Edgar Filing: STEINMETZ MICHAEL

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

BB BIOVENTURES L P

2. Issuer Name and Ticker or Trading Symbol
Pharmasset Inc [VRUS]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

C/O MPM ASSET MANAGEMENT, 200 CLARENDON STREET, 54TH FLOOR

3. Date of Earliest Transaction (Month/Day/Year)
02/07/2008

(Street)

BOSTON, MA 02116

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/07/2008		S		36,664 ⁽¹⁾	D	$ 23.02	2,587,168	I	See Footnote ⁽²⁾
Common Stock								57,353	I	See Footnote ⁽³⁾
Common Stock	02/08/2008		S		27,925	D	$ 21.36	0	I	See Footnote ⁽⁴⁾
Common Stock								35,558	I	See Footnote ⁽⁵⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
BB BIOVENTURES L P C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
BAB BIO VENTURES LLP C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
BAB BIO VENTURES NV C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
MPM ASSET MANAGEMENT INVESTORS 1999 LLC C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
MPM BIOVENTURES PARALLEL FUND L P C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
MPM BIOVENTURES I LP C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
MPM BIO VENTURES I LLC C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
EVNIN LUKE C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
STEINMETZ MICHAEL C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X
GADICKE ANSBERT C/O MPM ASSET MANAGEMENT 200 CLARENDON STREET, 54TH FLOOR BOSTON, MA 02116		X

Signatures

By Ansbert Gadicke, managing director of BAB BioVentures NV, the general partner of BAB BioVentures L.P., the general partner of BB BioVentures L.P. /s/ Ansbert Gadicke		02/11/2008
^**Signature of Reporting Person		Date
By Ansbert Gadicke, managing director of BAB BioVentures NV, the general partner of BAB BioVentures L.P. /s/ Ansbert Gadicke		02/11/2008
^**Signature of Reporting Person		Date
By Ansbert Gadicke, managing director of BAB BioVentures NV /s/ Ansbert Gadicke		02/11/2008
^**Signature of Reporting Person		Date
By Luke Evnin, manager of MPM Asset Management Investors 1999 LLC /s/ Luke Evnin		02/11/2008
^**Signature of Reporting Person		Date
By Luke Evnin, manager of MPM BioVentures I LLC, the general partner of MPM BioVentures I L.P., the general partner of MPM BioVentures Parallel Fund, L.P. /s/ Luke Evnin		02/11/2008
^**Signature of Reporting Person		Date
By Luke Evnin, manager of MPM BioVentures I LLC, the general partner of MPM BioVentures I L.P. /s/ Luke Evnin		02/11/2008
^**Signature of Reporting Person		Date
By Luke Evnin, manager of MPM BioVentures I LLC /s/ Luke Evnin		02/11/2008
^**Signature of Reporting Person		Date
/s/ Luke Evnin		02/11/2008
^**Signature of Reporting Person		Date
/s/ Michael Steinmetz		02/11/2008
^**Signature of Reporting Person		Date
/s/ Ansbert Gadicke		02/11/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These shares were sold as follows: 16,755 shares by BB BioVentures, L.P. ("BBBV"), 2,259 shares by MPM BioVentures Parallel Fund, L.P. ("BV PF"), 200 shares by MPM Asset Management Investors 1999 LLC ("AM 1999"), 973 shares by MPM BioVentures III, L.P., ("BV III"), 14,473 shares by MPM BioVentures III-QP, L.P. ("BV III QP"), 1,223 shares held by MPM BioVentures III GmbH & Co. Beteiligungs KG ("BV KG"), 437 shares by MPM BioVentures III Parallel Fund, L.P. ("BV III PF") and 344 shares held by MPM Asset Management Investors 2004 BVIII LLC ("AM BV III"). MPM BioVentures I, L.P. ("BV I") and MPM BioVentures I LLC ("BV I LLC") are the direct and indirect general partners of BV PF. BAB BioVentures L.P. ("BAB BV"), BAB BioVentures, N.V. ("BAB NV") and BV I LLC are the direct and indirect general partners of BBBV. Luke Evnin, Michael Steinmetz and Ansbert Gadicke are the managers of AM 1999 and BV I LLC. MPM BioVentures III GP, L.P. ("BV III GP") and MPM BioVentures III LLC ("BV III LLC") are the direct and indirect general partners of BV III, BV III QP, BV III PF and BV KG. Luke Evnin, Michael Steinmetz and Ansbert Gadicke are members of BV III LLC and AM BV III. Each Reporting Person disclaims beneficial ownership of all such shares except to the extent of their respective proportionate pecuniary interests therein.
(2)	The shares are held as follows: 1,182,339 by BBBV, 159,391 by BV PF, 14,099 by AM 1999, 68,671 by BV III, 1,021,244 by BV III QP, 86,303 by BV KG, 30,844 by BV III PF and 24,277 by AM BV III. Each Reporting Person disclaims beneficial ownership of the securities except to the extent of their respective proportionate pecuniary interest therein.
(3)	The shares are held by Luke Evnin.
(4)	The shares were held by Michael Steinmetz.
(5)	The shares are held as follows: 29,369 by Ansbert Gadicke and 6,189 by The Gadicke Irrevocable Trust, of which Mr. Gadicke is a trustee. The Reporting Person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein.

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