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
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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
Alimera Sciences, Inc COM 016259103 257 184,827 SH   SOLE   184,827 0 0
Alere Inc. COM 01449J105 5,019 100,000 SH   SOLE   100,000 0 0
Amarin Corp PLC - SPONS ADR SPONS ADR 023111206 302 75,000 SH   SOLE   75,000 0 0
Avadel Pharmaceuticals PLC SPONS ADR 05337M104 8,249 747,863 SH   SOLE   747,863 0 0
Biodelivery Sciences INTL COM 09060J106 9,737 3,477,673 SH   SOLE   3,477,673 0 0
Biospecifics Technologies Co. COM 090931106 2,965 59,878 SH   SOLE   59,878 0 0
CAS Medical Systems Inc COM PAR 124769209 1,044 900,366 SH   SOLE   900,366 0 0
CAREDX, Inc. COM 14167L103 212 190,909 SH   SOLE   190,909 0 0
Corium International, Inc. COM 21887L107 3,085 413,568 SH   SOLE   413,568 0 0
Cumberland Pharmaceuticals, Inc. COM 230770109 7,764 1,109,167 SH   SOLE   1,109,167 0 0
Cardiome Pharma Corp COM 14159U301 7,212 1,595,549 SH   SOLE   1,595,549 0 0
CTI Biopharmap Corp. COM 12648L601 7,561 2,284,381 SH   SOLE   2,284,381 0 0
Cutera Inc. COM 232109108 4,533 175,000 SH   SOLE   175,000 0 0
Depomed Inc. COM 249908104 1,360 126,600 SH   SOLE   126,600 0 0
Durect Corporation COM 266605104 4,955 3,175,994 SH   SOLE   3,175,994 0 0
Enanta Pharmaceuticals COM 29251M106 17,712 492,265 SH   SOLE   492,265 0 0
Foamix Pharmaceuticals Ltd. SHS M46135105 13 2,878 SH   SOLE   2,878 0 0
Neos Therapeutics, Inc. COM 64052L106 4,125 565,100 SH   SOLE   565,100 0 0
Novelion Therapeutics, Inc. COM 67001K202 17,098 1,852,395 SH   SOLE   1,852,395 0 0
Ophthotech Corp COM 683745103 9,155 3,576,189 SH   SOLE   3,576,189 0 0
Recro Pharma, Inc. COM 75629F109 12,863 1,829,669 SH   SOLE   1,829,669 0 0
Sciclone Pharmaceuticals, Inc. COM 80862K104 2,379 216,307 SH   SOLE   216,307 0 0
Trinity Biotech PLC - SPON ADR SPONS ADR 896438306 1,872 311,994 SH   SOLE   311,994 0 0
Vericel Corp COM 92346J108 9,836 2,980,570 SH   SOLE   2,980,570 0 0
Veracyte, Inc. COM 92337F107 7,203 864,695 SH   SOLE   864,695 0 0
Viveve Medical, Inc COM 92852W204 27,513 3,849,711 SH   SOLE   3,849,711 0 0
VANDA PHARMACEUTICALS INC COM 921659108 11,167 685,086 SH   SOLE   685,086 0 0