UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

(Amendment No. 1)

ALTUS PHARMACEUTICALS INC.

(Name of Issuer)

Common Stock, Par Value $0.01 Per Share
(Title of Class of Securities)

02216N105

December 31, 2008

CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED:

o Rule 13d-1(b)

þ Rule 13d-1(c)

o Rule 13d-1(d)

 

 

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ITEM 1(a).		NAME OF ISSUER:
		Altus Pharmaceuticals Inc. (the “Issuer”)

ITEM 1(b).		ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:
		640 Memorial Drive Cambridge, MA 02139

ITEM 2(a).		NAME OF PERSON FILING:
		This statement is being filed by the following persons:

	(i)		International Biotechnology Trust plc (“IBT”); and
	(ii)		SV Life Sciences Managers LLP (“Managers”).

IBT and Managers are sometimes individually referred to herein as a “Reporting Person” and collectively as the “Reporting Persons.”

ITEM 2(b).		ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
		Address for IBT: 31 Gresham Street London, EC2V 7QA United Kingdom
		Address for Managers: 71 Kingsway London, WC2B 6ST United Kingdom

ITEM 2(c).		CITIZENSHIP:
		IBT — United Kingdom Managers — United Kingdom

ITEM 2(d).		TITLE OF CLASS OF SECURITIES:
		Common Stock, par value $0.01 per share

ITEM 2(e).		CUSIP NUMBER:
		02216N105

ITEM 3.

Not applicable.

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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.
		For IBT and Managers:

	(a)		Amount beneficially owned: No shares of Common Stock
	(b)		Percent of class: 0.0%
	(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: -0-
	(iii)		Sole power to dispose or to direct the disposition of: -0-
	(iv)		Shared power to dispose or to direct the disposition of: -0-

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 persons have ceased to be the beneficial owners of more than 5 percent of the class of securities, check the following þ.

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.

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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.

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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.

		February 12, 2009
		Date
		INTERNATIONAL BIOTECHNOLOGY TRUST PLC
		/s/ Nick Coleman
		Signature
		Nick Coleman, Authorized Signatory
		Name/Title
		SV LIFE SCIENCES MANAGERS LLP
		/s/ Nick Coleman
		Signature
		Nick Coleman, Authorized Signatory
		Name/Title

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EXHIBIT INDEX

Exhibit 1.		Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended. *

* Filed with the Schedule 13G on October 14, 2008.