CUSIP
No.
45168K108
|
|
1
|
NAMES
OF REPORTING PERSONS
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Felix
J. Baker
|
2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
¨
(b)
x
|
3
|
SEC
USE ONLY
|
4
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE
VOTING POWER
-0-
|
6
|
SHARED
VOTING POWER
3,560,247
|
7
|
SOLE
DISPOSITIVE POWER
-0-
|
8
|
SHARED
DISPOSITIVE POWER
3,560,247
|
9
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,560,247
|
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
15.5%
|
12
|
TYPE
OF REPORTING PERSON (See Instructions)
IN
|
CUSIP
No.
45168K108
|
|
1
|
NAMES
OF REPORTING PERSONS
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Julian
C. Baker
|
2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a)
¨
(b)
x
|
3
|
SEC
USE ONLY
|
4
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE
VOTING POWER
-0-
|
6
|
SHARED
VOTING POWER
3,560,247
|
7
|
SOLE
DISPOSITIVE POWER
-0-
|
8
|
SHARED
DISPOSITIVE POWER
3,560,247
|
9
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,560,247
|
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
15.5%
|
12
|
TYPE
OF REPORTING PERSON (See Instructions)
IN
|
Item
1(a)
Name
of Issuer:
Idera
Pharmaceuticals Inc.
Item
1(b)
Address
of Issuer’s Principal Executive Offices:
345
Vassar Street
Cambridge
MA 02139
Item
2(a)
Name
of Person Filing:
This
Schedule 13G is being filed jointly by Felix J. Baker and Julian C. Baker (the
“Reporting Persons”).
Item
2(b)
Address
of Principal Business Office or, if None, Residence:
Name
|
Business
Address
|
|
|
Felix
J. Baker
|
667
Madison Avenue
New
York, NY 10065
|
Julian
C. Baker
|
667
Madison Avenue
New
York, NY 10065
|
Item
2(c)
Citizenship:
Each
of
the Reporting Persons is a United States citizen.
Item
2(d)
Title
of Class of Securities:
Common
Stock, par value $0.001 per share
Item
2(e)
CUSIP
Number:
45168K108
Item
3.
|
If
this statement is filed pursuant to §§240.13d-1(b) or (c), check whether
the person filing is a:
N/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
of
1940.
(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 of 1940.
(j)
[ ]
Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item
4.
Ownership.
Set
forth
below is the aggregate number of shares of Common Stock held, including shares
that maybe acquired upon the exercise of Warrants, as of the date hereof by
each
of the following, together with the percentage of outstanding shares of Common
Stock that such number represents based upon
23,039,949
shares
outstanding as reported in the Company’s Form 10Q filed on August 1, 2007. Such
percentage figures are calculated on the basis that the Warrants owned by the
Reporting Persons are deemed exercised for shares of Common Stock but other
outstanding Warrants are not deemed converted or exercised.
Name
|
Number
of Shares
|
Percent
of Class
Outstanding
|
Baker
Bros. Investments, L.P.
|
110,204
|
0.5%
|
Baker
Bros. Investments II, L.P.
|
99,594
|
0.4%
|
Baker
Biotech Fund I, L.P
|
1,094,693
|
4.8%
|
Baker
Brothers Life Sciences, L.P.
|
2,188,393
|
9.5%
|
14159,
L.P.
|
67,363
|
0.3%
|
|
|
|
Total
|
3,560,247
|
15.5%
|
By
virtue
of their ownership of entities that have the power to control the investment
decisions of the limited partnerships listed in the table above, Felix J. Baker
and Julian C. Baker may each be deemed to be beneficial owners of shares owned
by such entities and may be deemed to have shared power to vote or direct the
vote of and shared power to dispose or direct the disposition of such
securities.
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 [ ]. N/A
Item
6.
Ownership
of More than Five Percent on Behalf of Another Person.
The
entities listed in Item 4 above are investment funds the investors in which
have
the right to receive dividends, interest and the proceeds of sale of securities
owned by such funds.
Item
7.
Identification
and Classification of the Subsidiary Which Acquired the Security Being Reported
on by the Parent Holding Company or Control Person.
N/A
Item
8.
Identification
and Classification of Members of the Group.
N/A
Item
9.
Notice
of Dissolution of Group.
N/A
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.
SIGNATURE
After
reasonable inquiry and to the best of my knowledge and belief, I hereby certify
that the information set forth in this statement is true, complete and
correct.
November
9, 2007
/s/
Felix J. Baker
|
Felix
J. Baker
|
|
|
/s/
Julian C. Baker
|
Julian
C. Baker
|
|
AGREEMENT
In
accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree that this Statement on
Schedule 13G relating to the Common Stock of Idera Pharmaceuticals Inc. is
being filed with the Securities and Exchange Commission on behalf of each of
them.
November
9, 2007
/s/
Felix J. Baker
|
Felix
J. Baker
|
|
|
/s/
Julian C. Baker
|
Julian
C. Baker
|
|