SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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)
                              (Amendment No. )(1)


                                   Lpath, Inc.
 ------------------------------------------------------------------------------
                                (Name of Issuer)


                          Common Stock, $.001 par value
 ------------------------------------------------------------------------------

                         (Title of Class of Securities)


                                   548910 10 8
 ------------------------------------------------------------------------------
                                 (CUSIP Number)


                                November 30, 2005
  -----------------------------------------------------------------------------
             (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)


----------------
         (1) 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 disclosures provided in a prior cover page. The information required
on 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 or otherwise
subject to the liabilities of that section of the Act but shall be subject to
all other provisions of the Act.




CUSIP No. 548910 10 8                                        Page 2 of 6 Pages


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

             Johnson & Johnson
             22-1024240
--------------------------------
2. CHECK THE APPROPRIATE BOX IF                 (a) [ ]
   A MEMBER OF A GROUP                          (b) [ ]

--------------------------------
3. SEC USE ONLY
--------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION

   New Jersey
--------------------------------
   NUMBER OF          5. SOLE VOTING POWER
    SHARES
 BENEFICIALLY                        -0-
   OWNED BY
     EACH
   REPORTING          6. SHARED VOTING POWER
  PERSON WITH
                           2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)

                      --------------------------------------------------------
                      7. SOLE DISPOSITIVE POWER

                                   -0-
                      --------------------------------------------------------
                      8. SHARED DISPOSITIVE POWER

                           2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)
--------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                           2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)

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

--------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  8.4%
--------------------------------
12. TYPE OF REPORTING PERSON

                  CO
--------------------------------



CUSIP No. 548910 10 8                                        Page 3 of 6 Pages

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

             Johnson & Johnson Development Corporation
             22-2007137
--------------------------------

2. CHECK THE APPROPRIATE BOX IF               (a) [ ]
   A MEMBER OF A GROUP                        (b) [ ]
--------------------------------
3. SEC USE ONLY
--------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION

         New Jersey
--------------------------------
  NUMBER OF           5. SOLE VOTING POWER
   SHARES
 BENEFICIALLY                        -0-
   OWNED BY
    EACH
 REPORTING            6. SHARED VOTING POWER
  PERSON
  WITH
                           2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)

                      ---------------------------------
                      7. SOLE DISPOSITIVE POWER

                                     -0-
                      ---------------------------------
                      8. SHARED DISPOSITIVE POWER

                           2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)
--------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                           2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)

--------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
                                                 [ ]
--------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  8.4%
--------------------------------
12. TYPE OF REPORTING PERSON

                  CO




CUSIP No. 548910 10 8                                        Page 4 of 6 Pages

                                  Schedule 13G
                                  ------------

ITEM 1(a) -                NAME OF ISSUER:

                           Lpath, Inc.

ITEM 1(b) -                ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
                           6335 Ferris Square, Suite A
                           San Diego, CA 92121

ITEM 2(a) -                NAME OF PERSON FILING:

         This statement is being filed by Johnson & Johnson, a New Jersey
corporation ("J&J"), and Johnson & Johnson Development Corporation, a New Jersey
corporation ("JJDC"). JJDC is a wholly-owned subsidiary of J&J. The securities
reported herein as being held by J&J and JJDC are directly beneficially owned by
JJDC. J&J may be deemed to indirectly beneficially own the securities that are
directly beneficially owned by JJDC.

ITEM 2(b) -                ADDRESS OF PRINCIPAL BUSINESS OFFICE:

                           One Johnson & Johnson Plaza
                           New Brunswick, NJ 08933

ITEM 2(c) -                CITIZENSHIP:

                           J&J: New Jersey
                           JJDC: New Jersey

ITEM 2(d) -                TITLE OF CLASS OF SECURITIES:

                           Common Stock, $.001 par value per share
                           ("Common Stock")

ITEM 2(e) -                CUSIP NUMBER:

                           548910 10 8

ITEM 3 -                   STATEMENTS FILED PURSUANT TO RULES 13D-1(B) OR
                           13D-2(B) OR (C):

                           Not applicable.

ITEM 4 -                   OWNERSHIP:

                           (a) Amount Beneficially Owned:

                           J&J:  2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)
                           JJDC:  2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)

                           (b) Percent of Class:

                           J&J: 8.4%
                           JJDC: 8.4%




CUSIP No. 548910 10 8                                        Page 5 of 6 Pages


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

                           (i) sole power to vote or to direct the vote: -0-

                           (ii) shared power to vote or to direct the vote:

                           J&J:  2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)
                           JJDC:  2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)

                           (iii) sole power to dispose or to direct the
                           disposition of: -0-

                           (iv) shared power to dispose or to direct the
                           disposition of:

                           J&J:  2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)
                           JJDC:  2,012,544 shares of Common Stock
                           (including shares issuable upon exercise of warrants)


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 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 - CERTIFICATION:

     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 that purpose or effect.




CUSIP No. 548910 10 8                                        Page 6 of 6 Pages

                                    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.

                                  JOHNSON & JOHNSON


                                  By /s/ MICHAEL H. ULLMANN
                                     -------------------------
                                  Name:  Michael H. Ullmann
                                  Title: Secretary


                                  JOHNSON & JOHNSON DEVELOPMENT CORPORATION


                                  By /s/ MANISH YADAV
                                     -----------------------
                                  Name:   Manish Yadav
                                  Title:  Secretary

Dated: February 1, 2006