The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ARIAD PHARMACEUTICALS INC COM 04033A100 11,857,000 1,670,000 SH   SOLE   1,670,000 0 0
BIND THERAPEUTICS INC COM 05548N107 2,123,500 155,000 SH   SOLE   155,000 0 0
BIOLINERX LTD SPONSORED ADR 09071M106 2,067,700 713,000 SH   SOLE   713,000 0 0
CATALYST PHARM PARTNERS INC COM 14888U101 2,640,105 1,353,900 SH   SOLE   1,353,900 0 0
CELATOR PHARMACEUTICALS INC COM 15089R102 961,000 310,000 SH   SOLE   310,000 0 0
CELGENE CORP RIGHT 12/31/2030 151020112 2,240,000 800,000 SH   SOLE   800,000 0 0
CEMPRA INC COM 15130J109 4,745,000 365,000 SH   SOLE   365,000 0 0
CARDIOVASCULAR SYS INC DEL COM 141619106 4,455,000 135,000 SH   SOLE   135,000 0 0
FLUIDIGM CORP DEL COM 34385P108 5,035,000 132,500 SH   SOLE   132,500 0 0
GERON CORP COM 374163103 13,200,000 2,640,000 SH   SOLE   2,640,000 0 0
GENTIUM S P A SPONSORED ADR 37250B104 29,239,500 505,000 SH   SOLE   505,000 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 1,670,500 130,000 SH   SOLE   130,000 0 0
INSPIREMD INC COM NEW 45779A309 2,949,440 1,134,400 SH   SOLE   1,134,400 0 0
INTERCEPT PHARMACEUTICALS INC COM 45845P108 3,641,600 56,900 SH   SOLE   56,900 0 0
KALOBIOS PHARMACEUTICALS INC COM 48344T100 1,168,500 285,000 SH   SOLE   285,000 0 0
LIGAND PHARMACEUTICALS INC COM 53220K504 4,860,000 90,000 SH   SOLE   90,000 0 0
MEDIVATION INC COM 58501N101 1,600,000 25,000 SH   SOLE   25,000 0 0
NOVADAQ TECHNOLOGIES INC COM 66987G102 2,849,200 167,600 SH   SOLE   167,600 0 0
NPS PHARMACEUTICALS INC COM 62936P103 5,945,000 205,000 SH   SOLE   205,000 0 0
OMEROS CORP COM 682143102 5,060,000 460,000 SH   SOLE   460,000 0 0
PHARMACYCLICS INC COM 716933106 12,960,000 120,000 SH   SOLE   120,000 0 0
SUNSHINE HEART INC COM 86782U106 4,123,470 425,100 SH   SOLE   425,100 0 0
TETRAPHASE PHARMACEUTICALS INC COM 88165N105 1,995,500 153,500 SH   SOLE   153,500 0 0