The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Aegerion Pharmaceuticals, Inc. NOTE 00767EAB8 15,957 24,200,000 PRN   SOLE   0 0 0
Alimera Sciences, Inc COM 016259103 2,842 1,907,190 SH   SOLE   1,907,190 0 0
Alere Inc. COM 01449J105 12,395 286,651 SH   SOLE   286,651 0 0
Aviragen Therapeutics, Inc. COM 053761102 667 347,440 SH   SOLE   347,440 0 0
Cumberland Pharmaceuticals, Inc. COM 230770109 1,622 323,747 SH   SOLE   323,747 0 0
Cardiome Pharma Corp COM 14159U301 6,006 1,918,722 SH   SOLE   1,918,722 0 0
Cutera, Inc. COM 232109108 4,768 400,000 SH   SOLE   400,000 0 0
Durect Corporation COM 266605104 2,288 1,646,170 SH   SOLE   1,646,170 0 0
Derma Sciences, Inc. COM 249827502 458 98,064 SH   SOLE   98,064 0 0
Juniper Pharmaceuticals, Inc. COM 48203L107 966 173,967 SH   SOLE   173,967 0 0
Pacira Pharmaceuticals, Inc. COM 695127100 51 1,500 SH   SOLE   1,500 0 0
Pernix Therapeutics Holdings NOTE 71426VAK4 1,564 6,000,000 PRN   SOLE   0 0 0
QLT Inc. COM 746927102 11,904 5,778,496 SH   SOLE   5,778,496 0 0
Recro Pharma, Inc. COM 75629F109 10,348 1,170,600 SH   SOLE   1,170,600 0 0
Tobira Therapeutics, Inc. COM 88883P101 29,158 733,718 SH   SOLE   733,718 0 0
Vericel Corp COM 92346J108 2,865 1,023,048 SH   SOLE   1,023,048 0 0
Viveve Medical, Inc COM 92852W204 18,770 2,599,711 SH   SOLE   2,599,711 0 0