UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
------------------------------------------------------------------------------
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
BIO-IMAGING TECHNOLOGIES INC.
-----------------------------
(Name of Issuer)
Common Stock, par value $0.00025 per share
---------------------------------------------------
(Title of Class of Securities)
09056N103
-------------------
(CUSIP Number)
December 31, 2007
--------------------
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] 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).
Continued on following pages
Page 1 of 17 Pages
Exhibit Index: Page 15
SCHEDULE 13G
CUSIP No.: 09056N103 Page 2 of 17 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
LANDMARK ADVISORS, LLC
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
Delaware
.................................................................................
Number of 5. Sole Voting Power None
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power 713,162
Person With ................................................................
7. Sole Dispositive Power None
................................................................
8. Shared Dispositive Power 713,162
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
713,162
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|_|
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.10% based on 11,696,108 shares outstanding as of September 30, 2007.
.................................................................................
12. Type of Reporting Person:
IA
CUSIP No.: 913201109 Page 3 of 17 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
LANDMARK SELECT MASTER FUND LTD.
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
Cayman Islands
.................................................................................
Number of 5. Sole Voting Power None
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power 713,162
Person With ................................................................
7. Sole Dispositive Power None
................................................................
8. Shared Dispositive Power 713,162
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
713,162
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|_|
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.10% based on 11,696,108 shares outstanding as of September 30, 2007.
.................................................................................
12. Type of Reporting Person:
HC
CUSIP No.: 913201109 Page 4 of 17 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
TILDENROW ADVISORS, LLC
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
New York
.................................................................................
Number of 5. Sole Voting Power None
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power 713,162
Person With ................................................................
7. Sole Dispositive Power None
................................................................
8. Shared Dispositive Power 713,162
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
713,162
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|_|
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.10% based on 11,696,108 shares outstanding as of September 30, 2007.
.................................................................................
12. Type of Reporting Person:
IA
CUSIP No.: 913201109 Page 5 of 17 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
BARON ADVISORS LLC
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
New York
.................................................................................
Number of 5. Sole Voting Power None
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power 713,162
Person With ................................................................
7. Sole Dispositive Power None
................................................................
8. Shared Dispositive Power 713,162
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
713,162
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|_|
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.10% based on 11,696,108 shares outstanding as of September 30, 2007.
.................................................................................
12. Type of Reporting Person:
HC
CUSIP No.: 913201109 Page 6 of 17 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
AHMED FATTOUH
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
United States of America
.................................................................................
Number of 5. Sole Voting Power 713,162
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power None
Person With ................................................................
7. Sole Dispositive Power 713,162
................................................................
8. Shared Dispositive Power None
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
713,162
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|_|
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.10% based on 11,696,108 shares outstanding as of September 30, 2007.
.................................................................................
12. Type of Reporting Person:
HC
CUSIP No.: 913201109 Page 7 of 17 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
JOHN SALIB
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
United States of America
.................................................................................
Number of 5. Sole Voting Power 713,162
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power None
Person With ................................................................
7. Sole Dispositive Power 713,162
................................................................
8. Shared Dispositive Power None
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
713,162
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|_|
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.10% based on 11,696,108 shares outstanding as of September 30, 2007.
.................................................................................
12. Type of Reporting Person:
HC
CUSIP No.: 913201109 Page 8 of 17 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
SEBASTIAN STUBBE
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
United States of America
.................................................................................
Number of 5. Sole Voting Power 713,162
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power None
Person With ................................................................
7. Sole Dispositive Power 713,162
................................................................
8. Shared Dispositive Power None
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
713,162
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|_|
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.10% based on 11,696,108 shares outstanding as of September 30, 2007.
.................................................................................
12. Type of Reporting Person:
HC
CUSIP No.: 913201109 Page 9 of 17 Pages
.................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
EILEEN SEGALL
.................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
.................................................................................
3. SEC Use Only
.................................................................................
4. Citizenship or Place of Organization
United States of America
.................................................................................
Number of 5. Sole Voting Power 713,162
Shares
Beneficially ................................................................
Owned by Each
Reporting 6. Shared Voting Power None
Person With ................................................................
7. Sole Dispositive Power 713,162
................................................................
8. Shared Dispositive Power None
.................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
713,162
.................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|_|
.................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.10% based on 11,696,108 shares outstanding as of September 30, 2007.
.................................................................................
12. Type of Reporting Person:
HC
Page 10 of 17 Pages
Item 1(a). Name of Issuer:
Bio-Imaging Technologies Inc. (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive Offices:
826 Newton-Yardley Road
Newton, PA 18940-1721
Item 2(a). Name of Person Filing
This Statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):
i) Tildenrow Advisors, LLC ("Tildenrow Advisors")
ii) Landmark Select Master Fund Ltd. ("Landmark Select")
iii) Landmark Advisors, LLC ("Landmark Advisors")
iv) Baron Advisors, LLC ("Baron Advisors")
v) Ahmed Fattouh ("Mr. Fattouh")
vi) John Salib ("Mr. Salib")
vii) Sebastian Stubbe ("Mr. Stubbe")
viii) Eileen Segall ("Ms. Segall")
This Statement relates to Shares (as defined herein) held for
the accounts of Landmark Select, a Cayman Islands exempted company. Landmark
Advisors serves as investment adviser to Landmark Select and Tildenrow Advisors
serves as sub-adviser to Landmark Select under Landmark Advisors. In such
capacity, both Landmark Advisors and Tildenrow Advisors may be deemed to have
voting and dispositive power over the Shares held for the account of Landmark
Select. Landmark Advisors is a registered investment adviser under Section 203
of the Investment Advisers Act of 1940, as amended. Baron Advisors, LLC, Mr.
Salib and Mr. Stubbe are members of Landmark Advisors with discretionary
authority in relation to trades advised by Landmark Advisors or its
sub-advisers. Mr. Fattouh is the managing member of Baron Advisors. Ms. Segall
is the managing member of Tildenrow Advisors.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of
Landmark Advisors, Landmark Select, Baron Advisors, Mr. Fattouh, Mr. Salib and
Mr. Stubbe is 408 West 14th Street, New York, NY 10014. The address of the
principal place of business of Tildenrow Advisors and Ms. Segall is 120 E. 34th
Street Suite 6H, New York, NY 10016.
Item 2(c). Citizenship:
Page 11 of 17 Pages
i) Tildenrow Advisors is a New York limited liability company;
ii) Landmark Select is a Cayman Islands exempted company;
iii) Landmark Advisors is a Delaware limited liability company;
iv) Baron Advisors is a New York limited liability company;
v) Mr. Fattouh is a citizen of the United States of America;
vi) Mr. Salib is a citizen of the United States of America;
vii) Mr. Stubbe is a citizen of the United States of America; and
viii) Ms. Segall is a citizen of the United States of America.
Item 2(d). Title of Class of Securities:
Common Stock, par value $.00025 per share (the "Shares")
Item 2(e).CUSIP Number:
09056N103
Item 3. If This Statement is Filed Pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), Check Whether the Person Filing is a:
This Item 3 is not applicable.
Item 4. Ownership:
Item 4(a) Amount Beneficially Owned:
As of December 31, 2007, Tildenrow Advisors, Landmark
Advisors, Landmark Select, Baron Advisors, Mr. Fattouh, Mr. Salib, Mr. Stubbe
and Ms. Segall may be deemed to be the beneficial owner of 713,162 Shares. This
amount consists of 713,162 Shares held for the account of Landmark Select.
Item 4(b) Percent of Class:
The number of Shares of which each of Tildenrow Advisors,
Landmark Advisors, Landmark Select, Baron Advisors, Mr. Fattouh, Mr. Salib, Mr.
Stubbe and Ms. Segall may be deemed to be the beneficial owner constitutes
approximately 6.10% of the total number of Shares outstanding (based upon
information provided by the Issuer in its most recently filed quarterly report
on Form 10-Q, there were approximately 11,696,108 shares outstanding as of
September 30, 2007).
Item 4(c) Number of Shares of which such person has:
Tildenrow Advisors, Landmark Advisors, Landmark Select, Baron
Advisors, Mr. Fattouh, Mr. Salib, Mr. Stubbe and Ms. Segall
Page 12 of 17 Pages
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 713,162
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 713,162
Item 5. Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
This Item 6 is not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company:
See disclosure in Item 2 hereof.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that,
to the best of their 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.
Page 13 of 17 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Date: February 4, 2008 LANDMARK SELECT MASTER FUND LTD.
By: LANDMARK ADVISORS, LLC, its investment
adviser
By: /s/ John Salib
-----------------------------
Name: John Salib
Title: Member
Date: February 4, 2008 TILDENROW ADVISORS, LLC
By: /s/ Eileen Segall
-----------------------------
Name: Eileen Segall
Title: Managing Member
Date: February 4, 2008 LANDMARK ADVISORS LLC
By: /s/ John Salib
-----------------------------
Name: John Salib
Title: Member
Date: February 4, 2008 BARON ADVISORS, LLC
By: /s/ Ahmed Fattouh
-----------------------------
Name: Ahmed Fattouh
Title: Managing Member
Date: February 4, 2008 AHMED FATTOUH
/s/ Ahmed Fattouh
---------------------------------
Date: February 4, 2008 JOHN SALIB
/s/ John Salib
---------------------------------
Date: February 4, 2008 SEBASTIAN STUBBE
/s/ Sebastian Stubbe
---------------------------------
Page 14 of 17 Pages
EILEEN SEGALL
Date: February 4, 2008 /s/ Eileen Segall
---------------------------------
Page 15 of 17 Pages
EXHIBIT INDEX
Exhibit Page No.
------- --------
A Joint Filing Agreement, dated February 4, 2007 by and among
Tildenrow Advisors, Landmark Advisors, Landmark Select,
Baron Advisors, Mr. Fattouh, Mr. Salib, Mr. Stubbe and
Ms. Segall............................................... 16
Page 16 of 17 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule
13G with respect to the Common Stock of Bio-Imaging, Inc. dated as of February
4, 2008 is, and any amendments thereto (including amendments on Schedule 13D)
signed by each of the undersigned shall be, filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.
Date: February 4, 2008 LANDMARK SELECT MASTER FUND LTD.
By: LANDMARK ADVISORS, LLC, its investment
adviser
By: /s/ John Salib
------------------------------
Name: John Salib
Title: Member
Date: February 4, 2008 TILDENROW ADVISORS, LLC
By: /s/ Eileen Segall
------------------------------
Name: Eileen Segall
Title: Managing Member
Date: February 4, 2008 LANDMARK ADVISORS LLC
By: /s/ John Salib
------------------------------
Name: John Salib
Title: Member
Date: February 4, 2008 BARON ADVISORS, LLC
By: /s/ Ahmed Fattouh
------------------------------
Name: Ahmed Fattouh
Title: Managing Member
Date: February 4, 2008 AHMED FATTOUH
By: /s/ Ahmed Fattouh
------------------------------
Page 17 of 17 Pages
Date: February 4, 2008 JOHN SALIB
By: /s/ John Salib
------------------------------
Date: February 4, 2008 SEBASTIAN STUBBE
By: /s/ Sebastian Stubbe
------------------------------
EILEEN SEGALL
Date: February 4, 2008 By: /s/ Eileen Segall
------------------------------