SC 13G 1 sc13g_081406-given.txt SCHEDULE 13G SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. )* Given Imaging Ltd. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 2797140 ___ -------------------------------------------------------------------------------- (CUSIP Number) May 30, 2006 -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |X| Rule 13d-1(b) |_| Rule 13d-1(c) |_| Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 CUSIP No. 068750V102 ---------------------------- -------------------------------------------------------------------------------- 1) Names of Reporting Person S.S. or I.R.S. Identification No. of Above Person Samuel D. Isaly ----------------------------------------------------------------- ----------------------------------------------------------------- -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) ------------------------------------------------------------- (b) ------------------------------------------------------------- -------------------------------------------------------------------------------- 3) SEC Use Only 4) Citizenship or Place of Organization United States --------------------- (5) Sole Voting Power 0 --------------------- Number of Shares ----------------------------------------------------- Beneficially (6) Shared Voting Power 3,637,255 Owned by Each --------------------- Reporting Person ----------------------------------------------------- With (7) Sole Dispositive Power 0 --------------------- ----------------------------------------------------- (8) Shared Dispositive Power 3,637,255 --------------------- ----------------------------------------------------- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 3,637,255 --------------------- -------------------------------------------------------------------------------- 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ---------------------------------------------- -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row 9 13.31% ---------------- -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) IN ---------------- -------------------------------------------------------------------------------- Page 2 CUSIP No. 068750V102 ---------------------------- -------------------------------------------------------------------------------- 1) Names of Reporting Person S.S. or I.R.S. Identification No. of Above Person OrbiMed Advisors LLC ----------------------------------------------------------------- ----------------------------------------------------------------- -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) ------------------------------------------------------------- (b) ------------------------------------------------------------- -------------------------------------------------------------------------------- 3) SEC Use Only 4) Citizenship or Place of Organization Delaware --------------------- (5) Sole Voting Power 0 --------------------- Number of Shares ----------------------------------------------------- Beneficially (6) Shared Voting Power 898,597 Owned by Each --------------------- Reporting Person ----------------------------------------------------- With (7) Sole Dispositive Power 0 --------------------- ----------------------------------------------------- (8) Shared Dispositive Power 898,597 --------------------- ----------------------------------------------------- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 898,597 --------------------- -------------------------------------------------------------------------------- 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ---------------------------------------------- -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row 9 3.29% ---------------- -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) IA ---------------- -------------------------------------------------------------------------------- Page 3 CUSIP No. 068750V102 ---------------------------- -------------------------------------------------------------------------------- 1) Names of Reporting Person S.S. or I.R.S. Identification No. of Above Person OrbiMed Capital LLC ----------------------------------------------------------------- ----------------------------------------------------------------- -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) ------------------------------------------------------------- (b) ------------------------------------------------------------- -------------------------------------------------------------------------------- 3) SEC Use Only 4) Citizenship or Place of Organization Delaware --------------------- (5) Sole Voting Power 0 --------------------- Number of Shares ----------------------------------------------------- Beneficially (6) Shared Voting Power 2,738,658 Owned by Each --------------------- Reporting Person ----------------------------------------------------- With (7) Sole Dispositive Power 0 --------------------- ----------------------------------------------------- (8) Shared Dispositive Power 2,738,658 --------------------- ----------------------------------------------------- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 2,738,658 --------------------- -------------------------------------------------------------------------------- 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ---------------------------------------------- -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row 9 10.02% ---------------- -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) CO ---------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Page 4 Item 1(a). Name of Issuer: Given Imaging Ltd. Item 1(b). Address of Issuer's Principal Executive Offices: 2 Ha Carmel Street, New Industrial Park, Yoqneam, Israel 020692 Item 2(a). Name of Person Filing: Samuel D. Isaly OrbiMed Advisors LLC OrbiMed Capital LLC Item 2(b). Address of Principal Business Office or, if none, Residence: 767 Third Avenue, 30th Floor New York, New York 10017 Item 2(c). Citizenship: Please refer to Item 4 on each cover sheet for each reporting person. Item 2(d). Title of Class of Securities: Common Stock Item 2(e). CUSIP Number: 068750V102 Page 5 Item 3. OrbiMed Advisors LLC and OrbiMed Capital LLC are investment advisors in accordance with ss.240.13d-1(b)(1)(ii)(E). Samuel D. Isaly is a control person in accordance with ss.240.13d-1(b)(1)(ii)(G). Item 4. Ownership. (a) Amount Beneficially Owned: See Item 9 of each coversheet for each reporting person (b) Percent of Class: See Item 11 of each coversheet for each reporting person (c) Number of shares as to which such person has:

(i) sole power to vote or to direct the vote See Item 5 of each coversheet for each reporting person (ii) shared power to vote or to direct the vote See Item 6 of each coversheet for each reporting person (iii) sole power to dispose or to direct the See Item 7 of each coversheet for disposition of each reporting person (iv) shared power to dispose or to direct the See Item 8 of each coversheet disposition of for each reporting person

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Reporting persons are holding 13.31% (3.29% in the case of OrbiMed Advisors LLC and 10.02% in the case of OrbiMed Capital LLC) of the securities on behalf of other persons who have the right to receive or the power to direct the receipt of dividends from, or proceeds from sale of, such securities. OrbiMed Advisors LLC and OrbiMed Capital LLC hold shares on behalf of Caduceus Private Investments, LP (2,252,889 shares), OrbiMed Associates LLC (82,314 shares), UBS Juniper Crossover Fund, LLC (330,000 shares), Eaton Vance Worldwide Health Sciences (486,223 shares), and Finsbury Worldwide Pharmaceutical Trust plc (485,769 shares). Caduceus Private Investments, LP's interest in the securities whose ownership is reported here relates to more than five percent of the class. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable Item 8. Identification and Classification of Members of the Group. Not applicable Item 9. Notice of Dissolution of Group. Not applicable Page 6 Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: August 14, 2006 SAMUEL D. ISALY By: /s/ Samuel D. Isaly ---------------------------- Samuel D. Isaly ORBIMED ADVISORS LLC By: /s/ Samuel D. Isaly ---------------------------- Samuel D. Isaly Managing Member ORBIMED CAPITAL LLC By: /s/ Samuel D. Isaly ----------------------------- Samuel D. Isaly Managing Member Page 7 JOINT FILING AGREEMENT The undersigned hereby agree that the Statement on Schedule 13G, dated August 14, 2006, (the "Schedule 13G"), with respect to the Common Stock, NIS 0.05 par value per share, of Given Imaging Ltd. is, and any amendments thereto executed by each of us shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(f) under the Securities and Exchange Act of 1934, as amended, and that this Agreement shall be included as an Exhibit to the Schedule 13G and each such amendment. Each of the undersigned agrees to be responsible for the timely filing of the Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning itself contained therein. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the 14th day of August, 2006. SAMUEL D. ISALY ORBIMED ADVISORS LLC /s/ Samuel D. Isaly /s/ Samuel D. Isaly --------------------------- --------------------------- Name: Samuel D. Isaly Title: President ORBIMED CAPITAL LLC /s/ Samuel D. Isaly --------------------------- Name: Samuel D. Isaly Title: President Page 8 STATEMENT OF CONTROL PERSON The Statement on this Schedule 13G dated August 14, 2006 with respect to the Common Stock, NIS 0.05 par value per share, of Given Imaging Ltd. is filed by Samuel D. Isaly in accordance with the provisions of Rule 13d-1(b) and Rule 13d-1(k),respectively, as control person (HC) of OrbiMed Advisors LLC and OrbiMed Capital LLC. OrbiMed Advisors LLC and OrbiMed Capital LLC file this statement on Schedule 13G in accordance with the provisions of Rule 13d-1(b) and Rule 13d-1(k), respectively, as investment advisors (IA). Page 9