-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OgauYqlx9Jap1a1BlkaBL97skhFH503VDR7+CY+D/tTZdjGWlW6b4eJbgx7w0UcV
 lW6gla4Kpv4ZQGSSz2Thvw==

<SEC-DOCUMENT>0000898077-04-000002.txt : 20040108
<SEC-HEADER>0000898077-04-000002.hdr.sgml : 20040108
<ACCEPTANCE-DATETIME>20040108164035
ACCESSION NUMBER:		0000898077-04-000002
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040106
FILED AS OF DATE:		20040108

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CORTECH INC
		CENTRAL INDEX KEY:			0000728478
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				840894091
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		376 MAIN STREET
		CITY:			BEDMINSTER
		STATE:			NJ
		ZIP:			07921
		BUSINESS PHONE:		9082341881

	MAIL ADDRESS:	
		STREET 1:		376 MAIN STREET
		STREET 2:		P.O. BOX 74
		CITY:			BEDMINSTER
		STATE:			NJ
		ZIP:			07921

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ASSET VALUE FUND LIMITED PARTNERSHIP
		CENTRAL INDEX KEY:			0000898077
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20726
		FILM NUMBER:		04515806

	BUSINESS ADDRESS:	
		STREET 1:		376 MAIN STREET
		STREET 2:		PO BOX 74
		CITY:			BEDMINISTER
		STATE:			NJ
		ZIP:			07921
		BUSINESS PHONE:		9082340300

	MAIL ADDRESS:	
		STREET 1:		PO BOX 74
		CITY:			BEDMINISTER
		STATE:			NJ
		ZIP:			07921
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>crtqavf010604_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2004-01-06</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000728478</issuerCik>
        <issuerName>CORTECH INC</issuerName>
        <issuerTradingSymbol>CRTQ</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000898077</rptOwnerCik>
            <rptOwnerName>ASSET VALUE FUND LIMITED PARTNERSHIP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>376 MAIN STREET</rptOwnerStreet1>
            <rptOwnerStreet2>PO BOX 74</rptOwnerStreet2>
            <rptOwnerCity>BEDMINISTER</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07921</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>1</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2004-01-06</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>P</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>3000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>2.80</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1663672</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2004-01-07</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>P</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>1200</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>2.75</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1664872</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
   <ownerSignature>
      <signatureName>Paul O. Koether</signatureName>
      <signatureDate>2004-01-08</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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