OFFER TO PURCHASE FOR CASH ANY AND ALL OUTSTANDING UNITS OF LIMITED PARTNERSHIP INTEREST OF PAINEWEBBER R&D PARTNERS II, L.P. AT $3,650 NET PER UNIT BY BIOROYALTIES, L.L.C.Bioroyalties LLC • August 15th, 1997 • Services-commercial physical & biological research
August 15, 1997 OFFER TO PURCHASE AT $3,650 PER UNIT IN CASH Dear Limited Partner of PaineWebber R&D Partners II, L.P.: BioRoyalties, L.L.C., a Delaware limited liability company (the "Purchaser"), is offering to purchase from holders (each a...Bioroyalties LLC • August 15th, 1997 • Services-commercial physical & biological research
BioRoyalties, L.L.C., a Delaware limited liability company (the "Purchaser"), is offering to purchase from holders (each a "Holder") any and all of the 8,257 outstanding units of limited partnership interest (the "Units") in PaineWebber R&D Partners II, L.P. (the "Partnership") at a cash purchase price of $3,650 per Unit (the "Purchase Price"). The terms and conditions of the offer are set forth in the Offer to Purchase, which is enclosed with this letter. IT IS IMPORTANT THAT YOU READ THE ENCLOSED MATERIAL CAREFULLY IN ORDER TO EVALUATE THE OFFER.
