OMB APPROVAL

OMB Number: 3235-0145

Expires: December 31, 2005

Estimated average burden
hours per response...11

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

PILOT THERAPEUTICS HOLDINGS, INC.

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

458381100

(Cusip Number)

December 31, 2002

(Date of Event Which Requires Filing of this Statement)

Gerald F. Roach, Esq.
Christopher B. Capel, Esq.
Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P.
2500 First Union Capitol Center
150 Fayetteville Street Mall
Raleigh, North Carolina 27601
(919) 821-1220
(Name, Address and Telephone Number
of Person Authorized to Receive Notices and Communications)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1 (b)

x Rule 13d-1 (c)

o 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 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 (“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).

13G/A
CUSIP No. 458381100
	1.	Name of Reporting Person: Quintiles Transnational Corp.			I.R.S. Identification Nos. of above persons (entities only): 56-1714315
	2.	Check the Appropriate Box if a Member of a Group:
		(a)	o
		(b)	o
		JOINT FILING
	3.	SEC Use Only:
	4.	Citizenship or Place of Organization: North Carolina
Number of Shares Beneficially Owned by Each Reporting Person With
			5.	Sole Voting Power: -0-
			6.	Shared Voting Power: 2,392,5851
			7.	Sole Dispositive Power: -0-
			8.	Shared Dispositive Power: 2,392,5851
	9.	Aggregate Amount Beneficially Owned by Each Reporting Person: 2,392,5851
	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares: o
	11.	Percent of Class Represented by Amount in Row (9): 17.2%2
	12.	Type of Reporting Person: CO

¹ Includes 2,392,585 shares of common stock (“Common Stock”) of Pilot Therapeutics Holdings, Inc. (the “Issuer”) beneficially owned by PharmaBio Development Inc. (“PharmaBio”), a wholly-owned subsidiary of Quintiles Transnational Corp. See footnote 3.

² Calculated based on (i) 11,516,052 shares of outstanding Common Stock of the Issuer on October 31, 2002, as reported in the Issuer’s Form 10-QSB for the period ended September 30, 2002 and filed with the Securities and Exchange Commission on November 14, 2002, and (ii) 2,392,585 shares of Common Stock beneficially owned by PharmaBio.

2

13G/A
CUSIP No. 458381100
	1.	Name of Reporting Person: PharmaBio Development Inc.			I.R.S. Identification Nos. of above persons (entities only): 56-2019326
	2.	Check the Appropriate Box if a Member of a Group:
		(a)	o
		(b)	o
		JOINT FILING
	3.	SEC Use Only:
	4.	Citizenship or Place of Organization: North Carolina
Number of Shares Beneficially Owned by Each Reporting Person With
			5.	Sole Voting Power: -0-
			6.	Shared Voting Power: 2,392,5853
			7.	Sole Dispositive Power: -0-
			8.	Shared Dispositive Power: 2,392,5853
	9.	Aggregate Amount Beneficially Owned by Each Reporting Person: 2,392,5853
	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares: o
	11.	Percent of Class Represented by Amount in Row (9): 17.2%4
	12.	Type of Reporting Person: CO

³ Pursuant to an Agreement between PharmaBio and a subsidiary of the Issuer, PharmaBio has made loans to such subsidiary of the Issuer in the aggregate amount of $4,000,000. Such amount is convertible by PharmaBio into the Issuer’s Common Stock based on the “Conversion Price” as defined in such Agreement, which is subject to adjustment in accordance with such Agreement. In addition, PharmaBio has the right to acquire an additional number of shares of the Issuer’s Common Stock upon the conversion of the accrued interest on the loan. Based on the current Conversion Price of $1.915 per share, the current outstanding loan amount of $4,000,000, and accrued interest of approximately $581,800, PharmaBio has the right to acquire 2,392,585 shares of the Issuer’s Common Stock.

⁴ Calculated based on (i) 11,516,052 shares of outstanding Common Stock of the Issuer outstanding on October 31, 2002, as reported in the Issuer’s Form 10-QSB for the period ended September 30, 2002 and filed with the Securities and Exchange Commission on November 14, 2002, and (ii) 2,392,585 shares of Common Stock beneficially owned by PharmaBio as described above.

3

13G/A

Item 1.
	(a)	Name of Issuer:
		Pilot Therapeutics Holdings, Inc. (the “Issuer”)
	(b)	Address of Issuer’s Principal Executive Offices:
		101 North Chestnut Street, Winston-Salem, North Carolina 27101
Item 2.
	(a)	Name of Person Filing:
		Quintiles Transnational Corp. (“Quintiles”) and PharmaBio Development Inc. (“PharmaBio”), a wholly-owned subsidiary of Quintiles.
	(b)	Address of Principal Business Office or, if none, Residence:
		Quintiles’ principal business office is at 4709 Creekstone Drive, Suite 200, Durham, North Carolina 27703. PharmaBio’s principal business office address is c/o Quintiles Transnational Corp., 4709 Creekstone Drive, Suite 200, Durham, North Carolina 27703.
	(c)	Citizenship:
		Quintiles is a North Carolina corporation. PharmaBio is also a North Carolina corporation.
	(d)	Title of Class of Securities:
		Common stock, par value $0.01 per share (“Common Stock”).
	(e)	CUSIP Number:
		The Issuer’s CUSIP number is 458381100.
Item 3.	If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
		x	Not Applicable.
	(a)	o	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
	(b)	o	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
	(c)	o	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
	(d)	o	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
	(e)	o	An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
	(f)	o	An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
	(g)	o	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
	(h)	o	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
	(i)	o	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
	(j)	o	Group, in accordance with §240.13d-1(b)(1)(ii)(J).

4

13G/A

Item 4.	Ownership.
	(a)	Amount beneficially owned:
	(b)	Percent of class:
	(c)	Number of shares as to which the person has:
		(i)	Sole power to vote or to direct the vote:
		(ii)	Shared power to vote or to direct the vote:
		(iii)	Sole power to dispose or to direct the disposition of:
		(iv)	Shared power to dispose or to direct the disposition of:
Based on information contained in the most recent publicly available filings of the Issuer with the Securities and Exchange Commission, Quintiles and PharmaBio are deemed to beneficially own the number of shares and the percentage of outstanding shares of Issuer Common Stock listed on lines 9 and 11 of pages 2 and 3 of this Schedule 13G/A, respectively. In addition, the number of shares as to which Quintiles and PharmaBio have sole or shared voting power and sole or shared dispositive power, are listed on lines 5 through 8 of pages 2 and 3 of this Schedule 13G/A, respectively.
Item 5.	Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.
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.
This Schedule 13G/A is filed jointly by Quintiles and by PharmaBio, a wholly-owned subsidiary of Quintiles.
Item 9.	Notice of Dissolution of Group.
Not Applicable

5

13G/A

Item 10.	Certification.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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 the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

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.

Date:	February 14, 2003
Company Name(s):
QUINTILES TRANSNATIONAL CORP.
By:	/s/ John S. Russell
Name:	John S. Russell
Title:	Executive Vice President
PHARMABIO DEVELOPMENT INC.
By:	/s/ Thomas C. Perkins
Name:	Thomas C. Perkins
Title:	Vice President

6

13G/A

EXHIBIT INDEX

Exhibit Number	Description
1*	Joint Filing Agreement between Quintiles Transnational Corp. and PharmaBio Development Inc.

*Previously filed.

7 -----END PRIVACY-ENHANCED MESSAGE-----