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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 okD30SyuC54r+4V2leYAJw==

<SEC-DOCUMENT>0001013594-06-000501.txt : 20060831
<SEC-HEADER>0001013594-06-000501.hdr.sgml : 20060831
<ACCEPTANCE-DATETIME>20060831145937
ACCESSION NUMBER:		0001013594-06-000501
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060821
FILED AS OF DATE:		20060831
DATE AS OF CHANGE:		20060831

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIODELIVERY SCIENCES INTERNATIONAL INC
		CENTRAL INDEX KEY:			0001103021
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				352089858
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2501 AERIAL CENTER PARKWAY
		STREET 2:		SUITE 205
		CITY:			MORRISVILLE
		STATE:			NC
		ZIP:			27560
		BUSINESS PHONE:		919-653-5160

	MAIL ADDRESS:	
		STREET 1:		2501 AERIAL CENTER PARKWAY
		STREET 2:		SUITE 205
		CITY:			MORRISVILLE
		STATE:			NC
		ZIP:			27560

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAS ACQUISITION XXIII CORP
		DATE OF NAME CHANGE:	20000111

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ELLIOTT ASSOCIATES, L.P.
		CENTRAL INDEX KEY:			0000904495
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31361
		FILM NUMBER:		061068198

	BUSINESS ADDRESS:	
		STREET 1:		712 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2125062999

	MAIL ADDRESS:	
		STREET 1:		712 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER NAME:	
		FORMER CONFORMED NAME:	ELLIOTT ASSOCIATES LP
		DATE OF NAME CHANGE:	19930513
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>biodeliveryfm3-083106_1ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-08-21</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001103021</issuerCik>
        <issuerName>BIODELIVERY SCIENCES INTERNATIONAL INC</issuerName>
        <issuerTradingSymbol>BDSI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000904495</rptOwnerCik>
            <rptOwnerName>ELLIOTT ASSOCIATES, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>712 FIFTH AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>175230</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2000000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Purchase Warrant (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.91</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-02-15</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>601120</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Purchase Warrant (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-11-16</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>904000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Elliott Associates, L.P. (&quot;Elliott&quot;) indirectly owns 175,230 shares of Common Stock through its subsidiary, The Liverpool
 Limited Partnership, a Bermuda limited partnership.</footnote>
        <footnote id="F2">Elliott, through its subsidiary, Manchester Securities Corp., a New York corporation, has an indirect pecuniary interest in
 the 2,000,000 shares of common stock and warrants exercisable for 1,505,120 shares of common stock, owned by CDC IV, LLC
 (&quot;CDC IV&quot;).  Elliott owns a majority of the equity interest of CDC IV (but not a controlling interest), and therefore
 disclaims beneficial ownership of the reportable securities owned by CDC IV,  and pursuant to Rule 16a-1(4) promulgated
 under the Securities Exchange Act of 1934, as amended, Elliott states that the filing of this Form 3 and the statements made
 herein shall not be deemed an admission that Elliott is the beneficial owner of any of the securities covered by this Form
 except to the extent of its pecuniary interest therein.</footnote>
        <footnote id="F3">According to the Form 3 filed on June 12, 2006 by CDC IV and CDC Operations LLC, CDC IV's manager (the &quot;CDC Form 3&quot;), the
 warrant shall be void after the earlier of (i) the second anniversary after the approval of the first NDA approved by the
 FDA under that certain Clinical Development and License Agreement, dated July 14, 2005, by and between CDC IV, as successor
 in interest to Clinical Development Capital LLC, BioDelivery Sciences International, Inc. (&quot;BDSI&quot;) and Arius
 Pharmaceuticals, Inc., (ii) the closing of the BDSI sale of all or substantially all of its assets or the acquisition of the
 company by another entity by means of merger or other transaction as a result of which stockholders of BDSI immediately
 prior to such acquisition possess a minority of the voting power of the acquiring entity immediately following the
 acquisition, or (iii) any liquidation or winding up of BDSI.</footnote>
        <footnote id="F4">According to the CDC Form 3, the warrant shall be void after the earlier of: (i) November 16, 2011, (ii) the closing of the
 BDSI's sale of all or substantially all of its assets or the acquisition of the company by another entity by means of merger
 or other transaction as a result of which stockholders of BDSI immediately prior to such acquisition possess a minority of
 the voting power of the acquiring entity immediately following the acquisition, or (iii) any liquidation or winding up of
 BDSI.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Elliot Greenberg, VP of Braxton Associates, Inc., as GP of Elliott Capital Advisors, L.P., as GP of Elliott Associates, L.P.</signatureName>
        <signatureDate>2006-08-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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