Form 3 IDM PHARMA, INC. For: Aug 28 Filed by: PALO ALTO HEALTHCARE FUND, L.P. (10K)

FORM 3

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

INITIAL STATEMENT OF 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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1. Name and Address of Reporting Person^*

PALO ALTO HEALTHCARE MASTER FUND, L.P.

(Last)

(First)

(Middle)

C/O CITCO FUND SERVICES (BERMUDA) LTD., WASHINGTON MALL WEST, 2ND FL., 7 REID ST

(Street)

HAMILTON

HM 11

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/28/2008

3. Issuer Name and Ticker or Trading Symbol
IDM PHARMA, INC. [IDMI]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	3,471,029	D ⁽¹⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Excercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Excercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Warrants (right to buy)	02/21/2007	02/20/2012	Common Stock	265,256	$ 3.243	D ⁽¹⁾
Warrants (right to buy)	06/25/2007	06/25/2012	Common Stock	116,315	$ 4.06	D ⁽¹⁾

Explanation of Responses:

1. Palo Alto Healthcare Master Fund, L.P. (the "Master Fund") holds these securities directly on behalf of its investors. Palo Alto Healthcare Fund, L.P. is a limited partner in the Master Fund and as such, indirectly holds 2,595,288 shares of the Common Stock and 285,301 of the Warrants reported on this Form 3 on behalf of its investors.

	Palo Alto Healthcare Master Fund, L.P. by Palo Alto Investors, LLC, General Partner, by Palo Alto Investors, Manager, by Mark Shamia, Chief Operating Officer	08/29/2008
	** Signature of Reporting Person	Date
	Palo Alto Healthcare Fund, L.P. by Palo Alto Investors, LLC, General Partner, by Palo Alto Investors, Manager, by Mark Shamia, Chief Operating Officer	08/29/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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