<PAGE>   1


              As filed with the Securities and Exchange Commission
                                on June 29, 1998

                                                         Registration No. 333-

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM S-8

                          REGISTRATION STATEMENT UNDER
                           THE SECURITIES ACT OF 1933

                                  BioSepra Inc.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


           Delaware                                           04-3216867
-------------------------------                         ---------------------
(State or other jurisdiction of                          (I.R.S. Employer
incorporation or organization)                          Identification Number)


111 Locke Drive, Marlborough, Massachusetts                     01752
-------------------------------------------                   ----------
(Address of Principal Executive Offices)                      (Zip Code)


                         1994 DIRECTOR STOCK OPTION PLAN
                         -------------------------------
                            (Full title of the Plan)

                              Mark G. Borden, Esq.
                                Hale and Dorr LLP
                                 60 State Street
                           Boston, Massachusetts 02109
                     ---------------------------------------
                     (Name and address of agent for service)

                                 (617) 526-6000
          -------------------------------------------------------------
          (Telephone number, including area code, of agent for service)

================================================================================
            
                         CALCULATION OF REGISTRATION FEE
                         -------------------------------
<TABLE>
<CAPTION>

--------------------------------------------------------------------------------------
Title of                          Proposed           Proposed maximum     Amount of
securities to    Amount to        maximum offering   aggregate offering   registration
be registered    be registered    price per share    price                fee
--------------------------------------------------------------------------------------
<S>              <C>              <C>                <C>                  <C> 
Common Stock,    150,000 shares   $1.39 (1)          $208,500 (1)         $100
$.01 par value
per share
--------------------------------------------------------------------------------------
</TABLE>

(1)  Estimated solely for the purpose of calculating the registration fee, and
     based upon the average of the high and low prices of the Registrant's
     Common Stock as reported by the Nasdaq National Market on June 23, 1998 in
     accordance with Rules 457(c) and 457(h) of the Securities Act of 1933.

================================================================================


<PAGE>   2


                     STATEMENT OF INCORPORATION BY REFERENCE

     This Registration Statement on Form S-8 incorporates by reference the
contents of the Registration Statement on Form S-8, File No. 33-79396, filed by
BioSepra Inc. (the "Registrant") on May 26, 1994 relating to the Registrant's
1994 Director Stock Option Plan (the "Plan") and the Registration Statement on
Form S-8, File No. 333- 05621, filed by the Registrant on June 10, 1996, which
increased by 30,000 the number of shares reserved for issuance under the Plan.




<PAGE>   3


                                   SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Marlborough, Commonwealth of Massachusetts, on the
23rd day of June, 1998.

                               BIOSEPRA INC.

                               By: /s/ Jean-Marie Vogel
                                   --------------------------------------
                                   Jean-Marie Vogel
                                   President and Chief Executive Officer

                               
                                POWER OF ATTORNEY

     We, the undersigned officers and directors of BioSepra Inc., hereby
severally constitute and appoint Jean-Marie Vogel and Mark G. Borden, and each
of them singly, our true and lawful attorneys with full power to them, and each
of them singly, to sign for us and in our names, in the capacities indicated
below, the Registration Statement on Form S-8 filed herewith, and any and all
subsequent amendments to said Registration Statement, and generally to do all
such things in our names and on our behalf and in our capacities as officers and
directors to enable BioSepra Inc. to comply with the provisions of the
Securities Act of 1933, as amended, and all requirements of the Securities and
Exchange Commission, hereby ratifying and confirming our signatures as they may
be signed by our said attorneys, or any of them, to said Registration Statement
and any and all amendments thereto.


<PAGE>   4


Pursuant to the requirements of the Securities Act, this Registration Statement
has been signed below by the following persons in the capacities and on the
dates indicated.

         Signature                         Title                    Date
         ---------                         -----                    ----

/s/ Jean-Marie Vogel                President, Chief Executive  June 23, 1998
--------------------------------    Officer and Director       
Jean-Marie Vogel                    (Principal Executive,      
                                    Financial and Accounting   
                                    Officer)                   
                                                               
                                    
/s/ Timothy J. Barberich            Director                    June 23, 1998
--------------------------------
Timothy J. Barberich

/s/ William E. Rich, Ph.D.          Director                    June 23, 1998
--------------------------------
William E. Rich, Ph.D.

/s/ William M. Cousins, Jr.         Director                    June 23, 1998
--------------------------------
William M. Cousins, Jr.

/s/ Alexander M. Klibanov, Ph.D.    Director                    June 23, 1998
--------------------------------
Alexander M. Klibanov, Ph.D.

/s/ Paul A. Looney                  Director                    June 23, 1998
--------------------------------
Paul A. Looney

/s/ Riccardo Pigliucci              Director                    June 23, 1998
--------------------------------
Riccardo Pigliucci

/s/ David P. Southwell              Director                    June 23, 1998
--------------------------------
David P. Southwell


<PAGE>   5


                            EXHIBIT INDEX

Exhibit
Number

4.1*      Certificate of Incorporation of the Registrant

4.2*      By-laws of the Registrant

4.3*      Specimen Stock Certificate of Common Stock of the Registrant

5         Opinion of Hale and Dorr LLP
 
23.1      Consent of Hale and Dorr LLP (included in Exhibit 5)

23.2      Consent of Arthur Andersen L.L.P.

23.3      Consent of Coopers & Lybrand L.L.P.

24        Power of Attorney (included on the signature page of this Registration
          Statement)


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

*    Incorporated herein by reference from the Registrant's Registration
     Statement on Form S-1 (File No. 33-75212).
[{"type": "S-8", "sequence": "1", "description": "BIOSEPRA INC. 1994 DIRECTOR STOCK OPTION PLAN", "secsgml_size_bytes": 7963}]
{"company-data": {"conformed-name": "BIOSEPRA INC", "cik": "0000919015", "assigned-sic": "2890", "irs-number": "043216867", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-58023", "film-number": "98656932"}, "business-address": {"street1": "111 LOCKE DR", "city": "MALBOROUGH", "state": "MA", "zip": "01752", "phone": "5084816802"}}
1

              As filed with the Securities and Exchange Commission
                                on June 29, 1998

                                                         Registration No. 333-

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM S-8

                          REGISTRATION STATEMENT UNDER
                           THE SECURITIES ACT OF 1933

                                  BioSepra Inc.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

           Delaware                                           04-3216867
-------------------------------                         ---------------------
(State or other jurisdiction of                          (I.R.S. Employer
incorporation or organization)                          Identification Number)

111 Locke Drive, Marlborough, Massachusetts                     01752
-------------------------------------------                   ----------
(Address of Principal Executive Offices)                      (Zip Code)

                         1994 DIRECTOR STOCK OPTION PLAN
                         -------------------------------
                            (Full title of the Plan)

                              Mark G. Borden, Esq.
                                Hale and Dorr LLP
                                 60 State Street
                           Boston, Massachusetts 02109
                     ---------------------------------------
                     (Name and address of agent for service)

                                 (617) 526-6000
          -------------------------------------------------------------
          (Telephone number, including area code, of agent for service)

================================================================================
            
                         CALCULATION OF REGISTRATION FEE
                         -------------------------------
--------------------------------------------------------------------------------------
Title of                          Proposed           Proposed maximum     Amount of
securities to    Amount to        maximum offering   aggregate offering   registration
be registered    be registered    price per share    price                fee
--------------------------------------------------------------------------------------
Common Stock,    150,000 shares   $1.39 (1)          $208,500 (1)         $100
$.01 par value
per share
--------------------------------------------------------------------------------------
(1)  Estimated solely for the purpose of calculating the registration fee, and
     based upon the average of the high and low prices of the Registrant's
     Common Stock as reported by the Nasdaq National Market on June 23, 1998 in
     accordance with Rules 457(c) and 457(h) of the Securities Act of 1933.

================================================================================
2

                     STATEMENT OF INCORPORATION BY REFERENCE

     This Registration Statement on Form S-8 incorporates by reference the
contents of the Registration Statement on Form S-8, File No. 33-79396, filed by
BioSepra Inc. (the "Registrant") on May 26, 1994 relating to the Registrant's
1994 Director Stock Option Plan (the "Plan") and the Registration Statement on
Form S-8, File No. 333- 05621, filed by the Registrant on June 10, 1996, which
increased by 30,000 the number of shares reserved for issuance under the Plan.
3

                                   SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Marlborough, Commonwealth of Massachusetts, on the
23rd day of June, 1998.

                               BIOSEPRA INC.

                               By: /s/ Jean-Marie Vogel
                                   --------------------------------------
                                   Jean-Marie Vogel
                                   President and Chief Executive Officer

                               
                                POWER OF ATTORNEY

     We, the undersigned officers and directors of BioSepra Inc., hereby
severally constitute and appoint Jean-Marie Vogel and Mark G. Borden, and each
of them singly, our true and lawful attorneys with full power to them, and each
of them singly, to sign for us and in our names, in the capacities indicated
below, the Registration Statement on Form S-8 filed herewith, and any and all
subsequent amendments to said Registration Statement, and generally to do all
such things in our names and on our behalf and in our capacities as officers and
directors to enable BioSepra Inc. to comply with the provisions of the
Securities Act of 1933, as amended, and all requirements of the Securities and
Exchange Commission, hereby ratifying and confirming our signatures as they may
be signed by our said attorneys, or any of them, to said Registration Statement
and any and all amendments thereto.
4

Pursuant to the requirements of the Securities Act, this Registration Statement
has been signed below by the following persons in the capacities and on the
dates indicated.

         Signature                         Title                    Date
         ---------                         -----                    ----

/s/ Jean-Marie Vogel                President, Chief Executive  June 23, 1998
--------------------------------    Officer and Director       
Jean-Marie Vogel                    (Principal Executive,      
                                    Financial and Accounting   
                                    Officer)                   
                                                               
                                    
/s/ Timothy J. Barberich            Director                    June 23, 1998
--------------------------------
Timothy J. Barberich

/s/ William E. Rich, Ph.D.          Director                    June 23, 1998
--------------------------------
William E. Rich, Ph.D.

/s/ William M. Cousins, Jr.         Director                    June 23, 1998
--------------------------------
William M. Cousins, Jr.

/s/ Alexander M. Klibanov, Ph.D.    Director                    June 23, 1998
--------------------------------
Alexander M. Klibanov, Ph.D.

/s/ Paul A. Looney                  Director                    June 23, 1998
--------------------------------
Paul A. Looney

/s/ Riccardo Pigliucci              Director                    June 23, 1998
--------------------------------
Riccardo Pigliucci

/s/ David P. Southwell              Director                    June 23, 1998
--------------------------------
David P. Southwell
5

                            EXHIBIT INDEX

Exhibit
Number

4.1*      Certificate of Incorporation of the Registrant

4.2*      By-laws of the Registrant

4.3*      Specimen Stock Certificate of Common Stock of the Registrant

5         Opinion of Hale and Dorr LLP
 
23.1      Consent of Hale and Dorr LLP (included in Exhibit 5)

23.2      Consent of Arthur Andersen L.L.P.

23.3      Consent of Coopers & Lybrand L.L.P.

24        Power of Attorney (included on the signature page of this Registration
          Statement)

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

*    Incorporated herein by reference from the Registrant's Registration
     Statement on Form S-1 (File No. 33-75212).