<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, 2001

                                    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)

2000 Alameda de las Pulgas, Suite 250
San Mateo, California                                            94403
---------------------------------------                       --------
(Address of principal executive offices)                     (Zip Code)

                              (650) 345-2200
             --------------------------------------------------
            (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.




<PAGE>

I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

BALANCE SHEETS
--------------
<TABLE>
<CAPTION>
                                     (unaudited)
                                     September 30,      December 31,
                                         2001               2000
                                     ------------       ------------
<S>                                        <C>               <C>
ASSETS

Equity investments (cost of
 $2,752,811 and $3,114,946 in
 2001 and 2000, respectively)         $3,229,946        $3,476,354
Cash and cash equivalents                124,416            36,945
Other assets                               1,570             1,214
                                       ---------         ---------
     Total assets                     $3,355,932        $3,514,513
                                       =========         =========

LIABILITIES AND PARTNERS' CAPITAL

Accounts payable and accrued expenses $   31,357        $   46,855
Due to related parties                    35,134           639,492
Short-term borrowings                    970,593                --
                                       ---------         ---------
     Total liabilities                 1,037,084           686,347

Commitments and contingencies

Partners' capital
 Limited Partner (79,716 units
  outstanding)                         2,349,196         2,853,421
 General Partners                        (30,348)          (25,255)
                                       ---------         ---------
     Total partners' capital           2,318,848         2,828,166
                                       ---------         ---------
     Total liabilities and
       partners' capital              $3,355,932        $3,514,513
                                       =========         =========
</TABLE>








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


<PAGE>
STATEMENTS OF INVESTMENTS
-------------------------

<TABLE>
<CAPTION>
                                        Principal            (unaudited)
                                        amount or        September 30, 2001     December 31, 2000
Industry                                shares at        ------------------     -----------------
(1)                         Investment September 30,     Cost       Fair        Cost        Fair
Company             Position   Date        2001          Basis      Value       Basis       Value
-------------       --------  ------   ------------      -----      -----       -----       -----
<S>                <C>         <C>      <C>        <C>         <C>         <C>         <C>

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

Medical/Biotechnology
---------------------
46.3% and 57.4% at September 30, 2001 and December 31, 2000, respectively
-------------------------------------------------------------------------
Acusphere, Inc.    Preferred   1995-
 (a)               shares      1997      340,635   $  706,251 $  970,810  $  706,251  $  970,810
Curis, Inc.        Common
                   shares      2000           --           --         --      27,033      20,528
Prolinx, Inc.      Preferred
 (a)               shares      2001       30,394       27,355     13,677     688,461     621,924
Prolinx, Inc.      Common      1995-
 (a)               shares      1998      197,436      688,461     88,846          --          --
Prolinx, Inc.      Convertible
 (a)               note        2000           --           --         --      26,809       9,383
Prolinx, Inc.      Preferred
 (a)               share
                   warrants
                  (terms to be
                   determined) 2001                       293          0          --          --
                                                    ---------  ---------   ---------   ---------
                                                    1,422,360  1,073,333   1,448,554   1,622,645
                                                    ---------  ---------   ---------   ---------

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

Medical/Diagnostic Equipment
----------------------------
85.1% and 51.4% at September 30, 2001 and December 31, 2000, respectively
-------------------------------------------------------------------------
Endocare, Inc.     Common      1996-
 (b)               shares      2000      182,400      556,000  1,601,472     556,000   1,162,800
LifeCell           Preferred   1996-
 Corporation       shares (2)  2000        2,826      247,500    174,755     247,500     141,137
LifeCell           Common
 Corporation       share
                   warrant at
                   $4.13;
                   expiring
                   2001        1996       56,451        2,500          0       2,500           0
R2 Technology,     Preferred   1994-
 Inc. (a)          shares      1996      117,134      134,268    197,820     134,268     148,364
                                                    ---------  ---------   ---------   ---------
                                                      940,268  1,974,047     940,268   1,452,301
                                                    ---------  ---------   ---------   ---------

Health Information Systems
--------------------------
0.9% and 1.4% at September 30, 2001 and December 31, 2000, respectively
-----------------------------------------------------------------------
Adesso Healthcare
 Technology
 Services, Inc.    Preferred   1997-
 (a) (b)           shares      2000           --           --         --     131,048           0
Adesso Healthcare
 Technology
 Services, Inc.    Convertible
 (a) (b)           note        2000           --           --         --      30,128      22,596

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

CareCentric        Common
 Solutions, Inc.   shares      1999       11,839       94,899     20,126      94,899      15,898
                                                    ---------  ---------   ---------   ---------
                                                       94,899     20,126     256,075      38,494
                                                    ---------  ---------   ---------   ---------

Pharmaceuticals
---------------
0.0% and 3.2% at September 30, 2001 and December 31, 2000, respectively
-----------------------------------------------------------------------
Axys
 Pharmaceuticals,  Common
 Inc.              shares      2000           --           --         --      47,000      56,250
Periodontix,       Preferred   1993-
 Inc. (a)          shares      1996      167,000      234,000          0     234,000      35,100
                                                    ---------  ---------   ---------   ---------
                                                      234,000          0     281,000      91,350
                                                    ---------  ---------   ---------   ---------

Environmental
-------------
0.0% and 0.1% at September 30, 2001 and December 31, 2000, respectively
-----------------------------------------------------------------------
Triangle
 Biomedical
 Sciences,         Common
 Inc. (a)          shares      1999          366       10,248      1,025      10,248       3,587
Triangle           Common
 Biomedical        share
 Sciences,         warrant
 Inc. (a)          at $28.00;
                   expiring
                   2009        1999          366          366         37         366         128
                                                    ---------  ---------   ---------   ---------
                                                       10,614      1,062      10,614       3,715
                                                    ---------  ---------   ---------   ---------

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

Venture Capital Limited Partnership Investments
-----------------------------------------------
7.0% and 9.5% at September 30, 2001 and December 31, 2000, respectively
-----------------------------------------------------------------------
Medical Science    Limited
 Partners II, L.P. Partnership
 (a)               Interests   various  $250,000       50,670    161,378     178,435     267,849
                                                    ---------  ---------   ---------   ---------
                                                       50,670    161,378     178,435     267,849
                                                    ---------  ---------   ---------   ---------
Total equity investments-139.3% and 123.0%
 at September 30, 2001 and December 31, 2000,
 respectively                                      $2,752,811 $3,229,946  $3,114,946  $3,476,354
                                                    =========  =========   =========   =========

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, 2001 and December 31, 2000.
(2) The Partnership has no income-producing equity investments except for LifeCell Corporation
Preferred shares.

</TABLE>







The accompanying notes are an 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,
                                                      --------------------      -------------------
                                                        2001         2000        2001         2000
                                                       ------       ------      ------       ------
<S>                                                      <C>          <C>          <C>         <C>
Investment income:
 Interest income                                    $     508    $      --   $   2,897  $        --
 Dividend income                                           97           79         198        8,045
                                                      -------     --------     -------    ---------
  Total investment income                                 605           79       3,095        8,045

Investment expenses:
 Management fees                                       35,684       39,649     112,339      118,947
 Individual General Partners' compensation              9,623        5,717      29,580       22,539
 Administrative and investor services                  55,383       43,217     156,137      110,857
 Investment operations                                  6,795        7,709      29,513       53,339
 Professional fees                                     11,946       20,923      58,852       55,772
 Computer services                                     15,347       11,468      41,789       29,761
 Interest expense                                      13,697          164      20,594        3,936
                                                      -------     --------     -------    ---------
  Total investment expenses                           148,475      128,847     448,804      395,151
                                                      -------     --------     -------    ---------
Net investment loss                                  (147,870)    (128,768)   (445,709)    (387,106)
                                                      -------     --------     -------    ---------

Net realized (loss) gain from sales of equity
 investments                                          (16,411)      62,087     (16,411)      61,319
Net realized loss on equity investment write offs    (162,925)          --    (162,925)          --
                                                      -------     --------     -------    ---------
Net realized (loss) income                           (179,336)      62,087    (179,336)      61,319
                                                      -------     --------     -------    ---------
Net increase (decrease) in unrealized
  appreciation of equity investments                  236,101       56,852     115,727   (1,138,468)
                                                      -------     --------     -------    ---------
Net decrease in partners'
  capital resulting from operations                 $ (91,105)   $  (9,829)  $(509,318) $(1,464,255)
                                                      =======     ========     =======    =========

STATEMENTS OF OPERATIONS (unaudited) (continued)
-----------------------------------------------

Net decrease in partners' capital
  resulting from operations per Unit                $   (1.14)   $   (0.12)  $   (6.33) $    (18.18)
                                                      =======     ========     =======    =========
</TABLE>


































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

<PAGE>
STATEMENTS OF CASH FLOWS (unaudited)
-----------------------------------
<TABLE>
<CAPTION>
                                    For the Nine Months Ended September 30,
                                   ----------------------------------------
                                               2001             2000
                                              ------           ------
<S>                                           <C>             <C>
Net decrease in partners'
 capital resulting from operations        $  (509,318)     $(1,464,255)

Adjustments to reconcile net decrease
 in partners' capital resulting
 from operations to net cash used by
 operating activities:
  Net (increase) decrease in unrealized
   appreciation of equity investments        (115,727)       1,138,468
  Net realized loss (gain) from sales of
   equity investments                          16,411          (61,319)
  Net realized loss from investment
   write offs                                 162,925               --
  Increase in accrued interest on
   notes receivable                            (2,587)              --
  (Decrease) increase in accounts
   payable and accrued expenses               (15,498)           4,416
  (Decrease) increase in due to related
   parties                                   (604,358)         214,269
  Other changes, net                             (356)            (774)
                                            ---------        ---------
  Net cash used by operating activities    (1,068,508)        (169,195)
                                            ---------        ---------
Cash flows from investing activities:
 Proceeds from the sales of equity
  investments                                 185,386           47,678
 Distributions from venture capital
  limited partnership investments                  --           20,864
 Purchase of equity investments                    --          (31,046)
                                            ---------        ---------
  Net cash provided by investing activities   185,386           37,496
                                            ---------        ---------
Cash flows from financing activities:
 Proceeds from (repayments of) short-term
  borrowings, net                             970,593           (2,646)
                                            ---------        ---------
  Net cash provided (used) by financing
   activities                                 970,593           (2,646)
                                            ---------        ---------
Net increase (decrease) in cash and
 cash equivalents                              87,471         (134,345)
Cash and cash equivalents at beginning
 of year                                       36,945          175,990
                                            ---------        ---------
Cash and cash equivalents at September 30  $  124,416      $    41,645
                                            =========        =========
</TABLE>
The accompanying notes are an integral part of these financial statements.

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

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

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.  These statements should be read
in conjunction with the Annual Report on Form 10-K for the year ended
December 31, 2000.  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.

2.     Future of Partnership Operations
       --------------------------------

The General Partners have made loans to the Partnership to finance its
recurring losses from on-going operations and have arranged broker loans on
conventional terms secured by the publicly-traded shares owned by the
Partnership.  Without such loans the Partnership would have been required
to liquidate additional investments.  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
June 2001, the Individual General Partners directed the Managing General
Partners to proceed with the earliest reasonable termination of the
Partnership after assessing the potential return on the Partnership's
investments in relation to the costs of continued operation.  The Managing
General Partners are currently exploring alternatives for termination of
the Partnership and the liquidation of its investments.  There is no ready
market for many of the Partnership's investments.  The fair value of the
Partnership's investments at September 30, 2001 may differ significantly
from a value that would have been used had the ultimate proceeds from the
liquidation of the investments been known.

The uncertainties arising from these circumstances raise substantial doubt
about the Partnership's ability to continue as a going concern.  The
accompanying interim financial statements do not include any adjustments
that might result from the outcome of these uncertainties.  The Partnership
has been advised by its independent public accountants that should the
uncertainties surrounding the Partnership's future operations remain
unresolved at year-end, their report on those financial statements will be
modified for that contingency.

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,
2001 and December 31, 2000, was $2,877,811 and $3,187,729, respectively.
At September 30, 2001 and December 31, 2000, gross unrealized appreciation
and depreciation on investments based on cost for federal income tax
purposes were as follows:
<CAPTION>
<TABLE>
                                         September 30,     December 31,
                                             2001               2000
                                        ------------       ------------
<S>                                  <C>             <C>
Unrealized appreciation                  $ 1,495,221        $1,068,550
Unrealized depreciation                   (1,143,086)         (779,925)
                                           ---------         ---------
Net unrealized appreciation              $   352,135        $  288,625
                                           =========         =========
</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, 2001 and 2000, were as follows:
<CAPTION>
<TABLE>
                                               2001              2000
                                              ------            ------
<S>                                        <C>                <C>
Management fees                              $112,339         $118,947
Individual General Partners' compensation      29,580           22,539
Reimbursable operating expenses               183,886          133,903

</TABLE>

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 to related parties for such
expenses were $23,239 and $520,544 at September 30, 2001 and December 31,
2000, respectively.

Management fees due to the Managing General Partners were $11,895 and
$118,948 at September 30, 2001 and December 31, 2000, respectively, and
were included in due to related parties.

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, 2001, the Partnership and affiliated
partnerships had an indirect interest in non-transferable Endocare, Inc.
options with a fair value of $207,619.

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 $344,900 and $395,208
at September 30, 2001 and December 31, 2000, respectively, and aggregate
fair values of $194,881 and $233,301 at September 30, 2001 and December 31,
2000, respectively.  The net unrealized losses at September 30, 2001 and
December 31, 2000, included gross gains of $0 and $9,250, respectively.

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

At September 30, 2001 and December 31, 2000, restricted securities had
aggregate fair values of $3,035,065 and $3,243,053, respectively,
representing 131 percent and 115 percent, respectively, of the net assets
of the Partnership.

Adesso Healthcare Technology Services, Inc.
-------------------------------------------

The company ceased operations during the quarter and the Partnership is not
expecting any returns on it investments.  Preferred shares and convertible
notes totaling $162,925 were written off as of September 30, 2001.

Axys Pharmaceuticals, Inc.
--------------------------

In September 2001, the Partnership sold 10,000 common shares in the company
for proceeds of $34,394 and realized a loss of $12,606.

Curis, Inc.
-----------

In September 2001, the Partnership sold 2,313 common shares in the company
for proceeds of $13,762 and realized a loss of $13,271.

deCODE Genetics, Inc.
---------------------

In September 2001, the Partnership sold 4,887 common shares in the company
for proceeds of $35,039 and realized a loss of $8,944.

Inspire Pharmaceuticals, Inc.
-----------------------------

In September 2001, the Partnership sold 9,309 common shares in the company
for proceeds of $102,191 and realized a gain of $18,410.

Periodontix, Inc.
-----------------

The assets of the company have been acquired by Demegen, Inc. effective
July 16, 2001.  The Partnership is not expecting to receive any return on
its investment.

Prolinx, Inc.
-------------

In May 2001, the company recapitalized and the Partnership's Preferred
shares were converted into 197,436 common shares.  The Partnership also
converted a note, together with interest, totaling $27,355 into 30,394
Series A Preferred shares in conjunction with the recapitalization.

Venture Capital Limited Partnership Investments
-----------------------------------------------

In March and April 2001, the Partnership received stock distributions of
deCODE Genetics, Inc. and Inspire Pharmaceuticals, Inc. with fair market
values of $43,983 and $83,781, respectively.  These distributions were
recorded as a return of capital.

In the nine months ended September 30, 2001, the Partnership recorded a
$21,294 increase in fair value as a result of a net increase in the fair
value of the underlying investments of the partnership, partially offset by
decreases due to the above distributions.

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, 2000 Form 10-K.

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

Subsequent to September 30, 2001, the Partnership sold its entire
investment in CareCentric Solutions, Inc. for proceeds of $12,444 and
realized a loss of $82,455.

The fair value of the Partnership's investment in Endocare, Inc. increased
by $282,720 as a result of an increase in the publicly traded market price
on November 6, 2001.

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

Cash and cash equivalents at September 30, 2001 and December 31, 2000
consisted of:
<CAPTION>
<TABLE>
                                               2001           2000
                                              ------         ------
<S>                                             <C>           <C>
Demand accounts                              $124,341       $36,873
Money market accounts                              75            72
                                              -------        ------
     Total                                   $124,416       $36,945
                                              =======        ======
</TABLE>

7.     Short-Term Borrowings
       ---------------------

The Partnership has a borrowing account with a financial institution.  At
September 30, 2001, the borrowing capacity of this account, which
fluctuates based on the market value of the Partnership's Endocare shares
pledged as collateral, was $1,281,178 and the outstanding balance was
$970,593.  The weighted-average interest rate for the nine months ended
September 30, 2001 was 6.32 percent.  Interest expense totaled $20,594 for
the nine months ended September 30, 2001.  At November 6, 2001, the
borrowing capacity was $1,507,354 and the outstanding balance was $938,624.

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

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

The General Partners have made loans to the Partnership to finance its
recurring losses from on-going operations and have arranged broker loans on
conventional terms secured by the publicly-traded shares owned by the
Partnership.  Without such loans the Partnership would have been required
to liquidate additional investments.  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 after assessing the potential return on the Partnership's
investments in relation to the costs of continued operation.  The Managing
General Partners are currently exploring alternatives for termination of
the Partnership and the liquidation of its investments.  There is no ready
market for many of the Partnership's investments.  The fair value of the
Partnership's investments at September 30, 2001 may differ significantly
from a value that would have been used had the ultimate proceeds from the
liquidation of the investments been known.

The uncertainties arising from these circumstances raise substantial doubt
about the Partnership's ability to continue as a going concern.  The
accompanying interim financial statements do not include any adjustments
that might result from the outcome of these uncertainties.  The Partnership
has been advised by its independent public accountants that should the
uncertainties surrounding the Partnership's future operations remain
unresolved at year-end, their report on those financial statements will be
modified for that contingency.

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, 2000 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, 2001, net cash used by operating
activities totaled $1,068,508  The Partnership paid management fees of
$219,392 to the Managing General Partners and reimbursed related parties
for investment expenses of $681,191.  In addition, $29,580 was paid to the
Individual General Partners as compensation for their services.  The
Partnership paid other investment expenses of $138,853.  Interest and
dividend income of $508 was received.

During the nine months ended September 30, 2001, proceeds from equity
investment sales were $185,386 and proceeds from short-term borrowings
totaled $970,593.  At September 30, 2001, the Partnership had no unfunded
commitments.

The Partnership has a borrowing account with a financial institution.  At
September 30, 2001, the borrowing capacity of this account, which
fluctuates based on the market value of the Partnership's Endocare shares
pledged as collateral, was $1,281,178 and the outstanding balance was
$970,593.  The weighted-average interest rate for the nine months ended
September 30, 2001 was 6.32 percent.  Interest expense totaled $20,594 for
the nine months ended September 30, 2001.  At November 6, 2001, the
borrowing capacity was $1,507,354 and the outstanding balance was $938,624.

Cash and cash equivalents at September 30, 2001, were $124,416.

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

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

Net decrease in partners' capital resulting from operations was $91,105 for
the quarter ended September 30, 2001, compared to a net decrease in
partners' capital resulting from operations of $9,829 for the same period
in 2000.

Net unrealized appreciation on equity investments was $477,135 and $241,034
at September 30 and June 30, 2001, respectively.  During the quarter ended
September 30, 2001, the Partnership recorded an increase in net unrealized
appreciation on equity investments of $236,101 compared to an increase in
unrealized appreciation of $56,852 during the quarter ended September 30,
2000.  The change in 2001 was primarily attributable to an increase in the
publicly traded market price of Endocare, Inc. and the write off of Adesso
Healthcare Technology Services, Inc.  The increase in net unrealized
appreciation on investments for the quarter ended September 30, 2000 was
primarily due to increases in the values of portfolio companies in the
biotechnology industry offset by decreases in the medical/diagnostic
equipment industry.

Total investment expenses were $148,475 for the quarter ended September 30,
2001, compared to $128,847 for the same period in 2000.  The increase is
primarily attributable to increased administrative and investor services
activity and increased interest expense.

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 $509,318
for the nine months ended September 30, 2001, compared to a net decrease in
partners' capital resulting from operations of $1,464,255 for the same
period in 2000.

Net unrealized appreciation on equity investments was $477,135 and $361,408
at September 30, 2001 and December 31, 2000, respectively.  During the nine
months ended September 30, 2001, the Partnership recorded an increase in
net unrealized appreciation on equity investments of $115,727 compared to a
decrease in unrealized appreciation of $1,138,468 for the nine months ended
September 30, 2000.  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. The decrease in net unrealized appreciation on
investments for the quarter ended September 30, 2000 was primarily due to
decreases in the market prices of publicly traded securities and in the
fair value of privately held portfolio companies.

Total investment expenses were $448,804 for the nine months ended September
30, 2001, compared to $395,151 for the same period in 2000.  The increase
is primarily attributable to increased administrative and investor services
activity and increased interest expense, partially offset by decreased
investment operations activity.

II.  OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

(a)  No reports on Form 8-K were filed by the Partnership during the
    quarter ended September 30, 2001.



<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 8, 2001   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.