SPHERA FUNDS MANAGEMENT LTD.

Confidential Treatment Requested. (The Manager has omitted from this public Form 13F one or more holding(s) for which it is requesting confidential treatment from the U.S. Securities and Exchange Commission pursuant to section 13(f) of the Exchange Act and rule 24b-2 thereunder)

Person Signing this Report on Behalf of Reporting Manager:

Investment discretion with regard to a portion of the securities reported herein is exercised by Sphera Global Healthcare Management L.P. (the "Management Company"). The Management Company is managed, controlled, and operated by its general partner, Sphera Global Healthcare GP Ltd. (the "General Partner"), the shares of which are owned 50% by Sphera Funds Management Ltd. ("SFML"). SFML is entitled to appoint 50% of the members of the board of directors of the General Partner (the "Board of Directors") and 50% of the members to the investment committee of the Management Company (the "Investment Committee"), and therefore may be deemed to share control of the General Partner and Management Company. This Form 13F shall not be construed as an admission by SFML, the General Partner, or the Management Company that it is the beneficial owner of any of the securities covered by this Form 13F, and each of SFML, the General Partner, and the Management Company disclaim beneficial ownership of any such securities. Per informal guidance received from the Division of Investment Management, section 13(f) securities that are dual listed on a U.S. stock exchange and the Tel Aviv Stock Exchange were included in this Form 13F only if they were purchased in the U.S.

Other Included Managers (2):