-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DM2Su3dDQmF9ARoZ1ehZenTsnmFeq5eH5erbf6s/vivDdA/908ri+lZoyG2rTUcm
 vvAMWOhhygKqDHvH8Oxh+w==

<SEC-DOCUMENT>0000898077-04-000047.txt : 20040520
<SEC-HEADER>0000898077-04-000047.hdr.sgml : 20040520
<ACCEPTANCE-DATETIME>20040520160407
ACCESSION NUMBER:		0000898077-04-000047
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040517
FILED AS OF DATE:		20040520

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:		04821506

	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>crtqavf052004_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-05-17</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>2004-05-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>16</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.08</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1714569</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-05-19</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.13</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1719069</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>Paul O. Koether</signatureName>
        <signatureDate>2004-05-20</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----