-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000919574-07-000979.txt : 20070214
<SEC-HEADER>0000919574-07-000979.hdr.sgml : 20070214
<ACCEPTANCE-DATETIME>20070213200934
ACCESSION NUMBER:		0000919574-07-000979
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20070214
DATE AS OF CHANGE:		20070213

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SILVERBACK ASET MANAGEMENT LLC
		CENTRAL INDEX KEY:			0001278960
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		1414 RALEIGH ROAD
		STREET 2:		SUITE 250
		CITY:			CHAPEL HILL
		STATE:			NC
		ZIP:			27517

	MAIL ADDRESS:	
		STREET 1:		1414 RALEIGH ROAD
		STREET 2:		SUITE 250
		CITY:			CHAPEL HILL
		STATE:			NC
		ZIP:			27517

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OXIS INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000109657
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				941620407
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-32837
		FILM NUMBER:		07613024

	BUSINESS ADDRESS:	
		STREET 1:		323 VINTAGE PARK DRIVE, SUITE B
		CITY:			FOSTER CITY
		STATE:			CA
		ZIP:			94404
		BUSINESS PHONE:		6502122568

	MAIL ADDRESS:	
		STREET 1:		323 VINTAGE PARK DRIVE, SUITE B
		CITY:			FOSTER CITY
		STATE:			CA
		ZIP:			94404

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DDI PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIAGNOSTIC DATA INC /DE/
		DATE OF NAME CHANGE:	19850312
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>d746182_13g-a.txt
<TEXT>

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
           TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
                            PURSUANT TO RULE 13d-2(b)

                                (Final Amendment)

                            OXIS International, Inc.
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                         Common Shares, par value $0.001
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    691829402
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2006
- --------------------------------------------------------------------------------
             (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)
<PAGE>

CUSIP No. 691829402
          ---------

1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Silverback Asset Management, 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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5.   SOLE VOTING POWER

     0

6.   SHARED VOTING POWER

     0

7.   SOLE DISPOSITIVE POWER

     0

8.   SHARED DISPOSITIVE POWER

     0

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES

                                                                             [_]

11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     0%

12.  TYPE OF REPORTING PERSON

     OO
<PAGE>

CUSIP No. 691829402
          ---------

1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Silverback Master, 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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5.   SOLE VOTING POWER

     0

6.   SHARED VOTING POWER

     0

7.   SOLE DISPOSITIVE POWER

     0

8.   SHARED DISPOSITIVE POWER

     0

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES

                                                                             [_]

11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     0%

12.  TYPE OF REPORTING PERSON

     CO
<PAGE>

CUSIP No. 691829402
          ---------

1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Elliot Bossen

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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

5.   SOLE VOTING POWER

     1,765,793

6.   SHARED VOTING POWER

7.   SOLE DISPOSITIVE POWER

     1,765,793

8.   SHARED DISPOSITIVE POWER

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,765,793

10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES

                                                                             [_]

11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     4.0%

12.  TYPE OF REPORTING PERSON

     IN
<PAGE>

CUSIP No. 691829402
          ---------

Item 1(a).  Name of Issuer:

            Oxis International, Inc.
            --------------------------------------------------------------------

Item 1(b).  Address of Issuer's Principal Executive Offices:

            323 Vintage Park Drive, Suite B
            Foster City, California 94404
            --------------------------------------------------------------------

Item 2(a).  Name of Person Filing:

            Silverback Asset Management, LLC
            Silverback Master, Ltd.
            Elliot Bossen
            --------------------------------------------------------------------

Item 2(b).  Address of Principal Business Office, or if None, Residence:

            Silverback Asset Management, LLC
            1414 Raleigh Road
            Suite 250
            Chapel Hill, NC  27517

            Silverback Master, Ltd.
            c/o International Fund Services (Ireland) Limited
            Bishop's Square, Third Floor
            Redmond's Hill
            Dublin 2, Ireland

            Elliot Bossen
            c/o Silverback Asset Management, LLC
            1414 Raleigh Road
            Suite 250
            Chapel Hill, NC  27517

            --------------------------------------------------------------------

Item 2(c).  Citizenship:

            Silverback Asset Management, LLC - Delaware
            Silverback Master, Ltd. - Cayman Islands
            Elliot Bossen - United States of America
            --------------------------------------------------------------------

Item 2(d).  Title of Class of Securities:

            Common Shares, par value $0.001
            --------------------------------------------------------------------

Item 2(e).  CUSIP Number:

            691892402
            --------------------------------------------------------------------

Item 3.     If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
            or (c), Check Whether the Person Filing is a:

     (a)  [_]  Broker or dealer registered under Section 15 of the Act (15
               U.S.C. 78c).

     (b)  [_]  Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).

     (c)  [_]  Insurance company as defined in Section 3(a)(19) of the Act (15
               U.S.C. 78c).

     (d)  [_]  Investment company registered under Section 8 of the Investment
               Company Act of 1940 (15 U.S.C. 80a-8).

     (e)  [_]  An investment adviser in accordance with Section
               240.13d-1(b)(1)(ii)(E);

     (f)  [_]  An employee benefit plan or endowment fund in accordance with
               Section 240.13d-1(b)(1)(ii)(F);

     (g)  [_]  A parent holding company or control person in accordance with
               Section 240.13d-1(b)(1)(ii)(G);

     (h)  [_]  A savings association as defined in Section 3(b) of the Federal
               Deposit Insurance Act (12 U.S.C.1813);

     (i)  [_]  A church plan that is excluded from the definition of an
               investment company under Section 3(c)(14) of the Investment
               Company Act of 1940 (15 U.S.C. 80a-3);

     (j)  [_]  Group, in accordance with s.240.13d-1(b)(1)(ii)(J).

Item 4.   Ownership.

     (a)  Amount beneficially owned:

          Silverback Asset Management, LLC - 0
          Silverback Master, Ltd. - 0
          Elliot Bossen - 1,765,793
          ----------------------------------------------------------------------

     (b)  Percent of class:

          Silverback Asset Management, LLC - 0%
          Silverback Master, Ltd. - 0%
          Elliot Bossen - 4.0%
          ----------------------------------------------------------------------

     (c)  Number of shares as to which such person has:

Silverback Asset Management, LLC

          (i)  Sole power to vote or to direct the vote                  0
                                                              -----------------,

          (ii) Shared power to vote or to direct the vote                0
                                                              -----------------,

         (iii) Sole power to dispose or to direct the
               disposition of                                            0
                                                              -----------------,

          (iv) Shared power to dispose or to direct the
               disposition of                                            0
                                                              -----------------.

Silverback Master, Ltd.

          (i)  Sole power to vote or to direct the vote                  0
                                                              -----------------,

          (ii) Shared power to vote or to direct the vote                0
                                                              -----------------,

         (iii) Sole power to dispose or to direct the
               disposition of                                            0
                                                              -----------------,

          (iv) Shared power to dispose or to direct the
               disposition of                                            0
                                                              -----------------.

Elliot Bossen

          (i)  Sole power to vote or to direct the vote          1,765,793
                                                              -----------------,

          (ii) Shared power to vote or to direct the vote                0
                                                              -----------------,

         (iii) Sole power to dispose or to direct the
               disposition of                                    1,765,793
                                                              -----------------,

          (iv) Shared power to dispose or to direct the
               disposition of                                            0
                                                              -----------------.

Item 5.   Ownership of Five Percent or Less of a Class.

     If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following [X].

          This Final Amendment reflects that as of December 31, 2006, each of
          Silverback Asset Management, LLC, Silverback Master, Ltd. and Elliot
          Bossen, own less than 5% of the Common Shares of the Issuer.
          ----------------------------------------------------------------------

Item 6.   Ownership of More Than Five Percent on Behalf of Another Person.

          N/A
          ----------------------------------------------------------------------

Item 7.   Identification and Classification of the Subsidiary Which Acquired the
          Security Being Reported on by the Parent Holding Company or Control
          Person.

          N/A
          ----------------------------------------------------------------------

Item 8.   Identification and Classification of Members of the Group.

          N/A
          ----------------------------------------------------------------------

Item 9.   Notice of Dissolution of Group.

          N/A
          ----------------------------------------------------------------------

Item 10.  Certifications.

          By signing below I certify that, to the best of my 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 such purpose or effect.
<PAGE>

                                    SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

                                                  February 14, 2007
                                        ----------------------------------------
                                                        (Date)


                                        Silverback Asset Management, LLC

                                        By: /s/ Elliot Bossen
                                            Name: Elliot Bossen
                                            Title: Managing Member


                                        Silverback Master, Ltd.

                                        By: /s/ Elliot Bossen
                                            -----------------
                                            Name: Elliot Bossen
                                            Title: Director

                                        /s/ Elliot Bossen
                                        -----------------
                                            Elliot Bossen
<PAGE>

Exhibit A
- ---------

     The undersigned agree that this Schedule 13G dated February 14, 2007
relating to the Common Shares, par value $0.001, of OXIS International, Inc. is
being filed on behalf of each of Silverback Asset Management, LLC, Silverback
Master, Ltd. and Elliot Bossen.

                                                    February 14, 2007
                                        ----------------------------------------
                                                        (Date)


                                        Silverback Asset Management, LLC

                                        By: /s/ Elliot Bossen
                                            Name: Elliot Bossen
                                            Title: Managing Member


                                        Silverback Master, Ltd.

                                        By: /s/ Elliot Bossen
                                            -----------------
                                            Name: Elliot Bossen
                                            Title: Director

                                        /s/ Elliot Bossen
                                        -----------------
                                            Elliot Bossen

SK 04098 0001 746182
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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