UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G/A
(Amendment No.2)
Under the Securities Exchange Act of 1934
Cell Therapeutics, Inc
Common Stock, no par value per share
(Title of Class of Securities)
February 12, 2002
(CUSIP Number: 150934107)
December 31, 2001
Date of event which requires filing
Check the appropriate box to designate the rule pursuant to which the 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
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be filled 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
to Schedule 13G).
CUSIP No. 150934107 13G Page 2 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paramount Capital Asset Management, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
None
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,903,981
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,903,981
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,903,981
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.4%
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12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 150934107 13G Page 3 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Aries Domestic Fund, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
None
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 510,095
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
510,095
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
510,095
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.46%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 150934107 13G Page 4 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Aries Domestic Fund II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
None
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 129,186
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
129,186
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
129,186
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.4%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 150934107 13G Page 5 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Aries Master Fund II
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
None
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,264,700
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,264,700
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,264,700
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.6%
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12 TYPE OF REPORTING PERSON*
OO (see Item 2)
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*SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 150934107 13G Page 6 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lindsay A. Rosenwald, M.D.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
1,579,510
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,903,981
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,579,510
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,903,981
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,518,491
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.9%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
ITEM 1(a). NAME OF ISSUER:
Cell Therapeutics, Inc.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
201 ELLIOTT AVE W, STE 400
SEATTLE, WA 98119
PHONE: 206-270-7100
ITEM 2(a) NAME OF PERSON FILING:
This statement is filed on behalf of Paramount Capital Asset Management,
Inc. ("Paramount Capital"), Aries Domestic Fund, L.P. ("Aries Domestic"),
Aries Domestic Fund II, L.P. ("Aries II"), Aries Master Fund II, a Cayman
Island exempted company ("Aries Fund") and Lindsay A. Rosenwald, M.D.
("Dr. Rosenwald" and collectively, "Reporting Parties"). See attached
Exhibit A which is a copy of their agreement in writing to file this
statement on behalf of each of them.
Dr. Rosenwald is an investment banker, venture capitalist, fund manager
and sole stockholder of Paramount Capital, (1) a Subchapter S corporation
incorporated in Delaware. Paramount Capital is the General Partner to each
of Aries Domestic, (2) and Aries Domestic II, limited partnerships
incorporated in Delaware. Paramount Capital is the Investment Manager to
Aries Fund, (3) a Cayman Islands exempted company.
Dr. Rosenwald, Paramount Capital, Aries Domestic, Aries II and Aries Fund
and their respective officers, directors, general partners, investment
managers, or trustees have not, during the five years prior to the date
hereof, been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
Paramount Capital's, Aries Domestic's, Aries II's, and Dr. Rosenwald's
business address is 787 Seventh Avenue, 48th Floor, New York, New York,
10019. The business address for The Aries Fund is c/o Fortis Fund Services
Cayman Limited, Grand Pavilion Commercial Center, 802 West Bay Road, Grand
Cayman, Cayman Islands.
ITEM 2(c). CITIZENSHIP:
Dr. Rosenwald is a citizen of the United States of America.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
----------
1 Please see attached Exhibit B indicating the executive officers and
directors of Paramount Capital and providing information called for by
Items 2-6 of this statement as to said officers and directors. Exhibit B
is herein incorporated by reference.
2 Please see attached Exhibit C indicating the general partner to each of
Aries Domestic and Aries II and the general partner's executive officers
and directors and providing information called for by Items 2-6 of this
statement as to said general partners, officers and directors. Exhibit C
is herein incorporated by reference.
3 Please see attached Exhibit D indicating the investment manager of the
Aries Fund and the investment manager's executive officers and directors
and providing information called for by Items 2-6 of this statement as to
said investment manager and officers and directors. Exhibit D is herein
incorporated by reference.
7
Common Stock, no par value per share.
ITEM 2(e). CUSIP NUMBER: 150934107
ITEM 3. [X] CHECK THIS BOX IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(c)
ITEM 4. OWNERSHIP
For information concerning the ownership of Common Stock of the Company by
the Reporting Persons, see Items 5 through 9 and 11 of the cover pages to
this schedule 13G and footnotes thereto.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable
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
Not Applicable
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 a transaction having that purpose
and effect.
Material to be Filed as Exhibits:
Exhibit A - Copy of an Agreement between Dr. Rosenwald, Paramount Capital, Aries
Domestic, Aries II and Aries Fund to file this Statement on Schedule
13G on behalf of each of them.
Exhibit B - List of executive officers and directors of Paramount Capital and
information called for by Items 2-6 of this statement relating to
said officers and directors.
Exhibit C - List of executive officers and directors of Aries Domestic and Aries
II and information called for by Items 2-6 of this statement
relating to said officers and directors.
Exhibit D - List of executive officers and directors of Aries Fund and
information called for by Items 2-6 of this statement relating to
said officers and directors.
8
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.
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chief Executive Officer
ARIES DOMESTIC FUND, L.P.
By Paramount Capital Asset Management, Inc.,
General Partner
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chief Executive Officer
ARIES DOMESTIC FUND, II L.P.
By Paramount Capital Asset Management, Inc.,
General Partner
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chief Executive Officer
THE ARIES MASTER FUND II
By Paramount Capital Asset Management, Inc.
Investment Manager
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chief Executive Officer
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
9
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13G
The undersigned hereby agrees to jointly prepare and file with regulatory
authorities a Schedule 13G and any future amendments thereto reporting each of
the undersigned's ownership of securities of Cell Therapeutics, Inc. and hereby
affirm that such Schedule 13G is being filed on behalf of each of the
undersigned.
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chief Executive Officer
ARIES DOMESTIC FUND, L.P.
By Paramount Capital Asset Management, Inc.,
General Partner
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chief Executive Officer
ARIES DOMESTIC FUND, II L.P.
By Paramount Capital Asset Management, Inc.,
General Partner
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chief Executive Officer
THE ARIES MASTER FUND II
By Paramount Capital Asset Management, Inc.
Investment Manager
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chief Executive Officer
Dated: February 12, 2002 By: /s/ Lindsay A. Rosenwald, M.D.
New York, NY -----------------------------------------
Name: Lindsay A. Rosenwald, M.D.
10
EXHIBIT B
The name and principal occupation or employment, which in each instance is with
Paramount Capital Asset Management, Inc. ("Paramount Capital") located at 787
Seventh Avenue, 48th Floor, New York, New York, 10019, of each executive officer
and director of Paramount Capital is as follows:
NAME PRINCIPAL OCCUPATION OR
EMPLOYMENT
Lindsay A. Rosenwald, M.D. Chairman of the Board and sole shareholder,
Paramount Capital Asset Management, Inc.,
Paramount Capital Investments LLC and
Paramount Capital, Inc.
Mark C. Rogers, M.D. President of Paramount Capital Asset
Management, Inc., Paramount Capital
Investments, LLC, and Paramount Capital, Inc.
Peter Morgan Kash Director of Paramount Capital Asset
Management, Inc., Senior Managing Director,
Paramount Capital, Inc.
Dr. Yuichi Iwaki Director of Paramount Capital Asset
Management, Inc., Professor, University of
Southern California School of Medicine
Item 2.
During the five years prior to the date hereof, the above person (to the best of
Paramount Capital's knowledge) has not been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors). Additionally, during the
five years prior to the date hereof, the above person (to the best of Paramount
Capital's knowledge) has not been 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 or finding any violation with respect to such laws.
Items 3-6.
Please refer to Items 3-6 herein reporting the beneficial ownership.
11
EXHIBIT C
The name and principal occupation or employment of the General Partner of Aries
Domestic and Aries II, which are located at 787 Seventh Avenue, 48th Floor, New
York, New York, 10019, is as follows:
NAME PRINCIPAL OCCUPATION OR EMPLOYMENT
Paramount Capital Asset Management, Inc General Partner
Exhibit B is hereby incorporated by reference.
Item 2.
During the five years prior to the date hereof, the above person (to the best of
Aries Domestic's and Aries II's knowledge) has not been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors). Additionally,
during the five years prior to the date hereof, the above person (to the best of
Aries Domestic's and Aries II's knowledge) has not been 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 or finding any violation with
respect to such laws.
Items 3-6.
Please refer to Items 3-6 herein reporting the beneficial ownership.
12
EXHIBIT D
The name and principal occupation or employment, which in the case of Paramount
Capital Asset Management, Inc. is located at 787 Seventh Avenue, 48th Floor, New
York, New York, 10019, of each executive officer and director of Aries Fund is
as follows:
PRINCIPAL OCCUPATION NAME
OR EMPLOYMENT
Paramount Capital Asset Management, Inc. Investment Manager
Fortis Fund Services Cayman Limited Administrator
Grand Pavilion Commercial Center
802 West Bay Road
Grand Cayman, Cayman Islands
Exhibit B is hereby incorporated by reference.
Item 2.
During the five years prior to the date hereof, the above person (to the best of
Aries Fund's knowledge) has not been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors). Additionally, during the
five years prior to the date hereof, the above person (to the best of Aries
Fund's knowledge) has not been 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 or finding any violation with respect to such laws.
Items 3-6.
Please refer to Items 3-6 herein reporting the beneficial ownership.
13