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    <nameOfIssuer>ABBOTT LABS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <cusip>00287Y109</cusip>
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    <nameOfIssuer>ALIGNMENT HEALTHCARE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>01625V104</cusip>
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      <Sole>31500</Sole>
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    <nameOfIssuer>ALNYLAM PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02043Q107</cusip>
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      <Sole>2568</Sole>
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    <cusip>031162100</cusip>
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    <nameOfIssuer>AMICUS THERAPEUTICS</nameOfIssuer>
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    <cusip>03152W109</cusip>
    <value>616592</value>
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      <Sole>38000</Sole>
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      <None>5300</None>
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    <nameOfIssuer>ARCUS BIOSCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03969F109</cusip>
    <value>1356999</value>
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      <Sole>54000</Sole>
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    <nameOfIssuer>ARGENX SE SPN ADR</nameOfIssuer>
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    <cusip>04016X101</cusip>
    <value>2433710</value>
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    <nameOfIssuer>ARRIVENT BIOPHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04272N102</cusip>
    <value>769691</value>
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      <sshPrnamt>38255</sshPrnamt>
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      <Sole>36840</Sole>
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    <nameOfIssuer>ARS PHARMACEUTICALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>82835W108</cusip>
    <value>347205</value>
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      <Sole>26000</Sole>
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      <None>3803</None>
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    <nameOfIssuer>ASCENDIS PHARMA</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>04351P101</cusip>
    <value>693883</value>
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      <sshPrnamt>3254</sshPrnamt>
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      <Sole>2800</Sole>
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    <nameOfIssuer>ASTRAZENECA</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>046353108</cusip>
    <value>1400277</value>
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    <nameOfIssuer>AXSOME THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05464T104</cusip>
    <value>317794</value>
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      <Sole>1500</Sole>
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      <None>240</None>
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    <nameOfIssuer>BEONE MEDICINES LTD</nameOfIssuer>
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    <cusip>07725L102</cusip>
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      <sshPrnamt>2665</sshPrnamt>
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      <Sole>2285</Sole>
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    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>379259</value>
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      <sshPrnamt>2155</sshPrnamt>
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    <nameOfIssuer>BIOMARIN PHARMACEUTICAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09061G101</cusip>
    <value>646599</value>
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    <nameOfIssuer>BIONTECH SE</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>09075V102</cusip>
    <value>1639154</value>
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      <sshPrnamt>17218</sshPrnamt>
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      <Sole>16260</Sole>
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    <nameOfIssuer>BOSTON SCIENTIFIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>101137107</cusip>
    <value>2634139</value>
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    <nameOfIssuer>BOUNDLESS BIO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>10170A100</cusip>
    <value>814289</value>
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      <None>0</None>
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    <nameOfIssuer>BRIDGEBIO PHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>10806X102</cusip>
    <value>854393</value>
    <shrsOrPrnAmt>
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      <Sole>9600</Sole>
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      <None>1570</None>
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    <nameOfIssuer>CARLSMED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14280C105</cusip>
    <value>589095</value>
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      <sshPrnamt>47700</sshPrnamt>
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      <Sole>47700</Sole>
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      <None>0</None>
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    <nameOfIssuer>COGENT BIOSCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>19240Q201</cusip>
    <value>1160971</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32685</sshPrnamt>
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      <Sole>31100</Sole>
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      <None>1585</None>
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    <nameOfIssuer>CONTINEUM THERAPEUTICS</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>21217B100</cusip>
    <value>9152995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800787</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>800787</Sole>
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      <None>0</None>
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    <nameOfIssuer>CYTOKINETICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>23282W605</cusip>
    <value>374441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5893</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>5080</Sole>
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      <None>813</None>
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    <nameOfIssuer>DANAHER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>235851102</cusip>
    <value>2420829</value>
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      <None>0</None>
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    <nameOfIssuer>DEXCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>252131107</cusip>
    <value>1904819</value>
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      <sshPrnamt>28700</sshPrnamt>
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    <votingAuthority>
      <Sole>28700</Sole>
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      <None>0</None>
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    <nameOfIssuer>EDWARDS LIFESCIENCE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>28176E108</cusip>
    <value>1470563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17250</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>EVOMMUNE INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>30054Y107</cusip>
    <value>10083766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>589005</sshPrnamt>
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    <votingAuthority>
      <Sole>589005</Sole>
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      <None>0</None>
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    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>2195205</value>
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    <votingAuthority>
      <Sole>15330</Sole>
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      <None>2555</None>
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    <nameOfIssuer>HINGE HEALTH INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>433313103</cusip>
    <value>659869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14206</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>14206</Sole>
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      <None>0</None>
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    <nameOfIssuer>ILLUMINA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>452327109</cusip>
    <value>324227</value>
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      <sshPrnamt>2472</sshPrnamt>
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      <Sole>2132</Sole>
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      <None>340</None>
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    <nameOfIssuer>IMMATICS NV</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>N44445109</cusip>
    <value>661658</value>
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      <sshPrnamt>63015</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>59900</Sole>
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      <None>3115</None>
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    <nameOfIssuer>INCYTE CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45337C102</cusip>
    <value>271618</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2350</Sole>
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      <None>400</None>
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    <nameOfIssuer>INSMED INC</nameOfIssuer>
    <titleOfClass>COM PAR $.01</titleOfClass>
    <cusip>457669307</cusip>
    <value>1946115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11182</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
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      <None>1082</None>
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    <nameOfIssuer>INSPIRE MED SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>457730109</cusip>
    <value>664056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
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      <None>0</None>
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    <nameOfIssuer>INTUITIVE SURGIC INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>46120E602</cusip>
    <value>2746846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <nameOfIssuer>IONIS PHARMACEUTICAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462222100</cusip>
    <value>661755</value>
    <shrsOrPrnAmt>
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    <nameOfIssuer>JAZZ PHARMA PLC</nameOfIssuer>
    <titleOfClass>SHS USD</titleOfClass>
    <cusip>G50871105</cusip>
    <value>348330</value>
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      <sshPrnamt>2049</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>1750</Sole>
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      <None>299</None>
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    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>4201085</value>
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      <sshPrnamt>20300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>20300</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>KURA ONCOLOGY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50127T109</cusip>
    <value>562203</value>
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      <sshPrnamt>54110</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51650</Sole>
      <Shared>0</Shared>
      <None>2460</None>
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    <nameOfIssuer>LENZ THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>52635N103</cusip>
    <value>680000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ELI LILLY &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>532457108</cusip>
    <value>7819372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7276</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MADRIGAL PHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>558868105</cusip>
    <value>204984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>352</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>305</Sole>
      <Shared>0</Shared>
      <None>47</None>
    </votingAuthority>
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    <nameOfIssuer>MERCK &amp; CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58933Y105</cusip>
    <value>2252564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MINERALYS THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>603170101</cusip>
    <value>1147671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31625</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29900</Sole>
      <Shared>0</Shared>
      <None>1725</None>
    </votingAuthority>
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    <nameOfIssuer>MODERNA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>60770K107</cusip>
    <value>147598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4350</Sole>
      <Shared>0</Shared>
      <None>655</None>
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    <nameOfIssuer>NEKTAR THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>640268306</cusip>
    <value>570146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>0</Shared>
      <None>685</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEUROCRINE BIOSCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64125C109</cusip>
    <value>379395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2675</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>0</Shared>
      <None>375</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMADA HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68170A108</cusip>
    <value>575970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ORIC PHARMACEUTICALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68622P109</cusip>
    <value>183886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19100</Sole>
      <Shared>0</Shared>
      <None>3380</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>676035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PRIVIA HEALTH GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74276R102</cusip>
    <value>616460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PTC THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69366J200</cusip>
    <value>586031</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6650</Sole>
      <Shared>0</Shared>
      <None>1065</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>RADNET INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>750491102</cusip>
    <value>784850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>RAPPORT THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75383L102</cusip>
    <value>1180984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38925</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36530</Sole>
      <Shared>0</Shared>
      <None>2395</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>REGENERON PHARMCTCLS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75886F107</cusip>
    <value>2867497</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3363</Sole>
      <Shared>0</Shared>
      <None>352</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROIVANT SCIENCES LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G76279101</cusip>
    <value>984030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45347</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>39000</Sole>
      <Shared>0</Shared>
      <None>6347</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROYALTY PHARMA PLC</nameOfIssuer>
    <titleOfClass>SHS CLASS A</titleOfClass>
    <cusip>G7709Q104</cusip>
    <value>327281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8470</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>0</Shared>
      <None>1270</None>
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    <nameOfIssuer>SHOULDER INNOVATIONS</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>82537J108</cusip>
    <value>7041821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>492435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>492435</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>STRUCTURE THERAPEUTICS</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>86366E106</cusip>
    <value>1660298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23872</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23227</Sole>
      <Shared>0</Shared>
      <None>645</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STRYKER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>863667101</cusip>
    <value>2302129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6550</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SUMMIT THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86627T108</cusip>
    <value>1392641</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79625</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>74700</Sole>
      <Shared>0</Shared>
      <None>4925</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SYNDAX PHARMACEUTICALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87164F105</cusip>
    <value>1285813</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>58150</Sole>
      <Shared>0</Shared>
      <None>3050</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>TARSUS PHARMACEUTICAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87650L103</cusip>
    <value>1206911</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13700</Sole>
      <Shared>0</Shared>
      <None>1040</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TECTONIC THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>878972108</cusip>
    <value>881439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42255</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40700</Sole>
      <Shared>0</Shared>
      <None>1555</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TEMPUS AI INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>88023B103</cusip>
    <value>265725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3880</Sole>
      <Shared>0</Shared>
      <None>620</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>THERMO FISHER SCIENTIFIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>2259855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TREVI THERAPEUTIC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89532M101</cusip>
    <value>1054873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84255</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>79950</Sole>
      <Shared>0</Shared>
      <None>4305</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>UNIQURE N.V.</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>N90064101</cusip>
    <value>731899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30585</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29100</Sole>
      <Shared>0</Shared>
      <None>1485</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>UNITED THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91307C102</cusip>
    <value>839532</value>
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      <sshPrnamt>1723</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1475</Sole>
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      <None>248</None>
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    <nameOfIssuer>UNITEDHEALTH GRP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91324P102</cusip>
    <value>4487845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13595</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13595</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>VENTYX BIOSCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92332V107</cusip>
    <value>875413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96945</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>94000</Sole>
      <Shared>0</Shared>
      <None>2945</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VERA THERAPEUTICS</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>92337R101</cusip>
    <value>1866490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36858</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35290</Sole>
      <Shared>0</Shared>
      <None>1568</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VERTEX PHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92532F100</cusip>
    <value>3629147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7095</Sole>
      <Shared>0</Shared>
      <None>910</None>
    </votingAuthority>
  </infoTable>
</informationTable>
