-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OY743+HkXEsNWtA6ogfv1HlnnPGTawQjo4OqjbhINsdNSukk4FGl8+K8nGKkqccW UsZtbQdpfppDaVU6w9be3Q== 0000898432-09-000194.txt : 20090213 0000898432-09-000194.hdr.sgml : 20090213 20090213163454 ACCESSION NUMBER: 0000898432-09-000194 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20090213 DATE AS OF CHANGE: 20090213 GROUP MEMBERS: BIOTECHNOLOGY VALUE FUND II, L.P. GROUP MEMBERS: BVF INC. GROUP MEMBERS: BVF INVESTMENTS, L.L.C. GROUP MEMBERS: BVF PARTNERS L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CYPRESS BIOSCIENCE INC CENTRAL INDEX KEY: 0000716054 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 222389839 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-35589 FILM NUMBER: 09604206 BUSINESS ADDRESS: STREET 1: 4350 EXECUTIVE DRIVE,SUITE 325 CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 8584522323 MAIL ADDRESS: STREET 1: 4350 EXECUTIVE DRIVE,SUITE 325 CITY: SAN DIEGO STATE: CA ZIP: 92121 FORMER COMPANY: FORMER CONFORMED NAME: IMRE CORP DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BIOTECHNOLOGY VALUE FUND L P CENTRAL INDEX KEY: 0000918923 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 363924731 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 900 N. MICHIGAN AVENUE, SUITE 1100 CITY: CHICAGO STATE: IL ZIP: 60611 BUSINESS PHONE: 3125066500 MAIL ADDRESS: STREET 1: 900 N. MICHIGAN AVENUE, SUITE 1100 CITY: CHICAGO STATE: IL ZIP: 60611 SC 13G/A 1 sc13g.htm

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
 

(Amendment No. 2)*
 

CYPRESS BIOSCIENCES, INC.

(Name of Issuer)
 

Common Stock

(Title of Class of Securities)

 

232674507

(CUSIP Number)

 

December 31, 2008

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

 

o Rule 13d-1(b)
xRule 13d-1(c)
o Rule 13d-1(d)

*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 the disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 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).

CUSIP No. 232674507

 

13G

 

Page 2 of 10 Pages
 

 

 

 

  
 

1

 

NAME OF REPORTING PERSON:
Biotechnology Value Fund, L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):

 

 
 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 

(a)x 

 

 

 

 

(b)  o

 

 

 

 

 
 

3

 

SEC USE ONLY

 

 

 

 

 

 

 
 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

Delaware

 

 
 

 

 

5

 

SOLE VOTING POWER

NUMBER OF

 

 

 

0

SHARES

 

  

BENEFICIALLY

 

6

 

SHARED VOTING POWER

OWNED

 

 

  

2,252

BY

 

  

EACH

 

7

 

SOLE DISPOSITIVE POWER

REPORTING

 

 

 

0

PERSON

 

  

WITH:

 

8

 

SHARED DISPOSITIVE POWER

 

 

 

 

2,252
 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

 

 

2,252

 

 
 

10

 

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

o

 

 

 

 

 
 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

 

 

 

0.01%

 

 
 

12

 

TYPE OF REPORTING PERSON*

 

 
 

 

PN

    

 

 

 

 

  

CUSIP No. 232674507

 

13G

 

Page 3 of 10 Pages
 

1

 

NAME OF REPORTING PERSON:
Biotechnology Value Fund II, L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):

 

 
 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 

(a) x

 

 

 

 

(b)  o

 

 

 

 

 
 

3

 

SEC USE ONLY

 

 

 

 

 

 

 
 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

 

 

Delaware

 

 
 
 

 

 

5

 

SOLE VOTING POWER

NUMBER OF

 

 

 

0

SHARES

 

  

BENEFICIALLY

 

6

 

SHARED VOTING POWER

OWNED

 

 

 

0

BY

 

  

EACH

 

7

 

SOLE DISPOSITIVE POWER

REPORTING

 

 

 

0

PERSON

 

  

WITH:

 

8

 

SHARED DISPOSITIVE POWER

 

 

 

 

0
 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

 

 

0

 

 
 

10

 

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

o

 

 

 

 

 

     

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

 

 

 

0%

 

 
 

12

 

TYPE OF REPORTING PERSON*

 

 
 

 

PN

    

 

 

 

 

  

CUSIP No. 232674507

 

13G

 

Page 4 of 10 Pages
 

1

 

NAME OF REPORTING PERSON:
BVF Investments, L.L.C.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):

 

 
 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 

(a) x

 

 

 

 

(b)  o

 

 

 

 

 
 

3

 

SEC USE ONLY

 

 

 

 

 

 

 
 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

 

 

Delaware

 

 
 

 

 

5

 

SOLE VOTING POWER

NUMBER OF

 

 

 

0

SHARES

 

  

BENEFICIALLY

 

6

 

SHARED VOTING POWER

OWNED

 

 

 

61,300

BY

 

  

EACH

 

7

 

SOLE DISPOSITIVE POWER

REPORTING

 

 

 

0

PERSON

 

  

WITH:

 

8

 

SHARED DISPOSITIVE POWER

 

 

 

 

61,300
 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

 

 

61,300

 

 
 

10

 

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

o

 

 

 

 

 
 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

 

 

 

0.16%

 

 
 

12

 

TYPE OF REPORTING PERSON*

 

 

 

 

OO

 

 
 

 

 

 

 

  

CUSIP No. 232674507

 

13G

 

Page 5 of 10 Pages
 

1

 

NAME OF REPORTING PERSON:
Investment 10, L.L.C.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):

 

 
 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 

(a) x

 

 

 

 

(b)  o

 

 

 

 

 
 

3

 

SEC USE ONLY

 

 

 

 

 

 

 
 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

 

 

Illinois

 

 
 

 

 

5

 

SOLE VOTING POWER

NUMBER OF

 

 

 

0

SHARES

 

  

BENEFICIALLY

 

6

 

SHARED VOTING POWER

OWNED

 

 

 

12,700

BY

 

  

EACH

 

7

 

SOLE DISPOSITIVE POWER

REPORTING

 

 

 

0

PERSON

 

  

WITH:

 

8

 

SHARED DISPOSITIVE POWER

 

 

 

 

12,700
 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

 

 

12,700

 

 
 

10

 

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

o

 

 

 

 

 
 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

 

 

 

0.03%

 

 
 

12

 

TYPE OF REPORTING PERSON*

 

 

 

 

OO

 

 
 

 

 

 

 

  

CUSIP No. 232674507

 

13G

 

Page 6 of 10 Pages
 

1

 

NAME OF REPORTING PERSON:
BVF Partners L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):

 

 
 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 

(a) x

 

 

 

 

(b)  o

 

 

 

 

 
 

3

 

SEC USE ONLY

 

 

 

 

 

 

 
 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

 

 

Delaware

 

 
 

 

 

5

 

SOLE VOTING POWER

NUMBER OF

 

 

 

0

SHARES

 

  

BENEFICIALLY

 

6

 

SHARED VOTING POWER

OWNED

 

 

 

76,252

BY

 

  

EACH

 

7

 

SOLE DISPOSITIVE POWER

REPORTING

 

 

 

0

PERSON

 

  

WITH:

 

8

 

SHARED DISPOSITIVE POWER

 

 

 

 

76,252
 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

 

 

76,252

 

 
 

10

 

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

o

 

 

 

 

 
 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

 

 

 

0.20%

 

 
 

12

 

TYPE OF REPORTING PERSON*

 

 

 

 

PN

 

 
 

CUSIP No. 232674507

 

13G

 

Page 7 of 10 Pages
         
 

1

 

NAME OF REPORTING PERSON:
BVF Inc.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):

 

 
 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 

(a) x

 

 

 

 

(b)  o

 

 

 

 

 
 

3

 

SEC USE ONLY

 

 

 

 

 

 

 
 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

 

 

 

Delaware

 

 
 

 

 

5

 

SOLE VOTING POWER

NUMBER OF

 

 

 

0

SHARES

 

  

BENEFICIALLY

 

6

 

SHARED VOTING POWER

OWNED

 

 

 

76,252

BY

 

  

EACH

 

7

 

SOLE DISPOSITIVE POWER

REPORTING

 

 

 

0

PERSON

 

  

WITH:

 

8

 

SHARED DISPOSITIVE POWER

 

 

 

 

76,252
 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

 

 

76,252

 

 
 

10

 

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

o

 

 

 

 

 
 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

 

 

 

0.20%

 

 
 

12

 

TYPE OF REPORTING PERSON*

 

 

 

 

IA, CO

 

 
 

 

 

 

 

  

CUSIP No. 232674507

 

13G

 

Page 8 of 10 Pages


ITEM 1(a).     NAME OF ISSUER:

Cypress Biosciences, Inc. (“CYPB”)

ITEM 1(b).     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

4350 Executive Drive
Suite 325
San Diego, CA 92121

ITEM 2(a).     NAME OF PERSON FILING:

This Amendment No. 2 to Schedule 13G is being filed on behalf of the following persons (the "Reporting Persons"):

 

(i)

 

Biotechnology Value Fund, L.P. ("BVF")

 

(ii)

 

Biotechnology Value Fund II, L.P. ("BVF2")

 

(iii)

 

BVF Investments, L.L.C. ("Investments")

 

(iv)

 

Investment 10, L.L.C. ("ILL10")

 

(v)

 

BVF Partners L.P. ("Partners")

 

(vi)

 

BVF Inc. ("BVF Inc.")


ITEM 2(b).     ADDRESS OF PRINCIPAL BUSINESS OFFICE:

The principal business office of the Reporting Persons comprising the group filing this Amendment No. 2 to Schedule 13G is located at 900 North Michigan Avenue, Suite 1100, Chicago, Illinois, 60611.

ITEM 2(c).     CITIZENSHIP:

 

 

BVF:

a Delaware limited partnership

 

 

BVF2:

a Delaware limited partnership

 

 

Investments:

a Delaware limited liability company

 

 

ILL10:

an Illinois limited liability company

 

 

Partners:

a Delaware limited partnership

 

 

BVF Inc.:

a Delaware corporation


ITEM 2(d).     TITLE OF CLASS OF SECURITIES:

This Amendment No. 2 to Schedule 13G is being filed with respect to the common stock, par value $0.001 per share ("Common Stock"), of CYPB. The Reporting Persons' percentage ownership of Common Stock is based on 37,883,074 shares of Common Stock being outstanding.

As of December 31, 2008, BVF beneficially owned 2,252 shares of Common Stock, BVF2 beneficially owned 0 shares of Common Stock, Investments beneficially owned 61,300 shares of Common Stock and ILL10 beneficially owned 12,700 shares of Common Stock. Beneficial ownership by Partners and BVF Inc. includes 76,252 shares of Common Stock.

 

 

 

 

 

  

CUSIP No. 232674507

 

13G

 

Page 9 of 10 Pages

ITEM 2(e).     CUSIP Number:          232674507

ITEM 3.     IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS:    One of the following

Not applicable as this Amendment No. 2 to Schedule 13G is filed pursuant to Rule 13d-1(c).

ITEM 4.     OWNERSHIP:

The information in items 1 and 5 through 11 on the cover pages (pp. 2 - 7) on this Amendment No. 2 to Schedule 13G is hereby incorporated by reference.

ITEM 5.     OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:

If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities check the following.  [ X ].

ITEM 6.     OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

Pursuant to the operating agreement of Investments, Partners is authorized, among other things, to invest the funds of Samana Capital, L.P., the majority member of Investments, in shares of the Common Stock beneficially owned by Investments and to vote and exercise dispositive power over those shares of the Common Stock. Partners and BVF Inc. share voting and dispositive power over shares of the Common Stock beneficially owned by BVF, BVF2, Investments and those owned by ILL10, on whose behalf Partners acts as an investment manager and, accordingly, Partners and BVF Inc. have beneficial ownership of all of the shares of the Common Stock owned by such parties.

ITEM 7.     IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:

Mr. Lampert is the owner, sole director and an officer of BVF Inc. BVF Inc. is the general partner of Partners, which is the general partner of BVF and BVF 2. Partners is the manager of BVLLC and is investment adviser to ILL10.

ITEM 8.     IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP:

The members of the group making this filing on Amendment No. 2 to Schedule 13G are: Biotechnology Value Fund, L.P., Biotechnology Value Fund II, L.P., BVF Investments, L.L.C., Investment 10, L.L.C., BVF Partners L.P. and BVF Inc.

ITEM 9.     NOTICE OF DISSOLUTION OF GROUP:

Not applicable.

 

 

 

 

  

CUSIP No. 232674507

 

13G

 

Page 10 of 10 Pages


ITEM 10.     CERTIFICATION

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

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: February 13, 2009

BIOTECHNOLOGY VALUE FUND, L.P.*

By: BVF Partners, L.P., its general partner

     By: BVF Inc., its general partner
 
     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President
 

BIOTECHNOLOGY VALUE FUND II, L.P.*

By: BVF Partners, L.P., its general partner

     By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President
 

BVF INVESTMENTS, L.L.C.*
 

By: BVF Partners, L.P., its manager

     By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President

INVESTMENT 10, L.L.C.*

By: BVF Partners, L.P., its investment manager
 
     By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President

BVP PARTNERS L.P.*

By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President
 

BVF INC.*

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President
 
 
 

*The Reporting Person disclaims beneficial ownership except to the extent of its pecuniary interest therein.

Exhibit A
JOINT FILING AGREEMENT
 

The undersigned agree that this Amendment No. 2 to Schedule 13G, dated December 31, 2008, relating to the Common Stock of CYPB shall be filed on behalf of the undersigned.

Dated: February 13, 2009

BIOTECHNOLOGY VALUE FUND, L.P.

By: BVF Partners, L.P., its general partner

     By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President

BIOTECHNOLOGY VALUE FUND II, L.P.

By: BVF Partners, L.P., its general partner

     By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President

BVF INVESTMENTS, L.L.C.

By: BVF Partners, L.P., its manager

     By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President

INVESTMENT 10, L.L.C.

By: BVF Partners, L.P., its investment manager

     By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President

BVF PARTNERS L.P.

By: BVF Inc., its general partner

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President
 

BVF INC.

     By: /s/ Mark N. Lampert_________

     Mark N. Lampert, President

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