SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Capital Royalty L.P. (Last) (First) (Middle) 1000 MAIN ST. SUITE 2500 (Street) HOUSTON TX 77002 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Valeritas Holdings Inc. [ VLRX ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 11/16/2018
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/16/2018		P		4,224,605	A	(1)	4,801,291	I	By Capital Royalty Partners II L.P.(2)
Common Stock	11/16/2018		P		1,264,997	A	(1)	1,475,770	I	By Capital Royalty Partners II (Cayman) L.P.(2)
Common Stock	11/16/2018		P		7,427,065	A	(1)	8,072,123	I	By Capital Royalty Partners II Parallel Fund "A" L.P.(2)
Common Stock	11/16/2018		P		2,083,333	A	(1)	4,770,394	I	By Capital Royalty Partners II Parallel Fund "B" (Cayman) L.P.(2)
Common Stock								1,066,390	I	By Parallel Investment Opportunities Partners II, L.P.(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series A Warrant	$0.6	11/16/2018		P		4,224,605		11/16/2018	11/16/2023	Common Stock	4,224,605	(1)	4,224,605	I	By Capital Royalty Partners II L.P.(2)
Series A Warrant	$0.6	11/16/2018		P		1,264,997		11/16/2018	11/16/2023	Common Stock	1,264,997	(1)	1,264,997	I	By Capital Royalty Partners II (Cayman) L.P.(2)
Series A Warrant	$0.6	11/16/2018		P		7,427,065		11/16/2018	11/16/2023	Common Stock	7,427,065	(1)	7,427,065	I	By Capital Royalty Partners II Parallel Fund "A" L.P.(2)
Series A Warrant	$0.6	11/16/2018		P		2,083,333		11/16/2018	11/16/2023	Common Stock	2,083,333	(1)	2,083,333	I	By Capital Royalty Partners II Parallel Fund "B" (Cayman) L.P.(2)
Series B Warrant	$0.48	11/16/2018		P		4,224,605		11/16/2018	11/16/2023	Common Stock	4,224,605	(1)	4,224,605	I	By Capital Royalty Partners II L.P.(2)
Series B Warrant	$0.48	11/16/2018		P		1,264,997		11/16/2018	11/16/2023	Common Stock	1,264,997	(1)	1,264,997	I	By Capital Royalty Partners II (Cayman) L.P.(2)
Series B Warrant	$0.48	11/16/2018		P		7,427,065		11/16/2018	11/16/2023	Common Stock	7,427,065	(1)	7,427,065	I	By Capital Royalty Partners II Parallel Fund "A" L.P.(2)
Series B Warrant	$0.48	11/16/2018		P		2,083,333		11/16/2018	11/16/2023	Common Stock	2,083,333	(1)	2,083,333	I	By Capital Royalty Partners II Parallel Fund "B" (Cayman) L.P.(2)

1. Name and Address of Reporting Person* Capital Royalty L.P. (Last) (First) (Middle) 1000 MAIN ST. SUITE 2500 (Street) HOUSTON TX 77002 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CAPITAL ROYALTY PARTNERS II L.P. (Last) (First) (Middle) 1000 MAIN ST. SUITE 2500 (Street) HOUSTON TX 77002 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CAPITAL ROYALTY PARTNERS II (CAYMAN) L.P. (Last) (First) (Middle) 1000 MAIN ST. SUITE 2500 (Street) HOUSTON TX 77002 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CAPITAL ROYALTY PARTNERS II - PARALLEL FUND (A) L.P. (Last) (First) (Middle) 1000 MAIN ST. SUITE 2500 (Street) HOUSTON TX 77002 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II, L.P. (Last) (First) (Middle) 1000 MAIN ST. SUITE 2500 (Street) HOUSTON TX 77002 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Capital Royalty Partners II Parallel Fund B (Cayman) L.P. (Last) (First) (Middle) 1000 MAIN ST. SUITE 2500 (Street) HOUSTON TX 77002 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Each share of Common Stock of the Issuer was sold together with one Series A warrant and one Series B warrant for $0.48.

2. CR Group L.P. (formerly known as Capital Royalty L.P.) serves as the investment manager for Capital Royalty Partners II L.P., Capital Royalty Partners II (Cayman) L.P., Capital Royalty Partners II Parallel Fund "A" L.P., Capital Royalty Partners II Parallel Fund "B" (Cayman) L.P. and Parallel Investment Opportunities Partners II, L.P.

Remarks:

	/s/ Andrei Dorenbaum, authorized signatory for Capital Royalty and each of the Funds	11/20/2018
	** 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 4 (b)(v).
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