UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. ____)*
BIODELIVERY SCIENCES INTERNATIONAL, INC
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
09060J106
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(CUSIP Number)
June 25, 2002
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] 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 disclosures provided in a prior cover page.
The information required on 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).
CUSIP Number 09060J106
Page 2 of 5
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
Pharmaceutical Product Development, Inc.
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2. Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) [_]
(b) [_]
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3. SEC Use Only
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4. Citizenship or Place of Organization
North Carolina
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5. Sole Voting Power
Number of 690,000
Shares -----------------------------------------------------------
6. Shared Voting Power
Beneficially
Owned by 0
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Each 7. Sole Dispositive Power
Reporting 690,000
Person -----------------------------------------------------------
8. Shared Dispositive Power
With: 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
690,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
X
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11. Percent of Class Represented by Amount in Row (9)
9.9%
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12. Type of Reporting Person (See Instructions)
CO
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CUSIP Number 09060J106
Page 3 of 5
Item 1(a). Name of Issuer
BioDelivery Sciences International, Inc. (the "Issuer")
Item 1(b). Address of the Issuer's Principal Executive Office
University of Medicine and Dentistry New Jersey Medical School
Administrative Building 4
185 South Orange Avenue
Newark, New Jersey 07103
Item 2(a). Name of Person Filing
Pharmaceutical Product Development, Inc. ("PPD")
Item 2(b). Address of the Filing Person's Principal Business Office:
The address of the principal business office of PPD is:
3151 South 17/th/ Street
Wilmington, North Carolina 28412
Item 2(c). Place of Organization
North Carolina
Item 2(d). Title of Class of Securities
Common Stock
Item 2(e). Cusip Number
09060J106
Item 3. Filing Pursuant to Rules 13d-1(b) or 13d-2(b)
Not Applicable
Item 4. Ownership
(a) Amount Beneficially Owned: See Row (9) on Page 2. Reported share
ownership on this Schedule 13G represents amounts beneficially
owned by the Reporting Person as of June 25, 2002, the date on
which the Reporting Person acquired 690,000 units of the Issuer's
securities in connection with the Issuer's public offering. Each
unit consists of one share of the Issuer's common stock and one
Class A warrant to purchase one share of the Issuer's common
stock. As of the date of the filing of this Schedule 13G, the
Reporting Person disclaims beneficial ownership of the common
stock issuable upon exercise of the Class A warrants
CUSIP Number 09060J106
Page 4 of 5
held by the Reporting Person because such warrants are not
exercisable until June 24, 2003.
(b) Percent of Class: See Row (11) on Page 2. As of June 25, 2002,
the Reporting Person beneficially owned in the aggregate
approximately 9.9% of the Issuer's common stock based on
7,000,862 shares outstanding on that date as reported in the
Issuer's final prospectus dated June 24, 2002 covering the sale
of the units.
(c) Sole Power vs. Shared Power to Vote and Dispose of Shares: See
Rows (5)-(8) on Page 2.
Item 5. Ownership of Five Percent or Less of a Class
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not Applicable
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
CUSIP Number 09060J106
Page 5 of 5
Item 10. Certification
By signing below, the undersigned hereby certifies that, to the best
of its knowledge and belief, the securities reported herein 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 such securities
and were not acquired in connection with or as a participant in any
transaction having such purpose or effect. After reasonable inquiry
and to the best of its knowledge and belief, the undersigned certifies
that the information set forth in this statement is true, complete and
correct.
Dated: July 9, 2002
Pharmaceutical Product Development, Inc.
By: /s/ Fred B. Davenport, Jr. ___ (SEAL)
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Name: Fred B. Davenport, Jr.
Title: President