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
Achillion Pharmaceuticals Inc. COM 00448Q201 12,614 1,279,340 SH   DFND 3 1,279,340 0 0
Agios Pharmaceuticals Inc. COM 00847X104 174,448 1,849,921 SH   DFND 3 1,849,921 0 0
Alexion Pharmaceuticals Inc. COM 015351109 116,532 672,428 SH   DFND 2 672,428 0 0
Alnylam Pharmaceuticals Inc. COM 02043Q107 87,243 835,499 SH   DFND 3 835,499 0 0
Celgene Corp. COM 151020104 409,739 3,554,298 SH   DFND 2 3,554,298 0 0
Cempra Inc. COM 15130J109 41,961 1,223,000 SH   DFND 3 1,223,000 0 0
Clovis Oncology Inc. COM 189464100 45,888 618,188 SH   DFND 3 618,188 0 0
Gilead Sciences Inc. COM 375558103 281,201 2,865,596 SH   DFND 1 2,865,596 0 0
Halozyme Therapeutics Inc. COM 40637H109 91,726 6,423,370 SH   DFND 3 6,423,370 0 0
ImmunoGen Inc. COM 45253H101 25,425 2,840,816 SH   DFND 3 2,840,816 0 0
Incyte Corp. COM 45337C102 347,563 3,791,867 SH   DFND 3 3,791,867 0 0
Infinity Pharmaceuticals Inc. COM 45665G303 36,638 2,620,737 SH   DFND 3 2,620,737 0 0
Intercept Pharmaceuticals COM 45845P108 43,713 155,000 SH   DFND 3 155,000 0 0
Isis Pharmaceuticals Inc. COM 464330109 364,793 5,729,426 SH   DFND 3 5,729,426 0 0
Medivation Inc. COM 58501N101 164,526 1,274,706 SH   DFND 3 1,274,706 0 0
Neurocrine Biosciences Inc. COM 64125C109 127,134 3,201,552 SH   DFND 3 3,201,552 0 0
Novavax Inc. COM 670002104 69,882 8,450,000 SH   DFND 3 8,450,000 0 0
PTC Therapeutics Inc. COM 69366J200 71,676 1,177,912 SH   DFND 3 1,177,912 0 0
Puma Biotechnology Inc. COM 74587V107 123,247 521,991 SH   DFND 3 521,991 0 0
Radius Health Inc. COM 750469207 153,203 3,722,140 SH   DFND 4 3,722,140 0 0
Receptos Inc. COM 756207106 104,750 635,272 SH   DFND 3 635,272 0 0
Regeneron Pharmaceuticals Inc. COM 75886F107 89,393 198,000 SH   DFND 2 198,000 0 0
Synageva BioPharma Corp. COM 87159A103 100,015 1,025,476 SH   DFND 3 1,025,476 0 0
Tesaro Inc. COM 881569107 49,053 854,582 SH   DFND 3 854,582 0 0
Tetraphase Pharmaceuticals Inc. COM 88165N105 54,121 1,477,114 SH   DFND 3 1,477,114 0 0
Theravance Inc. COM 88338T104 13,073 831,594 SH   DFND 3 831,594 0 0
Vertex Pharmaceuticals Inc. COM 92532F100 157,424 1,334,445 SH   DFND 3 1,334,445 0 0