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
AMBIT BIOSCIENCES CORP COM 02318X100 6,560 719,261 SH   DFND 1,2 719,261 0 0
ANTHERA PHARMACEUTICALS INC COM NEW 03674U201 4,587 1,369,237 SH   DFND 1,2 1,369,237 0 0
AVEO PHARMACEUTICALS INC COM 053588109 4,285 2,866,483 SH   DFND 1,2 2,866,483 0 0
CARA THERAPEUTICS INC COM 140755109 3,314 178,065 SH   DFND 1,2 178,065 0 0
CHEMOCENTRYX INC COM 16383L106 1,656 249,700 SH   DFND 1,2 249,700 0 0
CYTOKINETICS INC COM NEW 23282W605 2,993 315,000 SH   DFND 1,2 315,000 0 0
DERMA SCIENCES INC COM PAR $.01 249827502 11,729 925,000 SH   DFND 1,2 925,000 0 0
DIPEXIUM PHARMACEUTICALS INC COM 25456J104 2,520 250,000 SH   DFND 1,2 250,000 0 0
FURIEX PHARMACEUTICALS INC COM 36106P101 17,910 205,858 SH   DFND 1,2 205,858 0 0
HYPERION THERAPEUTICS INC COM 44915N101 12,739 493,751 SH   DFND 1,2 493,751 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 5,950 500,400 SH   DFND 1,2 500,400 0 0
KALOBIOS PHARMACEUTICALS INC COM 48344T100 1,455 536,894 SH   DFND 1,2 536,894 0 0
MANNKIND CORP COM 56400P201 2,199 546,900 SH   DFND 1,2 546,900 0 0
MANNKIND CORP COM 56400P201 1,005 250,000 SH Call DFND 1,2 250,000 0 0
MANNKIND CORP COM 56400P201 1,005 250,000 SH Call DFND 1,2 250,000 0 0
MANNKIND CORP COM 56400P201 109 27,000 SH Call DFND 1,2 27,000 0 0
MOMENTA PHARMACEUTICALS INC COM 60877T100 722 62,000 SH   DFND 1,2 62,000 0 0
NANOSPHERE INC COM 63009F105 2,753 1,280,309 SH   DFND 1,2 1,280,309 0 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 9,982 620,000 SH   DFND 1,2 620,000 0 0
OCERA THERAPEUTICS INC COM 67552A108 3,290 311,821 SH   DFND 1,2 311,821 0 0
ONCOGENEX PHARMACEUTICALS IN COM 68230A106 1,529 130,000 SH Call DFND 1,2 130,000 0 0
ONCOTHYREON INC COM 682324108 2,965 991,800 SH   DFND 1,2 991,800 0 0
OXYGEN BIOTHERAPEUTICS INC COM PAR $0.0001 69207P308 11,100 2,000,000 SH   DFND 1,2 2,000,000 0 0
PAIN THERAPEUTICS INC COM 69562K100 12,580 2,287,279 SH   DFND 1,2 2,287,279 0 0
PROTALIX BIOTHERAPEUTICS INC COM 74365A101 4,178 912,155 SH   DFND 1,2 912,155 0 0
PSIVIDA CORP COM 74440J101 1,162 283,313 SH   DFND 1,2 283,313 0 0
RECRO PHARMA INC COM 75629F109 4,246 580,000 SH   DFND 1,2 580,000 0 0
SOPHIRIS BIO INC COM NEW 83578Q209 4,995 1,500,000 SH   DFND 1,2 1,500,000 0 0
STREAMLINE HEALTH SOLUTIONS COM 86323X106 763 151,611 SH   DFND 1,2 151,611 0 0
SUNESIS PHARMACEUTICALS INC COM NEW 867328601 1,279 193,567 SH   DFND 1,2 193,567 0 0
SUNSHINE HEART INC COM 86782U106 4,246 727,000 SH   DFND 1,2 727,000 0 0
VERACYTE INC COM 92337F107 5,315 310,248 SH   DFND 1,2 310,248 0 0
VOLCANO CORPORATION COM 928645100 5,913 300,000 SH   DFND 1,2 300,000 0 0
ALCOBRA LTD SHS M2239P109 5,329 293,610 SH   DFND 1,2 293,610 0 0
ORTHOFIX INTL N V COM N6748L102 7,538 250,000 SH   DFND 1,2 250,000 0 0
ORTHOFIX INTL N V COM N6748L102 7,990 265,000 SH Put DFND 1,2 265,000 0 0
ALIMERA SCIENCES INC COM 016259103 11,835 1,500,000 SH   DFND 1,2 1,500,000 0 0
MEI PHARMA INC COM NEW 55279B202 1,755 157,661 SH   DFND 1 157,661 0 0