SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

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


Date of Report (Date of earliest event reported): April 24, 1997.




                                  BioTime, Inc.
             (Exact name of registrant as specified in its charter)

   California                     1-12830                    94-3127919
(State or other           (Commission File Number)         (IRS Employer
jurisdiction of                                          dentification No.)
incorporation)

                                935 Pardee Street
                           Berkeley, California 94710
                    (Address of principal executive offices)

                                 (510) 845-9535
              (Registrant's telephone number, including area code)



                                        1

<PAGE>



Item 5.  Other Events.

         On April 23, 1997, BioTime and Abbott Laboratories  ("Abbott") entered
into an  Exclusive  License  Agreement  (the  "License  Agreement")  under which
BioTime  has  granted to Abbott an  exclusive  license to  manufacture  and sell
BioTime's  proprietary blood plasma volume expander  solution  Hextend(R) in the
United States and Canada for all therapeutic uses other than hypothermic surgery
where the patient's  body  temperature is lower than  12(degree)C  ("Hypothermic
Use"), or for use in other procedures involving replacement of substantially all
of a patient's  circulating  blood volume  ("Total Body  Washout").  BioTime has
retained all rights to  manufacture,  sell or license Hextend and other products
in all other countries.

         Under the  License  Agreement,  Abbott has agreed to pay  BioTime up to
$40,000,000  in license fees and to provide  assistance to BioTime in connection
with the  Company's  Phase III  clinical  trials of Hextend.  $1,000,000  of the
license fees is payable 45 days after the signing of the License Agreement,  and
an  additional   $1,500,000  will  become  payable  in  installments   upon  the
achievement of specific milestones pertaining to the allowance of certain patent
claims pending,  the filing and approval of a new drug  application for Hextend,
and the  commencement  of sales of the product.  Up to $37,500,000 of additional
license fees will be payable based upon annual net sales of Hextend, at the rate
of 10% of annual  net sales if annual  net  sales  exceed  $30,000,000  or 5% if
annual net sales are between  $15,000,0000 and $30,000,000.  Abbott's obligation
to pay licensing  fees on sales of Hextend will expire on the earlier of January
1, 2007 or, on a country by country basis, when all patents  protecting  Hextend
in the applicable  country expire or any third party obtains certain  regulatory
approvals to market a generic equivalent product in that country.

         In addition to the license  fees,  Abbott will pay BioTime a royalty on
annual net sales of Hextend. The royalty rate will be 5% plus an additional .22%
for each  $1,000,000  of annual net sales,  up to a maximum of royalty rate 36%.
Abbott's  obligation  to pay  royalties  on sales of Hextend  will expire in the
United States or Canada when all patents  protecting  Hextend in the  applicable
country  expire and any third party  obtains  certain  regulatory  approvals  to
market a generic equivalent product in that country.

         Abbott has agreed that BioTime may convert Abbott's  exclusive  license
to a  non-exclusive  license or may  terminate  the license  outright if certain
minimum  sales and  royalty  payments  are not met.  In order to  terminate  the
license outright,  BioTime would pay a termination fee in an amount ranging from
the  milestone  payments  made by Abbott to an amount equal to three times prior
year net sales,  depending  upon when  termination  occurs.  Abbott's  exclusive
license also may terminate,  without the payment of termination fees by BioTime,
if Abbott fails to market Hextend.  Abbott has agreed to manufacture Hextend for
sale by BioTime in the event that  Abbott's  exclusive  license is terminated in
either case.

         Abbott may also acquire  additional  licenses to  manufacture  and sell
BioTime plasma expander products and products for Hypothermic  Surgery and Total
Body  Washout in  the United States and Canada.  If Abbott does not exercise its
right to acquire a new product  license,  BioTime may  manufacture  and sell the
product itself or may license others to do so.

         The foregoing  description  of the License  Agreement is a summary only
and is  qualified  in all  respects by reference to the full text of the License
Agreement, a copy of which is filed as an Exhibit to this report.


Item 7.  Financial Statements and Exhibits.

(c) Exhibits.

Exhibit 99.1      Exclusive License Agreement, dated April 23, 1997,
                  between BioTime, Inc. and Abbott Laboratories. (Portions of 
                  this exhibit have been omitted pursuant to a request for 
                  confidential treatment)



                                        2

<PAGE>



                                   SIGNATURES

         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.


                                           BIOTIME, INC.


Date:  April __, 1997                By:_______________________________________
                                           Paul E. Segall,
                                           President and Chief Executive Officer




                                        3

<PAGE>


                                  EXHIBIT INDEX


Exhibit 99.1      Exclusive License Agreement, dated April 23, 1997,
                  between BioTime, Inc. and Abbott Laboratories.



                                      4
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SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

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

Date of Report (Date of earliest event reported): April 24, 1997.

                                  BioTime, Inc.
             (Exact name of registrant as specified in its charter)

   California                     1-12830                    94-3127919
(State or other           (Commission File Number)         (IRS Employer
jurisdiction of                                          dentification No.)
incorporation)

                                935 Pardee Street
                           Berkeley, California 94710
                    (Address of principal executive offices)

                                 (510) 845-9535
              (Registrant's telephone number, including area code)

                                        1
Item 5.  Other Events.

         On April 23, 1997, BioTime and Abbott Laboratories  ("Abbott") entered
into an  Exclusive  License  Agreement  (the  "License  Agreement")  under which
BioTime  has  granted to Abbott an  exclusive  license to  manufacture  and sell
BioTime's  proprietary blood plasma volume expander  solution  Hextend(R) in the
United States and Canada for all therapeutic uses other than hypothermic surgery
where the patient's  body  temperature is lower than  12(degree)C  ("Hypothermic
Use"), or for use in other procedures involving replacement of substantially all
of a patient's  circulating  blood volume  ("Total Body  Washout").  BioTime has
retained all rights to  manufacture,  sell or license Hextend and other products
in all other countries.

         Under the  License  Agreement,  Abbott has agreed to pay  BioTime up to
$40,000,000  in license fees and to provide  assistance to BioTime in connection
with the  Company's  Phase III  clinical  trials of Hextend.  $1,000,000  of the
license fees is payable 45 days after the signing of the License Agreement,  and
an  additional   $1,500,000  will  become  payable  in  installments   upon  the
achievement of specific milestones pertaining to the allowance of certain patent
claims pending,  the filing and approval of a new drug  application for Hextend,
and the  commencement  of sales of the product.  Up to $37,500,000 of additional
license fees will be payable based upon annual net sales of Hextend, at the rate
of 10% of annual  net sales if annual  net  sales  exceed  $30,000,000  or 5% if
annual net sales are between  $15,000,0000 and $30,000,000.  Abbott's obligation
to pay licensing  fees on sales of Hextend will expire on the earlier of January
1, 2007 or, on a country by country basis, when all patents  protecting  Hextend
in the applicable  country expire or any third party obtains certain  regulatory
approvals to market a generic equivalent product in that country.

         In addition to the license  fees,  Abbott will pay BioTime a royalty on
annual net sales of Hextend. The royalty rate will be 5% plus an additional .22%
for each  $1,000,000  of annual net sales,  up to a maximum of royalty rate 36%.
Abbott's  obligation  to pay  royalties  on sales of Hextend  will expire in the
United States or Canada when all patents  protecting  Hextend in the  applicable
country  expire and any third party  obtains  certain  regulatory  approvals  to
market a generic equivalent product in that country.

         Abbott has agreed that BioTime may convert Abbott's  exclusive  license
to a  non-exclusive  license or may  terminate  the license  outright if certain
minimum  sales and  royalty  payments  are not met.  In order to  terminate  the
license outright,  BioTime would pay a termination fee in an amount ranging from
the  milestone  payments  made by Abbott to an amount equal to three times prior
year net sales,  depending  upon when  termination  occurs.  Abbott's  exclusive
license also may terminate,  without the payment of termination fees by BioTime,
if Abbott fails to market Hextend.  Abbott has agreed to manufacture Hextend for
sale by BioTime in the event that  Abbott's  exclusive  license is terminated in
either case.

         Abbott may also acquire  additional  licenses to  manufacture  and sell
BioTime plasma expander products and products for Hypothermic  Surgery and Total
Body  Washout in  the United States and Canada.  If Abbott does not exercise its
right to acquire a new product  license,  BioTime may  manufacture  and sell the
product itself or may license others to do so.

         The foregoing  description  of the License  Agreement is a summary only
and is  qualified  in all  respects by reference to the full text of the License
Agreement, a copy of which is filed as an Exhibit to this report.

Item 7.  Financial Statements and Exhibits.

(c) Exhibits.

Exhibit 99.1      Exclusive License Agreement, dated April 23, 1997,
                  between BioTime, Inc. and Abbott Laboratories. (Portions of 
                  this exhibit have been omitted pursuant to a request for 
                  confidential treatment)

                                        2
SIGNATURES

         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.

                                           BIOTIME, INC.

Date:  April __, 1997                By:_______________________________________
                                           Paul E. Segall,
                                           President and Chief Executive Officer

                                        3
EXHIBIT INDEX

Exhibit 99.1      Exclusive License Agreement, dated April 23, 1997,
                  between BioTime, Inc. and Abbott Laboratories.

                                      4