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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CPBfg7QxBDwIUKb4ZvVvP01UlX121M2Ml1pRre5lLhdBIrGUSKjk1JknWgLAC2NB
 rdIQIvALLpbmXNoyGGta/w==

<SEC-DOCUMENT>0001109355-07-000008.txt : 20070612
<SEC-HEADER>0001109355-07-000008.hdr.sgml : 20070612
<ACCEPTANCE-DATETIME>20070612152155
ACCESSION NUMBER:		0001109355-07-000008
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070607
FILED AS OF DATE:		20070612
DATE AS OF CHANGE:		20070612

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIPID SCIENCES INC/
		CENTRAL INDEX KEY:			0000071478
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				430433090
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		7068 KOLL CENTER PARKWAY
		STREET 2:		SUITE 401
		CITY:			PLEASANTON
		STATE:			CA
		ZIP:			94566
		BUSINESS PHONE:		925-249-4000

	MAIL ADDRESS:	
		STREET 1:		7068 KOLL CENTER PARKWAY
		STREET 2:		SUITE 401
		CITY:			PLEASANTON
		STATE:			CA
		ZIP:			94566

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NZ CORP
		DATE OF NAME CHANGE:	20000810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW MEXICO & ARIZONA LAND CO
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RENNECKAR STEPHEN E
		CENTRAL INDEX KEY:			0001402587

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-00497
		FILM NUMBER:		07914886

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		602-852-5588

	MAIL ADDRESS:	
		STREET 1:		C/O STERLING PACIFIC ASSETS
		STREET 2:		8601 N. SCOTTSDALE ROAD, SUITE 238
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85253

	FORMER NAME:	
		FORMER CONFORMED NAME:	RENNECKAR STEVEN E
		DATE OF NAME CHANGE:	20070608
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>renneckarf4-0607_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-06-07</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000071478</issuerCik>
        <issuerName>LIPID SCIENCES INC/</issuerName>
        <issuerTradingSymbol>LIPD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001402587</rptOwnerCik>
            <rptOwnerName>RENNECKAR STEPHEN E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O STERLING PACIFIC ASSETS</rptOwnerStreet1>
            <rptOwnerStreet2>8601 N. SCOTTSDALE ROAD, SUITE 238</rptOwnerStreet2>
            <rptOwnerCity>PHOENIX</rptOwnerCity>
            <rptOwnerState>AZ</rptOwnerState>
            <rptOwnerZipCode>85253</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.22</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-06-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>80000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-06-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>80000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>80000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The option vests with respect to 1/3 of the shares on each of June 7, 2007, June 7, 2008 and June 7, 2009.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/  Stephen E. Renneckar</signatureName>
        <signatureDate>2007-06-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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