Drain baby clams in a sieve over a bowl, reserving juice.
Heat butter and olive oil in a medium saucepan over medium heat. Add garlic, and sauté 1 minute. Stir in flour. Stir in the reserved clam juice, wine, chopped parsley, chopped thyme, and pepper, and cook 2 minutes, stirring frequently. Add the baby clams and the minced clams, and cook 3 minutes or until thoroughly heated. Serve clam sauce over pasta. Garnish with thyme sprigs, if desired.