Filed On 5/24/06 2:28pm ET · SEC File 5-81821 · Accession Number 932440-6-258
As Of Filer Filing As/For/On Docs:Pgs Issuer Agent
5/24/06 Proquest Investments II LP SC 13D 3:13 Novacea Inc Kelley Drye & Warren/FA
General Statement of Beneficial Ownership · Schedule 13D
Filing Table of Contents
Document/Exhibit Description Pages Size
1: SC 13D General Statement of Beneficial Ownership 11 31K
2: EX-24 Exhibit 24.1 Power of Attorney 1 6K
3: EX-99 Joint Filing Agreement 1 5K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------------
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
NOVACEA, INC.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.001
--------------------------------------------------------------------------------
(Title of Class of Securities)
669878 10 3
--------------------------------------------------------------------------------
(CUSIP Number)
ProQuest Investments II, L.P.
90 Nassau Street, Fifth Floor
Princeton, NJ 08542
(609) 919-3560
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
MAY 15, 2006
--------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box |_|.
CUSIP NO. 669878 10 3
--------- ----------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
ProQuest Investments II, L.P. 22-3764772
--------- ----------------------------------------------------------------------
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
--------- ----------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 0
-------- ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 1,779,767
-------- ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER
REPORTING 0
-------- ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER
1,779,767
--------- ----------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,779,767
--------- ----------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------- ----------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.0%
--------- ----------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------- ----------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
ProQuest Investments II Advisors Fund, L.P. 22-3784567
--------- ----------------------------------------------------------------------
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
--------- ----------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 0
-------- ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 75,508
--------- ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER
REPORTING 0
--------- ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER
75,508
--------- ----------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
75,508
--------- ----------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------- ----------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
--------- ----------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------- ----------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
ProQuest Associates II LLC 22-3764735
--------- ----------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) | |
(b) |X|
--------- ----------------------------------------------------------------------
3. SEC USE ONLY
--------- ----------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
--------- ----------------------------------------------------------------------
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
--------- ----------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 0
-------- ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 1,855,275
--------- ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER
REPORTING 0
--------- ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER
1,855,275
--------- ----------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,855,275
--------- ----------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------- ----------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.3%
--------- ----------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
OO
--------- ----------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
Jay Moorin
--------- ----------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) | |
(b) |X|
--------- ----------------------------------------------------------------------
3. SEC USE ONLY
--------- ----------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
--------- ----------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
--------- ----------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
US
--------- ----------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 55,713
-------- ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 1,855,275
--------- ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER
REPORTING 55,713
--------- ------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
1,855,275
--------- ----------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,910,988
--------- ----------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------- ----------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.5%
--------- ----------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------- ----------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
Alain Schreiber
--------- ----------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) | |
(b) |X|
--------- ----------------------------------------------------------------------
3. SEC USE ONLY
--------- ----------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
--------- ----------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
--------- ----------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
US
--------- ----------------------------------------------------------------------
NUMBER OF 7. SOLE DISPOSITIVE POWER
SHARES 0
-------- ------------------------------------------------------
BENEFICIALLY 8. SHARED DISPOSITIVE POWER
OWNED BY 1,855,275
--------- ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER
0
REPORTING --------- ------------------------------------------------------
10. SHARED DISPOSITIVE POWER
PERSON WITH
1,855,275
--------- ----------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,855,275
--------- ----------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|_|
--------- ----------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.3%
--------- ----------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
Item 1. Security and Issuer.
This Schedule 13D relates to the common stock $0.001 par value per
share ("Common Stock"), of Novacea, Inc., a Delaware corporation (the "Issuer").
The principal executive offices of the Issuer are located at 601 Gateway
Boulevard, Suite 800, South San Francisco, California 94080.
Item 2. Identity and Background.
(a)-(c) ProQuest Investments II, L.P. ("Investments II") is a Delaware
limited partnership with its principal office located at 90
Nassau Street, Fifth Floor, Princeton, New Jersey 08542.
ProQuest Investments II Advisors Funds, L.P. ("Advisors Fund") is
a Delaware limited partnership with its principal office located
at 90 Nassau Street, Fifth Floor, Princeton, New Jersey 08542.
ProQuest Associates II LLC ("Associates II") is a Delaware
limited liability company and the general partner of Investments
II and Advisors Fund, with its principal office located at 90
Nassau Street, Fifth Floor, Princeton, New Jersey 08542.
Jay Moorin ("Moorin") is an individual and Managing Member of
Associates II. The principal business address for Jay Moorin is
c/o ProQuest Investments, 90 Nassau Street, Fifth Floor,
Princeton, New Jersey 08542.
Alain Schreiber ("Schreiber") is an individual and Managing
Member of Associates II. The principal business address for Alain
Schreiber is c/o ProQuest Investments, 90 Nassau Street, Fifth
Floor, Princeton, New Jersey 08542.
(d)-(e) During the past five years, neither Investments II, Advisors
Fund, Associates II, Moorin, or Schreiber have (i) been convicted
in a criminal proceeding, excluding traffic violations or similar
misdemeanors or (ii) been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction as a
result of which they were or are subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws
or any violation with respect to such laws.
(f) Investments II and Advisors Fund are Delaware limited
partnerships. Associates II is a Delaware limited liability
company. Moorin is a United States citizen. Schreiber is a United
States resident alien.
Item 3. Source and Amount of Funds or Other Consideration.
The source of funds for the purchases of preferred stock and the
purchase of Common Stock was the working capital of Investments II and Advisors
Fund. No funds were required upon either the conversion of the preferred stock
into common stock or the grant of stock options.
Item 4. Purpose of Transaction.
The securities referred to in this Schedule have been acquired for
investment purposes and not with the purpose or effect of changing or
influencing control of the Issuer. Moorin is a member of the Issuer's Board of
Directors, but except as otherwise described in this statement, the Reporting
Persons do not have any present plans or proposals that relate to or would
result in: (i) the acquision by any person of additional securities of the
Issuer, or the disposition of securities of the Issuer, (ii) an extraordinary
corporate transaction, such as a merger, reorganization or liquidation,
involving the Issuer or any of its subsidiaries, (iii) a sale or transfer of a
material amount of assets of the Issuer or any of its subsidiaries, (iv) any
change in the present board of directors or management of the Issuer, including
any plans or proposals to change the number or term of directors or to fill any
existing vacancies on the board, (v) any material change in the present
capitalization or dividend policy of the Issuer, (vi) any other material change
in the Issuer's business or corporate structure, (vii) changes in the Issuer's
charter, by-laws or instruments corresponding thereto or other actions which may
impede the acquisition of control of the Issuer by any person, (viii) causing a
class of securities of the Issuer to be delisted from a national securities
exchange or to cease to be authorized to be quoted in an inter-dealer quotation
system of a registered national securities association, (ix) a class of equity
securities of the Issuer becoming eligible for termination of registration
pursuant to Section 12(g)(4) of the Exchange Act, or (x) any action similar to
any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
(a) The percentages herein are calculated based upon the 22,320,473
shares of Common Stock expected to be issued and outstanding as
of May 15, 2006 as reported on the Issuer's Form 424(b)(4) filed
with the Securities and Exchange Commission by the Issuer on May
11, 2006.
On May 15, 2006, (i) 279,364 shares of Series A-1 and Series A-2
Preferred Stock were converted into Common Stock, of which (a)
all may be deemed to be beneficially owned by Moorin, Schreiber
and Associates II and (b) 267,994 are owned by Investment II and
11,370 are owned by Advisors Fund; (ii) 435,539 shares of Series
B Preferred Stock were converted into Common Stock, of which (a)
all may be deemed to be beneficially owned by Moorin, Schreiber
and Associates II and (b) 417,813 are owned by Investments II and
17,726 are owned by Advisors Fund; and (iii) 476,393 shares of
Series C Preferred Stock were converted into Common Stock, of
which (a) all may be deemed to be beneficially owned by Moorin,
Schreiber and Associates II and
(b) 457,005 are owned by Investments II and 19,388 are owned by
Advisors Fund. All preferred stock was convertible on a 1-for-1
basis.
On May 15, 2006, in connection with the IPO, 384,615 shares of
Common Stock were purchased for $6.50 per shares, all of which
may be deemed to be beneficially owned by Moorin, Schreiber and
Associates II and of which 368,961 of which are owned by
Investments II and 15,654 are owned by Advisors Fund.
On May 9, 2006, stock options were granted to Moorin for 12,500
shares at an exercise price of $6.50 per share, which options are
immediately exercisable.
The percentage of shares beneficially owned by each reporting
person is as follows: (i) Investors II - 8.0%, (ii) Advisors Fund
- 0.3%, (iii) Associates II - 8.3%, (iv) Moorin - 8.5%, and (v)
Schreiber - 8.3%.
(b) Each of the Reporting Entities may be deemed to have shared
voting and dispositive power over the shares of Common Stock
reported as beneficially owned by such person, except that Moorin
has sole voting and dispositive power over 55,713 shares.
(c) No person identified in Item 2 hereof has effected any
transaction in shares of such Common Stock during the 60 days
preceding the date of this filing, except to the extent disclosed
herein.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
Other than as described herein, there are no contracts, arrangements,
understandings or relationships among the reporting persons, or between the
reporting persons and any other person, with respect to securities of the
issuer.
Item 7. Material to be filed as Exhibits.
24.1 Power of Attorney
99.2 Joint Filing Agreement
SIGNATURES
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.
May 23, 2006
PROQUEST INVESTMENTS II, L.P.
BY: PROQUEST ASSOCIATES II LLC, AS
GENERAL PARTNER
By: /s/ Pasquale DeAngelis
-----------------------------------
Pasquale DeAngelis, Managing Member
PROQUEST INVESTMENTS II ADVISORS FUND II, L.P.
BY: PROQUEST ASSOCIATES II LLC, AS
GENERAL PARTNER
By: /s/ Pasquale DeAngelis
-----------------------------------
Pasquale DeAngelis, Managing Member
PROQUEST ASSOCIATES II LLC
By: /s/ Pasquale DeAngelis
-----------------------------------
Pasquale DeAngelis, Managing Member
*
-----------------------------------
Jay Moorin, individually
*
-----------------------------------
Alain Schreiber, individually
*By: /s/ Pasquale DeAngelis
--------------------------------------------
Pasquale DeAngelis, Attorney-in-Fact
Power of attorney filed as an exhibit hereto
EXHIBIT NUMBER EXHIBIT DESCRIPTION
-------------- -------------------
24.1 Power of Attorney
99.2 Joint Filing Agreement
Dates Referenced Herein and Documents Incorporated By Reference
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