Statement of Changes in Beneficial Ownership (4)

FORM 4

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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3235-0287

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * CR Group L.P.	2. Issuer Name and Ticker or Trading Symbol VALERITAS INC [ VLRX ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    __X__ 10% Owner _____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle) 1000 MAIN ST., SUITE 2500	3. Date of Earliest Transaction (MM/DD/YYYY) 9/30/2019
(Street) HOUSTON, TX 77002 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series B Convertible Preferred Stock	(1)	9/30/2019		P		1704890		(1)	(1)	Common Stock	1704890	(1)	1704890	I	By Capital Royalty Partners II L.P. (2)
Series B Convertible Preferred Stock	(1)	9/30/2019		P		1908922		(1)	(1)	Common Stock	1908922	(1)	1908922	I	By Capital Royalty Partners II ? Parallel Fund ?A? L.P. (2)
Series B Convertible Preferred Stock	(1)	9/30/2019		P		3116675		(1)	(1)	Common Stock	3116675	(1)	3116675	I	By Parallel Investment Opportunity Partners II L.P. (2)
Series B Convertible Preferred Stock	(1)	9/30/2019		P		8242606		(1)	(1)	Common Stock	8242606	(1)	8242606	I	By Capital Royalty Partners II ? Parallel Fund ?B? (Cayman) L.P. (2)
Series B Convertible Preferred Stock	(1)	9/30/2019		P		602493		(1)	(1)	Common Stock	602493	(1)	602493	I	By Capital Royalty Partners II (Cayman) L.P. (2)

Explanation of Responses:
(1)	The shares of Series B Convertible Preferred Stock (the "Series B") were received in exchange for an aggregate $22.7 million of indebtedness held by the Funds (as defined below). Each share of Series B is immediately convertible into one share of the Issuer's common stock at any time at the election of the holder. The Series B has no expiration date.
(2)	CR Group L.P. ("CRG") serves as the investment manager for Capital Royalty Partners II L.P., Capital Royalty Partners II (Cayman) L.P., Capital Royalty Partners II Parallel Fund "A" L.P., Capital Royalty Partners II Parallel Fund "B" (Cayman) L.P. and Parallel Investment Opportunities Partners II, L.P. (collectively, the "Funds").

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
CR Group L.P. 1000 MAIN ST. SUITE 2500 HOUSTON, TX 77002		X
CAPITAL ROYALTY PARTNERS II L.P. 1000 MAIN ST. SUITE 2500 HOUSTON, TX 77002		X
CAPITAL ROYALTY PARTNERS II (CAYMAN) L.P. 1000 MAIN ST. SUITE 2500 HOUSTON, TX 77002		X
CAPITAL ROYALTY PARTNERS II - PARALLEL FUND (A) L.P. 1000 MAIN ST. SUITE 2500 HOUSTON, TX 77002		X
PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II, L.P. 1000 MAIN ST. SUITE 2500 HOUSTON, TX 77002		X
Capital Royalty Partners II Parallel Fund B (Cayman) L.P. 1000 MAIN ST. SUITE 2500 HOUSTON, TX 77002		X

Signatures
/s/ Andrei Dorenbaum, authorized signatory for CR Group L.P. and each of the Funds		10/2/2019
**Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(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).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

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