UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934

(Amendment No. 1)

ALTUS PHARMACEUTICALS INC.

(Name of Issuer)

Common Stock, Par Value $0.01 Per Share
(Title of Class of Securities)

02216N105

(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)

þ Rule 13d-1(c)

o Rule 13d-1(d)

CUSIP No. 02216N105  13G/A  Page 2  of  8 Pages 

1	NAMES OF REPORTING PERSONS INTERNATIONAL BIOTECHNOLOGY TRUST PLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   o
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	UNITED KINGDOM
		5	SOLE VOTING POWER
NUMBER OF			-0-
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			-0-
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			-0-
WITH		8	SHARED DISPOSITIVE POWER
			-0-
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	-0-
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	0.0%
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

CUSIP No. 02216N105  13G/A  Page 3  of  8 Pages 

1	NAMES OF REPORTING PERSONS SV LIFE SCIENCES MANAGERS LLP
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   o
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	UNITED KINGDOM
		5	SOLE VOTING POWER
NUMBER OF			-0-
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			-0-
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			-0-
WITH		8	SHARED DISPOSITIVE POWER
			-0-
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	-0-
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	0.0%
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	PN

CUSIP No. 02216N105 13G/A Page 4 of 8 Pages

ITEM 1(a).	NAME OF ISSUER:
	Altus Pharmaceuticals Inc. (the “Issuer”)

ITEM 1(b).	ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:
	640 Memorial Drive Cambridge, MA 02139

ITEM 2(a).	NAME OF PERSON FILING:
	This statement is being filed by the following persons:

(i)	International Biotechnology Trust plc (“IBT”); and
(ii)	SV Life Sciences Managers LLP (“Managers”).

IBT and Managers are sometimes individually referred to herein as
a “Reporting Person” and collectively as the “Reporting Persons.”

ITEM 2(b).	ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
	Address for IBT: 31 Gresham Street London, EC2V 7QA United Kingdom
	Address for Managers: 71 Kingsway London, WC2B 6ST United Kingdom

ITEM 2(c).	CITIZENSHIP:
	IBT — United Kingdom Managers — United Kingdom

ITEM 2(d).	TITLE OF CLASS OF SECURITIES:
	Common Stock, par value $0.01 per share

ITEM 2(e).	CUSIP NUMBER:
	02216N105

ITEM 3.       Not applicable.

CUSIP No. 02216N105 13G/A Page 5 of 8 Pages

ITEM 4.	OWNERSHIP.
	Provide the following information regarding the aggregate number and percentage of the class of securities of the Issuer identified in Item 1.
	For IBT and Managers:

(a)	Amount beneficially owned: No shares of Common Stock
(b)	Percent of class: 0.0%
(c)	Number of shares as to which such person has:

(i)	Sole power to vote or to direct the vote: -0-
(ii)	Shared power to vote or to direct the vote: -0-
(iii)	Sole power to dispose or to direct the disposition of: -0-
(iv)	Shared power to dispose or to direct the disposition of: -0-

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 owners of more than 5 percent of the class of securities, check the following þ.

ITEM 6.	OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
	Not applicable.

ITEM 7.	IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
	Not applicable.

ITEM 8.	IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
	Not applicable.

ITEM 9.	NOTICE OF DISSOLUTION OF GROUP.
	Not applicable.

CUSIP No. 02216N105 13G/A Page 6 of 8 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.

CUSIP No. 02216N105 13G/A Page 7 of 8 Pages

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.

February 12, 2009

Date

INTERNATIONAL BIOTECHNOLOGY TRUST PLC

/s/ Nick Coleman

Signature

Nick Coleman, Authorized Signatory

Name/Title

SV LIFE SCIENCES MANAGERS LLP

/s/ Nick Coleman

Signature

Nick Coleman, Authorized Signatory

Name/Title

CUSIP No. 02216N105 13G/A Page 8 of 8 Pages

EXHIBIT INDEX

Exhibit 1. Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended. *

* Filed with the Schedule 13G on October 14, 2008.