Forward Ventures III Institutional Partners LP

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Forward Ventures III LP

(Last)

(First)

(Middle)

9393 TOWNE CENTRE DRIVE, SUITE 200

(Street)

SAN DIEGO,

92121

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/02/2005

3. Issuer Name and Ticker or Trading Symbol
FAVRILLE INC [ FVRL ]

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

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

5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	108,432	I	See⁽¹⁾⁽⁶⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A Convertible Preferred Stock	⁽²⁾	⁽¹⁰⁾	Common Stock	481,926	⁽³⁾	I	See Footnotes⁽⁴⁾⁽⁸⁾
Series B Convertible Preferred Stock	⁽²⁾	⁽¹⁰⁾	Common Stock	593,737	⁽³⁾	I	See Footnotes⁽⁵⁾⁽⁸⁾
Series B-2 Convertible Preferred Stock	⁽²⁾	⁽¹⁰⁾	Common Stock	467,829	⁽³⁾	I	See Footnotes⁽⁶⁾⁽⁸⁾
Series C Convertible Preferred Stock	⁽²⁾	⁽¹⁰⁾	Common Stock	836,964	⁽⁹⁾	I	See Footnotes⁽⁷⁾⁽⁸⁾

1. Name and Address of Reporting Person^*

Forward Ventures III LP

(Last)

(First)

(Middle)

9393 TOWNE CENTRE DRIVE, SUITE 200

(Street)

SAN DIEGO,

92121

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

FORWARD III ASSOCIATES LLC

(Last)

(First)

(Middle)

9393 TOWNE CENTRE DRIVE, SUITE 200

(Street)

SAN DIEGO,

92121

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Forward Ventures III Institutional Partners LP

(Last)

(First)

(Middle)

9393 TOWNE CENTRE DRIVE, SUITE 200

(Street)

SAN DIEGO,

92121

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

FORWARD IV ASSOCIATES LLC

(Last)

(First)

(Middle)

9393 TOWNE CENTRE DRIVE, SUITE 200

(Street)

SAN DIEGO,

92121

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

FORWARD VENTURES IV LP

(Last)

(First)

(Middle)

9393 TOWNE CENTRE DRIVE, SUITE 200

(Street)

SAN DIEGO,

92121

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

FORWARD VENTURES IV B LP

(Last)

(First)

(Middle)

9393 TOWNE CENTRE DRIVE, SUITE 200

(Street)

SAN DIEGO,

92121

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

FLEMING STANDISH

(Last)

(First)

(Middle)

9393 TOWNE CENTRE DRIVE, SUITE 200

(Street)

SAN DIEGO,

92121

(City)

(State)

(Zip)

Explanation of Responses:

1. The shares are held of record as follows: 22,651 shares by Forward Ventures III, L.P. ("FV III") and 85,781 shares by Forward Ventures III Institutional Partners, L.P. ("Institutional").

2. Immediately.

3. 1 for 1

4. The shares are held of record as follows: 20,134 shares by FV III, 76,250 shares by Institutional, 355,412 shares by Forward Ventures IV, L.P. ("FV IV") and 30,130 shares by Forward Ventures IV B, L.P. ("FV IV B").

5. The shares are held of record as follows: 19,804 shares by FV III, 75,000 shares by Institutional, 459,942 shares by FV IV and 38,991 shares by FV IV B.

6. The shares are held of record as follows: 24,729 shares by FV III, 93,650 shares by Institutional, 322,141 shares by FV IV and 27,309 shares by FV IV B.

7. The shares are held of record as follows: 11,672 shares by FV III, 44,203 shares by Institutional, 720,047 shares by FV IV and 61,042 shares by FV IV B.

8. Standish M. Fleming and Ivor Royston are the Managing Members of (a) Forward III Associates, LLC , the general partner of FV III LP and Institutional, and (b) Forward IV Associates, LLC, the general partner of FV IV LP and FV IV B.

9. 1.086614 for 1

10. Not applicable.

	/s/ Ivor Royston, M.D.	02/02/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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