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 RULE 13d-2(b)
(Amendment No. 3) *
Cyclacel Pharmaceuticals, Inc.
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(Name of Issuer)
Common Stock, par value $0.001 per share
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(Title of Class of Securities)
23254L108
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(CUSIP Number)
March 11, 2008
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(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)
(Page 1 of 14 Pages)
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* 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).
13G Page 2 of 14
CUSIP No. 23254L108
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Deerfield Capital, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5. SOLE VOTING POWER
0
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NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 935,526
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
935,526
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
935,526
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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)
4.54%
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12. TYPE OF REPORTING PERSON*
PN
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13G Page 3 of 14
CUSIP No. 23254L108
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Deerfield Special Situations Fund, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 935,526
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
935,526
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
935,526
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.54%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
PN
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13G Page 4 of 14
CUSIP No. 23254L108
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Deerfield Management Company, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 1,682,124
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,682,124
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,682,124
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
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12. TYPE OF REPORTING PERSON*
PN
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13G Page 5 of 14
CUSIP No. 23254L108
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Deerfield Special Situations Fund International Limited
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 1,682,124
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,682,124
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,682,124
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
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12. TYPE OF REPORTING PERSON*
CO
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13G Page 6 of 14
CUSIP No. 23254L108
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
James E. Flynn
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 2,617,650
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
2,617,650
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,617,650
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.51%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
IN
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Page 7 of 14
CUSIP No. 23254L108
---------------------
Item 1(a). Name of Issuer:
Cyclacel Pharmaceuticals, Inc.
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Item 1(b). Address of Issuer's Principal Executive Offices:
200 Connell Drive, Suite 1500
Berkeley Heights, NJ 07922
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Item 2(a). Name of Person Filing:
James E. Flynn, Deerfield Capital, L.P., Deerfield Special
Situations Fund, L.P., Deerfield Management Company, L.P., Deerfield
Special Situations Fund International Limited
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Item 2(b). Address of Principal Business Office, or if None, Residence:
James E. Flynn, Deerfield Capital, L.P., Deerfield Special
Situations Fund, L.P., Deerfield Management Company, L.P., 780 Third
Avenue, 37th Floor, New York, NY 10017 Deerfield Special Situations
International Limited c/o Bisys Management, Bison Court, Columbus
Centre, P.O. Box 3460, Road Town, Tortola, British Virgin Islands
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Item 2(c). Citizenship:
Mr. Flynn - United States citizen
Deerfield Capital, L.P., and Deerfield Special Situations Fund, L.P.
- Delaware limited partnerships
Deerfield Management Company, L.P. - New York limited partnership
Deerfield Special Situations International Limited
- British Virgin Islands corporations
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Item 2(d). Title of Class of Securities:
Common Stock
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Item 2(e). CUSIP Number:
23254L108
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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 a:
(a) |_| Broker or dealer registered under Section 15 of the Exchange
Act.
(b) |_| Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) |_| Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) |_| Investment company registered under Section 8 of the Investment
Company Act.
(e) |_| An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) |_| An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) |_| A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) |_| A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) |_| A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Page 8 of 14
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
Deerfield Capital, L.P. - 935,526 shares (including 178,464 shares
underlying warrants)
Deerfield Special Situations Fund, L.P. - 935,526 shares (including
178,464 shares underlying warrants)
Deerfield Management Company, L.P. - 1,682,124 shares (including
312,608 shares underlying warrants)
Deerfield Special Situations International Limited - 1,682,124 shares
(including 312,608 shares underlying warrants)
James E. Flynn - 2,617,650 shares (including 491,072 shares underlying
warrants)
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(b) Percent of class:
Deerfield Capital, L.P. - 4.54%
Deerfield Special Situations Fund, L.P. - 4.54%
Deerfield Management Company, L.P. - 8.1%
Deerfield Special Situations International Limited - 8.1%
James E. Flynn - 12.51%
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 0
------------------,
(ii) Shared power to vote or to direct the vote Deerfield Capital,
L.P. - 935,526
Deerfield Special
Situations Fund,
L.P. - 935,526
Deerfield
Management Company,
L.P. - 1,682,124
Deerfield Special
Situations Fund
International
Limited - 1,682,124
James E. Flynn -
2,617,650
------------------
(iii) Sole power to dispose or to direct the
disposition of 0
------------------,
Page 9 of 14
(iv) Shared power to dispose or to direct the
disposition of Deerfield Capital,
L.P. - 935,526
Deerfield Special
Situations Fund,
L.P. - 935,526
Deerfield
Management Company,
L.P. - 1,682,124
Deerfield Special
Situations Fund
International
Limited - 1,682,124
James E. Flynn -
2,617,650
------------------.
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 |_|.
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Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
N/A
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Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.
N/A
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Page 10 of 14
Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to ss.240.13d-1(b)(1)(ii)(J),
so indicate under Item 3(j) and attach an exhibit stating the identity and Item
3 classification of each member of the group. If a group has filed this schedule
pursuant to ss.240.13d-1(c) or ss.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
See Exhibit B
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Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating
the date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
N/A
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Item 10. Certifications.
"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 such purpose or effect."
Page 11 of 14
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.
DEERFIELD CAPITAL, L.P.
By: J.E. Flynn Capital LLC,
General Partner
By: /s/ Darren Levine
--------------------------------------------------
Darren Levine, Attorney-In-Fact
DEERFIELD SPECIAL SITUATIONS FUND, L.P.
By: Deerfield Capital, L.P.
By: J.E. Flynn Capital LLC,
General Partner
By: /s/ Darren Levine
--------------------------------------------------
Darren Levine, Attorney-In-Fact
DEERFIELD MANAGEMENT COMPANY, L.P.
By: Flynn Management LLC
General Partner
By: /s/ Darren Levine
--------------------------------------------------
Darren Levine, Attorney-In-Fact
DEERFIELD SPECIAL SITUATIONS FUND INTERNATIONAL LIMITED
By: Deerfield Management Company
By: Flynn Management LLC,
General Partner
By: /s/ Darren Levine
--------------------------------------------------
Darren Levine, Attorney-In-Fact
JAMES E. FLYNN
/s/ Darren Levine
--------------------------------------------------
Darren Levine, Attorney-In-Fact
Date: March 14, 2008
Page 12 of 14
Exhibit List
Exhibit A . Joint Filing Agreement.
Exhibit B. Item 8 Statement.
Exhibit C (1). Power of Attorney.
(1) Previously filed as Exhibit 24 to a Form 4 with regard to PAR Pharmaceutical
Companies, Inc. filed with the Commission on February 1, 2007 by Deerfield
Capital L.P.; Deerfield Partners, L.P.; Deerfield Management Company, L.P.;
Deerfield International Limited; Deerfield Special Situations Fund, L.P.;
Deerfield Special Situations Fund International Limited; and James E. Flynn.
Page 13 of 14
Exhibit A
The undersigned agree that this Schedule 13G, and all amendments thereto,
relating to the Common Stock of Cyclacel Pharmaceuticals, Inc. shall be filed on
behalf of the undersigned.
DEERFIELD CAPITAL, L.P.
By: J.E. Flynn Capital LLC,
General Partner
By: /s/ James E. Flynn
-------------------------------------
James E. Flynn, Managing Member
DEERFIELD PARTNERS, L.P.
By: Deerfield Capital, L.P.
By: J.E. Flynn Capital LLC,
General Partner
By: /s/ James E. Flynn
-------------------------------------
James E. Flynn, Managing Member
DEERFIELD SPECIAL SITUATIONS FUND, L.P.
By: Deerfield Capital, L.P.
By: J.E. Flynn Capital LLC,
General Partner
By: /s/ James E. Flynn
-------------------------------------
James E. Flynn, Managing Member
DEERFIELD MANAGEMENT COMPANY
By: Flynn Management LLC
General Partner
By: /s/ James E. Flynn
-------------------------------------
James E. Flynn, Managing Member
DEERFIELD INTERNATIONAL LIMITED
By: Deerfield Management Company
By: Flynn Management LLC,
General Partner
By: /s/ James E. Flynn
-------------------------------------
James E. Flynn, Managing Member
DEERFIELD SPECIAL SITUATIONS FUND INTERNATIONAL LIMITED
By: Deerfield Management Company
By: Flynn Management LLC,
General Partner
By: /s/ James E. Flynn
-------------------------------------
James E. Flynn, Managing Member
JAMES E. FLYNN
/s/ James E. Flynn
-----------------------------------------
Page 14 of 14
Exhibit B
Due to the relationships between them, the reporting persons hereunder
that beneficially own shares of the Issuer may be deemed to constitute a "group"
with one another for purposes of Section 13(d)(3) of the Securities Exchange Act
of 1934.