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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(Print or Type Responses)

1. Name and Address of Reporting Person *   ALEXANDRA GLOBAL MASTER FUND LTD 2. Date of Event Requiring Statement (Month/Day/Year) 03/19/2007 3. Issuer Name and Ticker or Trading Symbol VIRAGEN INC [VRA] (Last) (First) (Middle) CITCO BUILDING, WICKAMS CAY, P.O. BOX 662 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) ROAD TOWN, TORTOLA, D8  6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 35,537,639 (1) D (1) Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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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 Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ALEXANDRA GLOBAL MASTER FUND LTD CITCO BUILDING, WICKAMS CAY P.O. BOX 662 ROAD TOWN, TORTOLA, D8Â	Â	  X	Â	Â
ALEXANDRA INVESTMENT MANAGEMENT LLC 767 THIRD AVE 39TH FLOOR NEW YORK, NY 10017	Â	  X	Â	Â
Filimonov Mikhail 767 THIRD AVENUE 39TH FLOOR NEW YORK, NY 10017	Â	  X	Â	Â

Signatures

ALEXANDRA GLOBAL MASTER FUND LTD., By: ALEXANDRA INVESTMENT MANAGEMENT, LLC, as Investment Advisor, By: /s/ Mikhail Filimonov, its Chairman and Chief Executive Officer		03/21/2007
**Signature of Reporting Person		Date
ALEXANDRA INVESTMENT MANAGEMENT, LLC, By: /s/ Mikhail Filimonov, its Chairman and Chief Executive Officer		03/21/2007
**Signature of Reporting Person		Date
/s/ Mikhail Filimonov		03/21/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Alexandra Global Master Fund Ltd. ("Alexandra") is the direct beneficial owner of the securities. Alexandra Investment Management, LLC ("AIM") is the investment advisor to Alexandra. Mikhail Filimonov is the Chairman, Chief Executive Officer, Chief Investment Officer and a Managing Member of AIM. By reason of such relationships, AIM and Mikhail Filimonov may be deemed to be the beneficial owner of the securities owned by Alexandra. AIM and Mikhail Filimonov each disclaims beneficial ownership of the reported securities except to the extent of their pecuniary interests therein.
  Remarks: Joint Filer Information Each of the following filers has designated Alexandra Global Master Fund Ltd. as the "Designated Filer" for purposes of the attached Form 3.            (i)     Alexandra Investment Management, LLC                    767 Third Avenue, 39th Floor, New York, NY 10017            (ii)    Mikhail Filimonov                    767 Third Avenue, 39th Floor, New York, NY 10017

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