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                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549





                                    FORM 8-K


                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


  Date of Report (Date of earliest event reported): May 18, 2001 (May 16, 2001)


                          BioMarin Pharmaceutical Inc.
             (Exact name of registrant as specified in its charter)




      Delaware                   000-26727                68-0397820
(State or other jurisdiction   (Commission     (IRS Employer Identification No.)
 of incorporation)              File Number)

371 Bel Marin Keys Boulevard, Suite                           94949
             210                                            (Zip Code)
       Novato, California
(Address of principal executive
            offices)
                                 (415) 884-6700
                ------------------------------------------------
                 (Registrant's telephone number, including area
                                      code)











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Item 2.           Acquisition of Assets

Private Placement of Common Stock and Warrants for the Purchase of Common Stock

On May 16, 2001, we entered in to a Securities  Purchase  Agreement with a group
of institutional  investors,  including,  among others:  OrbiMed Advisors,  LLC;
Franklin  Resources  Inc.;  equity4life;   MPM  BioEquities  Fund;  and  Orbitex
Management  Inc.,  pursuant  to which,  we issued  and sold  these  entities  an
aggregate of 4,763,712  shares of our common stock,  at the negotiated  price of
$9.45 per share,  and, also, issued warrants to purchase an aggregate of 714,554
shares of our common stock.  The warrants  have an exercise  price of $13.10 per
share, a premium of approximately 20% over the closing price of the common stock
on the Nasdaq  National  Market on May 15, 2001, and terminate on the earlier of
three years from the date of issuance or the closing of a merger or  acquisition
which  results in a change of  control  of our  company.  On May 17,  2001,  we
entered into a separate  Securities  Purchase  Agreement with Biotech Value Plus
Ltd. pursuant to which we issued and sold Biotech Value Plus Ltd. 105,821 shares
of our common stock and issued  warrants to purchase 15,873 shares of our common
stock on the same terms and conditions as the May 16, 2001 agreement.

MPM Capital L.P. is the  investment  manager of BB  BioVentures  L.P., MPM Asset
Management 1998 Investors L.L.C.  and MPM BioVentures  Parallel Fund L.P., which
currently  hold 6.5% of our common stock in the aggregate,  and MPM  BioEquities
Master Fund LP, one of the purchasers in the placement.  As investment  manager,
MPM Capital L.P. is entitled to receive a performance  fee of 20% of the profits
from each fund. Ansbert Gadicke,  one of our directors,  is a general partner of
MPM Capital L.P and, as such, is indirectly entitled to a significant portion of
this  performance  fee. Erich Sager,  one of our  directors,  is on the board of
advisors of  equity4life,  one of the  investors in the  placement.  Through his
interest in the fund manager of equity4life, Mr. Sager is indirectly entitled to
3% of profits of equity4life.

All of the shares of common stock and warrants  were issued and sold pursuant to
an exemption from the registration requirements of the Securities Act of 1933 as
provided by Rule 506 of Regulation D promulgated  under the Securities Act. Each
of the purchasers  represented that it is an accredited investor,  as defined by
Rule 501 under the Securities Act and the  certificates  representing the shares
and warrants were appropriately legended to reflect the restrictions on transfer
imposed  by the  Securities  Act.  We are  required  to use our best  efforts to
register  all of the  shares of  common  stock  issued  pursuant  to both  these
transactions  and all of the  shares of common  stock  which may be issued  upon
exercise of warrants with the  Securities and Exchange  Commission  within sixty
(60) days of the closing of the placement.

In connection with these  transactions UBS Warburg LLC served as placement agent
and SCO Securities LLC provided us additional  financial advisory  services.  In
connection  with its  services,  we issued to SCO  Securities  LLC a warrant  to
purchase  22,000  shares of our common  stock at an exercise  price of $9.45 per
share.

After deduction of all expenses related to these  transactions,  we received net
proceeds of approximately $42.7 million. We intend to use these proceeds to fund
operating costs, capital expenditures and working capital needs, including costs
associated   with  the   regulatory   approval,   manufacturing   and  potential
commercialization of AldurazymeTM,  for our research and development activities,
including clinical trials, related to our pipeline products, including rhASB and
Vibriolysin and other general corporate  purposes.  Since we have not identified
the  amounts  we plan to  spend on each of these  items  or the  timing  of such
expenditures,  our management will have significant flexibility in applying such
proceeds.

See the two Securities  Purchase Agreements attached hereto as Exhibits 10.1 and
10.2.

Item 7.               Financial Statements and Exhibits

EXHIBIT NO.  DESCRIPTION OF DOCUMENT
----------- --------------------------------------------------------------------
10.1        Securities  Purchase Agreement between BioMarin  Pharmaceutical Inc.
            and the investors named therein, dated May 16, 2001
10.2        Securities  Purchase  Agreement  between  BioMarin  Pharmaceutical
            Inc. and Biotech Value Plus Ltd., dated May 17, 2001
99.1        Press Release Dated May 17, 2001 related to May 16, 2001 transaction








                                   SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.


                                            BioMarin Pharmaceutical Inc.


                                            By: /s/ Fredric D. Price
                                                --------------------------------
                                                     Fredric D. Price
                                                     Chairman and Chief
                                                     Executive Officer



Date:  May 18, 2001

                                  Exhibit Index

EXHIBIT NO.  DESCRIPTION OF DOCUMENT
----------- --------------------------------------------------------------------
10.1        Securities  Purchase Agreement between BioMarin  Pharmaceutical Inc.
            and the investors named therein, dated May 16, 2001
10.2        Securities  Purchase  Agreement  between  BioMarin  Pharmaceutical
            Inc. and Biotech Value Plus Ltd., dated May 17, 2001
99.1        Press Release Dated May 17, 2001 related to May 16, 2001 transaction