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
Akari Therapeutics Plc COM 00972G108 2,217 158,352 SH   SOLE   158,352 0 0
Alcobra Ltd COM M2239P109 1,836 484,500 SH   SOLE   484,500 0 0
Anacor Pharmaceuticals Inc COM 032420101 7,523 140,756 SH   SOLE   140,756 0 0
ARCA biopharma Inc COM 00211Y100 1,605 462,399 SH   SOLE   462,399 0 0
Ascendis Pharma A/S COM 04351P101 1,670 90,000 SH   SOLE   90,000 0 0
Avalanche Biotechnologies Inc COM 05337G107 5,701 1,102,735 SH   SOLE   1,102,735 0 0
Axovant Sciences Ltd COM G0750W104 2,114 184,110 SH   SOLE   184,110 0 0
BioCryst Pharmaceuticals Inc COM 09058V103 1,593 562,943 SH   SOLE   562,943 0 0
BeiGene Ltd COM 07725L102 1,495 51,000 SH   SOLE   51,000 0 0
Coherus Biosciences Inc COM 19249H103 12,972 611,010 SH   SOLE   611,010 0 0
Cynapsus Therapeutics Inc COM 23257Y701 1,317 108,575 SH   SOLE   108,575 0 0
CytomX Therapeutics Inc COM 23284F105 828 64,200 SH   SOLE   64,200 0 0
DBV Technologies COM F2927N109 29,018 456,893 SH   SOLE   456,893 0 0
Edge Therapeutics Inc COM 279870109 1,235 135,000 SH   SOLE   135,000 0 0
Flamel Technologies S.A. COM 338488109 5,520 500,000 SH   SOLE   500,000 0 0
Global Blood Therapeutics COM 37890U108 1,158 72,990 SH   SOLE   72,990 0 0
Heron Therapeutics Inc COM 427746102 20,808 1,095,734 SH   SOLE   1,095,734 0 0
Lipocine Inc COM 53630X104 8,627 849,921 SH   SOLE   849,921 0 0
Ocera Therapeutics COM 67552A108 2,342 796,550 SH   SOLE   796,550 0 0
ProNAI Therapeutics Inc COM 74346L101 378 56,056 SH   SOLE   56,056 0 0
REGENXBIO Inc COM 75901B107 567 52,500 SH   SOLE   52,500 0 0
Stemline Therapeutics Inc COM 85858C107 631 135,420 SH   SOLE   135,420 0 0
Zafgen Inc COM 98885E103 4,022 602,114 SH   SOLE   602,114 0 0