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 8,840 1,279,340 SH   DFND 3 1,279,340 0 0
Agios Pharmaceuticals Inc. COM 00847X104 148,939 2,109,921 SH   DFND 3 2,109,921 0 0
Alder Biopharmaceuticals COM 014339105 49,473 1,510,150 SH   DFND 3 1,510,150 0 0
Alexion Pharmaceuticals Inc. COM 015351109 161,774 1,034,428 SH   DFND 2 1,034,428 0 0
Alnylam Pharmaceuticals Inc. COM 02043Q107 91,008 1,132,499 SH   DFND 3 1,132,499 0 0
Celgene Corp. COM 151020104 388,254 3,589,298 SH   DFND 2 3,589,298 0 0
Cempra Inc. COM 15130J109 52,670 1,891,900 SH   DFND 3 1,891,900 0 0
Clovis Oncology Inc. COM 189464100 56,849 618,188 SH   DFND 3 618,188 0 0
Esperion Therapeutics COM 29664W105 21,433 908,542 SH   DFND 3 908,542 0 0
Gilead Sciences Inc. COM 375558103 272,438 2,774,596 SH   DFND 1 2,774,596 0 0
Halozyme Therapeutics Inc. COM 40637H109 93,068 6,929,832 SH   DFND 3 6,929,832 0 0
Incyte Corp. COM 45337C102 413,782 3,750,406 SH   DFND 3 3,750,406 0 0
Infinity Pharmaceuticals Inc. COM 45665G303 22,821 2,700,737 SH   DFND 3 2,700,737 0 0
Intercept Pharmaceuticals COM 45845P108 34,950 210,719 SH   DFND 3 210,719 0 0
Isis Pharmaceuticals Inc. COM 464330109 268,180 6,634,838 SH   DFND 3 6,634,838 0 0
Juno Therapeutics, Inc. COM 48205A109 53,100 1,305,000 SH   DFND 3 1,305,000 0 0
Kite Pharma, Inc. COM 49803L109 41,760 750,000 SH   DFND 3 750,000 0 0
Medivation Inc. COM 58501N101 109,697 2,581,112 SH   DFND 3 2,581,112 0 0
Neurocrine Biosciences Inc. COM 64125C109 126,196 3,171,552 SH   DFND 3 3,171,552 0 0
Novavax Inc. COM 670002104 58,893 8,330,000 SH   DFND 3 8,330,000 0 0
Prothena Corp. PLC COM G72800108 14,509 320,000 SH   DFND 3 320,000 0 0
PTC Therapeutics Inc. COM 69366J200 34,788 1,302,912 SH   DFND 3 1,302,912 0 0
Puma Biotechnology Inc. COM 74587V107 39,337 521,991 SH   DFND 3 521,991 0 0
Radius Health Inc. COM 750469207 296,102 4,272,140 SH   DFND 4 4,272,140 0 0
Regeneron Pharmaceuticals Inc. COM 75886F107 95,354 205,000 SH   DFND 2 205,000 0 0
Tesaro Inc. COM 881569107 46,299 1,154,582 SH   DFND 3 1,154,582 0 0
Tetraphase Pharmaceuticals Inc. COM 88165N105 11,057 1,482,114 SH   DFND 3 1,482,114 0 0
Vertex Pharmaceuticals Inc. COM 92532F100 142,197 1,365,445 SH   DFND 3 1,365,445 0 0