SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* LEHMAN BROTHERS HOLDINGS INC (Last) (First) (Middle) 1271 AVENUE OF THE AMERICAS (Street) NEW YORK NY 10020 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol DERMA SCIENCES, INC. [ DSCI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 02/06/2012
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/06/2012		S		250,000	D	$8.29	803,570(1)(2)(3)(4)(5)(6)	I	By LB I Group Inc.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants (right to buy Common Stock)	$1.2(7)	02/06/2012(8)		J(8)		0(8)		04/02/2008	04/01/2013	Common Stock	325,893(1)(2)(3)(4)(5)(7)	(9)	325,893(1)(2)(3)(4)(5)(7)	I	By LB I Group Inc.

Explanation of Responses:

1. Other than (i) the shares of common stock actually owned by LB I Group Inc. and (ii) the shares of common stock issuable upon the exercise of warrants held by LB I Group Inc., the Reporting Person is unable to confirm whether or not it is the beneficial owner of any additional shares of the Issuer's common stock that may or may not be actually owned by any of the Reporting Person's other affiliates. On September 15, 2008, the Reporting Person, and at later dates a number of its affiliates, filed voluntary petitions for relief under Chapter 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court")

2. (Continuation of Footnote 1) - in a jointly administered proceeding captioned In re Lehman Brothers Holdings Inc., et. al. under Case No. 08-13555. On September 19, 2008, the Securities Investor Protection Corporation under the Securities Investor Protection Act of 1970, as amended ("SIPA") commenced a proceeding against Lehman Brothers Inc. ("LBI") in the United States District Court for the Southern District of New York (the "District Court") in the case captioned Securities Investors Protection Corporation v. Lehman Brothers Inc., Case No. 08-CIV-8119 (GEL). On September 19, 2008, the District Court entered the Order Commencing Liquidation (the "LBI Liquidation Order") pursuant to the provisions of SIPA. The LBI Liquidation Order provided, among other things, the appointment of James W. Giddens as trustee for the SIPA liquidation of LBI and removed the proceeding to the Bankruptcy Court under Case No. 08-1420 (JMP) SIPA.

3. (Continuation of Footnote 1) - The Reporting Person is unable to provide information on its beneficial ownership, if any, of the Issuer's common stock (other than the shares of common stock reported herein and the shares of common stock issuable upon exercise of the warrants reported herein) primarily due to (1) the commencement of various administrative or civil rehabilitation proceedings of subsidiaries comprising significant parts of the Reporting Person's European and Asian businesses, which have resulted in significant portions of the Reporting Person's securities trading records and systems being unavailable to, and non-accessible by, the Reporting Person, and (2) the sale since September 15, 2008 of significant businesses comprising the Reporting Person's historical business (the "Sale").

4. (Continuation of Footnote 1) - As a result of the Sale, and actions taken by certain creditors with respect to securities that had been pledged by the Reporting Person, or its affiliates, as collateral to those creditors, the Reporting Person cannot compile an accurate accounting of securities held. The Reporting Person is currently engaged in an expensive and time consuming process to reconcile discrepancies in information the Reporting Person has with respect to security holdings. Even with continued significant efforts and expense, the Reporting Person may not be able to provide a record of securities held.

5. LB I Group Inc., a direct subsidiary of Lehman ALI Inc., a direct subsidiary of the Reporting Person, is the owner of 803,570 shares of the Issuer's common stock and 325,893 shares of common stock issuable upon exercise of warrants. As a result of the LBI Liquidation Order and the appointment of Mr. Giddens as trustee, LBI is no longer an affiliate of the Reporting Person nor a joint filer and the Reporting Person can no longer be deemed to be the beneficial owner of any shares of the Issuer's common stock that may or may not be owned or controlled by LBI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein.

6. The amount of securities beneficially owned reflects a 1-for-8 reverse split of the Issuer's common stock effective February 1, 2010.

7. This warrant was previously reported as covering 2,607,140 shares of the Issuer's common stock at an exercise price of $9.60, but was adjusted to reflect a 1-for-8 reverse split of the Issuer's common stock effective February 1, 2010.

8. This warrant is included in this Form 4 to reflect the stock split referenced in footnote 7. Such warrant is held by LB I Group Inc. and is not the subject of any acquisition or disposition.

9. Not applicable.

Remarks:

	/s/ William Fox, Executive Vice President and Chief Financial Officer	02/08/2012
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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