Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CDC IV LLC
   2. Issuer Name and Ticker or Trading Symbol
BIODELIVERY SCIENCES INTERNATIONAL INC [BDSI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
See remarks below.
(Last)
(First)
(Middle)
47 HULFISH STREET, SUITE 310		 3. Date of Earliest Transaction (Month/Day/Year)
07/23/2009
(Street)

PRINCETON, NJ 08542		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CDC IV LLC
47 HULFISH STREET, SUITE 310
PRINCETON, NJ 08542		       See remarks below.
CDC Operations LLC
47 HULFISH STREET, SUITE 310
PRINCETON, NJ 08542		       See remarks below.
Ramsay David Russ
47 HULFISH STREET, SUITE 310
PRINCETON, NJ 08542		       See remarks below.
LESCHLY JAN
47 HULFISH STREET, SUITE 310
PRINCETON, NJ 08542		       See remarks below.
KARABELAS ARGERIS N
47 HULFISH STREET, SUITE 310
PRINCETON, NJ 08542		       See remarks below.

Signatures

 /s/ David R. Ramsay   07/23/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
CDC IV, LLC ("CDC IV") has previously reported the beneficial ownership of the shares underlying a warrant to purchase 601,120
shares of BioDelivery Sciences International, Inc. ("BDSI") common stock, issued in February 2006.  The warrant, as amended
and restated in February 2006, contains a provision that requires CDC IV to provide 61 days prior written notice to BDSI in order
to exercise such warrant.  Since CDC IV cannot exercise the warrant to purchase 601,120 shares of BDSI's common stock within 60
days, unless the notice provision is waived by BDSI, in accordance with Rule 13d-3 of the Securities Exchange Act of 1934, as amended,
CDC IV is not deemed to have beneficial ownership of such shares underlying the warrant.  As a result, CDC IV's beneficial ownership
of BDSI's common stock does not include the warrant to purchase 601,120 shares of BDSI's common stock, and therefore, CDC IV's
beneficial ownership is below 10% of the outstanding common stock of BDSI.

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