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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G
(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c), AND (d) AND AMENDENTS THERETO FILED PURSUANT TO RULE 13D-2

Under the Securities Exchange Act of 1934
(Amendment No. ___)*

Infinity Pharmaceuticals, Inc.
(Name of Issuer)
COMMON STOCK, par value $0.001 per share
(Title of Class of Securities)
45665G 30 3
(CUSIP Number)
December 31, 2006
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     o Rule 13d-1(c)

     þ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

 

                     
CUSIP No.
  
45665G 30 3 
   Page  
2 
   of   
8 

 

           
1   NAMES OF REPORTING PERSONS:
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
    Novartis Pharma AG
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   o
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Switzerland
       
  5   SOLE VOTING POWER:
     
NUMBER OF   N/A
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   1,134,809
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   N/A
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    1,134,809
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,134,809
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  5.8%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  CO

Page 2 of 8

 

                     
CUSIP No.
  
45665G 30 3 
   Page  
3 
   of   
8 

 

           
1   NAMES OF REPORTING PERSONS:
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
    Novartis AG
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   o
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Switzerland
       
  5   SOLE VOTING POWER:
     
NUMBER OF   N/A
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   1,434,478
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   N/A
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    1,434,478
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  1,434,478
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  7.4%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  CO

Page 3 of 8

 

     
Item 1(a)               Name of Issuer
 
    
 
  Infinity Pharmaceuticals, Inc.
 
    
Item 1(b)               Address of Issuer’s Principal Executive Office
 
    
 
  780 Memorial Drive
 
  Cambridge, MA 02139
 
    
Item 2(a)               Name of Person Filing
 
    
 
  Novartis AG
 
  Novartis Pharma AG
 
    
Item 2(b)               Address of Principal Business Office or, if none, Residence
 
    
 
  The address of the principal offices of Novartis AG and Novartis Pharma AG is:
 
 
  Lichtstrasse 35
 
  CH-4002
 
  Basel Switzerland
 
    
Item 2(c)               Citizenship
 
    
 
  Novartis AG and Novartis Pharma AG are corporations organized under the laws of Switzerland
 
    
Item 2(d)               Title of Class of Securities
 
    
 
  Common Stock, par value $0.001 per share
 
    
Item 2(e)               CUSIP Number
 
    
 
  45665G 30 3
         
Item 3                    If this statement is filed pursuant to §§240.13d-1(b) or 240.13-2(b) or (c), check whether the person filing is a:
 
        
 
  (a) o   Broker or Dealer registered under Section 15 of the Act (15 U.S.C.78o)
 
        
 
  (b) o   Bank as defined in Section 3(a)(6) of the Act (15 U.S.C.78c)
 
        
 
  (c) o   Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C.78c)
 
        
 
  (d) o   Investment Company registered under Section 8 of the Investment Company Act of 1940 (U.S.C.80a-8)
 
        
 
  (e) o   An Investment Adviser in accordance with §240.13-1(b)(1)(ii)(E)

Page 4 of 8

 

         
 
        
 
  (f) o   An Employee Benefit Plan or Endowment Fund in accordance with §240.13d-1(b)(1)(ii)(F)
 
        
 
  (g) o   A Parent Holding Company or Control Person in accordance with §240.13d-1(b)(1)(ii)G)
 
        
 
  (h) o   A Savings Association as defined in Section 3(b) of the federal Deposit Insurance Act (U.S.C. 1813)
 
        
 
  (i) o   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 (15 U.S.C. 80a-3)
 
        
 
  (j) o   Group, in accordance with §240.13d-1(b)(1)(ii)(J)

                     
Item 4                   Ownership
 
                    
(a)   Amount beneficially owned   1,434,478 (1)    
 
                    
(b)   Percent of class     7.4 %    
 
                    
(c)   No. of shares to which person has            
 
                    
 
  (i)   sole power to vote or direct the vote     N/A      
 
                    
 
  (ii)   shared power to vote or direct the vote   1,434,478 (1)    
 
                    
 
  (iii)   sole power to dispose or to direct disposition     N/A      
 
                    
 
  (iv)   shared power to dispose or to direct disposition   1,434,478 (1)    
     
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:
 
    
 
  o
 
    
Item 6                   Ownership of More than Five Percent on Behalf of Another Person
 
    
 
  Not Applicable
 
    (1) Novartis Pharma AG is the record and beneficial owner of 1,134,809 shares of Common Stock. Novartis AG, as parent of Novartis Pharma AG, is the indirect beneficial owner of such 1,134,809 shares of Common Stock. Novartis AG is also the indirect beneficial owner of 299,669 shares of Common Stock owned of record and beneficially by Novartis Bioventures Ltd., a wholly owned subsidiary of Novartis AG.

Page 5 of 8

 

     
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.
 
    
Item 10                 Certification
 
    
 
  Not Applicable.

Page 6 of 8

 

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.
Dated: February 14, 2007
         
  Novartis AG
 		  
  By:   /s/ Peter Rupprecht   
    Name:   Peter Rupprecht   
    Title:   Authorized Signatory   
 
         
     
  By:   /s/ Jorg Walther   
    Name:   Jorg Walther   
    Title:   Authorized Signatory   
 
         
  Novartis Pharma AG
 		  
  By:   /s/ Joseph Mamie   
    Name:   Joseph Mamie   
    Title:   Head Operational Treasury   
 
         
     
  By:   /s/ B. Zulauf   
    Name:   B. Zulauf   
    Title:   Authorized Signatory   

Page 7 of 8

 

         
EXHIBIT 1
Joint Filing Agreement
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the persons named below agrees to the joint filing of a Statement on Schedule 13G (including amendments thereto) with respect to the Common Stock of Infinity Pharmaceuticals, Inc., a Delaware corporation.
Dated: February 14, 2007
         
  Novartis AG
 		  
  By:   /s/ Peter Rupprecht   
    Name:   Peter Rupprecht   
    Title:   Authorized Signatory   
 
         
     
  By:   /s/ Jorg Walther   
    Name:   Jorg Walther   
    Title:   Authorized Signatory   
 
         
  Novartis Pharma AG
 		  
  By:   /s/ Joseph Mamie   
    Name:   Joseph Mamie   
    Title:   Head Operational Treasury   
 
         
     
  By:   /s/ B. Zulauf   
    Name:   B. Zulauf   
    Title:   Authorized Signatory   
 

Page 8 of 8