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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)*
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)
April 25, 2003
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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) (and Rule 13d-2(d) for this
amendment)
[_] 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 4
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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
1,380,000
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6. Shared Voting Power
Number of Shares
Beneficially Owned 0
By Each Reporting -----------------------------------------------------
Person With: 7. Sole Dispositive Power
1,380,000
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8. Shared Dispositive Power
0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,380,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (9)
17.7%
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12. Type of Reporting Person (See Instructions)
CO
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CUSIP Number 09060J106
Page 3 of 4
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, 2003, the date on
which the Reporting Person's Class A warrants to purchase a total
of 690,000 shares of the Issuer's common stock became exercisable
within 60 days. Accordingly, as of April 25, 2003 the
CUSIP Number 09060J106
Page 4 of 4
Reporting Person no longer disclaims beneficial ownership of the
common stock issuable upon exercise of the Class A warrants held
by the Reporting Person.
(b) Percent of Class: See Row (11) on Page 2. As of April 25, 2003,
the Reporting Person beneficially owned in the aggregate
approximately 17.7% of the Issuer's common stock based on
7,085,863 shares outstanding as of March 20, 2003 as reported in
the Issuer's Form 10-KSB filed with the SEC on March 28, 2003.
(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
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: May 1, 2003
Pharmaceutical Product Development, Inc.
By: /s/ Fred Davenport (SEAL)
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Name: Fred Davenport
Title: President