UNITED ~~STATES~~ ~~SECURITIES AND EXCHANGE COMMISSION~~STATES

~~WASHINGTON,~~SECURITIES AND ~~D.C.~~EXCHANGE ~~20549~~COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT ~~Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934~~

~~Date~~PURSUANT ofTO ~~Report~~SECTION ~~(Date~~13 ofOR ~~earliest event reported~~15(d)~~: May~~ ~~25,~~OF ~~2007 (May 22, 2007)~~THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): November 6, 2007 (November 6, 2007)

CollaGenex Pharmaceuticals, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware	0-28308	052-~~28308~~1758016	~~52-1758016~~
(State or Other Juris- diction of Incorporation		(Commission File Number)	(IRS Employer Identification No.)
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
41 University Drive, Newtown, PA		18940
(Address of Principal Executive Offices)		(Zip Code)

41 University Drive, Newtown, PA		18940
(Address of Principal Executive Offices)		(Zip Code)

(215) 579-7388

(Registrant’s telephone number, including area code~~: (215~~) ~~579-7388~~

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 12.02. ~~Termination~~Results of aOperations ~~Material~~and ~~Definitive~~Financial ~~Agreement~~Condition.

On November ~~May 22~~6, 2007, CollaGenex Pharmaceuticals, Inc., aannounced ~~Delaware~~its financial ~~corporation~~results ~~(the~~for ~~“Company”), provided written notice of termination (~~the ~~“Notice”) to~~quarter ~~Oncology~~and ~~Therapeutic~~nine ~~Networks~~months ~~(“OTN”),~~ended ~~the~~September ~~successor-in-interest to National Specialty Services~~30, ~~Inc~~2007. The ~~(“NSS”),~~full text of the ~~Company’s~~press ~~Wholesale~~release ~~Service~~issued ~~Agreement~~in connection with ~~NSS,~~the ~~executed~~announcement inis ~~February~~furnished ~~2002 and effective~~ as ofExhibit ~~November~~ 99.1, ~~2001,~~to ~~as amended~~this ~~(the “Agreement”). The Notice~~Current ~~provides~~Report ~~for termination of the Agreement effective~~ on orForm ~~about November 14, 2007~~8-K.

~~Under~~The information in this Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the ~~Agreement,~~Securities ~~OTN~~Exchange ~~acts~~Act asof 1934 (the ~~Company’s~~“Exchange aAct”) ~~non-exclusive~~or ~~authorized~~otherwise ~~distributor~~subject ofto ~~Atridox®,~~the ~~Atrisorb~~liabilities ~~FreeFlow®~~of that section, ~~and~~nor ~~Atrisorb-D®~~shall ~~and~~it ~~OTN~~be deemed ~~provides~~incorporated ~~certain~~by ~~additional~~reference ~~services,~~in ~~including~~any ~~marketing,~~filing ~~sales~~under ~~detail~~the ~~report~~Securities Act of 1933 or the ~~production~~Exchange ~~and~~Act, ~~contract~~except ~~administration~~as expressly set forth by specific reference in such a filing.

~~Upon~~Item ~~termination,~~9.01. ~~specified~~Financial ~~provisions~~Statements ~~of the Agreement will survive such termination, including those provisions that relate to certain warranties~~ and ~~indemnification~~Exhibits.

2 (d) Exhibits

~~SIGNATURE~~ The following exhibit relating to Item 2.02 shall be deemed to be furnished, and not filed:

~~Pursuant~~ 99.1 Press toRelease ~~the~~issued ~~requirements~~by ~~of the Securities~~CollaGenex ~~Exchange Act of 1934~~Pharmaceuticals, ~~the~~Inc. ~~Registrant has duly caused this report to be signed~~ on ~~its~~November ~~behalf~~6, ~~by the undersigned hereunto duly authorized~~2007.

	COLLAGENEX PHARMACEUTICALS, INC.
Date: May 25, 2007	By:	/s/ Nancy C. Broadbent
		Nancy C. Broadbent Chief Financial Officer (Principal Financial Officer)

3SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	COLLAGENEX PHARMACEUTICALS, INC.

Date: November 6, 2007	By:	/s/ Nancy C. Broadbent
			Nancy C. Broadbent
			Chief Financial Officer
			(Principal Financial Officer)

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