================================================================================
SEC 1745 (6-01) Potential persons who are to respond to the collection of
information contained in this form are not required to respond unless the form
displays a currently valid OMB control number.
================================================================================
------------------------------
OMB APPROVAL
------------------------------
OMB Number 3235-0145
Expires: October 31, 2002
Estimated average burden
hours per response ..... 14.90
------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
INTRABIOTICS PHARMACEUTICALS, INC.
________________________________________________________________________________
(Name of Issuer)
Common Stock, $.001 par value
________________________________________________________________________________
(Title of Class of Securities)
46116T 10 0
_______________________
(CUSIP Number)
February 13, 2003
________________________________________________________________________________
(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 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 8 pages
CUSIP No. 46116T 10 0 13G Page 2 of 8 Pages
________________________________________________________________________________
1. Name of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Tang Capital Partners, LP
________________________________________________________________________________
2. Check the Appropriate Box If a Member of a Group (See Instructions)
(a) [_]
(b) [X] Joint-Filing
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization
United States
________________________________________________________________________________
5. Sole Voting Power
NUMBER OF 1,572,242
SHARES _________________________________________________________________
BENEFICIALLY 6. Shared Voting Power
OWNED BY 0
EACH _________________________________________________________________
REPORTING 7. Sole Dispositive Power
PERSON 1,572,242
WITH: _________________________________________________________________
8. Shared Dispositive Power
0
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,572,242
________________________________________________________________________________
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)
4.0%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions)
PN
________________________________________________________________________________
CUSIP No. 46116T 10 0 13G Page 3 of 8 Pages
________________________________________________________________________________
1. Name of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Tang Capital Management, LLC
________________________________________________________________________________
2. Check the Appropriate Box If a Member of a Group (See Instructions)
(a) [_]
(b) [X] Joint-Filing
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization
United States
________________________________________________________________________________
5. Sole Voting Power
NUMBER OF 1,572,242
SHARES _________________________________________________________________
BENEFICIALLY 6. Shared Voting Power
OWNED BY 0
EACH _________________________________________________________________
REPORTING 7. Sole Dispositive Power
PERSON 1,572,242
WITH: _________________________________________________________________
8. Shared Dispositive Power
0
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,572,242
________________________________________________________________________________
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)
4.0%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions)
OO
________________________________________________________________________________
CUSIP No. 46116T 10 0 13G Page 4 of 8 Pages
________________________________________________________________________________
1. Name of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Kevin C. Tang
________________________________________________________________________________
2. Check the Appropriate Box If a Member of a Group (See Instructions)
(a) [_]
(b) [X] Joint-Filing
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization
United States
________________________________________________________________________________
5. Sole Voting Power
NUMBER OF 1,572,242
SHARES _________________________________________________________________
BENEFICIALLY 6. Shared Voting Power
OWNED BY 0
EACH _________________________________________________________________
REPORTING 7. Sole Dispositive Power
PERSON 1,572,242
WITH: _________________________________________________________________
8. Shared Dispositive Power
0
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,572,242
________________________________________________________________________________
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)
4.0%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions)
IN
________________________________________________________________________________
CUSIP No. 46116T 10 0 13G Page 5 of 8 Pages
________________________________________________________________________________
1. Name of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Oscar L. Tang
________________________________________________________________________________
2. Check the Appropriate Box If a Member of a Group (See Instructions)
(a) [_]
(b) [X] Joint-Filing
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization
United States
________________________________________________________________________________
5. Sole Voting Power
NUMBER OF 281,000
SHARES _________________________________________________________________
BENEFICIALLY 6. Shared Voting Power
OWNED BY 114,500
EACH _________________________________________________________________
REPORTING 7. Sole Dispositive Power
PERSON 281,000
WITH: _________________________________________________________________
8. Shared Dispositive Power
114,500
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person
395,500
________________________________________________________________________________
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)
1.0%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions)
IN
________________________________________________________________________________
________________________________________________________________________________
Item 1(a). Name of Issuer: Intrabiotics Pharmaceuticals, Inc.
________________________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
1245 Terra Bella Avenue, Mountain View, CA 94043
________________________________________________________________________________
Item 2(a). Name of Person Filing:
Tang Capital Partners, LP
Tang Capital Management, LLC
Kevin C. Tang
Oscar L. Tang
________________________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
Tang Capital Partners, LP
Tang Capital Management, LLC
Kevin C. Tang
4401 Eastgate Mall
San Diego, CA 92121
Oscar L. Tang
c/o Reich & Tang Asset Management LLC
600 Fifth Avenue, 8th Floor
New York, NY 10020
________________________________________________________________________________
Item 2(c). Citizenship: United States
________________________________________________________________________________
Item 2(d). Title of Class of Securities: Common Stock, par value $.001
________________________________________________________________________________
Item 2(e). CUSIP Number: 46116T 10 0
________________________________________________________________________________
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) [_] Broker or dealer registered under Section 15 of the Act
(15 U.S.C. 78o).
(b) [_] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [_] Insurance company as defined in Section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) [_] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [_] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G);
(h) [_] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [_] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [_] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
Not applicable.
ITEM 4. OWNERSHIP.
(a) Amount beneficially owned as of February 13, 2003:
The aggregate number and percentage of securities to which this
Schedule 13G relates is 1,967,742 shares, representing 5.0% of the
39,184,886 shares outstanding as reported by the Issuer in its
registration statement on Form S-3 (Reg. No. 333-101633). The Filing
Persons beneficially own those securities set forth below:
Tang Capital Partners, LP 1,572,242 shares
Tang Capital Management, LLC 1,572,242 shares
Kevin C. Tang 1,572,242 shares
Oscar L. Tang 395,500 shares
(b) Percent of class:
Tang Capital Partners, LP 4.0%
Tang Capital Management, LLC 4.0%
Kevin C. Tang 4.0%
Oscar L. Tang 1.0%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
Tang Capital Partners, LP 1,572,242 shares
Tang Capital Management, LLC 1,572,242 shares
Kevin C. Tang 1,572,242 shares
Oscar L. Tang 281,000 shares
(ii) Shared power to vote or to direct the vote:
Tang Capital Partners, LP 0 shares
Tang Capital Management, LLC 0 shares
Kevin C. Tang 0 shares
Oscar L. Tang 114,500 shares
(iii) Sole power to dispose or to direct the disposition of:
Tang Capital Partners, LP 1,572,242 shares
Tang Capital Management, LLC 1,572,242 shares
Kevin C. Tang 1,572,242 shares
Oscar L. Tang 281,000 shares
(iv) Shared power to dispose or to direct the disposition of:
Tang Capital Partners, LP 0 shares
Tang Capital Management, LLC 0 shares
Kevin C. Tang 0 shares
Oscar L. Tang 114,500 shares
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 person has 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 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:
See Item 12 of Cover Pages and Item 2 of this Schedule 13G.
Tang Capital Partners, LP is the registered holder of the shares. Tang Capital
Management, LLC is the general partner of Tang Capital Partners, LP. Kevin C.
Tang is the Manager of Tang Capital Management, LLC. Kevin C. Tang is the son
of Oscar L. Tang.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
March 3, 2003
----------------------------------------
(Date)
TANG CAPITAL PARTNERS, LP
By: Tang Capital Management, LLC
By: /s/ Kevin C. Tang
------------------------
Kevin C. Tang, Manager
TANG CAPITAL MANAGEMENT, LLC
By: /s/ Kevin C. Tang
------------------------
Kevin C. Tang, Manager
/s/ Kevin C. Tang
------------------------
KEVIN C. TANG
/s/ Oscar L. Tang
------------------------
OSCAR L. TANG
EXHIBIT I
TO
SCHEDULE 13G
UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
Pursuant to Rule 13d-1(k)(1), TANG CAPITAL PARTNERS, LP affirms that it
is individually eligible to use Schedule 13G and agrees that this Schedule is
filed on its behalf.
TANG CAPITAL PARTNERS, LP
By: Tang Capital Management, LLC
By: /s/ Kevin C. Tang
------------------------
Kevin C. Tang, Manager
EXHIBIT II
TO
SCHEDULE 13G
UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
Pursuant to Rule 13d-1(k)(1), TANG CAPITAL MANAGEMENT, LLC affirms that it
is individually eligible to use Schedule 13G and agrees that this Schedule is
filed on its behalf.
TANG CAPITAL MANAGEMENT, LLC
By: /s/ Kevin C. Tang
------------------------
Kevin C. Tang, Manager
EXHIBIT III
TO
SCHEDULE 13G
UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
Pursuant to Rule 13d-1(k)(1), KEVIN C. TANG affirms that he
is individually eligible to use Schedule 13G and agrees that this Schedule is
filed on his behalf.
/s/ Kevin C. Tang
------------------------
Kevin C. Tang
EXHIBIT IV
TO
SCHEDULE 13G
UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
Pursuant to Rule 13d-1(k)(1), OSCAR L. TANG affirms that he
is individually eligible to use Schedule 13G and agrees that this Schedule is
filed on his behalf.
/s/ Oscar L. Tang
------------------------
Oscar L. Tang