Schedule 13G

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 13d-2(b)
(Amendment No. ___)*

    Biocryst Pharmaceuticals Inc.
(Name of Issuer)
   

 

 

 

 

 
    Common Stock
(Title of Class of Securities)
   

 

 

 

 

 
    09058V 10 3
(CUSIP Number)
   

 

 

 

 

 
    October 31, 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:


*
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.


     
CUSIP NO. 09058V 10 3   13G   Page 2 of 10 Pages

     

1   NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
   

 

 

Biotechnology Value Fund, L.P.

 

 

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*    
        (a)x
        (b)o

3   SEC USE ONLY    

 

 

 

 

 

4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 

 

Delaware

 

 

  5   SOLE VOTING POWER
NUMBER     0
OF    
SHARES 6   SHARED VOTING POWER
BENEFICIALLY     518,600
OWNED BY    
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     0
PERSON    
WITH 8   SHARED DISPOSITIVE POWER
      518,600

9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 

 

518,600

 

 

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    

 

 

 

 

o

11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    

 

 

2.94%

 

 

12   TYPE OF REPORTING PERSON*    

 

 

PN

 

 

* SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

 

 

 


     
CUSIP NO. 09058V 10 3   13G   Page 3 of 10 Pages

     

1   NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
   

 

 

Biotechnology Value Fund II, L.P.

 

 

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*    
        (a)x
        (b)o

3   SEC USE ONLY    

 

 

 

 

 

4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 

 

Delaware

 

 

  5   SOLE VOTING POWER
NUMBER     0
OF    
SHARES 6   SHARED VOTING POWER
BENEFICIALLY     272,283
OWNED BY    
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     0
PERSON    
WITH 8   SHARED DISPOSITIVE POWER
      272,283

9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 

 

272,283

 

 

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    

 

 

 

 

o

11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    

 

 

1.54%

 

 

12   TYPE OF REPORTING PERSON*    

 

 

PN

 

 

* SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

 

 

 


     
CUSIP NO. 09058V 10 3   13G   Page 4 of 10 Pages

     

1   NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
   

 

 

BVF Investments, L.L.C.

 

 

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*    
        (a)x
        (b)o

3   SEC USE ONLY    

 

 

 

 

 

4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 

 

Delaware

 

 

  5   SOLE VOTING POWER
NUMBER     0
OF    
SHARES 6   SHARED VOTING POWER
BENEFICIALLY     607,217
OWNED BY    
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     0
PERSON    
WITH 8   SHARED DISPOSITIVE POWER
      607,217

9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 

 

607,217

 

 

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    

 

 

 

 

o

11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    

 

 

3.44%

 

 

12   TYPE OF REPORTING PERSON*    

 

 

OO

 

 

* SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

 

 

 


     
CUSIP NO. 09058V 10 3   13G   Page 5 of 10 Pages

     

1   NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
   

 

 

Investment 10, L.L.C.

 

 

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*    
        (a)x
        (b)o

3   SEC USE ONLY    

 

 

 

 

 

4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 

 

Illinois

 

 

  5   SOLE VOTING POWER
NUMBER     0
OF    
SHARES 6   SHARED VOTING POWER
BENEFICIALLY     40,000
OWNED BY    
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     0
PERSON    
WITH 8   SHARED DISPOSITIVE POWER
      40,000

9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 

 

40,000

 

 

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    

 

 

 

 

o

11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    

 

 

0.23%

 

 

12   TYPE OF REPORTING PERSON*    

 

 

OO

 

 

* SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

 

 

 


     
CUSIP NO. 09058V 10 3   13G   Page 6 of 10 Pages

     

1   NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
   

 

 

BVF Partners L.P.

 

 

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*    
        (a)x
        (b)o

3   SEC USE ONLY    

 

 

 

 

 

4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 

 

Delaware

 

 

  5   SOLE VOTING POWER
NUMBER     0
OF    
SHARES 6   SHARED VOTING POWER
BENEFICIALLY     1,438,100
OWNED BY    
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     0
PERSON    
WITH 8   SHARED DISPOSITIVE POWER
      1,438,100

9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 

 

1,438,100

 

 

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    

 

 

 

 

o

11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    

 

 

8.14%

 

 

12   TYPE OF REPORTING PERSON*    

 

 

PN

 

 

* SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

 

 

 


     
CUSIP NO. 09058V 10 3   13G   Page 7 of 10 Pages

     

1   NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
   

 

 

BVF Inc.

 

 

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*    
        (a)x
        (b)o

3   SEC USE ONLY    

 

 

 

 

 

4   CITIZENSHIP OR PLACE OF ORGANIZATION    

 

 

Delaware

 

 

  5   SOLE VOTING POWER
NUMBER     0
OF    
SHARES 6   SHARED VOTING POWER
BENEFICIALLY     1,438,100
OWNED BY    
EACH 7   SOLE DISPOSITIVE POWER
REPORTING     0
PERSON    
WITH 8   SHARED DISPOSITIVE POWER
      1,438,100

9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON    

 

 

1,438,100

 

 

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*    

 

 

 

 

o

11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9    

 

 

8.14%

 

 

12   TYPE OF REPORTING PERSON*    

 

 

IA, CO

 

 

* SEE INSTRUCTIONS BEFORE FILLING OUT!

 

 

 

 

 


     
CUSIP NO. 09058V 10 3   13G   Page 8 of 10 Pages

     


ITEM 1(a).  NAME OF ISSUER:


ITEM 1(b).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

ITEM 2(a).  NAME OF PERSON FILING:

ITEM 2(b).  ADDRESS OF PRINCIPAL BUSINESS OFFICE:

ITEM 2(c).  CITIZENSHIP:

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

ITEM 2(d).  TITLE OF CLASS OF SECURITIES:

ITEM 2(e).  CUSIP Number:



     
CUSIP NO. 09058V 10 3   13G   Page 9 of 10 Pages

     


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


ITEM 4.  OWNERSHIP:


ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:


ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:


ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
                THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:


ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP:


ITEM 9.  NOTICE OF DISSOLUTION OF GROUP:



     
CUSIP NO. 09058V 10 3   13G   Page 10 of 10 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.

        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:  November 5, 2003          
           
    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
           
        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

eXHIBIT 1

EXHIBIT 1

AGREEMENT REGARDING JOINT FILING

        The undersigned, Biotechnology Value Fund, L.P., a Delaware limited partnership, Biotechnology Value Fund II, L.P., a Delaware limited partnership, BVF Investments, L.L.C., a Delaware limited liability company, Investment 10, L.L.C., an Illinois limited liability company, BVF Partners L.P., a Delaware limited partnership, and BVF Inc., a Delaware corporation, hereby agree and acknowledge that the information required by Schedule 13G, to which this Agreement is attached as an exhibit, is filed on behalf of each of them. The undersigned further agree that any amendments or supplements thereto shall also be filed on behalf of each of them.

Dated:  November 5, 2003          
           
    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
           
        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