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 11,335 1,279,340 SH   DFND 3 1,279,340 0 0
Agios Pharmaceuticals Inc. COM 00847X104 221,160 1,989,921 SH   DFND 3 1,989,921 0 0
Alder Biopharmaceuticals COM 014339105 61,188 1,155,150 SH   DFND 3 1,155,150 0 0
Alexion Pharmaceuticals Inc. COM 015351109 140,536 777,428 SH   DFND 2 777,428 0 0
Alnylam Pharmaceuticals Inc. COM 02043Q107 115,734 965,499 SH   DFND 3 965,499 0 0
Celgene Corp. COM 151020104 412,514 3,564,298 SH   DFND 2 3,564,298 0 0
Cempra Inc. COM 15130J109 60,711 1,766,900 SH   DFND 3 1,766,900 0 0
Clovis Oncology Inc. COM 189464100 54,326 618,188 SH   DFND 3 618,188 0 0
Gilead Sciences Inc. COM 375558103 317,942 2,715,596 SH   DFND 1 2,715,596 0 0
Halozyme Therapeutics Inc. COM 40637H109 137,222 6,077,168 SH   DFND 3 6,077,168 0 0
Incyte Corp. COM 45337C102 389,788 3,740,406 SH   DFND 3 3,740,406 0 0
Infinity Pharmaceuticals Inc. COM 45665G303 29,573 2,700,737 SH   DFND 3 2,700,737 0 0
Intercept Pharmaceuticals COM 45845P108 43,622 180,719 SH   DFND 3 180,719 0 0
Isis Pharmaceuticals Inc. COM 464330109 341,238 5,929,426 SH   DFND 3 5,929,426 0 0
Juno Therapeutics, Inc. COM 48205A109 23,999 450,000 SH   DFND 3 450,000 0 0
Kite Pharma, Inc. COM 49803L109 21,340 350,000 SH   DFND 3 350,000 0 0
Medivation Inc. COM 58501N101 147,381 1,290,556 SH   DFND 3 1,290,556 0 0
Neurocrine Biosciences Inc. COM 64125C109 153,861 3,221,552 SH   DFND 3 3,221,552 0 0
Novavax Inc. COM 670002104 91,125 8,180,000 SH   DFND 3 8,180,000 0 0
PTC Therapeutics Inc. COM 69366J200 60,303 1,252,912 SH   DFND 3 1,252,912 0 0
Puma Biotechnology Inc. COM 74587V107 60,942 521,991 SH   DFND 3 521,991 0 0
Radius Health Inc. COM 750469207 265,529 3,922,140 SH   DFND 4 3,922,140 0 0
Receptos Inc. COM 756207106 126,435 665,272 SH   DFND 3 665,272 0 0
Regeneron Pharmaceuticals Inc. COM 75886F107 101,006 198,000 SH   DFND 2 198,000 0 0
Tesaro Inc. COM 881569107 53,180 904,582 SH   DFND 3 904,582 0 0
Tetraphase Pharmaceuticals Inc. COM 88165N105 71,497 1,507,114 SH   DFND 3 1,507,114 0 0
Theravance Biopharma Inc. COM G8807B106 4,677 359,190 SH   DFND 3 359,190 0 0
Theravance Inc. COM 88338T104 5,992 331,594 SH   DFND 3 331,594 0 0
Vertex Pharmaceuticals Inc. COM 92532F100 164,777 1,334,445 SH   DFND 3 1,334,445 0 0