SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Amendment No. 4
Under the Securities Exchange Act of 1934
Flamel Technologies S.A.
------------------------
(Name of Issuer)
Ordinary Shares
------------------------
(Title of Class of Securities)
338488 10 9
------------------------
(CUSIP Number)
Hilary Strain
One Embarcadero Center, Suite 4050
San Francisco, CA 94111
(415) 362-4022
------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
April 16, 2003
------------------------
(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 Rule 13d-1(b)(3) or (4), check the following box
[ ].
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class. (See Rule 13d-7).
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) 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 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, as amended (the "Exchange Act") or otherwise subject to the
liabilities of that section of the Exchange Act but shall be subject to all
other provisions of the Exchange Act.
(Continued on following page(s))
Page 1 of 18 Pages
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 2 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta Partners
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 1
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 1
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,000 Please see Footnote 1
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 1: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 3 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta BioPharma Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 2
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 2
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,000 Please see Footnote 2
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 2: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 4 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta Embarcadero BioPharma, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 3
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 3
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,000 Please see Footnote 3
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 3: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 5 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Flamel Chase Partners (Alta Bio), LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 4
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 4
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,000 Please see Footnote 4
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 4: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 6 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta BioPharma Management, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 5
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 5
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,000 Please see Footnote 5
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 5: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 7 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta/Chase BioPharma Management, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 6
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 6
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,000 Please see Footnote 6
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 6: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 8 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jean Deleage
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
1
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 7
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 7
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,001 Please see Footnote 7 and 7a
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 7: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
Footnote 7a: In addition Jean Deleage owns 1 share of Flamel Ordinary Shares.
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 9 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Garrett Gruener
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,000
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 8
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,000
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 8
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,587,000 Please see Footnote 8
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 8: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
In addition, Mr. Gruener owns 1,000 shares in his BEDCO Pension and Profit
Sharing.
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 10 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Daniel Janney
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 9
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 9
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,000 Please see Footnote 9
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 9: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 11 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alix Marduel
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 10
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 10
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,586,000 Please see Footnote 10
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 10: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 12 of 18 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Guy Nohra
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,000
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,586,000 See Footnote 11
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,000
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,586,000 See Footnote 11
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,587,000 Please see Footnote 11
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Footnote 11: Includes 2,161,000 shares of ordinary shares and Warrants to
purchase 1,050,000 shares of Class A (BSA) and 375,000 shares of Class B (BSA).
In addition Mr. Nohra owns 1,000 shares in his BEDCO Pension and Profit Sharing.
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 13 of 18 Pages
- --------------------------------------------------------------------------------
Item 1. Security and Issuer.
This Statement on Schedule D relates to the Ordinary Shares,
$0.080 French franc par value per share (the "Shares"), of Flamel Technologies,
S.A., a French Societe Anonyme organized under the laws of The Republic of
France (the "Company"). The principal executive offices of the Company are
located at Parc Club Du Moulin a Vent, 33, avenue de Dr. Georges Levy,
Venissieux, Cedex 69693, France.
Item 2. Identity and Background.
(a) This Statement is filed by Alta BioPharma Partners, L.P.,
a Delaware limited partnership ("Alta BioPharma"), Alta Embarcadero BioPharma,
LLC, a California limited liability company ("Embarcadero LLC"), and Flamel
Chase Partners (Alta Bio), LLC, a Delaware limited liability company ("Flamel
Alta Bio") by virtue of their direct beneficial ownership of shares, by Alta
BioPharma Management Partners, LLC, a Delaware limited liability company ("Alta
Management"), by virtue of being the sole general partner of Alta BioPharma, by
Alta/Chase BioPharma Management LLC, a Delaware limited liability company
(Alta/Chase Management) by virtue of being the sole managing member of Flamel
Chase Partners (Alta Bio), LLC and by Alta Partners, a California corporation
("Alta Partners"), by virtue of being the management advisory company of these
entities. Alta BioPharma, Embarcadero LLC, Flamel Alta Bio, Alta Management,
Alta/Chase Management and Alta Partners are collectively referred to as the
"Reporting Persons." Jean Deleage, Garrett Gruener, Daniel Janney, Alix Marduel,
and Guy Nohra (the "Managing Directors") are the managing directors and members
of Alta Management, Alta/Chase Management and officers of Alta Partners. By
virtue of the relationships described above and their roles with Alta Partners,
each of the Managing Directors and members may be deemed to control Alta
Partners, Alta/Chase Management, Alta Management, and, therefore, may be deemed
to possess indirect beneficial ownership of the shares held by each entity.
However, none of the Managing Directors, acting alone, has voting or investment
power with respect to the shares directly beneficially held by the entities and,
as a result, the Managing Directors disclaim beneficial ownership of the shares
beneficially owned by each entity, except to the extent of their pecuniary
interest in each entity. Embarcadero LLC is a side company that makes all
investments pro rata to the capital of Alta BioPharma with all allocations made
to its members based on paid-in capital. Certain Managing Directors are members
of Embarcadero LLC and certain members of Embarcadero LLC are affiliates of Alta
Partners.
(b) The principal executive offices of Alta BioPharma,
Embarcadero LLC, Flamel Chase Alta Bio, Alta Management, Alta/Chase Management
and Alta Partners, and the business address of each Partner, are located at One
Embarcadero Center, Suite 4050, San Francisco, California 94111.
(c) Alta Partners provides investment advisory services to
venture capital firms. Alta BioPharma, Flamel Chase Alta Bio and Embarcadero
LLC's principal business is acting as venture capital investment vehicles.
Alta/Chase Management and Alta Management's principal business is acting as
managing director of Flamel Chase Alta Bio and Alta BioPharma, respectively.
Each of the Directors' principal business is acting as a managing director of
Alta Management and Alta/Chase Management and as a director of Alta Partners.
(d) None of the Reporting Persons or, to the knowledge of the
Reporting Persons, any of the Managing Directors, has been convicted in a
criminal proceeding in the past five years (excluding traffic violations or
similar misdemeanors).
(e) During the past five years, none of the Reporting Persons
or, to the knowledge of the Reporting Persons, and none of the Managing
Directors, was 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 activities subject to, federal or state securities laws
of finding any violation with respect to such laws.
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 14 of 18 Pages
- --------------------------------------------------------------------------------
(f) Alta Partners is a California corporation. Alta BioPharma
is a Delaware limited partnership. Embarcadero LLC is a California limited
liability corporation. Flamel Chase Alta Bio is a Delaware limited liability
company. Alta Management and Alta/Chase Management are Delaware limited
liability companies. Each of the Managing Directors is a citizen of the United
States.
(g) Jean Deleage resigned his position as a Director of Flamel
Technologies on August 13, 2001. Mr. Deleage owns one share of Ordinary Stock of
Flamel Technologies stock. He is a managing director of Alta Management,
Alta/Chase Management and a managing member of Embarcadero, LLC. By virtue of
his roles with Alta Partners, he may be deemed to share control of Alta
Partners, Alta/Chase Management, Alta Management, and, therefore, may be deemed
to possess indirect beneficial ownership of the Shares held by each entity.
However, he is not acting alone, he has voting or investment power with respect
to the shares directly beneficially held by the entities and, as a result, he
disclaims beneficial ownership of the shares directly beneficially owned by each
entity, except to the extent of their pecuniary interest in each entity.
Item 3. Source and Amount of Funds or Other Consideration.
The total amount of funds required by Alta BioPharma to
exercise the warrants for 466,192 shares of Ordinary Stock reported in Item 5(a)
was $65,266.88, the total amount of funds required by Embarcadero LLC to
exercise the warrants for 17,572 shares of Ordinary Stock was as reported in
Item 5(a) was $2,460.08 and the total amount of funds required by Flamel Chase
Alta Bio to exercise the warrants for 266,236 shares of Ordinary Shares reported
in Item 5(a) was $37,273.04. Such funds were provided by each entity's capital
available for investment.
Item 4. Purpose of Transaction.
On April 9, 2003, the funds affiliated with Alta Partners
acquired Ordinary Stock through the exercising of its Class C Ordinary warrants
into shares of Ordinary Stock at the exercise price of $0.14 per share. Alta
BioPharma exercised a Class C Ordinary warrant for an aggregate purchase price
of $65,266.88 and received 466,192 shares of Ordinary Stock. Flamel Chase Alta
Bio exercised a Class C Ordinary Warrant for the aggregate purchase price of
$37,273.04 and received 266,236 shares of Ordinary Stock. Embarcadero LLC
exercised a Class C Ordinary warrant for the aggregate purchase price of
$2,460.08 and received 17,572 shares of Ordinary Stock. Alta BioPharma,
Embarcadero LLC, and Flamel Chase Alta Bio acquired the Ordinary Shares reported
in Item 5(c) for investment only. Depending upon their evaluation of the
Company's investments and prospects, and upon future developments (including,
but not limited to, market for the Shares, the effective yield on the Shares,
availability of funds, alternative uses of funds, and money, stock market and
general economic conditions), each of the Reporting Persons may from time to
time purchase the Ordinary Shares, dispose of all or a portion of the Ordinary
Shares that it holds, or cease buying or selling Ordinary Shares. Any such
additional purchases or sales of the Ordinary Shares may be in open market or
privately negotiated transactions or otherwise.
From April 9, 2003 to April 16, 2003, the funds affiliated
with Alta Partners sold an aggregate of 464,000 shares of Ordinary Stock for the
aggregate purchase price of $3,959,844.49. The shares were sold in broker
transactions on the NASDAQ exchange. The list below provides the information in
connection with the sales:
Fund Date of Sale # of Shares Sold Average Per Share Sale Price
Alta BioPharma Partners, L.P.
4/09/03 124,317 $8.81
4/10/03 16,782 $8.7117
4/11/03 62,158 $8.10
4/14/03 1,243 $8.8075
4/15/03 21,755 $8.5305
4/16/03 62,158 $8.35
-------
Total 288,413
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 15 of 18 Pages
- --------------------------------------------------------------------------------
Fund Date of Sale # of Shares Sold Average Per Share Sale Price
Flamel Chase Partners (Alta Bio), LLC.
4/09/03 70,997 $8.81
4/10/03 9,584 $8.7117
4/11/03 35,498 $8.10
4/14/03 709 $8.8075
4/15/03 12,424 $8.5305
4/16/03 35,498 $8.35
-------
Total 164,710
Alta Embarcadero BioPharma Partners, LLC.
4/09/03 4,686 $8.81
4/10/03 634 $8.7117
4/11/03 2,344 $8.10
4/14/03 48 $8.8075
4/15/03 821 $8.5305
4/16/03 2,344 $8.35
------
Total 10,877
Item 5. Interest in Securities of the Issuer.
(a) Alta BioPharma is the direct beneficial owner of 2,229,015
shares(18) of Ordinary Stock or approximately 13.05% of the shares deemed
outstanding by the Company (17,083,352(19)) as of April 16, 2003. Flamel Chase
Alta Bio is the direct beneficial owner of 1,272,975(20) shares of Ordinary
Stock or approximately 7.6% of the shares deemed outstanding by the Company
(16,703,442)(20a) as of April 16, 2003. Embarcadero LLC is the direct beneficial
owner of 84,010(21) shares of Ordinary Stock or approximately .5% of the shares
deemed outstanding by the Company (16,230,976)(21a) as of April 16, 2003.
(b) Each entity has the power to direct the disposition of and
vote the stock held by it. By virtue of the relationships previously reported
under Item 2 of this Statement, Alta Management, Alta/Chase Management and Alta
Partners may be deemed to have indirect beneficial ownership of the shares owned
by such entities.
(c) On April 9, 2003 Alta BioPharma, Flamel Chase Alta Bio,
and Embarcadero LLC exercised warrants described in Item 3 of this Statement in
a accordance with the terms of the warrants with the Company for aggregate
consideration of $65,266.88, $37,273.04 and $2,460.08, respectively.
- --------
18 Alta BioPharma: Includes 1,343,253 shares of Ordinary Stock and Warrants to
purchase 652,666 shares of Class A (BSA) and 233,096 shares of Class B (BSA).
19 Includes 16,197,590 shares of outstanding Ordinary Stock and Warrants to
purchase 885,762 shares of Class A and B (BSA).
20 Flamel Chase Alta Bio: Includes 767,123 shares of Ordinary Stock and Warrants
to purchase 372,734 shares of Class A (BSA) and B 133,118 shares of Class B
(BSA).
20a Includes 16,197,590 shares of outstanding Ordinary Stock and Warrants to
purchase 505,852 shares of Class A and B (BSA).
21 Embarcadero LLC: Includes 50,624 shares of Ordinary Stock and Warrants to
purchase 24,600 shares of Class A (BSA) and 8,786 shares of Class B (BSA).
21a Includes 16,197,590 shares of outstanding Ordinary Stock and Warrants to
purchase 33,386 shares of Class A and B (BSA).
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 16 of 18 Pages
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Except as set forth above, neither the Reporting
Persons nor the Directors have effected any transaction in the Shares during the
past 60 days.
(d) Alta BioPharma, Flamel Chase Alta Bio and Embarcadero LLC
each have the right to receive dividends and proceeds from the sale of Ordinary
Shares held by it. By virtue of the relationships reported in Item 2 of this
Statement, Alta Management, Alta/Chase Management and Alta Partners may be
deemed to have the power to direct the receipt of dividends and the proceeds
from the sale of the Ordinary Shares held by each entity.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
n/a
Item 7. Material to be Filed as Exhibits.
Exhibit A: Joint Filing Statement.
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 17 of 18 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.
Date: April 16, 2003
Alta Partners Alta BioPharma Partners, L.P.
By: /s/ Jean Deleage By: Alta BioPharma Management, LLC
-------------------------------------------- Its General Partner
Jean Deleage, President
Alta BioPharma Management, LLC By: /s/ Jean Deleage
--------------------------------------------
Jean Deleage, Managing Director
By: /s/ Jean Deleage Flamel Chase Partners (Alta Bio), LLC
--------------------------------------------
Jean Deleage, Managing Director
By: Alta/Chase BioPharma Management, LLC
Alta/Chase BioPharma Management, LLC Its Managing Member
By: /s/ Jean Deleage By: /s/ Jean Deleage
-------------------------------------------- --------------------------------------------
Jean Deleage, Member Jean Deleage, Member
Alta Embarcadero BioPharma, LLC
By: /s/ Jean Deleage
--------------------------------------------
Jean Deleage, Member
/s/ Jean Deleage /s/ Guy Nohra
- -------------------------------------------- --------------------------------------------
Jean Deleage Guy Nohra
/s/ Garrett Gruener /s/ Alix Marduel
- -------------------------------------------- --------------------------------------------
Garrett Gruener Alix Marduel
/s/ Daniel Janney
- --------------------------------------------
Daniel Janney
CUSIP No. 0338488 10 9 SCHEDULE 13D Page 18 of 18 Pages
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EXHIBIT A
Joint Filing Statement
We, the undersigned, hereby express our agreement that the attached
Schedule 13D is filed on behalf of each of us.
Date: April 16, 2003
Alta Partners Alta BioPharma Partners, L.P.
By: /s/ Jean Deleage By: Alta BioPharma Management, LLC
-------------------------------------------- Its General Partner
Jean Deleage, President
Alta BioPharma Management, LLC By: /s/ Jean Deleage
--------------------------------------------
Jean Deleage, Managing Director
By: /s/ Jean Deleage Flamel Chase Partners (Alta Bio), LLC
--------------------------------------------
Jean Deleage, Managing Director
By: Alta/Chase BioPharma Management, LLC
Alta/Chase BioPharma Management, LLC Its Managing Member
By: /s/ Jean Deleage By: /s/ Jean Deleage
-------------------------------------------- --------------------------------------------
Jean Deleage, Member Jean Deleage, Member
Alta Embarcadero BioPharma, LLC
By: /s/ Jean Deleage
--------------------------------------------
Jean Deleage, Member
/s/ Jean Deleage /s/ Guy Nohra
- -------------------------------------------- --------------------------------------------
Jean Deleage Guy Nohra
/s/ Garrett Gruener /s/ Alix Marduel
- -------------------------------------------- --------------------------------------------
Garrett Gruener Alix Marduel
/s/ Daniel Janney
- --------------------------------------------
Daniel Janney