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    <nameOfIssuer>ABBOTT LABS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002824100</cusip>
    <value>1786846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18080</sshPrnamt>
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    <votingAuthority>
      <Sole>18080</Sole>
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      <None>0</None>
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    <nameOfIssuer>ABBVIE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00287Y109</cusip>
    <value>3217557</value>
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      <sshPrnamt>12300</sshPrnamt>
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    <votingAuthority>
      <Sole>12300</Sole>
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      <None>0</None>
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    <nameOfIssuer>ABIVAX SA</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>00370M103</cusip>
    <value>1441830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14561</sshPrnamt>
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      <Sole>14561</Sole>
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      <None>0</None>
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    <nameOfIssuer>ALNYLAM PHARMACUETCL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02043Q107</cusip>
    <value>1822175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7385</sshPrnamt>
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      <Sole>7385</Sole>
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      <None>0</None>
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    <nameOfIssuer>ALPHATEC HLDGS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>02081G201</cusip>
    <value>2540268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>246150</sshPrnamt>
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    <votingAuthority>
      <Sole>70250</Sole>
      <Shared>0</Shared>
      <None>175900</None>
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    <nameOfIssuer>ALX ONCOLOGY HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00166B105</cusip>
    <value>125100</value>
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      <sshPrnamt>90000</sshPrnamt>
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      <Sole>90000</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031162100</cusip>
    <value>3313069</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7860</sshPrnamt>
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      <Sole>7860</Sole>
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      <None>0</None>
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    <nameOfIssuer>APNIMED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03770Y107</cusip>
    <value>20643777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>942208</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>942208</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARCUS BIOSCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03969F109</cusip>
    <value>2994549</value>
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      <sshPrnamt>115933</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>46433</Sole>
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      <None>69500</None>
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    <nameOfIssuer>ARDELYX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039697107</cusip>
    <value>191862</value>
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      <sshPrnamt>56100</sshPrnamt>
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    <votingAuthority>
      <Sole>56100</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>ARGENX SE</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>04016X101</cusip>
    <value>2566043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2676</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>2676</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARRIVENT BIOPHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04272N102</cusip>
    <value>2644746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87343</sshPrnamt>
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    <votingAuthority>
      <Sole>28013</Sole>
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      <None>59330</None>
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    <nameOfIssuer>ARS PHARMACEUTICALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>82835W108</cusip>
    <value>173693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40300</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40300</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>ASCENDIS PHARMA A/S</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>K08588103</cusip>
    <value>585523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2570</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2570</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AVALO THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>05338F306</cusip>
    <value>2717917</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>57700</Sole>
      <Shared>0</Shared>
      <None>119594</None>
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    <nameOfIssuer>AXSOME THERAPEUTIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05464T104</cusip>
    <value>276585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>417878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1850</Sole>
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      <None>0</None>
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    <nameOfIssuer>BIOMARIN PHARMAC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09061G101</cusip>
    <value>567000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9450</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9450</Sole>
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      <None>0</None>
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    <nameOfIssuer>BIONTECH SE</nameOfIssuer>
    <titleOfClass>SP ADR</titleOfClass>
    <cusip>09075V102</cusip>
    <value>2967186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12680</Sole>
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      <None>17505</None>
    </votingAuthority>
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    <nameOfIssuer>BOSTON SCIENTIFIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>101137107</cusip>
    <value>642965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14730</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BRAVEHEART BIO INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>10567X101</cusip>
    <value>2418809</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119743</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35691</Sole>
      <Shared>0</Shared>
      <None>84052</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BRISTOL MYERS SQUIBB</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>110122108</cusip>
    <value>752606</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12061</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12061</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTENE CORP DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15135B101</cusip>
    <value>747925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12040</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12040</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONTINEUM THERAPEUTICS</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>21217B100</cusip>
    <value>9254258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>689587</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>689587</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CORBUS PHARMACEUTICALS HLDGS</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>21833P301</cusip>
    <value>190960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CRESCENT BIOPHARMA INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G2545C104</cusip>
    <value>2445284</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>56000</Sole>
      <Shared>0</Shared>
      <None>111600</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CVS HEALTH CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126650100</cusip>
    <value>1117483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13041</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CYTOKINETICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>23282W605</cusip>
    <value>1007698</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15289</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15289</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>DANAHER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>235851102</cusip>
    <value>2128905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9597</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9597</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DEXCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>252131107</cusip>
    <value>3212663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37231</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17381</Sole>
      <Shared>0</Shared>
      <None>19850</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EDWARDS LIFESCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>28176E108</cusip>
    <value>587321</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6804</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELEVANCE HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>036752103</cusip>
    <value>779973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2006</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ELI LILLY &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>532457108</cusip>
    <value>7710781</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6664</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6664</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENGENE THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29286X101</cusip>
    <value>43400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EYEPOINT INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>30233G209</cusip>
    <value>77499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>GENMAB A/S</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>372303206</cusip>
    <value>353183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>3674828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24655</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24655</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>GUARDANT HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40131M109</cusip>
    <value>353153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1980</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HUMANA INC</nameOfIssuer>
    <titleOfClass>INC</titleOfClass>
    <cusip>444859102</cusip>
    <value>478870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1255</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1255</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ILLUMINA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>452327109</cusip>
    <value>583486</value>
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      <None>0</None>
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      <sshPrnamt>7014</sshPrnamt>
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      <Sole>6660</Sole>
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      <None>15910</None>
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    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
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    <cusip>478160104</cusip>
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      <sshPrnamt>22758</sshPrnamt>
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    <votingAuthority>
      <Sole>22758</Sole>
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      <None>0</None>
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    <nameOfIssuer>KURA ONCOLOGY INC</nameOfIssuer>
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      <Sole>17050</Sole>
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      <None>0</None>
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    <nameOfIssuer>MEDTRONIC PLC</nameOfIssuer>
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    <cusip>G5960L103</cusip>
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      <Sole>11100</Sole>
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      <None>0</None>
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    <nameOfIssuer>MERCK &amp; CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58933Y105</cusip>
    <value>2985210</value>
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      <sshPrnamt>20460</sshPrnamt>
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    <votingAuthority>
      <Sole>20460</Sole>
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    <nameOfIssuer>MODERNA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>1020621</value>
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      <sshPrnamt>5300</sshPrnamt>
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      <Sole>5300</Sole>
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    <nameOfIssuer>NEKTAR THERAPEUTICS</nameOfIssuer>
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    <value>612171</value>
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      <sshPrnamt>10111</sshPrnamt>
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      <Sole>10111</Sole>
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    <nameOfIssuer>NEUROCRINE BIOSCIENCES</nameOfIssuer>
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    <nameOfIssuer>ORIC PHARMACEUTICALS</nameOfIssuer>
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      <sshPrnamt>23500</sshPrnamt>
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    <cusip>687604108</cusip>
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      <sshPrnamt>35349</sshPrnamt>
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      <Sole>14689</Sole>
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    <nameOfIssuer>PALISADE BIO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>57500</sshPrnamt>
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    <nameOfIssuer>PTC THERAPEUTICS INC</nameOfIssuer>
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    <nameOfIssuer>PULSE BIOSCIENCES INC</nameOfIssuer>
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    <nameOfIssuer>REVOLUTION MEDICINES</nameOfIssuer>
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    <cusip>76155X100</cusip>
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    <nameOfIssuer>ROIVANT SCIENCES LTD</nameOfIssuer>
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    <nameOfIssuer>UNIQURE N.V.</nameOfIssuer>
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    <cusip>N90064101</cusip>
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      <sshPrnamt>62425</sshPrnamt>
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</informationTable>
