UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
[]Check this box if no longer
subject to Section 16. Form 4 or OMB APPROVAL
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(Print or Type Responses)
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange
Act of 1934, Section 17(a) of the Public Utility Holding Company Act
of 1935 or Section 30(f)of the Investment Company Act of 1940
1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
BioTime, Inc. (BTIM) to Issuer (Check all applicable)
Dresner Milton H. __X__ Director _____ 10% Owner
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for _____ Officer(give _____ Other
Number of Reporting Month/Year title below) specify below)
Person (Voluntary) 3/99
28777 Northwestern Hwy, Suite 100
(Street) 5. If Amendment, 7. Individual or Joint/Group Filing
Date of Original (Check Applicable Line)
(Month/Year) _X_Form filed by One Reporting Person
Southfield MI 48304 ___Form filed by More than One
(City) (State) (Zip) Reporting Person
Table 1 -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired(A) 5. Amount of 6. Owner- 7. Nature of
(Instr. 3) action action or Disposed of (D) Securities ship Indirect
Date Code (Instr. 3, 4 and 5) Beneficially Form: Beneficial
(Instr. 8) Owned at Direct Ownership
End of Month (D) or
(Month/ Indirect
Day/ Inst. 3 and 4) (I)
Year) (A)or
Amount (D) Price (Instr. 4) (Instr. 4)
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Common Shares, 3/9/99 X 550 A $9.75 13,271 D
no par value
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Common Shares, 3/9/99 J 1,721 A $9.75
no par value
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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).
(Over)
SEC 1471(7-96)
FORM 4 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Trans- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action action ative Securities Ac- cisable and
Exercise Date Code quired (A) or Dis- Expiration
Price of (Instr. 8) posed of (D) Date
Deri- (Month/ (Instr. 3, 4 and 5) (Month/Day/
vative Day/ Year)
Security Year)
Date Expir-
(A) (D) Exer- ation
cisable Date
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Common Shares Subscription Rights $9.75 3/9/99 X 11,000 2/12/99 3/9/99
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7. Title and Amount 8. Price 9. Number 10.Owner- 11. Nature
of Underlying of of deriv- ship of
Securities Deriv- ative Form of Indirect
(Instr. 3 and 4) ative Secur- Deriv- Benefi-
Secur- ities ative cial
ity Bene- Security: Owner-
Amount or (Instr. ficially Direct ship
Title Number of 5) Owned (D)or (Instr.4)
Shares at End Indirect
of Month (I)
(Instr. 4) (Instr. 4)
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Common 550 N/A 0
Shares
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Explanation of Responses:
Mr. Dresner acquired 550 shares through the exercise of 11,000 subscription
rights. Mr. Dresner acquired an additional 1,721 shares through the exercise of
the oversubscription privelege associated with such subscription rights pursuant
to BioTime's subscription rights offer. The subscription rights were distributed
on a pro rata basis to all BioTime shareholders.
** 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.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a valid OMB
Number.
/s/Milton H. Dresner April 6, 1999
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**Signature of Reporting Person Date
