SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 RULE 13d-2(b)
(Amendment No. 1)*
Aeolus Pharmaceuticals Inc.
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(Name of Issuer)
COMMON STOCK
------------
(Title of Class of Securities)
00765G109
---------
(CUSIP Number)
December 31, 2004
-----------------
Date of Event which Requires Filing of this Statement
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] 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 in 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).
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CUSIP No. 00765G109 13G Page 2 of 12 Pages
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1 NAME OF REPORTING PERSON
Biotechnology Value Fund, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 336,000 shares (1)
WITH
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7 SOLE DISPOSITIVE POWER
0
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8 SHARED DISPOSITIVE POWER
336,000 shares (1)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
336,000 shares (1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.41%(1)(2)
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12 TYPE OF REPORTING PERSON (See Instructions)
PN
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See attached for footnotes.
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CUSIP No. 00765G109 13G Page 3 of 12 Pages
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1 NAME OF REPORTING PERSON
Biotechnology Value Fund II, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY ----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 238,000 shares (1)
WITH ----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
238,000 shares (1)
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
238,000 shares (1)
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.71%(1)(2)
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12 TYPE OF REPORTING PERSON (See Instructions)
PN
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See attached for footnotes.
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CUSIP No. 00765G109 13G Page 4 of 12 Pages
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1 NAME OF REPORTING PERSON
BVF Investments, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 490,000 shares (1)
WITH -----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
490,000 shares (1)
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
490,000 shares (1)
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.51%(1)(2)
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12 TYPE OF REPORTING PERSON (See Instructions)
OO
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See attached for footnotes.
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CUSIP No. 00765G109 13G Page 5 of 12 Pages
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1 NAME OF REPORTING PERSON
Investment 10, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY ----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 56,000 shares(1)
WITH
----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
56,000 shares (1)
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
56,000 shares (1)
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.40%(1)(2)
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12 TYPE OF REPORTING PERSON (See Instructions)
OO
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See attached for footnotes.
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CUSIP No. 00765G109 13G Page 6 of 12 Pages
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1 NAME OF REPORTING PERSON
BVF Partners L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY ----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 1,120,000 shares (1)
WITH
----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,120,000 shares (1)
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,120,000 shares (1)
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.03%(1)(2)
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12 TYPE OF REPORTING PERSON (See Instructions)
PN
--------------------------------------------------------------------------------
See attached for footnotes.
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CUSIP No. 00765G109 13G Page 7 of 12 Pages
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1 NAME OF REPORTING PERSON
BVF Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY ----------------------------------------------------------------
OWNED BY
EACH 6 SHARED VOTING POWER
REPORTING
PERSON 1,120,000 shares (1)
WITH ----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,120,000 shares (1)
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,120,000 shares (1)
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See
Instructions)
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.03%(1)(2)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
IA, CO
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See attached for footnotes.
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CUSIP No. 00765G109 13G Page 8 of 12 Pages
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The following footnotes relate to pages 2 thru 7:
(1) With respect to each Reporting Person, the following securities are held, as
follows (See Item 2(a) for defined terms for each entity and all other
capitalized terms below):
Security Type BVF BVF2 Investments ILL10 Partners BVF Inc.
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Common Stock 240,000 170,000 350,000 40,000 800,000 800,000
Warrants 96,000 68,000 140,000 16,000 320,000 320,000
------------
The Warrants may be exercised at any time until expiration on April 19, 2009 for
shares of the issuer's Common Stock at an exercise price of $0.40 per share
(subject to adjustment).
(2) Percentage calculations are based on 13,947,303 shares of Common Stock
outstanding and 1,120,000 shares of Common Stock issuable upon exercise of the
Warrants held by the Reporting Persons.
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CUSIP No. 00765G109 13G Page 9 of 12 Pages
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Item 1(a). Name of Issuer:
Aeolus Pharmaceuticals Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
P.O. Box 14287
79 T.W. Alexander Drive
4401 Research Commons, Suite 200
Research Triangle Park, NC 27709
Item 2(a). Names of Person Filing
This Amendment 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 or, if none, Residence:
The principal business office of the Reporting Persons comprising the group
filing this Amendment to Schedule 13G is located at 227 West Monroe Street,
Suite 4800, Chicago, Illinois, 60606.
Item 2(c). Citizenship or Place of Organization:
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
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CUSIP No. 00765G109 13G Page 10 of 12 Pages
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Item 2(d). Title of Class of Securities:
This Amendment to Schedule 13G is being filed with respect to the common
stock, par value $.001 per share (the "Common Stock"), of Aeolus Pharmaceuticals
Inc. The Reporting Persons' percentage ownership of Common Stock is based on
13,947,303 shares of Common Stock being outstanding and the beneficial ownership
by the Reporting Persons of 320,000 warrants (the "Warrants") to purchase an
equivalent number of shares of the Common Stock. See the discussion in footnote
(1) for a further description of the Warrants.
As of December 31, 2004, (i) BVF beneficially owned 336,000 shares of
Common Stock, of which 96,000 shares are attributable to Warrants; (ii) BVF2
beneficially owned 238,000 shares of Common Stock, of which 68,000 shares are
attributable to Warrants; (iii) Investments beneficially owned 490,000 shares of
Common Stock, of which 140,000 shares are attributable to Warrants; and (iv)
ILL10 beneficially owned 56,000 shares of Common Stock, of which 16,000 shares
are attributable to Warrants. Beneficial ownership by Partners and BVF Inc.
includes 1,120,000 shares of Common Stock, of which 320,000 shares are
attributable to Warrants.
Item 2(e). CUSIP Number:
00765G109
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 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 to Schedule 13G is hereby incorporated by reference.
Item 5. Ownership of 5 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. | |
Item 6. Ownership of More than 5 Percent on Behalf of Another Person
Pursuant to the operating agreement of Investments, Partners is authorized,
among other things, to invest funds of Ziff Asset Management, L.P., the majority
member of Investments, in shares of Common Stock and Warrants described herein
and to vote and exercise dispositive power over those securities. Partners and
BVF Inc. share voting and dispositive power over the shares of Common Stock and
the Warrants beneficially owned by BVF, BVF2, Investments and those owned by
ILL10, on whose behalf Partners acts as investment manager and, accordingly,
Partners and BVF Inc. have beneficial ownership of all of the shares of Common
Stock and Warrants held by such parties.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Securities 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.
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CUSIP No. 00765G109 13G Page 11 of 12 Pages
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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.
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.
Dated February 11, 2005
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 attorney-in-fact
By: BVF Inc., its general partner
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CUSIP No. 00765G109 13G Page 12 of 12 Pages
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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