SEC FORM 3

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Friedman Avram Z

(Last)

(First)

(Middle)

C/O DAVIDSON KEMPNER PARTNERS

65 EAST 55TH STREET, 19TH FLOOR

(Street)

NEW YORK

10022

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/22/2007

3. Issuer Name and Ticker or Trading Symbol
Chelsea Therapeutics International, Ltd. [ CHTP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.0001 par value ("Common Stock")	1,998,500	I	See Notes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

1. The shares of Common Stock to which this note relates are held directly by Davidson Kempner Partners, a New York limited partnership ("DKP"), as to 53,730 shares of Common Stock ("Shares"); Davidson Kempner Institutional Partners, L.P., a Delaware limited partnership ("DKIP"), as to 185,851 Shares; M.H. Davidson & Co., a New York limited partnership ("CO" ), as to 17,093 Shares; Davidson Kempner International, Ltd., a British Virgin Islands corporation ("DKIL"), as to 319,219 Shares; Davidson Kempner Healthcare Fund LP, a Delaware limited partnership ("DKHF"), as to 691,850 Shares; Davidson Kempner Healthcare International Ltd., a Cayman Islands corporation ("DKHI"), as to 723,583 Shares; and as to 7,174 Shares held in a separately managed account.

2. MHD Management Co., a New York limited partnership ("MHD"), is the general partner of DKP. Davidson Kempner Advisers Inc., a New York corporation ("DKAI"), is the general partner of DKIP and is registered as an investment adviser with the U.S. Securities Exchange Commission. Davidson Kempner International Advisors, L.L.C., a Delaware limited liability company ("DKIA"), is the investment manager of DKIL and a managed account. DK Group LLC, a Delaware limited liability company ("DKG"), is the general partner of DKHF. DK Management Partners LP, a Delaware limited partnership ("DKMP"), is the investment manager of DKHI.

3. Thomas L. Kempner, Jr., Marvin H. Davidson, Stephen M. Dowicz, Scott E. Davidson, Michael J. Leffell, Timothy I. Levart, Robert J. Brivio, Jr., Eric P. Epstein, Anthony A. Yoseloff and Avram Z. Friedman (collectively, the "Principals") are the general partners of CO and MHD, the sole managing members of DKIA and DKG and the sole stockholders of DKAI. Each of Messrs. Kempner, Levart, Marvin H. Davidson, Dowicz, Scott E. Davidson, Leffell, Brivio, Yoseloff, Epstein and Friedman are limited partners of DKMP. In addition, Robert J. Brivio controls 750 Shares in a personal account for the benefit of Robert J. Brivio and Sophia Brivio.

4. Each of the Reporting Persons disclaims beneficial ownership of the securities to which this Form 3 relates except to the extent each may be deemed to have a pecuniary interest in such securities pursuant to Section 16 of the Securities Exchange Act of 1934, as amended.

Remarks:

This is Part Three of a three part Form 3 filing. Part One is filed by Davidson Kempner Partners. Part Two is filed by Thomas L. Kempner, Jr. Parts Two and Three are filed to indicate all Reporting Persons. Parts Two and Three are not separate Form 3 filings.

	AVRAM Z. FRIEDMAN, /s/ Avram Z. Friedman	03/05/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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