay, M.D., as senior managing member DR. JEFFREY R. JAY, M.D. /s/ Dr. Jeffrey R. Jay, M.D. ---------------------------------------- ANNEX D Details of sale of 66,693 shares of Panacos Pharmaceuticals, Inc. by BMVF on August 25, 2005
Shares Price Per Share - ------ --------------- 366 $10.18 254 $10.19 5,144 $10.20 3,857 $10.21 5,083 $10.22 3,432 $10.23 4,550 $10.24 5,557 $10.25 2,987 $10.26 2,517 $10.27 695 $10.28 2,605 $10.29 9,790 $10.30 1,624 $10.31 1,655 $10.32 5,050 $10.33 1,820 $10.34 4,495 $10.35 4,000 $10.36 950 $10.37 262 $10.38
Details of sale of 66,692 shares of Panacos Pharmaceuticals, Inc. by BOVF on August 25, 2005
Shares Price Per Share - ------ --------------- 366 $10.18 254 $10.19 5,144 $10.20 3,858 $10.21 5,083 $10.22 3,432 $10.23 4,550 $10.24
5,557 $10.25 2,987 $10.26 2,518 $10.27 694 $10.28 2,605 $10.29 9,790 $10.30 1,621 $10.31 1,655 $10.32 5,050 $10.33 1,820 $10.34 4,495 $10.35 4,000 $10.36 950 $10.37 263 $10.38
2 ANNEX E Details of sale of 17,692 shares of Panacos Pharmaceuticals by BMVF on August 30, 2005
Shares Price Per Share 8 $9.38 5,390 $9.50 590 $9.52 995 $9.54 773 $9.55 1,791 $9.58 826 $9.60 1,189 $9.61 1,948 $9.62 512 $9.63 1,114 $9.65 1,311 $9.66 328 $9.67 655 $9.68 131 $9.72 131 $9.78
Details of sale of 117,308 shares of Panacos Pharmaceuticals by BOVF on August 30, 2005
Shares Price Per Share 50 $9.38 35,741 $9.50 3,910 $9.52 6,605 $9.54 5,127 $9.55 11,877 $9.58 5,474 $9.60 7,886 $9.61 12,919 $9.62 3,389 $9.63 7,386 $9.65 8,689 $9.66 2,172 $9.67 4,345 $9.68 869 $9.72 869 $9.78
EX-99.H 2 y12385bexv99wh.txt EX-99.H: JOINT FILING AGREEMENT Exhibit H JOINT FILING STATEMENT The undersigned hereby agree as follows: (i) Each of them is individually eligible to use the Schedule 13D to which this Exhibit is attached, and such Schedule 13D is filed on behalf of each of them; and (ii) Each of them is responsible for the timely filing of such Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. Date: August 30, 2005 GREAT POINT PARTNERS LLC Signature: /s/ Dr. Jeffrey R. Jay, M.D. ----------------------------- By Dr. Jeffrey R. Jay, M.D., as senior managing member BIOMEDICAL VALUE FUND L.P. Signature: /s/ Dr. Jeffrey R. Jay, M.D. ----------------------------- By Great Point Partners, LLC, as investment manager, By Dr. Jeffrey R. Jay, M.D., as senior managing member BIOMEDICAL OFFSHORE VALUE FUND, LTD. Signature: /s/ Dr. Jeffrey R. Jay, M.D. ----------------------------- By Great Point Partners, LLC, as investment manager, By Dr. Jeffrey R. Jay, M.D., as senior managing member DR. JEFFREY R. JAY, M.D. Signature: /s/ Dr. Jeffrey R. Jay, M.D. ----------------------------- -----END PRIVACY-ENHANCED MESSAGE-----