SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(a) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(a)(1)
XTL BIOPHARMACEUTICALS LTD.
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(Name of Issuer)
AMERICAN DEPOSITORY RECEIPTS,
EACH REPRESENTING TEN ORDINARY SHARES, PAR VALUE NIS 0.02
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(TITLE OF CLASS OF SECURITIES)
98386D109
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(CUSIP NUMBER)
JOSEPH EDELMAN, 499 PARK AVENUE, 25TH FLOOR, NEW YORK, NY 10022, (646) 205-5300
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
TO RECEIVE NOTICE AND COMMUNICATIONS)
MARCH 14, 2008
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(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the Schedule, including all exhibits. SEE Rule 13d-7(b) for other
parties to whom copies are to be sent.
CUSIP No. 98386D109 13D Page 2 of 9 Pages
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1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
PERCEPTIVE ADVISORS LLC
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2.
CHECK THE APPROPRIATE BOX IF A GROUP*
(a)
(b) |X|
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3. SEC USE ONLY
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4.
SOURCES OF FUNDS
OO (Funds from Investment Advisory Clients).
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5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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6.
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER OF 7.
SHARES SOLE VOTING POWER
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BENEFICIALLY 8.
OWNED BY SHARED VOTING POWER 58,618,420
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EACH 9.
REPORTING SOLE DISPOSITIVE POWER
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PERSON WITH 10.
SHARED DISPOSITIVE POWER 58,618,420
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11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 58,618,420
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12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
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13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 20.03%
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14.
TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 98386D109 13D Page 3 of 9 Pages
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1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
JOSEPH EDELMAN
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2.
CHECK THE APPROPRIATE BOX IF A GROUP* (a)
(b) |X|
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3. SEC USE ONLY
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4.
SOURCES OF FUNDS
OO
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5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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6.
CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF 7.
SHARES SOLE VOTING POWER 0
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BENEFICIALLY 8.
OWNED BY SHARED VOTING POWER 58,618,420
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EACH 9.
REPORTING SOLE DISPOSITIVE POWER 0
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PERSON WITH 10.
SHARED DISPOSITIVE POWER 58,618,420
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11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 58,618,420
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12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
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13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 20.03%
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14.
TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 98386D109 13D Page 4 of 9 Pages
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15.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
MICHAEL CHO
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16.
CHECK THE APPROPRIATE BOX IF A GROUP* (a)
(b) |X|
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17. SEC USE ONLY
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18.
SOURCES OF FUNDS
OO
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19.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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20.
CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF 21.
SHARES SOLE VOTING POWER
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BENEFICIALLY 22.
OWNED BY SHARED VOTING POWER 2,796,020
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EACH 23.
REPORTING SOLE DISPOSITIVE POWER
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PERSON WITH 24.
SHARED DISPOSITIVE POWER 2,796,020
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25.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,796,020
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26.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
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27.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 .95%
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28.
TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 98386D109 13D Page 5 of 9 Pages
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29.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SCOTT BRADLEY
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30.
CHECK THE APPROPRIATE BOX IF A GROUP* (a)
(b) |X|
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31. SEC USE ONLY
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32.
SOURCES OF FUNDS
OO
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33.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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34.
CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF 35.
SHARES SOLE VOTING POWER
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BENEFICIALLY 36.
OWNED BY SHARED VOTING POWER 1,010,000
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EACH 37.
REPORTING SOLE DISPOSITIVE POWER
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PERSON WITH 38.
SHARED DISPOSITIVE POWER 1,010,000
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39.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,010,000
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40.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
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41.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 .34%
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42.
TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 98386D109 13D Page 6 of 9 Pages
ITEM 1 SECURITY AND ISSUER
This Schedule 13D relates to the ordinary shares, par value NIS 0.02
(the "Ordinary Shares") (represented by ownership of American Depository
Receipts), of XTL Biopharmaceuticals Ltd. (the "Issuer"). The address of the
principal executive offices of the Issuer is 711 Executive Blvd., Suite Q,
Valley Cottage, NY 10989.
ITEM 2 IDENTITY AND BACKGROUND
(a) The names of the persons filing this Schedule 13D (the "Schedule") are
Perceptive Advisors LLC, a Delaware limited liability company (the "Investment
Manager"), Joseph Edelman, the Managing Member of the Investment Manager,
Michael Cho and Scott Bradley, principals of the Investment Manager. Such
reporting persons are collectively referred to herein as the "Reporting
Persons."
The Investment Manager, in its capacity as investment manager of
Perceptive Life Sciences Master Fund Ltd., a Cayman Islands company (the
"Fund"), and to an account at First New York Trading, LLC (the "FNY Account"),
has sole power to vote and dispose of the Ordinary Shares held by the Fund and
the FNY Account. The Investment Manager disclaims any economic interest in or
beneficial ownership of the Ordinary Shares covered by this Schedule.
(b) The business address of the Reporting Persons is 499 Park Avenue, 25th
Floor, New York, NY 10022.
(c) This Schedule is filed on behalf of the Investment Manager, Mr. Edelman, Mr.
Cho, Mr. Bradley, the FNY Account and the Fund. The Fund and the FNY Account are
the record and direct beneficial owners of the Ordinary Shares reported herein.
The Investment Manager is the investment manager to the Fund and the FNY
Account. Mr. Edelman is the Managing Member of the Investment Manager and Mssrs.
Cho and Bradley are principals of the Investment Manager. The principal business
of the Investment Manager is purchasing, holding and selling securities for
investment purposes. The principal business of each of the Fund and the FNY
Account is to invest in securities.
(d) During the past five years none of the Reporting Persons has been convicted
in a criminal proceeding.
(e) During the past five years none of the Reporting Persons has been a party to
a civil proceeding as a result of which it is subject to a judgment, decree or
final order enjoining it from or mandating activities subject to federal or
state securities laws, or finding it in violation of such laws.
(f) Perceptive Advisors LLC is organized under the laws of Delaware, USA. Each
of Mssrs. Edelman, Cho and Bradley is a citizen of the United States of America.
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Fund and the FNY Account purchased the Ordinary Shares in open
market transactions.
CUSIP No. 98386D109 13D Page 7 of 9 Pages
ITEM 4 PURPOSE OF TRANSACTION
The Reporting Persons purchased the Ordinary Shares of the Issuer in
the ordinary course of business.
The Reporting Persons expect to acquire or dispose of additional
Ordinary Shares via open-market transactions from time to time. However, there
is no timetable or pre-arranged plan related to the purchase or sale of
additional Ordinary Shares. Such decisions will be made based on trading
activity and the relative value of the Ordinary Shares, as defined by market
conditions.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
(a)-(b) The Reporting Persons may be deemed, for purposes of Rule 13d-3
under the Securities Exchange Act of 1934, as amended, to be the beneficial
owners of an aggregate of 58,618,420 Ordinary Shares as of March 14, 2008, which
represent 20.03% of the Issuer's outstanding Ordinary Shares. Mr. Edelman
beneficially owns 58,618,420 Ordinary Shares (comprised of (i) 55,640,720
Ordinary Shares held by the Fund, 2,516,450 of which Mr. Edelman shares
dispositive power with Mr. Cho and 1,010,000 of which Mr. Edelman shares
dispositive power with Mr. Bradley, and (ii) 2,977,700 Ordinary Shares held by
the FNY Account, 279,570 of which Mr. Edelman shares dispositive power with Mr.
Cho.
The percentage calculation was based on the number of Ordinary Shares
the Issuer reported as outstanding on its Form 20-F as filed with the Commission
on March 27, 2008. The amount of outstanding Ordinary Shares on such Annual
Report was 292,654,785.
Sole Voting Power Shared Voting Sole Shared
Power Dispositive Dispositive Power
Power
------------------- ------------------- --------------- ------------------
Perceptive Advisors LLC 0 58,618,420 0 58,618,420
Joseph Edelman 0 58,618,420 0 58,618,420
Michael Cho 0 0 0 2,796,020
Scott Bradley 0 0 0 1,010,000
The aggregate amount of shares owned by the Reporting Persons is
58,618,420.
(c) Except as set forth below, there have been no transactions in the
Ordinary Shares by any of the Reporting Persons during the past sixty days.
CUSIP No. 98386D109 13D Page 8 of 9 Pages
During the past sixty days, the Reporting Persons effected the
following sales of shares of Ordinary Shares in open market transactions:
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DATE SHARES PURCHASED PRICE
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1/15/2008 235,000 3.0606
1/15/2008 658,000 3.1122
1/16/2008 2,820 3.1567
1/16/2008 432,400 3.1
1/17/2008 179,540 3.0056
1/17/2008 144,760 3.0563
1/18/2008 185,180 3.1298
1/18/2008 118,440 3.1598
1/22/2008 12,520 2.9025
1/23/2008 282,000 2.8838
1/24/2008 216,200 2.98
1/24/2008 662,700 2.99
1/25/2008 188,000 3.238
1/28/2008 629,800 3.214
1/28/2008 9,400 3.23
1/29/2008 94,000 3.2298
1/30/2008 235,000 3.2304
1/31/2008 370,360 3.4993
1/31/2008 470,000 3.4329
2/1/2008 658,000 3.691
2/4/2008 517,000 3.8805
2/4/2008 131,600 3.8684
2/5/2008 94,940 3.75
2/5/2008 141,940 3.7874
2/6/2008 1,880 3.68
2/6/2008 329,000 3.7102
2/7/2008 9,400 3.396
2/13/2008 5,640 3.8082
2/20/2008 900 3.84
2/22/2008 444,602 3.95
2/22/2008 470,000 3.9458
2/22/2008 188,000 3.9526
2/25/2008 728,500 3.8682
2/25/2008 94,000 3.9598
2/26/2008 376,000 3.9059
2/26/2008 59,390 3.95
2/27/2008 103,400 4.0127
3/4/2008 104,060 3.9894
3/4/2008 282,000 3.9809
3/5/2008 535,800 3.9386
3/6/2008 615,700 3.8632
3/6/2008 244,400 3.7273
3/7/2008 940,000 3.7378
3/7/2008 141,440 3.6467
3/10/2008 470,000 3.2456
3/10/2008 470,000 3.15
3/10/2008 394,800 3.2765
3/11/2008 470,000 3.3117
3/11/2008 107,100 3.3048
3/12/2008 141,000 3.3661
3/12/2008 272,600 3.3501
3/13/2008 138,180 3.3803
3/13/2008 94,000 3.3733
3/14/2008 247,220 3.3312
3/14/2008 188,000 3.3213
(d) - (e): Not applicable.
ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER None.
ITEM 7 MATERIAL TO BE FILED AS EXHIBITS
Joint Filing Agreement, dated as of July 14, 2008, by and among
Perceptive Advisors LLC, Joseph Edelman, Michael Cho and Scott Bradley.
CUSIP No. 98386D109 13D Page 9 of 9 Pages
SIGNATURE
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.
July 14, 2008
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Date
/s/ Perceptive Advisors LLC
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Signature
Joseph Edelman/Managing Member
Name/Title
July 14, 2008
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Date
/s/ Joseph Edelman
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Signature
Joseph Edelman
Name/Title
July 14, 2008
Date
/s/ Michael Cho
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Signature
Michael Cho
Name/Title
July 14, 2008
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Date
/s/ Scott Bradley
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Signature
Scott Bradley
Name/Title
The original statement shall be signed by each person on whose behalf
the statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative other than an
executive officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. SEE ss.240.13d-7 for
other parties for whom copies are to be sent.
INDEX TO EXHIBITS
Exhibit 1 Joint Filing Agreement, dated as of July 14, 2008, by and
among Perceptive Advisors LLC, Joseph Edelman, Michael Cho and
Scott Bradley.
EXHIBIT 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) promulgated under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing on
behalf of each of them a Statement on Schedule 13D (including amendments
thereto) with regard to the Ordinary Shares of XTL Biopharmaceuticals Ltd., and
further agree that this Joint Filing Agreement be included as an Exhibit to such
joint filings. In evidence thereof, the undersigned, being duly authorized,
hereby execute this Agreement as of July 14, 2008.
July 14, 2008
-------------
Date
/s/ Perceptive Advisors LLC
---------------------------
Signature
Joseph Edelman/Managing Member
Name/Title
July 14, 2008
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Date
/s/ Joseph Edelman
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Signature
Joseph Edelman
Name/Title
July 14, 2008
Date
/s/ Michael Cho
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Signature
Michael Cho
Name/Title
July 14, 2008
-------------
Date
/s/ Scott Bradley
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Signature
Scott Bradley
Name/Title
(1) 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 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).