-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FKmjPt2mhg1g0iNsI0wL1qqG8VbbYkX8ZTkLRj3sTfdoctjgdqEDKDNDkEBVC7vK
 C8+jNOWAJbookaRJF+lGAg==

<SEC-DOCUMENT>0000950162-04-000446.txt : 20040402
<SEC-HEADER>0000950162-04-000446.hdr.sgml : 20040402
<ACCEPTANCE-DATETIME>20040402151948
ACCESSION NUMBER:		0000950162-04-000446
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040331
FILED AS OF DATE:		20040402

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TARGETED GENETICS CORP /WA/
		CENTRAL INDEX KEY:			0000921114
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				911549568
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1100 OLIVE WAY
		STREET 2:		STE 100
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		2066237612

	MAIL ADDRESS:	
		STREET 1:		1100 OLIVE WAY
		STREET 2:		STE 100
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ELAN CORP PLC
		CENTRAL INDEX KEY:			0000737572
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23930
		FILM NUMBER:		04713601

	BUSINESS ADDRESS:	
		STREET 1:		LINCOLN HOUSE
		STREET 2:		LINCOLN PLACE
		CITY:			DUBLIN 2
		STATE:			L2
		BUSINESS PHONE:		35317094000

	MAIL ADDRESS:	
		STREET 1:		LINCOLN HOUSE
		STREET 2:		LINCOLN PLACE
		CITY:			DUBLIN 2
		STATE:			L2
		ZIP:			00000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ELAN INTERNATIONAL SERVICES LTD
		CENTRAL INDEX KEY:			0001002782
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23930
		FILM NUMBER:		04713602

	BUSINESS ADDRESS:	
		STREET 1:		102 JAMES COURT FLATTS
		STREET 2:		SMITH PARISH FL 04
		CITY:			BERMUDA
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		4412929169
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tgenform4040204_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-03-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000921114</issuerCik>
        <issuerName>TARGETED GENETICS CORP /WA/</issuerName>
        <issuerTradingSymbol>TGEN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000737572</rptOwnerCik>
            <rptOwnerName>ELAN CORP PLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>LINCOLN HOUSE</rptOwnerStreet1>
            <rptOwnerStreet2>LINCOLN PLACE</rptOwnerStreet2>
            <rptOwnerCity>DUBLIN 2</rptOwnerCity>
            <rptOwnerState>L2</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>IRELAND</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001002782</rptOwnerCik>
            <rptOwnerName>ELAN INTERNATIONAL SERVICES LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>102 JAMES COURT FLATTS</rptOwnerStreet1>
            <rptOwnerStreet2>SMITH PARISH FL 04</rptOwnerStreet2>
            <rptOwnerCity>BERMUDA</rptOwnerCity>
            <rptOwnerState>D0</rptOwnerState>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-03-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4330000</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.32</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>12064882</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series B Convertible Exchangeable Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.32</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-03-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>12015</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>1988-08-08</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4993946</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These securities are or were beneficially owned indirectly by Elan Corporation, plc (&quot;Elan&quot;) and directly by its wholly-owned subsidiary, Elan International Services, Ltd. (&quot;EIS&quot;).</footnote>
        <footnote id="F2">On March 31, 2004, the Series B Convertible Exchangeable Preferred Stock and accrued and unpaid dividends thereon, was convertible into 4,993, 946 shares of Common Stock.  EIS waived its right to receive upon conversion any shares of Common Stock of the Series B Convertible Exchangeable Preferred Stock and accrued and unpaid dividends thereon in excess of 4,330,000 shares.</footnote>
        <footnote id="F3">Immediately</footnote>
        <footnote id="F4">Not Applicable</footnote>
    </footnotes>

    <remarks>Exhibit List
Exhibit 99-Joint Filer</remarks>

    <ownerSignature>
        <signatureName>/s/ William F. Daniel, Company Secretary, ELAN CORPORATION, PLC</signatureName>
        <signatureDate>2004-04-02</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>tgenform4ex99.txt
<DESCRIPTION>JOINT FILER INFORMATION
<TEXT>
                                                                      Exhibit 99

                      Joint Filer Information


Name:                      Elan International Services, Ltd.


Address:                   102 St. James Court
                           Flatts, Smiths FL 04
                           Bermuda


Designated Filer:          Elan Corporation, plc


Issuer & Ticker Symbol:    Targeted Genetics Corporation (TGEN)


Date of Earliest
Transaction Required
to be Reported:            3/31/04


Signature:                   /s/  Kevin Insley
                           Name:  Kevin Insley
                           Title:    President
                           ELAN INTERNATIONAL SERVICES, LTD.



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
