X0202 4 2007-03-12 0 0001103021 BIODELIVERY SCIENCES INTERNATIONAL INC BDSI 0001365385 CDC IV LLC 47 HULFISH STREET PRINCETON NJ 08542 0 0 1 0 0001352876 Ramsay David Russ 47 HULFISH STREET PRINCETON NJ 08542 0 0 1 0 0001204568 LESCHLY JAN 47 HULFISH STREET PRINCETON NJ 08542 0 0 1 0 0001191229 KARABELAS ARGERIS N 47 HULFISH STREET PRINCETON NJ 08542 0 0 1 0 0001365759 CDC Operations LLC 47 HULFISH STREET PRINCETON NJ 08542 0 0 1 0 Stock Purchase Warrant (right to buy) 3.80 2007-03-12 4 P 0 1000000 0 A 2007-03-12 2012-03-12 Common Stock, par value $0.001 per share 1000000 1000000 D Transaction executed on March 12, 2007, but closed on March 13, 2007. The reportable securities are owned directly by CDC IV, LLC and indirectly by CDC Operations LLC, David R. Ramsay, Argeris Karabelas and Jan Leschly. CDC Operating LLC disclaims beneficial ownership of the reportable securities and this report shall not be deemed an admission that CDC Operations LLC is the beneficial owner of such securities for purposes of Section 16 or any other purpose, except to the extent of its pecuniary interest therein. David R. Ramsay, Argeris Karabelas and Jan Leschly are each partners of CDC Operations LLC. Messrs. Ramsay, Karabelas and Leschly each disclaims beneficial ownership of the reportable securities and this report shall not be deemed an admission that Messrs. Ramsay, Karabelas and Leschly is the beneficial owner of such securities for purposes of Section 16 or any other purpose, except to the extent of their pecuniary interest therein. /s/ David R. Ramsay 2007-03-15