SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549



                                  SCHEDULE 13G

             Information statement pursuant to Rule 13d-1 and 13d-2
                                (Amendment No. )*

                                 Hybridon, Inc.
- --------------------------------------------------------------------------------
                                (Name of issuer)


                                  Common Stock**
- --------------------------------------------------------------------------------
                         (Title of class of securities)

                                    44860M801
- --------------------------------------------------------------------------------
                                 (CUSIP number)


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

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

**  We hold securities convertible into common stock.

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                                  SCHEDULE 13G


- --------------------------------                     

         CUSIP NO. 44860M801             13G            
- --------------------------------                     

- --------- ----------------------------------------------------------------------

   1      NAME OF REPORTING PERSONS
          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

          Pecks Management Partners, Ltd.          11-3015963
- --------- ----------------------------------------------------------------------

   2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*     (a) [ ]
                                                                (b) [ ]
                                    Not Applicable
- --------- ----------------------------------------------------------------------

   3      SEC USE ONLY

- --------- ----------------------------------------------------------------------
   4
          CITIZENSHIP OR PLACE OF ORGANIZATION
                                    New York
- ---------------------- ------ --------------------------------------------------

                          5    SOLE VOTING POWER       356,500 shares           
                                                                                
      NUMBER OF         ------ -------------------------------------------------
       SHARES                                                                   
BENEFICIALLY OWNED BY     6    SHARED VOTING POWER      None                    
        EACH            ------ -------------------------------------------------
      REPORTING                                                                 
     PERSON WITH          7    SOLE DISPOSITIVE POWER   356,500 shares          
                        ------ -------------------------------------------------
                                                                                
                          8    SHARED DISPOSITIVE POWER   None                  

- --------- ----------------------------------------------------------------------

   9      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                     356,500 shares 
- --------- ----------------------------------------------------------------------

   10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
          CERTAIN SHARES*
                                  Not Applicable
- --------- ----------------------------------------------------------------------

   11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                     6.6%
- --------- ----------------------------------------------------------------------

   12     TYPE OF REPORTING PERSON*
                                  IA
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!



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- --------------------------------------------------------------------------------
                          PECKS MANAGEMENT PARTNERS LTD.
- --------------------------------------------------------------------------------
                                                                  
Item 1a.             Hybridon, Inc.

Item 1b              620 Memorial Drive
                     Cambridge, MA 02139 
                     
Item 2a              Pecks Management Partners Ltd.

Item 2b              One Rockefeller Plaza, Suite 900
                     New York, NY 10020

Item 2c              New York

Item 2d              Common Stock*

                     *  We hold securities convertible into Common Stock

Item 2e              Cusip:  44860M801

Item 3e              Investment Adviser Registered under Section 203 of the
                     Investment Advisers Act of 1940

Item 4               a          356,500 shares
                     b          6.6%
                     c   (i)    356,500
                        (ii)    None
                       (iii)    356,500
                        (iv)    None

Item 5              Inapplicable

Item 6              Shares as to which this schedule is filed are owned by seven
                    investment advisory clients of the person filing this 
                    schedule, which clients receive dividends and the proceeds
                    from the sale of such shares. None of the clients are known
                    to have such interest with respect to more than 5% of the
                    class.

Items 7-9           Inapplicable

Item 10             "By  signing  below  I  certify  that,  to  the  best  of my
                    knowledge and belief, the securities  referred to above were
                    acquired in the  ordinary  course of  business  and were not
                    acquired  for the  purpose  of and do not have the effect of
                    changing  or  influencing  the control of the issuer of such
                    securities and were not acquired in connection  with or as a
                    participant  in  any  transaction  having  such  purpose  or
                    effect."

                    After  reasonable  inquiry and to the best of my  knowledge
                    and belief,  I certify  that the  information  set forth is
                    true, complete and correct.

                                                January 27, 1998

                                                /s/ Arthur W. Berry
                                                ------------------------------
                                                Arthur W. Berry
                                                Managing Director



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