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* SANDERLING V LTD PARTNERSHIP (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol FAVRILLE INC [ FVRL ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 02/07/2005
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X 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	02/07/2005		C		2,020,521	A	$0	2,039,795	D(1)
Common Stock	02/07/2005		P		1,142,857	A	$7	3,182,652	D(1)

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
Series B Convertible Preferred Stock	(2)	02/07/2005		C			790,042	(3)	(4)	Common Stock	790,042	$0(5)	0	D(6)
Series B-2 Convertible Preferred Stock	(2)	02/07/2005		C			319,756	(3)	(4)	Common Stock	319,756	$0(5)	0	D(8)
Series C Convertible Preferred Stock	(7)	02/07/2005		C			838,132	(3)	(4)	Common Stock	910,723	$0(5)	0	D(9)

1. Name and Address of Reporting Person* SANDERLING V LTD PARTNERSHIP (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SANDERLING V BETEILIGUNGS GMBH & CO KG (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint Filer

1. Name and Address of Reporting Person* Sanderling Venture Partners V, LP (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint Filer

1. Name and Address of Reporting Person* SANDERLING V BIOMEDICAL LP (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint Filer

1. Name and Address of Reporting Person* SANDERLING VENTURES MANAGEMENT V (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint Filer

1. Name and Address of Reporting Person* Sanderling Venture Partners V Co Investment Fund, LP (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint Filer

1. Name and Address of Reporting Person* SANDERLING V BIOMEDICAL CO INVESTMENT FUND LP (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint Filer

1. Name and Address of Reporting Person* Sanderling Venture Partners VI Co Investment Fund LP (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint Filer

1. Name and Address of Reporting Person* Middleton, McNeil & Mills Associates V, LLC (Last) (First) (Middle) 400 SOUTH EL CAMINO REAL, SUITE 1200 (Street) SAN MATEO, CA 94402 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint Filer

Explanation of Responses:

1. The shares are held as follows: 209,587 shares by Sanderling V Limited Partnership ("SV LP"), 186,491 shares by Sanderling V Beteiligungs, GmbH & Co. KG ("Beteiligungs"), 980,216 shares by Sanderling Venture Partners V, L.P. ("SVPV"), 240,099 shares by Sanderling V Biomedical, L.P. ("Biomedical"), 37,414 shares by Sanderling V Ventures Management ("SVVM"), 687,657 shares by Sanderling Venture Partners V Co-Investment Fund, L.P. ("Venture Co-Investment"), 416,902 shares by Sanderling V Biomedical Co-Investment Fund, L.P. ("Biomedical Co-Investment") and 424,286 shares by Sanderling Venture Partners VI Co-Investment Fund, L.P. ("Ventures VI"). Middleton, McNeil & Mills Associates V, LLC ("MMM") is the general partner of SVLP, Beteiligungs, SVPV, Biomedical, Venture Co-Investment, Biomedical Co-Investment and Ventures VI.

2. 1-for-1

3. Immediate

4. Not applicable.

5. Price does not apply.

6. The shares are held as follows: 54,119 shares by SV LP, 48,155 shares by Beteiligungs, 546,102 shares by SVPV, 133,766 shares by Biomedical and 7,900 shares by SVVM.

7. 1.086614-for-1

8. The shares are held as follows: 21,904 shares by SVLP, 19,490 shares by Beteiligungs, 221,026 shares by SVPV, 54,139 shares by Biomedical and 3,197 shares by SVVM.

9. The shares are held as follows: 68,604 shares by SV LP, 61,044 shares by Beteiligungs, 96,557 shares by SVPV, 23,651 shares by Biomedical, 8,381 shares by SVVM, 361,021 shares by Venture Co-Investment, and 218,874 shares by Biomedical Co-Investment.

Remarks:

All Reporting Persons disclaim beneficial ownership of shares of Favrille, Inc. stock held by the other Reporting Persons herein, except to the extent of their respective pecuniary interest therein, if any. The filing of this statement shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, or otherwise, any of the Reporting Persons are the beneficial owners of all of the equity securities covered by this statement.

	/s/ Fred A. Middleton	02/07/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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