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

                              FORM 10-Q

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

               For the quarterly period ended September 30, 2002

                                    OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

            For the transition period from N/A to N/A
                                           ---    ---

                      Commission File No. 814-124

                TECHNOLOGY FUNDING MEDICAL PARTNERS I, L.P.
                -------------------------------------------
            (Exact name of Registrant as specified in its charter)

          Delaware                            94-3166762
-------------------------------     ---------------------------------
(State or other jurisdiction of    (I.R.S. Employer Identification No.)
incorporation or organization)

1107 Investment Blvd., Suite 180
Eldorado Hills, California                                      95762
---------------------------------------                       --------
(Address of principal executive offices)                     (Zip Code)

                              (916) 941-1400
             --------------------------------------------------
            (Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:  None
Securities registered pursuant to Section 12(g) of the Act:  Limited
Partnership Units

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes X  No
                                                             ---   ---

No active market for the units of limited partnership interests
("Units") exists, and therefore the fair value of such Units cannot be
determined.

Forward-Looking Statements
--------------------------

The Private Securities Litigation Reform Act of 1995 (the Act) provides
a safe harbor for forward-looking statements made by or on behalf of the
Partnership.  The Partnership and its representatives may from time to
time make written or oral statements that are "forward-looking",
including statements contained in this report and other filings with the
Securities and Exchange Commission, and reports to the Partnership's
shareholders and news releases.  All statements that express
expectations, estimates, forecasts and projections are forward-looking
statements within the meaning of the Act.  In addition, other written or
oral statements which constitute forward-looking statements may be made
by or on behalf of the Partnership.  Words such as "expects",
"anticipates", "intends", "plans", "believes", "seeks", "estimates",
"projects", "forecasts", "may", "should", variations of such words and
similar expressions are intended to identify such forward-looking
statements.  These statements are not guarantees of future performance
and involve certain risks, uncertainties and assumptions which are
difficult to predict.  Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in or suggested by such
forward-looking statements.  The Partnership undertakes no obligation to
update publicly any forward-looking statements, whether as a result of
new information, future events or otherwise.



<PAGE>

I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

BALANCE SHEETS
--------------
<TABLE>
<CAPTION>
                                      (unaudited)
                                     September 30,      December 31,
                                         2002               2001
                                     ------------       ------------
<S>                                       <C>                <C>
ASSETS

Equity investments (cost of
 $2,099,412 at September 30, 2002
 and December 31, 2001)              $   611,153        $1,666,338
Cash and cash equivalents              1,820,669         2,378,800
Due from related parties                  31,944                --
Other assets                               1,025             1,056
                                       ---------         ---------
     Total assets                     $2,464,791        $4,046,194
                                       =========         =========

LIABILITIES AND PARTNERS' CAPITAL

Accounts payable and accrued expenses $   14,647        $   40,801
Due to related parties                        --             3,772
                                       ---------         ---------
     Total liabilities                    14,647            44,573

Commitments and contingencies
 See Note 7.

Partners' capital
 Limited Partner
 (79,716 Units outstanding)            2,454,177         3,990,139
 General Partners                         (4,033)           11,482
                                       ---------         ---------
     Total partners' capital           2,450,144         4,001,621
                                       ---------         ---------
     Total liabilities and
       partners' capital              $2,464,791        $4,046,194
                                       =========         =========
</TABLE>







The accompanying notes are an integral part of these financial
statements.


<PAGE>
STATEMENTS OF INVESTMENTS
-------------------------
<TABLE>
<CAPTION>
                                        Principal
                                        amount or        September 30, 2002     December 31, 2001
Industry                                shares at        ------------------     -----------------
(1)                         Investment  September 30,    Cost       Fair        Cost    	  Fair
Company             Position   Date        2002          Basis      Value       Basis       Value
-------------       --------  ------   ------------      -----      -----       -----       -----
<S>                   <C>      <C>          <C>           <C>        <C>         <C>         <C>

Equity Investments
------------------

Medical/Biotechnology
---------------------
11.2% and 26.8% at September 30, 2002 and December 31, 2001, respectively
-------------------------------------------------------------------------
Acusphere, Inc.    Preferred   1995-
 (a)               shares      1997      340,635      $706,251   $192,118   $ 706,251  $  970,810
Prolinx, Inc.      Preferred
 (a) (b)           shares      2001       30,417        27,355     10,950      27,355      13,688
Prolinx, Inc.      Common      1995-
 (a) (b)           shares      1998      197,436       688,461     71,077     688,461      88,846
Prolinx, Inc.      Preferred
 (a) (b)           share
                   warrants
                   at $.90;
                   expiring
                   2010        2001        7,416           293          0         293           0
                                                     ---------  ---------   ---------   ---------
                                                     1,422,360    274,145	 1,422,360   1,073,344
                                                     ---------  ---------   ---------   ---------


STATEMENTS OF INVESTMENTS (continued)
------------------------------------

Medical/Diagnostic Equipment
----------------------------
12.7% and 10.7% at September 30, 2002 and December 31, 2001, respectively
-------------------------------------------------------------------------
LifeCell           Common
 Corporation       shares      2002      103,877      247,500    186,979     247,500     229,967
R2 Technology,     Preferred   1994-
 Inc. (a)          shares      1996      117,134      134,268    123,632     134,268     197,820
                                                    ---------  ---------   ---------   ---------
                                                      381,768    310,611     381,768     427,787
                                                    ---------  ---------   ---------   ---------

Pharmaceuticals
---------------
0.0% and 0.0% at September 30, 2002 and December 31, 2001, respectively
-----------------------------------------------------------------------
Periodontix,       Preferred   1993-
 Inc. (a)          shares      1996      167,000      234,000          0     234,000           0
                                                    ---------  ---------   ---------   ---------
                                                      234,000          0     234,000           0
                                                    ---------  ---------   ---------   ---------

Environmental
-------------
0.0% and 0.0% at September 30, 2002 and December 31, 2001, respectively
-----------------------------------------------------------------------
Triangle
 Biomedical
 Sciences,         Common
 Inc. (a)          shares      1999          366       10,248      1,025      10,248       1,025
Triangle           Common
 Biomedical        share
 Sciences,         warrant
 Inc. (a)          at $28.00;
                   expiring
                   2009        1999          366          366         37         366          37
                                                    ---------  ---------   ---------   ---------
                                                       10,614      1,062      10,614       1,062
                                                    ---------  ---------   ---------   ---------


STATEMENTS OF INVESTMENTS (continued)
------------------------------------

Venture Capital Limited Partnership Investments
-----------------------------------------------
1.0% and 4.1% at September 30, 2002 and December 31, 2001, respectively
-----------------------------------------------------------------------
Medical Science    Limited
 Partners II, L.P. Partnership
 (a)               Interests   various  $250,000       50,670     25,335      50,670     164,145
                                                    ---------  ---------   ---------   ---------
                                                       50,670     25,335      50,670     164,145
                                                    ---------  ---------   ---------   ---------
Total equity investments- 24.9% and 41.6%
 at September 30, 2002 and December 31, 2001,
 respectively                                      $2,099,412 $  611,153  $2,099,412  $1,666,338
                                                    =========  =========   =========   =========

Legend and footnotes:

 --   No investment held at end of period.
 0    Investment active with a carrying value or fair value of zero.

(a) Equity security acquired in a private placement transaction; resale may be subject to certain
selling restrictions.
(b) Portfolio company is an affiliate of the Partnership; resale may be subject to certain selling
restrictions.
(1) Represents the total fair value of a particular industry segment as a percentage of partners'
capital at September 30, 2002 and December 31, 2001.

</TABLE>









The accompanying notes are integral part of these financial statements.


<PAGE>
STATEMENTS OF OPERATIONS (unaudited)
-----------------------------------
<TABLE>
<CAPTION>                                           For the Three Months       For the Nine Months
                                                    Ended September 30,        Ended September 30,
                                                    ---------------------    ---------------------
                                                      2002         2001          2002         2001
                                                     ------       ------        ------       ------
<S>                                              <C>          <C>          <C>         <C>
Investment income:
 Interest income                                  $   6,469    $    508     $   22,512      $ 2,897
 Dividend income                                         --          97             --          198
                                                   --------      -------     ---------      -------
  Total investment income                             6,469         605         22,512        3,095
Investment expenses:
 Management fees                                     32,275       35,684       103,643      112,339
 Individual General Partners' compensation            8,500        9,623        22,500       29,580
 Administrative and investor services                40,773       55,383       192,850      156,137
 Investment operations                                4,944        6,795        24,259       29,513
 Professional fees                                   91,902       11,946       155,242       58,852
 Computer services                                    5,146       15,347        26,143       41,789
 Interest expense                                        --       13,697            --       20,594
                                                   --------      -------     ---------      -------
  Total investment expenses                         183,540      148,475       524,637      448,804
                                                   --------      -------     ---------      -------
Net investment loss                                (177,071)    (147,870)     (502,125)    (445,709)
                                                   --------      -------     ---------      -------
Net realized gain from venture capital
  limited partnership investments                     5,833           --         5,833           --
Net realized loss from sales of
  equity investments                                     --      (16,411)           --      (16,411)
Net realized loss on equity investment
  write offs                                             --     (162,925)           --     (162,925)
                                                   --------      -------     ---------      -------
Net realized income (loss)                            5,833     (179,336)        5,833     (179,336)
                                                   --------      -------     ---------      -------


Net (increase) decrease in unrealized
  depreciation of equity investments               (302,389)     236,101    (1,055,185)     115,727
                                                   --------      -------     ---------      -------
Net decrease in partners' capital
  resulting from operations                       $(473,627)   $ (91,105)  $(1,551,477)   $(509,318)
                                                   ========      =======     =========      =======
Net decrease in partners' capital
  resulting from operations per Unit              $   (5.88)   $   (1.14)  $    (19.27)   $   (6.33)
                                                   ========      =======     =========      =======
</TABLE>
































The accompanying notes are an integral part of these financial statements.


STATEMENTS OF CASH FLOWS (unaudited)
-----------------------------------
<TABLE>
<CAPTION>
                                    For the Nine Months Ended September 30,
                                    --------------------------------------
                                               2002             2001
                                              ------           ------
<S>                                           <C>             <C>
Net decrease in partners'
 capital resulting from operations        $(1,551,477)     $  (509,318)

Adjustments to reconcile net decrease
 in partners' capital resulting
 from operations to net cash used by
 operating activities:
  Net increase (decrease) in unrealized
   depreciation of equity investments       1,055,185         (115,727)
  Net realized loss from sales of
    equity investments                             --           16,411
  Net realized gain from venture capital
    limited partnership investments            (5,833)              --
  Net realized loss from investment
    write offs                                     --          162,925
  Increase in accrued interest on
    notes receivable                               --           (2,587)
  Decrease in accounts payable
    and accrued expenses                      (26,154)         (15,498)
  Decrease in due to related parties          (35,716)        (604,358)
  Other changes, net                               31             (356)
                                            ---------        ---------
   Net cash used by operating activities     (563,964)      (1,068,508)
                                            ---------        ---------
Cash flows from investing activities:
  Proceeds from venture capital
    limited partnership investments             5,833               --
  Proceeds from the sales of equity
    investments                                    --          185,386
                                            ---------        ---------
   Net cash provided by investing activities    5,833          185,386
                                            ---------        ---------
Cash flows from financing activities:
  Proceeds from short-term
    borrowings, net                                --          970,593
                                            ---------        ---------
   Net cash provided by financing
    activities                                     --          970,593
                                            ---------        ---------
Net (decrease) increase in cash and
  cash equivalents                           (558,131)          87,471

Cash and cash equivalents at beginning
  of year                                   2,378,800           36,945
                                            ---------        ---------
Cash and cash equivalents at September 30 $ 1,820,669      $   124,416
                                            =========        =========
</TABLE>
The accompanying notes are an integral part of these financial statements.



<PAGE>
NOTES TO FINANCIAL STATEMENTS (unaudited)
----------------------------------------

1.     Interim Financial Statements
       ----------------------------

The accompanying unaudited financial statements included herein have been
prepared in accordance with the requirements of Form 10-Q and, therefore,
do not include all information and footnotes which would be presented were
such financial statements prepared in accordance with generally accepted
accounting principles.  These statements should be read in conjunction with
the Annual Report on Form 10-K for the year ended December 31, 2001.  In
the opinion of the Managing General Partners, the accompanying interim
financial statements reflect all adjustments necessary for the fair
presentation of the financial position, results of operations, and cash
flows for the interim periods presented.  Allocation of income and loss to
Limited and General Partners is based on cumulative income and loss.
Adjustments, if any, are reflected in the current quarter balances. The
results of operations for such interim periods are not necessarily
indicative of results of operations to be expected for the full year.

2.    Termination and Liquidation of the Partnership
      ----------------------------------------------

The Partnership Agreement provides that the Partnership will terminate
December 31, 2002, unless extended for two additional two-year periods by
the Individual General Partners.  In September 2001, the Individual General
Partners directed the Managing General Partners to proceed with the
earliest reasonable termination of the Partnership.  In March 2002, the
Individual General Partners approved the retention of an independent third
party to value the Partnership's private holdings and subsequently engaged
the third party to seek buyers for those investments.  As of September 30,
2002, there were no definite buyers in place.

The Managing General Partners expect that the Individual General Partners
will not extend the life of the Partnership.  Should the Partnership
terminate at December 31, 2002, the audited financial statements of the
partnership will be prepared on a liquidation basis. The accompanying
interim financial statements do not include any adjustments that might
result from a change to accounting on a liquidation basis. The Partnership
has been advised by its independent public accountants that should the
Partnership terminate, their report on those financial statements will be
modified for that matter.

3.     Provision for Income Taxes
       --------------------------

No provision for income taxes has been made by the Partnership as the
Partnership is not directly subject to taxation.  The partners are to
report their respective shares of Partnership income or loss on their
individual tax returns.

The accompanying financial statements are prepared using accounting
principles generally accepted in the United States which may not equate to
tax accounting.  The cost of investments on a tax basis at September 30,
2002 and December 31, 2001, was $2,290,848.  At September 30, 2002 and
December 31, 2001, gross unrealized appreciation and depreciation on
investments based on cost for federal income tax purposes were as follows:
<CAPTION>
<TABLE>
  September 30,   December 31,
                                         2002            2001
                                     -------------   ------------
<S>                                  <C>           <C>
Unrealized appreciation               $     4,167    $   386,084
Unrealized depreciation                (1,683,862)    (1,010,594)
                                        ---------      ---------
Net unrealized depreciation           $(1,679,695)   $  (624,510)
                                        =========      =========
</TABLE>

4.     Related Party Transactions
       --------------------------

Related party costs are included in investment expenses shown on the
Statements of Operations.  Related party costs for the nine months ended
September 30, 2002 and 2001, were as follows:
<CAPTION>
<TABLE>
                                               2002              2001
                                              ------            ------
<S>                                        <C>                <C>
Management fees                             $103,643          $112,339
Individual General Partners' compensation     22,500            29,580
Reimbursable operating expenses              183,402           183,886

</TABLE>

Management fees are equal to 2 percent of the total Limited Partner capital
contributions for the first year of Partnership operations through the
sixth year.  Beginning in the seventh year (May 2001), management fees
declined by 10 percent per year from the initial 2 percent.  Management
fees compensate the Managing General Partners solely for general partner
overhead (as defined in the Partnership Agreement) incurred in supervising
the operation and management of the Partnership and the Partnership's
investments.  Management fees due to the Managing General Partners were
$9,622 at September 30, 2002 and were netted against due from related
parties. At December 31, 2001 management fees of $11,895 were included in
due to related parties.

The Partnership reimburses the Managing General Partners for certain
operating expenses incurred in connection with the business of the
Partnership.  Reimbursable operating expenses paid by the Managing General
Partners include expenses (other than organizational and offering expenses
and general partner overhead) such as administrative and investor services,
investment operations, and computer services.  Certain reimbursable
expenses have been accrued based upon interim estimates prepared by the
Managing General Partners and are adjusted to actual costs periodically.
Amounts due from related parties for such expenses were $41,566 and $8,123
at September 30, 2002 and December 31, 2001, respectively.

Officers of the Managing General Partners occasionally receive stock
options as compensation for serving on the Boards of Directors of portfolio
companies.  It is the Managing General Partners' policy that all such
compensation be transferred to the investing partnerships.  If the options
are non-transferable, they are not recorded as an asset of the Partnership.
Any profit from the exercise of such options will be transferred if and
when the options are exercised and the underlying stock is sold by the
officers.  Any such profit is allocated amongst the Partnership and
affiliated partnerships based on their proportionate investments in the
portfolio company.  At September 30, 2002, the Partnership and affiliated
partnerships had an indirect interest in non-transferable Endocare, Inc.
options with a fair value of $164,331.

5.     Equity Investments
       ------------------

All investments are valued at fair value as determined in good faith by the
Managing General Partners.

Marketable Equity Securities
----------------------------

Marketable equity securities had aggregate costs of $247,500 at September
30, 2002, and December 31, 2001, and aggregate fair values of $186,979 and
$229,967  at September 30, 2002 and December 31, 2001, respectively.  There
were no gross gains at September 30, 2002 or December 31, 2001.

Restricted Securities
---------------------

At September 30, 2002 and December 31, 2001, restricted securities had
aggregate fair values of $424,174 and $1,436,371 respectively, representing
17.3 percent and 35.9 percent, respectively, of the net assets of the
Partnership.


Other Equity Investments
------------------------

Other significant changes reflected in the Statements of Investments relate
to market value fluctuations for publicly-traded portfolio companies or
changes in the fair value of private companies as determined in accordance
with the policy described in Note 1 to the financial statements included in
the Partnership's December 31, 2001 Form 10-K.

Subsequent Events
-----------------

In November 2002, the Partnership sold its entire investment in R2
Technology, Inc. for $209,670.



6.     Cash and Cash Equivalents
       -------------------------

Cash and cash equivalents at September 30, 2002 and December 31, 2001,
consisted of:
<CAPTION>
<TABLE>
                                                  2002           2001
                                                --------       ---------
<S>                                          <C>           <C>
Demand accounts                               $   34,141      $   13,501
Money market accounts                          1,786,528       2,365,299
                                               ---------       ---------
     Total                                    $1,820,669      $2,378,800
                                               =========       =========
</TABLE>

7.     Commitments and Contingencies
       -----------------------------

From time to time, the Partnership becomes a party to financial instruments
with off-balance-sheet risk in the normal course of its business.
Generally, these instruments are commitments for future equity investment
fundings, equipment financing commitments, or accounts receivable lines of
credit that are outstanding but not currently fully utilized by a borrowing
company.  As they do not represent current outstanding balances, these
unfunded commitments are properly not recognized in the financial
statements.  At September 30, 2002, there were no unfunded investment
commitments to portfolio companies and venture capital limited
partnerships.

From time to time, the Partnership is subject to routine litigation
incidental to the business of the Partnership.  Although there can be no
assurances as to the ultimate disposition of these matters and the
proceeding disclosed above, it is the opinion of the Managing General
Partners, based upon the information available at this time, that the
expected outcome of these matters, individually or in the aggregate, will
not have a materially adverse effect on the results of operations and
financial condition of the Partnership.



8.     Financial Highlights
       --------------------
<TABLE>
<CAPTION>
                                 For The Nine Months Ended September 30,
                                 --------------------------------------
                                             2002          2001
                                            ------        ------
<S>                                         <C>            <C>
(all amounts on a per Unit basis)
Net asset value,
 beginning of period                        $49.96        $35.04

Loss from investment
 operations:
  Net investment loss                        (6.24)       (5.54)
  Net realized and unrealized
   loss on investments                      (13.03)       (0.79)
                                            ------       ------
  Total from investment
   operations                               (19.27)       (6.33)
                                            ------       ------
Net asset value, end of period              $30.69       $28.71
                                            ======       ======


Total Return                                (38.57)%     (18.05)%

Ratios to average net assets:

 Net investment loss                        (15.46)%     (17.37)%

 Expenses                                    16.32%       17.66%
</TABLE>


Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations

The Partnership Agreement provides that the Partnership will terminate
December 31, 2002, unless extended for two additional two-year periods by
the Individual General Partners.  In September 2001, the Individual General
Partners directed the Managing General Partners to proceed with the
earliest reasonable termination of the Partnership.  In March 2002, the
Individual General Partners approved the retention of an independent third
party to value the Partnership's private holdings and subsequently engaged
the third party to seek buyers for those investments.  As of September 30,
2002, there were no definite buyers in place.

The Managing General Partners expect that the Individual General Partners
will not extend the life of the Partnership.  Should the Partnership
terminate at December 31, 2002, the audited financial statements of the
partnership will be prepared on a liquidation basis. The accompanying
interim financial statements do not include any adjustments that might
result from a change to accounting on a liquidation basis. The Partnership
has been advised by its independent public accountants that should the
Partnership terminate, their report on those financial statements will be
modified for that matter.

Liquidity and Capital Resources
-------------------------------

The Partnership operates as a business development company under the
Investment Company Act of 1940 and makes venture capital investments in new
and developing companies.  The Partnership's financial condition is
dependent upon the success of the portfolio companies.  There is no ready
market for many of the Partnership's investments.  It is possible that some
of its venture capital investments may be a complete loss or may be
unprofitable and that others will appear likely to become successful, but
may never realize their potential.  The valuation of the Partnership's
investments in securities for which there are no available market quotes is
subject to the estimate of the Managing General Partners in accordance with
the valuation guidance described in Note 1 to the financial statements
included in the Partnership's December 31, 2001 Form 10-K.  In the absence
of readily obtainable market values, the estimated fair value of the
Partnership's investments may differ significantly from the values that
would have been used had a ready market existed.

During the nine months ended September 30, 2002, net cash used by operating
activities totaled $563,964.  The Partnership paid management fees of
$105,916 to the Managing General Partners and reimbursed related parties
for investment expenses of $216,845,  In addition, $22,500 was paid to the
Individual General Partners as compensation for their services.  The
Partnership paid other investment expenses of $241,215.  Interest income of
$22,512 was received.

Cash and cash equivalents at September 30, 2002, were $1,820,669. Future
proceeds from investment sales and operating cash reserves are expected to
be adequate to fund Partnership operations through the next twelve months.

Results of Operations
---------------------

Current quarter compared to corresponding quarter in the preceding year
-----------------------------------------------------------------------

Net decrease in partners' capital resulting from operations was $473,627
for the quarter ended September 30, 2002, compared to a net decrease in
partners' capital resulting from operations of $91,105 for the same period
in 2001.

Net unrealized depreciation on equity investments was $1,488,259 and
$1,185,870 at September 30, 2002 and June 30, 2002, respectively.  During
the quarter ended September 30, 2002, the Partnership recorded an increase
in net unrealized depreciation on equity investments of $302,389 compared
to a decrease in unrealized depreciation of $236,101 during the quarter
ended September 30, 2001. The change in 2002 was primarily attributable to
a decrease in the publicly-traded price of Lifecell Corporation and
decreases in the fair values of Accusphere, Inc., a private portfolio
company in the biotechnology industry, and an investment in a venture
capital limited partnership.  The decrease in unrealized depreciation in
2001 was primarily due to an increase in the publicly-traded price of
Endocare, Inc. and the write off of Adesso Healthcare Technology Services,
Inc.

During the quarter ended September 30, 2001, realized loss from equity
investment write offs totaled $162,925.  This amount related to the write
off of Adesso Healthcare Technology Services, Inc.  There were no write
offs during the same period in 2002.

Total investment expenses were $183,540 for the quarter ended September 30,
2002, compared to $148,475 for the same period in 2001.  The increase is
primarily attributable to increased professional fees.

During the quarter ended September 30, 2002, the Partnership realized a
gain from venture capital limited partnership investments of $5,833. There
were no gains for the same quarter in 2001. The gains represent
distributions from profits of venture capital limited partnership
investments.

Given the inherent risk associated with the business of the Partnership,
the future performance of the portfolio company investments may
significantly impact future operations.

Current nine months compared to corresponding nine months in the preceding
--------------------------------------------------------------------------
year
----

Net decrease in partners' capital resulting from operations was $1,551,477
for the nine months ended September 30, 2002, compared to a net decrease in
partners' capital resulting from operations of $509,318 for the same period
in 2001.

Net unrealized depreciation on equity investments was $1,488,259 and
$433,074 at September 30, 2002 and December 31, 2001, respectively.  During
the nine months ended September 30, 2002, the Partnership recorded an
increase in net unrealized depreciation on equity investments of $1,055,185
compared to a decrease in unrealized depreciation of $115,727 for the nine
months ended September 30, 2001. The increase in 2002 was primarily due to
decreases in the fair values of private portfolio companies in the
medical/biotechnology and medical/diagnostic equipment industries and an
investment in a venture capital limited partnership, and a decrease in the
publicly-traded price of Lifecell Corporation.  The change in 2001 was
primarily attributable to an increase in the publicly-traded price of
Endocare, Inc. and the write off of Adesso Healthcare Technology Services,
Inc., partially offset by a decrease in the fair value of Prolinx, Inc., a
private portfolio company in the biotechnology industry.

During the nine months ended September 30, 2001, realized loss from equity
investment write offs totaled $162,925.  This amount related to the write
off of Adesso Healthcare Technology Services, Inc.  There were no write
offs during the same period in 2002.

During the nine months ended September 30, 2002, the Partnership realized a
gain from venture capital limited partnership investments of $5,833. There
were no gains for the same time period in 2001. The gains represent
distributions from profits of venture capital limited partnership
investments.

Total investment expenses were $524,637 for the nine months ended September
30, 2002, compared to $448,804 for the same period in 2001.  The increase
is primarily attributable to increased administrative and investor services
activity and increased professional fees.


Item 4.  Procedures and Controls

The undersigned is responsible for establishing and maintaining disclosure
controls and procedures for Technology Funding Medical Partners I, L.P.
Such officer has concluded (based upon his evaluation of these controls and
procedures as of a date within 90 days of the filing of this report) that
Technology Funding Medical Partners I, L.P.'s disclosure controls and
procedures are effective to ensure that information required to be
disclosed by Technology Funding Medical Partners I, L.P. in this report is
accumulated and communicated to Technology Funding Medical Partners I,
L.P.'s management, including its principal executive officers as
appropriate, to allow timely decisions regarding required disclosure.

The certifying officer also has indicated that there were no significant
changes in Technology Funding Medical Partners I, L.P.'s internal controls
or other factors that could significantly affect such controls subsequent
to the date of their evaluation, and there were no corrective actions with
regard to significant deficiencies and material weaknesses.

                              CERTIFICATION
                              -------------

I, Charles R. Kokesh, President, Chief Executive Officer, Chief Financial
Officer and Chairman of Technology Funding Inc. and Managing General
Partner of Technology Funding Limited, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Technology Funding
Medical Partners I, L.P.;
2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this quarterly report;
3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all
material respects the financial condition, results of operations and cash
flows of the registrant as of, and for, the periods presented in this
quarterly report;
4. I am responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the
registrant and I have:
a) designed such disclosure controls and procedures to ensure that material
information relating to the registrant is made known to me by others within
the entity, particularly during the period in which this quarterly report
is being prepared;
b) evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
quarterly report (the Evaluation Date); and
c) presented in this quarterly report my conclusions about the
effectiveness of the disclosure controls and procedures based on my
evaluation as of the Evaluation Date;
5. I have disclosed, based on my most recent evaluation, to the
registrant's auditors and the audit committee of registrant's board of
directors (or persons performing the equivalent function):
a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and
b) any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal
controls; and
6. I have indicated in this quarterly report whether or not there were
significant changes in internal controls or in other factors that could
significantly affect internal controls subsequent to the date of my most
recent evaluation, including any corrective actions with regard to
significant deficiencies and material weaknesses.

Date:   November 14, 2002    By:    /s/Charles R. Kokesh
                               --------------------------------
                                     Charles R. Kokesh
                                     President, Chief Executive
                                     Officer, Chief Financial
                                     Officer and Chairman of
                                     Technology Funding Inc. and
                                     Managing General Partner of
                                     Technology Funding Limited


II.   OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

(a)  On July 8, 2002, the Partnership filed its Amended and Restated
     Limited Partnership Agreement on Form 8-K.

     On October 16, 2002, the Partnership filed Form 8-K pursuant to the
     SEC's Release No. 34-43069 regarding Commission Guidance on Mini-
     Tender Offers.  No financial statements were filed.


<PAGE>
                              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, thereunto duly authorized.


                      TECHNOLOGY FUNDING MEDICAL PARTNERS I, L.P.

                           By:  TECHNOLOGY FUNDING INC.
                                TECHNOLOGY FUNDING LTD.
                                Managing General Partners


Date: November 14, 2002      By:  /s/Charles R. Kokesh
                                ---------------------
                                   Charles R. Kokesh
                                   President, Chief Executive Officer,
                                   Chief Financial Officer and
                                   Chairman of Technology Funding Inc.
                                   and Managing General Partner of
                                   Technology Funding Ltd.



                             CERTIFICATION
                             -------------

In connection with the Technology Funding Medical Partners I, L.P. (the
Partnership) Quarterly Report on Form 10-Q for the period ending September
30, 2002, as filed with the Securities and Exchange Commission (the
Report), I Charles, R. Kokesh, President, Chief Executive Officer, Chief
Financial Officer and Chairman of Technology Funding Inc. and Managing
General Partner of Technology Funding Limited, certify, pursuant to 18
U.S.C. Section 1350, as added Section 906 of the Sarbanes-Oxley Act of
2002, that:

1. The Report fully complies with the requirements of Section 15(d) of
the Securities Exchange Act of 1934; and

2. To my knowledge, the information contained in the Report fairly
presents, in all material respects, the financial condition and
results of operations of the Partnership as of and for the period
covered by the Report.


Date:    November 14, 2002    By:   /s/Charles R. Kokesh
                                 ------------------------------
                                     Charles R. Kokesh
                                     President, Chief Executive
                                     Officer, Chief Financial
                                     Officer and Chairman of
                                     Technology Funding Inc. and
                                     Managing General Partner of
                                     Technology Funding Limited