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


SCHEDULE 13G

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


Pharmasset, Inc.
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)

71715N106 
(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:

o Rule 13d-1(b)
o Rule 13d-1(c)
x 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).

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
Lumira Capital Corp.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) o
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Ontario
 
 
NUMBER OF
5
SOLE VOTING POWER
0
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
1,222,322
EACH
REPORTING
PERSON
7
SOLE DISPOSITIVE POWER
0
 
WITH:
8
SHARED DISPOSITIVE POWER
1,222,322
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,222,322
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
5.74%
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
CO
 

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
Lumira Capital Management Corp.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) o
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Ontario
 
 
NUMBER OF
5
SOLE VOTING POWER
0
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
677,905
EACH
REPORTING
PERSON
7
SOLE DISPOSITIVE POWER
0
 
WITH:
8
SHARED DISPOSITIVE POWER
1,222,322
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,222,322
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)  o
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
5.74%
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
CO


1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
Lumira Capital I Limited Partnership
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) o
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Ontario
 
 
NUMBER OF
5
SOLE VOTING POWER
0
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
677,905
EACH
REPORTING
PERSON
7
SOLE DISPOSITIVE POWER
0
 
WITH:
8
SHARED DISPOSITIVE POWER
677,905
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
677,905
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
3.18%
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
PN


1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
Lumira Capital I (GP) Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) o
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Ontario
 
 
NUMBER OF
5
SOLE VOTING POWER
0
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
677,905
EACH
REPORTING
PERSON
7
SOLE DISPOSITIVE POWER
0
 
WITH:
8
SHARED DISPOSITIVE POWER
677,905
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
677,905
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
3.18%
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
CO


1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
Lumira Capital I Quebec Limited Partnership
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) o
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Quebec
 
 
NUMBER OF
5
SOLE VOTING POWER
0
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
238,837
EACH
REPORTING
PERSON
7
SOLE DISPOSITIVE POWER
0
 
WITH:
8
SHARED DISPOSITIVE POWER
238,837
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
238,837
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
1.12%
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
PN


1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
Lumira Capital I (QGP) Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) o
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Quebec
 
 
NUMBER OF
5
SOLE VOTING POWER
0
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
238,837
EACH
REPORTING
PERSON
7
SOLE DISPOSITIVE POWER
0
 
WITH:
8
SHARED DISPOSITIVE POWER
238,837
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
238,837
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
1.12%
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
CO


1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
MLII Co-Investment Fund NC Limited Partnership
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) o
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Ontario
 
 
NUMBER OF
5
SOLE VOTING POWER
0
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
305,580
EACH
REPORTING
PERSON
7
SOLE DISPOSITIVE POWER
0
 
WITH:
8
SHARED DISPOSITIVE POWER
305,580
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
305,580
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
1.43%
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
PN


1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
MLII (NCGP) Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) o
(b) o
3
SEC USE ONLY
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Ontario
 
 
NUMBER OF
5
SOLE VOTING POWER
0
SHARES
BENEFICIALLY
OWNED BY
6
SHARED VOTING POWER
305,580
EACH
REPORTING
PERSON
7
SOLE DISPOSITIVE POWER
0
 
WITH:
8
SHARED DISPOSITIVE POWER
305,580
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
305,580
10
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
1.43%
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
CO

 
Schedule 13G

 
Item 1(a).
Name of Issuer: Pharmasset, Inc.
   
Item 1(b).
Address of Issuer’s Principal Executive Offices:
 
303-A College Road East, Princeton, NJ 08540
   
Item 2(a).
Names of Persons Filing: This statement is filed by: (i) Lumira Capital Corp., an Ontario corporation, with respect to shares of common stock of the Issuer (“Shares”) beneficially owned by Lumira Capital I Limited Partnership, Lumira Capital I Quebec Limited Partnership, MLII Co-Investment Fund NC Limited Partnership, Lumira Capital I (GP) Inc., Lumira Capital I (QGP) Inc., and MLII (NCGP) Inc.; (ii) Lumira Capital Management Corp., an Ontario corporation, with respect to Shares beneficially owned by Lumira Capital I Limited Partnership, Lumira Capital I Quebec Limited Partnership, and MLII Co-Investment Fund NC Limited Partnership; (iii) Lumira Capital I Limited Partnership, an Ontario limited partnership, with respect to Shares beneficially owned by it; (iv) Lumira Capital I (GP) Inc., an Ontario corporation, with respect to shares beneficially owned by Lumira Capital I Limited Partnership, of which it is the general partner, (v) Lumira Capital I Quebec Limited Partnership, a Quebec limited partnership, with respect to Shares beneficially owned by it; (vi) Lumira Capital I (QGP) Inc., a Quebec corporation, with respect to Shares beneficially owned by Lumira Capital I Quebec Limited Partnership, of which it is the general partner, (vii) MLII Co-Investment Fund NC Limited Partnership, an Ontario limited partnership, with respect to Shares beneficially owned by it; and (viii) MLII (NCGP) Inc., an Ontario corporation, with respect to Shares beneficially owned by MLII Co-Investment Fund NC Limited Partnership, of which it is the general partner.
 
 
 
Lumira Capital I (GP) Inc., Lumira Capital I (QGP) Inc., and MLII (NCGP) Inc. are wholly-owned subsidiaries of Lumira Capital Corp.
   
 
As a result of certain relationships, each of the Reporting Persons may be deemed to directly and/or indirectly beneficially own up to 1,222,322 Shares, representing in the aggregate approximately 5.74% of the outstanding Shares, based on the number of Shares reported to be outstanding as of November 30, 2007 in the Issuer’s Annual Report on Form 10-K for the fiscal year ended September 30, 2007. Each Reporting Person disclaims beneficial ownership of any securities beneficially owned by any other Reporting Person.
   
 
The Reporting Persons may be deemed to constitute a “group” under Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Act”), with respect to their beneficial ownership of the Shares. 
   
Item 2(b).
Address of Principal Business Office or, if None, Residence:
   
 
The address of the principal office of (i) Lumira Capital Corp. is 20 Bay Street, 11th Floor, Toronto, Ontario, M5J 2N8; (ii) Lumira Capital Management Corp. is 20 Bay Street, 11th Floor, Toronto, Ontario M5J 2N8; (iii) Lumira Capital I Limited Partnership is 20 Bay Street, 11th Floor, Toronto, Ontario M5J 2N8; (iv) Lumira Capital I (GP) Inc. is 20 Bay Street, 11th Floor, Toronto, Ontario M5J 2N8; (v) Lumira Capital I Quebec Limited Partnership is 1550 Metcalfe Street, Suite 502, Montreal, Quebec H3A 1X6; (vi) Lumira Capital I (QGP) Inc. is 1550 Metcalfe Street, Suite 502, Montreal, Quebec H3A 1X6; (vii) MLII Co-Investment Fund NC Limited Partnership is 20 Bay Street, 11th Floor, Toronto, Ontario M5J 2N8; and (viii) MLII (NCGP) Inc. is 20 Bay Street, 11th Floor, Toronto, Ontario M5J 2N8.
   
Item 2(c).
Citizenship:
   
 
Lumira Capital Corp., Lumira Capital Management Corp., Lumira Capital I (GP) Inc., and MLII (NCG) Inc. are Ontario corporations. Lumira Capital I Limited Partnership and MLII Co-Investment Fund NC Limited Partnership are Ontario limited partnerships. Lumira Capital I Quebec Limited Partnership is a Quebec limited partnership. Lumira Capital I (QG) Inc. is a Quebec corporation.
   
Item 2(d).
Title of Class of Securities: Common Stock
   
Item 2(e).
CUSIP Number: 71715N106
   
Item 3.
If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
   
Item 4. Ownership.
   
 
Reference is made to Items 5 - 11 on Pages 2 to 10 inclusive of this Schedule 13G.
 
 
   
Item 5.
Ownership of Five Percent or Less of a Class.
   
  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.
   
  Not applicable
   
Item 9. Notice of Dissolution of Group.
   
  Not applicable
   
Item 10. Certifications.
   
  (a)  Not applicable
   
  (b)  Not applicable
 
 
Signatures

After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. We also hereby agree to file this statement jointly pursuant to the Agreement listed on Exhibit 1 hereto.

Dated: February 13, 2008

Lumira Capital Corp.

By:
/s/
Graysanne Bedell
  
By:
/s/
Stephen Cummings
             
Name:
  
Graysanne Bedell
  
Name:
 
Stephen Cummings
Title:
  
Vice-President, Legal, & Secretary
  
Title:
 
Chief Financial Officer
             
Lumira Capital Management Corp.
             
By:
/s/
Graysanne Bedell
  
By:
/s/
Stephen Cummings
             
Name:
  
Graysanne Bedell
  
Name:
 
Stephen Cummings
Title:
  
Vice-President, Legal, & Secretary
  
Title:
 
 Vice-President, Finance
             
Lumira Capital I Limited Partnership, by its General Partner, Lumira Capital I (GP) Inc.
             
By:
/s/
Graysanne Bedell
  
By:
/s/
Stephen Cummings
             
Name:
  
Graysanne Bedell
  
Name:
 
Stephen Cummings
Title:
  
Vice-President & Secretary
  
Title:
 
Chief Financial Officer
             
Lumira Capital I (GP) Inc.
             
By:
/s/
Graysanne Bedell
  
By:
/s/
Stephen Cummings
             
Name:
  
Graysanne Bedell
  
Name:
Stephen Cummings
Title:
  
Vice-President & Secretary
  
Title:
 
Chief Financial Officer
             
Lumira Capital I Quebec Limited Partnership, by its General Partner, Lumira Capital I (QGP) Inc.
             
By:
/s/
Graysanne Bedell
  
By:
/s/
Stephen Cummings
             
Name:
  
Graysanne Bedell
  
Name:
 
Stephen Cummings
Title:
  
Vice-President & Secretary
  
Title:
 
Vice-President, Finance
             
Lumira Capital I (QGP) Inc.
             
By:
/s/
Graysanne Bedell
  
By:
/s/
Stephen Cummings
             
Name:
  
Graysanne Bedell
  
Name:
 
Stephen Cummings
Title:
  
Vice-President & Secretary
  
Title:
 
Vice-President, Finance
             
MLII Co-Investment Fund NC Limited Partnership, by its General Partner, MLII (NCGP) Inc.
             
By:
/s/
Graysanne Bedell
  
By:
/s/
Stephen Cummings
             
Name:
  
Graysanne Bedell
  
Name:
 
Stephen Cummings
Title:
  
Vice-President & Secretary
  
Title:
 
Vice-President, Finance
             
MLII (NCGP) Inc.
             
By:
/s/
Graysanne Bedell
  
By:
/s/
Stephen Cummings
             
Name:
  
Graysanne Bedell
  
Name:
 
Stephen Cummings
Title:
  
Vice-President & Secretary
  
Title:
 
Vice-President, Finance