SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13D/A

                   UNDER THE SECURITIES EXCHANGE ACT OF 1934

                               (Amendment No. 33)*

NAME OF ISSUER:  Cortech, Inc.

TITLE OF CLASS OF SECURITIES:   Common Stock

CUSIP NUMBER:  22051J308000

NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO
RECEIVE NOTICES AND COMMUNICATIONS:

     Natalie I. Koether, Esq., Rosenman & Colin LLP
     211 Pennbrook Road, P. O. Box 97
     Far Hills, New Jersey 07931                 (908) 766-4101

DATE OF EVENT WHICH REQUIRES FILING:    August 9, 2000


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 Rule 13d-1 (b)(3) or (4), check the following: ________

     Check the  following if a fee is being paid with the  statement:  (A fee is
not required only if the reporting person:  (1) has a previous statement on file
reporting  beneficial  ownership  of more  than  five  percent  of the  class of
securities  described  in Item 1;  and (2) has  filed  no  amendment  subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)

     Note: Six copies of this statement, including all exhibits, should be filed
with the  Commission.  See Rule 13d-1(a) 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 shall not be deemed to
be "filed" for the purpose 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).

                         (Continued on following pages)






CUSIP NO.:   22051J308000


1.       NAME OF REPORTING PERSON:   Asset Value Fund Limited Partnership

2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
         (a)      (b) XX

3.       [SEC USE ONLY]

4.       SOURCE OF FUNDS:  WC

5.       CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
         PURSUANT TO ITEMS 2(d) OR 2(e):   YES          NO   XX

6.       CITIZENSHIP OR PLACE OF ORGANIZATION:   New Jersey

7.       SOLE VOTING POWER:  710,700

8.       SHARED VOTING POWER:

9.       SOLE DISPOSITIVE POWER: 710,700

10.      SHARED DISPOSITIVE POWER:

11.      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
         PERSON: 710,700

12.      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
         CERTAIN SHARES:   YES        NO  XX

13.      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 38.37%

14.      TYPE OF REPORTING PERSON:   PN






Item 1.  SECURITY AND ISSUER

     This Amendment No. 33 relates to the Schedule 13D filed on October 15, 1997
in connection with the ownership by Asset Value Fund Limited Partnership ("Asset
Value")  of shares of common  stock,  par value  $.002 per share  ("Shares")  of
Cortech,  Inc.,  a  Delaware  corporation  (the  "Company"  or  "Cortech").  The
capitalized terms used in this Amendment,  unless otherwise defined,  shall have
the same meaning as in the original Schedule 13D.


Item 3.  SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

     Since the date of the last filing,  Asset Value has acquired  18,700 shares
at  an  aggregate  purchase  price  of  $122,992.75,   including  any  brokerage
commissions. Asset Value purchased the Shares with its cash reserves.


Item 5.  INTEREST  IN  SECURITIES  OF THE ISSUER.

     (a) As of the close of  business  on August 9, 2000,  Asset  Value owned an
aggregate of 710,700 shares or approximately 38.37%

     Percentage ownership is based upon the total Shares reported as outstanding
in the Company's Form 10-QSB for the quarter ended June 30, 2000.


Item 7.  MATERIAL TO BE FILED AS EXHIBITS.

    Exhibit C -  Transactions in Shares for the past 60 days not previously
                 reported



                                   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: August 11, 2000


                                        ASSET VALUE FUND LIMITED PARTNERSHIP

                                        By: Asset Value Management, Inc.
                                        General Partner


                                        By:  John W. Galuchie, Jr.
                                        --------------------------------
                                        John W. Galuchie, Jr.
                                        Treasurer and Secretary





                                    EXHIBIT C

       Transactions in Shares for the Past 60 Days Not Previously Reported

Shares purchased by Asset Value:

                               NUMBER OF                        PRICE
  DATE                      SHARES PURCHASED                  PER SHARE*
- --------                --------------------------         ------------------

07/17/00                         4,400                           7.125
07/21/00                         3,500                           7.0625
08/09/00                         1,600                           7.375



*   Exclusive of brokerage commissions.