0000927016-01-503485.txt : 20011112 0000927016-01-503485.hdr.sgml : 20011112 ACCESSION NUMBER: 0000927016-01-503485 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20011105 GROUP MEMBERS: KATE BINGHAM GROUP MEMBERS: RICHARD COLWELL GROUP MEMBERS: SCHROEDER INVESTMENT MANAGEMENT LIMITED GROUP MEMBERS: TOM DANIEL FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL BIOTECHNOLOGY TRUST PLC CENTRAL INDEX KEY: 0000942257 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: FIVE ARROWS HOUSE STREET 2: ST SWITHINS LN CITY: LONDON EC4N 8NR MAIL ADDRESS: STREET 1: FIVE ARROWS HOUSE STREET 2: ST SWITHINS LN CITY: LONDON EC4N 8NR SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ESSENTIAL THERAPEUTICS INC CENTRAL INDEX KEY: 0001010915 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 943186021 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-47911 FILM NUMBER: 1775226 BUSINESS ADDRESS: STREET 1: 850 MAUDE AVE CITY: MOUNTAIN VIEW STATE: CA ZIP: 94043 BUSINESS PHONE: 4154281550 MAIL ADDRESS: STREET 1: 850 MAUDE AVE CITY: MOUNTAIN VIEW STATE: CA ZIP: 94043 FORMER COMPANY: FORMER CONFORMED NAME: MICROCIDE PHARMACEUTICALS INC DATE OF NAME CHANGE: 19960319 SC 13D 1 dsc13d.txt SCHEDULE 13D ----------------------------- OMB APPROVAL ----------------------------- OMB Number: 3235-0145 Expires: October 31, 2002 Estimated average burden hours per form ....... 14.90 ----------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. ____)* Essential Therapeutics, Inc. (formly known as Microcide Pharmaceutials, Inc.) -------------------------------------------------------------------------------- (Name of Issuer) Common Stock $.001 par value -------------------------------------------------------------------------------- (Title of Class of Securities) 29669A-20-7 -------------------------------------------------------------------------------- (CUSIP Number) Stephen Cunningham David W. Tegeler, Esq. Schroder Investment Management Limited Testa, Hurwitz & Thibeault, LLP 31 Gresham Street 125 High Street London, EC2V 7QA, England Boston, MA 02110 +44 (0) 20 7658-6000 (617) 248-7000 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 24, 2001 -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) 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 (S)(S)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [_] Note: Schedules filed in paper format shall include a signed original and five copes of the schedule, including all exhibits. See(S)240.13d-7 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 page 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). Page 1 of 10 pages SCHEDULE 13D --------------------------- ----------------------------- CUSIP NO. 29669A-20-7 Page 2 of 10 Pages --------------- --- --- --------------------------- ----------------------------- ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). International Biotechnology Trust plc ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 WC ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 Not Applicable ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 United Kingdom ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF -0- SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 OWNED BY 2,500,000 shares of common stock, $.001 par value per share ("Common Stock") ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING -0- PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,500,000 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,500,000 shares of Common Stock ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (SEE INSTRUCTIONS) [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 13% ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 CO ------------------------------------------------------------------------------ SCHEDULE 13D --------------------------- ----------------------------- CUSIP NO. 29669A-20-7 Page 3 of 10 Pages --------------- --- --- --------------------------- ----------------------------- ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Schroder Investment Management Limited ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 AF ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 United Kingdom ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF -0- SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 OWNED BY 2,500,000 shares of common stock ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING -0- PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,500,000 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,500,000 shares of Common Stock ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (SEE INSTRUCTIONS) [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 13% ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 CO ------------------------------------------------------------------------------ SCHEDULE 13D --------------------------- ----------------------------- CUSIP NO. 29669A-20-7 Page 4 of 10 Pages --------------- --- --- --------------------------- ----------------------------- ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Tom Daniel ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 AF ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 United Kingdom ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF -0- SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 OWNED BY 2,500,000 shares of common stock ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING -0- PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 -0- ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,500,000 shares of Common Stock ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (SEE INSTRUCTIONS) [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 13% ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 IN ------------------------------------------------------------------------------ SCHEDULE 13D --------------------------- ----------------------------- CUSIP NO. 29669A-20-7 Page 5 of 10 Pages --------------- --- --- --------------------------- ----------------------------- ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Kate Bingham ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 AF ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 United Kingdom ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF -0- SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 OWNED BY 2,500,000 shares of common stock ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING -0- PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 -0- ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,500,000 shares of Common Stock ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (SEE INSTRUCTIONS) [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 13% ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 IN ------------------------------------------------------------------------------ SCHEDULE 13D --------------------------- ----------------------------- CUSIP NO. 29669A-20-7 Page 6 of 10 Pages --------------- --- --- --------------------------- ----------------------------- ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Richard Colwell ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 AF ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 United Kingdom ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF -0- SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 OWNED BY 2,500,000 shares of common stock ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING -0- PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 -0- ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,500,000 shares of Common Stock ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (SEE INSTRUCTIONS) [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 13% ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 IN ------------------------------------------------------------------------------ Item 1. Security and Issuer: This statement relates to the Common Stock, $.001 par value per share of Essential Therapeutics, Inc. formerly known as Microcide Pharmaceuticals, Inc., a Delaware corporation (the "Issuer"). The address of the Issuer's principal executive officers is 1365 Main Street, Waltham, MA 02451. Item 2. Identity and Background: (a) This statement is being filed by the following Reporting Persons: International Biotechnology Trust plc ("IBT"), Schroder Investment Management Limited ("SIML"), Tom Daniel ("Daniel"), Kate Bingham ("Bingham") and Richard Colwell ("Colwell," and collectively with IBT, SIML, Daniel and Bingham, the "Reporting Persons"). (b) The principal business office of the Reporting Persons is 31 Gresham Street, London, EC2V 7QA, England. (c) The jurisdiction of organization for IBT and SIML is the United Kingdom. Daniel, Bingham and Colwell are citizens of the United Kingdom. (d) The principal business of IBT is that of a publicly-traded investment trust company. The principal business of SIML is that of an investment manager. The principal occupation of Daniel, Bingham and Colwell are their activities on behalf of SIML and IBT. (e) During the five years prior to the date hereof, none of the Reporting Persons have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (f) During the five years prior to the date hereof, none of the Reporting Persons were a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of or prohibiting or mandating activity subject to Federal or state securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration: On October 24, 2001, IBT acquired 7,500 shares of Series B Convertible Redeemable Preferred Stock, $.001 par value per share, (the "Preferred Stock") of the Issuer for a total purchase price of $7,500,000. The Reporting Persons have the right, at the Reporting Persons' option, at any time, to convert the shares of Preferred Stock into shares of common stock, $.001 par value, ("Common Stock") of the Issuer. The shares of Preferred Stock shall convert into shares of Common Stock at a rate of $3.00 per share for an aggregate of 2,500,000 shares of Common Stock of the Issuer. The Issuer has an obligation to file with the Securities and Exchange Commission a registration statement on Form S-3 under the Securities Act of 1933, as amended, covering the Common Stock issued or issuable upon conversion of the shares of Preferred Stock within 30 days of October 24, 2001. The working capital or funds available for investment of IBT were the source of funds for this purchase. No part of the purchase price was or will be represented by funds or other consideration borrowed or otherwise obtained for the purpose of acquiring, holding, trading or voting securities. Item 4. Purpose of Transaction: IBT acquired the Issuer's securities for investment purposes. Depending on market conditions, IBT's or SIML's continuing evaluation of the business and prospects of the Issuer and other factors, IBT may dispose of or acquire additional securities of the Issuer. As of October 24, 2001, Bingham has joined the Board of Directors of the Issuer. Except as described herein, none of the Reporting Persons has any present plans or proposals which relate to or would result in: Page 7 of 10 pages 7 (a) The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) Any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) Any material change in the present capitalization or dividend policy of the Issuer; (f) Any other material change in the Issuer's business or corporate structure; (g) Changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or (j) Any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer: (a) As of October 24, 2001, IBT was the record owner of 7,500 shares of Series B Convertible Redeemable Preferred Stock, $.001 par value per share, which is convertible into 2,500,000 shares of Common Stock of the Issuer within 60 days of the date of this statement. On an as converted basis, IBT owns 2,500,000 shares of Common Stock (the "Record Shares"), or approximately 13% of the Common Stock of the Issuer, which percentage is calculated based upon 16,707,348 shares of Common Stock known to be outstanding by the Issuer as of a recent date plus 2,500,000 shares of Common Stock - - the number of shares of common stock the Reporting Persons have the right to acquire within 60 days of October 24, 2001. By virtue of the contractual relationship between IBT and SIML and the affiliate relationships among SIML, Daniel, Bingham and Colwell, each of SIML, Daniel, Bingham and Colwell may be deemed to own beneficially all of the Record Shares. Hence, SIML, Daniel, Bingham and Colwell may be deemed to own 2,500,000 shares of Common Stock of the Issuer. In its capacity as discretionary investment manager of IBT, SIML may be deemed to own beneficially 2,500,000 shares of Common Stock. In their capacity as members of the investment committee of Schroder Ventures Life Sciences Advisers (UK) Limited ("SVLSAL") which advises SIML, Daniel and Bingham may be deemed to own beneficially 2,500,000 shares of Common Stock. In his capacity as fund manager of IBT, Colwell may be deemed to own beneficially 2,500,000 shares of Common Stock. Each of the Reporting Persons expressly disclaims beneficial ownership of any shares of Common Stock of the Issuer, except in the case of IBT for the 2,500,000 shares which it holds of record. (b) Number of Shares as to which each such person has (i) Sole power to vote or direct the vote: 0 shares for each Reporting Person. Page 8 of 10 pages 8 (ii) Shared power to vote or direct the vote: 2,500,000 shares for each Reporting Person (iii) Sole power to dispose or to direct the disposition: 0 shares for each Reporting Person. (iv) Shared power to dispose or to direct the disposition: IBT: 2,500,000 shares SIML: 2,500,000 shares Richard Colwell: 2,500,000 shares (c) Except as set forth above, none of the Reporting Persons has effected any transaction in the Common Stock during the last 60 days. (d) Except as described in Item 6 below, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, shares beneficially owned by any of the Reporting Persons. (e) Not Applicable. Item 6. Contracts, arrangements, Understandings or Relationships With Respect to Securities of the Issuer Pursuant to a contractual agreement dated as of November 7, 2000, IBT has engaged SIML to act as its discretionary investment manager. Pursuant to such agreement, SIML manages the business and assets of IBT, which includes the authority to make decisions regarding the acquisition or disposition of portfolio securities by IBT and to exercise any rights (including voting rights) with respect to such securities. IBT has the right to terminate SIML's appointment as manager at any time if SIML commits a material breach of its obligations under the agreement and, if its breach is capable of remedy, fails to make good the breach within 90 days of receipt of notice from IBT requiring it to do so. Daniel and Bingham, in their capacity as members of the investment committee of SVLSAL which advises SIML, have the ability to direct the vote with respect to the portfolio securities held by IBT. Colwell, in his capacity as fund manager of IBT, has the ability to direct the vote with respect to the portfolio securities held by IBT and to make investment decisions regarding the acquisition or disposition of portfolio securities by IBT. IBT has entered into a lock-up agreement for a period of 270 days after October 24, 2001 with regard to one half of all shares of the common stock of the Issuer issuable upon conversion of the shares of Preferred Stock. In addition, IBT has entered into a voting agreement whereby IBT has agreed to provide the Company with a limited irrevocable proxy for the future voting of its shares. Item 7. Material to be Filed as Exhibits: Exhibit 1 - Form of Voting Agreement Exhibit 2 - Form of Lock-Up Agreement Exhibit 3 - Agreement regarding filing of joint Schedule 13D Exhibit 4 - Power of Attorney Page 9 of 10 pages 9 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: November 5, 2001 INTERNATIONAL BIOTECHNOLOGY TRUST PLC By: /s/ Andrew Barker ------------------------------------- Title: Director ---------------------------------- SCHRODER INVESTMENT MANAGEMENT LIMITED By: /s/ John Bainbridge ------------------------------------- Title: Executive Director ---------------------------------- /s/ Tom Daniel ---------------------------------------- Tom Daniel /s/ Kate Bingham ---------------------------------------- Kate Bingham /s/ Richard Colwell ---------------------------------------- Richard Colwell Page 10 of 10 pages 10 EX-99.1 3 dex991.txt FORM OF VOTING AGREEMENT Exhibit 1 --------- MICROCIDE PHARMACEUTICALS, INC. VOTING AGREEMENT This Voting Agreement (the "Agreement") is made and entered into as of this ______ day of _________________, 2001, by and between Microcide Pharmaceuticals, Inc., a Delaware corporation (the "Company"), and ____________ (the "Investor"). Witnesseth Whereas, the Investor is purchasing shares of the Company's Series B Convertible Redeemable Preferred Stock (the "Preferred Stock"), pursuant to that certain Subscription Agreement (the "Subscription Agreement") of even date herewith (the "Financing"); and Whereas, in connection with the consummation of the Financing, the Investor has agreed to provide the Company with a limited irrevocable proxy for the future voting of their Investor Shares. Now, Therefore, in consideration of these premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: AGREEMENT 1. Voting. 1.1 Investor Shares. (a) The Investor agrees to hold all shares of Preferred Stock registered in its name or beneficially owned by it as of the date hereof (hereinafter collectively referred to as the "Investor Shares") subject to the provisions of this Agreement. (b) The Investor represents and warrants that he, she or it is the beneficial owner of the number and type of Investor Shares set forth on the signature page hereto as of the date hereof, does not beneficially own any other shares of capital stock of the Company and has full power and authority to make, enter into and carry out the terms of this Agreement and to grant the proxy described herein. 1.2 Proxy. (a) The Investor hereby irrevocably constitutes and appoints the Chairman of the Board of Directors of the Company (in his or her capacity as such on behalf of the Company) such Investor's sole and exclusive, true and lawful proxy, attorney-in-fact and agent, with full power of substitution and resubstitution for such person and in such person's name, to vote all of the Investor Shares at every meeting of the stockholders of the Company, or by written consent without a meeting, for the sole purpose of voting the Investor Shares in the following manner: 1. (i) to vote "for" the election of directors of the Company any person nominated by the Board of Directors other than those persons to be elected to the Board of Directors by the holders of the Preferred Stock as a separate class pursuant to Section 12(c)(1) of the Certificate of Designations for the Preferred Stock (the "Certificate of Designations"); (ii) not to vote "for" the election of a director of the Company any person that has not been nominated by the Board of Directors other than those persons to be elected to the Board of Directors by the holders of the Preferred Stock as a separate class pursuant to Section 12(c)(1) of the Certificate of Designations; or (iii) to vote "for" any proposal to remove as a director of the Company any director (other than those directors elected to the Board of Directors by the holders of Preferred Stock as a separate class pursuant to Section 12(c)(1) of the Certificate of Designations), provided, that such proposal has been made, sponsored and submitted by, or at the direction of, the Board of Directors. (b) The Investor retains all other voting rights with respect to the Investor Shares except as set forth in Section 1.2(a). (c) The proxy and power of attorney granted herein is irrevocable and coupled with an interest. The Investor agrees not to take any actions contrary to the proxy granted herein or any other term or provision of this Agreement. The Investor agrees to execute and deliver any additional documents necessary or desirable, in the reasonable opinion of the Company, to carry out the intent of this Agreement. 1.3 Successors. The provisions of this Agreement shall be binding upon the successors in interest to, and to any transferee of, any of the shares of Preferred Stock. The Investor shall not sell, exchange, transfer, pledge or otherwise dispose, and the Company shall not permit the sale, exchange, transfer, pledge or other disposition, of any of the shares of Preferred Stock unless and until the person to whom such security is to be transferred shall have executed a written agreement, substantially in the form of this Agreement, pursuant to which such person becomes a party to this Agreement and agrees to be bound by all the provisions hereof as if such person were the Investor. Until the delivery by a transferee of such a written agreement, the Company shall not be obligated to transfer such shares of Preferred Stock on its books and records, nor shall the Company be required to issue any new certificates representing such shares. 1.4 Other Rights. Except as provided by this Agreement or any other agreement entered into in connection with the Financing, the Investor shall exercise the full rights of a holder of capital stock of the Company with respect to the Investor Shares. 2. 2. Termination. This Agreement shall continue in full force and effect from the date hereof through earlier of: (a) ten years from the date hereof and (b) the date on which the Investor no longer holds any shares of Preferred Stock. 3. Miscellaneous. 3.1 Specific Performance. The parties hereto hereby declare that it is impossible to measure in money the damages which will accrue to a party hereto or to their heirs, personal representatives, or assigns by reason of a failure to perform any of the obligations under this Agreement and agree that the terms of this Agreement shall be specifically enforceable. If any party hereto or his heirs, personal representatives, or assigns institutes any action or proceeding to specifically enforce the provisions hereof, any person against whom such action or proceeding is brought hereby waives the claim or defense therein that such party or such personal representative has an adequate remedy at law, and such person shall not offer in any such action or proceeding the claim or defense that such remedy at law exists. 3.2 Governing Law. This Agreement, and the rights of the parties hereto, shall be governed by and construed in accordance with the laws of the State of Delaware as such laws apply to agreements among Delaware residents made and to be performed entirely within the State of Delaware. 3.3 Amendment or Waiver. This Agreement may be amended (or provisions of this Agreement waived) only by an instrument in writing signed by the Company and the Investor. Any amendment or waiver so effected shall be binding upon the Company, each of the parties hereto and any assignee of any such party. 3.4 Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. 3.5 Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors, assigns, administrators, executors and other legal representatives. 3.6 Additional Shares. In the event that subsequent to the date of this Agreement any shares or other securities are issued on, or in exchange for, any of the Investor Shares by reason of any stock dividend, stock split, combination of shares, reclassification or the like, such shares or securities shall be deemed to be included in the definition of Investor Shares for purposes of this Agreement. 3.7 Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed an original but all of which together shall constitute one and the same agreement. 3. 3.8 Waiver. No waivers of any breach of this Agreement extended by any party hereto to any other party shall be construed as a waiver of any rights or remedies of any other party hereto or with respect to any subsequent breach. 3.9 Attorney's Fees. In the event that any suit or action is instituted to enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 3.10 Notices. Any notices required in connection with this Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written notification of receipt. All notices shall be addressed to the holder appearing on the books of the Company or at such address as such party may designate by ten (10) days advance written notice to the other parties hereto. 3.11 Entire Agreement. This Agreement, along with the Subscription Agreement and each of the Annexes thereto, constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof and no party shall be liable or bound to any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein and therein. [THIS SPACE INTENTIONALLY LEFT BLANK] 4. In Witness Whereof, the parties hereto have executed this Voting Agreement as of the date first above written. COMPANY: INVESTOR: Microcide Pharmaceuticals, Inc. [Name of Investor] By:____________________________ By:________________________________ Name:__________________________ Name:______________________________ Title:_________________________ Title:_____________________________ Number of Shares:__________________ Type of Shares:____________________ EX-99.2 4 dex992.txt FORM OF LOCK UP AGREEMENT Exhibit 2 LOCK-UP AGREEMENT __________ __, 2001 Microcide Pharmaceuticals, Inc. ________________________________ ________________________________ Attention:______________________ Ladies and Gentlemen: Microcide Pharmaceuticals, Inc., a Delaware corporation, (the "Company"), and ____________ (the "Investor"), have entered into a Subscription Agreement dated as of _________ __, 2001 (the "Subscription Agreement"), providing for the purchase of _______ shares (the "Shares") of the Company's Series B Convertible Redeemable Preferred Stock ("Company Preferred Stock") by the Investor (the "Investment"). Pursuant to the Subscription Agreement, the Investor hereby agrees that, without the prior written consent of the Company, it will not, during the period commencing on the date hereof and ending on ______ __, 2002 [insert date 270 days after the closing date of the Investment], (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, one half of all shares of Common Stock of the Company issuable upon conversion of the Shares or (2) enter into any swap, hedge or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of one half of all shares of Common Stock of the Company issuable upon conversion of the Shares, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Company Preferred Stock or such other securities, in cash or otherwise. The foregoing sentence shall not apply to transactions relating to shares of Common Stock of the Company or other securities in each case acquired in open market transactions. The undersigned confirms that the agreements of the undersigned are irrevocable and shall be binding on the undersigned's legal representatives, successors and assigns. The undersigned agrees and consents to the entry of stop transfer instructions with the Company's transfer agent against the transfer of securities of the Company held by the undersigned except in compliance with the terms and conditions of this Agreement. Very truly yours, _______________________ (Name of Investor) By:____________________ Print Name:____________ Title:_________________ EX-99.3 5 dex993.txt AGREEMENT REGARDING FILING OF JOINT SCHEDULE 13D Exhibit 3 --------- Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13D need be filed with respect to the ownership by each of the undersigned of shares of stock of Microcide Pharmaceuticals, Inc. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original. Executed this 5th day of November, 2001. INTERNATIONAL BIOTECHNOLOGY TRUST PLC By: /s/ Andrew Barker ------------------------ Title: Director ------------------------ SCHRODER INVESTMENT MANAGEMENT LIMITED By: /s/ John Bainbridge ------------------------ Title: Executive Director ------------------------ /s/ Tom Daniel ------------------------------- Tom Daniel /s/ Kate Bingham ------------------------------- Kate Bingham /s/ Richard Colwell ------------------------------- Richard Colwell EX-99.4 6 dex994.txt POWER OF ATTORNEY Exhibit 4 --------- POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints each and any of Tom Daniel, Kate Bingham or Richard Colwell, acting singly, his or her true and lawful attorney- in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities (until revoked in writing) to sign any and all instruments, certificates and documents required to be executed on behalf of himself or herself pursuant to sections 13 and 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any and all regulations promulgated thereunder, and to file the same, with all exhibits thereto, and any other documents in connection therewith, with the Securities and Exchange Commission, and with any other entity when and if such is mandated by the Exchange Act or by the By-laws of the National Association of Securities Dealers, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary fully to all intents and purposes as he might or could do in person thereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof. IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 5th day of November, 2001. /s/ Tom Daniel ------------------------ Tom Daniel /s/ Kate Bingham ------------------------ Kate Bingham /s/ Richard Colwell ------------------------ Richard Colwell