-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MfkrdcYphQNdsnX3EVKE0hQiKwKUGxHy5b3uXBXuot1i4w+Z3bogsKKBr7NwHL+5
 X8guw3tpstrzOuLcM59iZw==

<SEC-DOCUMENT>0001428124-10-000001.txt : 20100129
<SEC-HEADER>0001428124-10-000001.hdr.sgml : 20100129
<ACCEPTANCE-DATETIME>20100128180749
ACCESSION NUMBER:		0001428124-10-000001
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100129
DATE AS OF CHANGE:		20100128
EFFECTIVENESS DATE:		20100129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INSPIRATION BIOPHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0001428124
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-115176
		FILM NUMBER:		10555241

	BUSINESS ADDRESS:	
		STREET 1:		28202 CABOT ROAD
		STREET 2:		SUITE 300
		CITY:			LAGUNA NIGUEL
		STATE:			CA
		ZIP:			92677
		BUSINESS PHONE:		888-808-0896

	MAIL ADDRESS:	
		STREET 1:		28202 CABOT ROAD
		STREET 2:		SUITE 300
		CITY:			LAGUNA NIGUEL
		STATE:			CA
		ZIP:			92677
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001428124</cik>
        <entityName>INSPIRATION BIOPHARMACEUTICALS INC</entityName>
        <issuerAddress>
            <street1>28202 CABOT ROAD</street1>
            <street2>SUITE 300</street2>
            <city>LAGUNA NIGUEL</city>
            <stateOrCountry>CA</stateOrCountry>
            <zipCode>92677</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>888-808-0896</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <previousName>The Christmas Consortium, LLC</previousName>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2006</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>R.</middleName>
                <lastName>Taylor</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>45 East 89th Street Apt. 40E</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10128</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Co-Founder of Inspiration Biopharmaceuticals, Inc., and Chairman of the Board of Directors.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Scott</firstName>
                <middleName>D.</middleName>
                <lastName>Martin</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5621 Tupper Lake Drive</street1>
                <city>Houston</city>
                <stateOrCountry>TX</stateOrCountry>
                <zipCode>77056</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Co-Founder of Inspiration Biopharmaceuticals, Inc., and Member of the Board of Directors.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>J.</middleName>
                <lastName>Giffith</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>28761 via Buena Vista</street1>
                <city>San Juan Capistrano</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>92675</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President and Chief Executive Officer of Inspiration Bipharmaceuticals, Inc., and Member of the Board of Directors.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lynne</firstName>
                <middleName>R.</middleName>
                <lastName>Rollins</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>34 Emerald Glen</street1>
                <city>Laguna Niguel</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>92677</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Secretary and Treasurer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Barry</firstName>
                <middleName>R.</middleName>
                <lastName>Frankel</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>11 West 42nd Street, 3rd Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10036</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Directors.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <middleName>R.</middleName>
                <lastName>Evans-Freke</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Wessex House</street1>
                <street2>45 Reid Street, 4th Floor</street2>
                <city>Hamilton, HM 12</city>
                <stateOrCountry>D0</stateOrCountry>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Directors.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <lastName>Grethlein</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>60 Agnes Street</street1>
                <city>Oakland</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>94618-2523</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Operating Officer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gerard</firstName>
                <lastName>Picot</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>65, quai Georges Gorse</street1>
                <city>Boulogne Billancourt</city>
                <stateOrCountry>I0</stateOrCountry>
                <zipCode>92100</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Member of the Board of Directors.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Biotechnology</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>No Revenues</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001428124-09-000003</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-10-30</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isDebtType>true</isDebtType>
            <isOptionToAcquireType>true</isOptionToAcquireType>
            <isSecurityToBeAcquiredType>true</isSecurityToBeAcquiredType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse>A business combination transaction is not imminent but may arise in connection with this offering.</clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>435346</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Healthios, Inc.</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1101 Skokie Blvd., Ste 240</street1>
                    <city>Northbrook</city>
                    <stateOrCountry>IL</stateOrCountry>
                    <zipCode>60062</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <state>CT</state>
                    <state>IL</state>
                    <state>NJ</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>PA</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>371640674</totalOfferingAmount>
            <totalAmountSold>197640946</totalAmountSold>
            <totalRemaining>173999728</totalRemaining>
            <clarificationOfResponse>Total Offering includes: 1 new outside equity investment, 2 non-equity exchanged for equity, 3 exchange of previous equity for new series of equity, 4 partial equity commission payment, 5 potential future milestone based notes convertible into equity.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>4</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>5935346</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>The total value of the Sales Commission includes both cash and equity components.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>858170</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The estimate reflects the proposed annual salary made by Inspiration Biopharmaceuticals, Inc., to the salaried individuals identified in Item 3.  There will alsobe, however, reimbursement and compensation paid to Directors for Board Meeting attendance.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>INSPIRATION BIOPHARMACEUTICALS INC</issuerName>
                <signatureName>Lynne R. Rollins</signatureName>
                <nameOfSigner>Lynne R. Rollins</nameOfSigner>
                <signatureTitle>Secretary and Treasurer</signatureTitle>
                <signatureDate>2010-01-28</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----