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    <nameOfIssuer>ABBOTT LABS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002824100</cusip>
    <value>1640579</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18080</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18080</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ABBVIE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00287Y109</cusip>
    <value>3070008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
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    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ABIVAX SA</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>00370M103</cusip>
    <value>311828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>2340</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AGOMAB THERAPEUTICS</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>00860C102</cusip>
    <value>564630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43500</sshPrnamt>
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    <votingAuthority>
      <Sole>43500</Sole>
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      <None>0</None>
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    <nameOfIssuer>ALNYLAM PHARMACUETCL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02043Q107</cusip>
    <value>695379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2310</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2310</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ALPHATEC HLDGS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>02081G201</cusip>
    <value>1608035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185900</sshPrnamt>
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      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>185900</None>
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    <nameOfIssuer>AMGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031162100</cusip>
    <value>3335125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9210</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARDELYX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039697107</cusip>
    <value>624209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122394</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>122394</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ARCUS BIOSCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03969F109</cusip>
    <value>3418122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>39870</Sole>
      <Shared>0</Shared>
      <None>71000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARGENX SE</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>04016X101</cusip>
    <value>2626517</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2831</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2831</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ARRIVENT BIOPHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04272N102</cusip>
    <value>2745954</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79043</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28013</Sole>
      <Shared>0</Shared>
      <None>51030</None>
    </votingAuthority>
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    <nameOfIssuer>AVALO THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>05338F306</cusip>
    <value>2216177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119923</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31329</Sole>
      <Shared>0</Shared>
      <None>88594</None>
    </votingAuthority>
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    <nameOfIssuer>AXSOME THERAPEUTIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05464T104</cusip>
    <value>367155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BEONE MEDICINES LTD</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>07725L102</cusip>
    <value>532894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1870</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>BIOMARIN PHARMAC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09061G101</cusip>
    <value>540729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>399711</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BIONTECH SE</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>09075V102</cusip>
    <value>3895910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17664</Sole>
      <Shared>0</Shared>
      <None>24205</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>BOSTON SCIENTIFIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>101137107</cusip>
    <value>1550564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36330</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36330</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BRIDGEBIO PHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>10806X102</cusip>
    <value>305368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>BRISTOL MYERS SQUIBB</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>110122108</cusip>
    <value>1218663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CVS HEALTH CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126650100</cusip>
    <value>1344850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTENE CORP DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15135B101</cusip>
    <value>770280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COGENT BIOSCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>19240Q201</cusip>
    <value>1034838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26740</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONTINEUM THERAPEUTICS</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>21217B100</cusip>
    <value>11925151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>727587</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>727587</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ORBUS PHARMACEUTICALS HLDGS</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>21833P301</cusip>
    <value>187600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CYTOKINETICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>23282W605</cusip>
    <value>1391153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16330</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16330</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DANAHER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>235851102</cusip>
    <value>1830726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9597</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9597</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEFINIUM THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>24477V105</cusip>
    <value>3683702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31310</Sole>
      <Shared>0</Shared>
      <None>47000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEXCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>252131107</cusip>
    <value>3418417</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21906</Sole>
      <Shared>0</Shared>
      <None>28850</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EDWARDS LIFESCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>28176E108</cusip>
    <value>1341160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14826</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENGENE THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29286X101</cusip>
    <value>37541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>2605131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20620</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GUARDANT HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40131M109</cusip>
    <value>297059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1980</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HINGE HEALTH INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>433313103</cusip>
    <value>725752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8744</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8744</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HUMANA INC</nameOfIssuer>
    <titleOfClass>INC</titleOfClass>
    <cusip>444859102</cusip>
    <value>497299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IRHYTHM HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>450056106</cusip>
    <value>3101027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6660</Sole>
      <Shared>0</Shared>
      <None>19410</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ILLUMINA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>452327109</cusip>
    <value>374870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2132</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2132</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INCYTE CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45337C102</cusip>
    <value>266396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2350</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INSMED INC</nameOfIssuer>
    <titleOfClass>COM PAR $.01</titleOfClass>
    <cusip>457669307</cusip>
    <value>2475290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23216</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23216</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTUITIVE SURGIC INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>46120E602</cusip>
    <value>2326428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5850</sshPrnamt>
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    <titleOfClass>COM</titleOfClass>
    <cusip>462222100</cusip>
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      <sshPrnamt>7200</sshPrnamt>
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    <votingAuthority>
      <Sole>7200</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>46266C105</cusip>
    <value>2096051</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10848</sshPrnamt>
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      <Sole>10848</Sole>
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      <None>0</None>
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    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>4626825</value>
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      <sshPrnamt>18218</sshPrnamt>
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    <votingAuthority>
      <Sole>18218</Sole>
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      <None>0</None>
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    <nameOfIssuer>KURA ONCOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50127T109</cusip>
    <value>784136</value>
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      <sshPrnamt>71480</sshPrnamt>
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      <Sole>71480</Sole>
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    <nameOfIssuer>ELI LILLY &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>532457108</cusip>
    <value>7621178</value>
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      <sshPrnamt>6354</sshPrnamt>
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    <votingAuthority>
      <Sole>6354</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>58506Q109</cusip>
    <value>227724</value>
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      <sshPrnamt>430</sshPrnamt>
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      <Sole>430</Sole>
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    <titleOfClass>COM</titleOfClass>
    <cusip>58933Y105</cusip>
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      <sshPrnamt>21480</sshPrnamt>
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    <votingAuthority>
      <Sole>21480</Sole>
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      <None>0</None>
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    <nameOfIssuer>MINERALYS THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>603170101</cusip>
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      <sshPrnamt>14565</sshPrnamt>
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    <votingAuthority>
      <Sole>14565</Sole>
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      <None>0</None>
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    <nameOfIssuer>MODERNA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>60770K107</cusip>
    <value>304631</value>
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      <sshPrnamt>4350</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4350</Sole>
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      <None>0</None>
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    <nameOfIssuer>NEKTAR THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>640268306</cusip>
    <value>705849</value>
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      <sshPrnamt>10111</sshPrnamt>
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    <votingAuthority>
      <Sole>10111</Sole>
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      <None>0</None>
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    <nameOfIssuer>ORIC PHARMACEUTICALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68622P109</cusip>
    <value>254505</value>
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      <sshPrnamt>23500</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23500</Sole>
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      <None>0</None>
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    <nameOfIssuer>ORUKA THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>687604108</cusip>
    <value>3995903</value>
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      <sshPrnamt>41987</sshPrnamt>
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    <votingAuthority>
      <Sole>15987</Sole>
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      <None>26000</None>
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    <nameOfIssuer>PTC THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69366J200</cusip>
    <value>609328</value>
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      <sshPrnamt>7470</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7470</Sole>
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      <None>0</None>
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    <nameOfIssuer>PALISADE BIO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>696389402</cusip>
    <value>183920</value>
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      <sshPrnamt>88000</sshPrnamt>
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    <votingAuthority>
      <Sole>88000</Sole>
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      <None>0</None>
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    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>662200</value>
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      <sshPrnamt>27500</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27500</Sole>
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      <None>0</None>
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    <nameOfIssuer>PRIVIA HEALTH GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74276R102</cusip>
    <value>621019</value>
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      <sshPrnamt>24136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24136</Sole>
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      <None>0</None>
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    <nameOfIssuer>PULSE BIOSCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74587B101</cusip>
    <value>1882728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67895</sshPrnamt>
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    <votingAuthority>
      <Sole>0</Sole>
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      <None>67895</None>
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    <nameOfIssuer>REGENERON PHARMCTCLS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75886F107</cusip>
    <value>1352458</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2169</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2169</Sole>
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      <None>0</None>
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    <nameOfIssuer>REVOLUTION MEDICINES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76155X100</cusip>
    <value>342722</value>
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      <sshPrnamt>1830</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>SHOULDER INNOVATIONS</nameOfIssuer>
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    <cusip>82537J108</cusip>
    <value>8728654</value>
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    <votingAuthority>
      <Sole>430407</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARS PHARMACEUTICALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>STRYKER CORP</nameOfIssuer>
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      <Sole>7129</Sole>
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    <nameOfIssuer>STRUCTURE THERAPEUTICS</nameOfIssuer>
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    <cusip>86366E106</cusip>
    <value>232123</value>
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      <sshPrnamt>4325</sshPrnamt>
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    <nameOfIssuer>SUMMIT THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86627T108</cusip>
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      <None>128375</None>
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    <nameOfIssuer>SYNDAX PHARMACEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87164F105</cusip>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>TARSUS PHARMACEUTICALS</nameOfIssuer>
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    <cusip>87650L103</cusip>
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      <None>0</None>
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    <nameOfIssuer>TECTONIC THERAPEUTIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>878972108</cusip>
    <value>2440934</value>
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      <sshPrnamt>71009</sshPrnamt>
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      <Sole>24059</Sole>
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    <nameOfIssuer>TEMPUS AI INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>88023B103</cusip>
    <value>224768</value>
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      <sshPrnamt>3880</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3880</Sole>
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      <None>0</None>
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    <nameOfIssuer>THERMO FISHER SCIENTIFIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
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      <sshPrnamt>3508</sshPrnamt>
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    <nameOfIssuer>TRANSMEDICS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89377M109</cusip>
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    <nameOfIssuer>TREVI THERAPEUTICS</nameOfIssuer>
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    <cusip>89532M101</cusip>
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      <Sole>65596</Sole>
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      <None>0</None>
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    <nameOfIssuer>UNITED THERAPEUTICS</nameOfIssuer>
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    <cusip>91307C102</cusip>
    <value>742307</value>
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      <sshPrnamt>1370</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>UNITEDHEALTH GRP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91324P102</cusip>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>13235</Sole>
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      <None>0</None>
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    <nameOfIssuer>VERA THERAPEUTICS</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>92337R101</cusip>
    <value>1097337</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25573</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>25573</Sole>
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      <None>0</None>
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    <nameOfIssuer>VERTEX PHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92532F100</cusip>
    <value>2698237</value>
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      <sshPrnamt>5432</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>5432</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CRESCENT BIOPHARMA INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G2545C104</cusip>
    <value>2183400</value>
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      <sshPrnamt>121300</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>34700</Sole>
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      <None>86600</None>
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  <infoTable>
    <nameOfIssuer>JAZZ PHARMA PLC</nameOfIssuer>
    <titleOfClass>SHS USD</titleOfClass>
    <cusip>G50871105</cusip>
    <value>421698</value>
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      <sshPrnamt>1750</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>1750</Sole>
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      <None>0</None>
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    <nameOfIssuer>MEDTRONIC PLC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G5960L103</cusip>
    <value>876345</value>
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      <sshPrnamt>11100</sshPrnamt>
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    <votingAuthority>
      <Sole>11100</Sole>
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      <None>0</None>
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    <nameOfIssuer>ROIVANT SCIENCES LTD</nameOfIssuer>
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    <cusip>G76279101</cusip>
    <value>2162329</value>
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      <sshPrnamt>61100</sshPrnamt>
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      <Sole>61100</Sole>
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    <nameOfIssuer>ROYALTY PHARMA PLC</nameOfIssuer>
    <titleOfClass>SHS CLASS A</titleOfClass>
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