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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 5

ANNUAL 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(h) of the Investment Company Act of 1940

o Check box if no longer
subject to Section 16.
Form 4 or Form 5
obligations may continue.
See Instruction 1(b).
o Form 3 Holdings Reported
o Form 4 Transactions Reported
1. Name and Address of Reporting
Person*		 2. Issuer Name and Ticker or Trading
Symbol		 3. I.R.S. Identification Number of Reporting
Person, if an entity (Voluntary)
  Segall, Paul E.
(Last) (First) (Middle)		   BioTime, Inc. (BTX)
 
   
                 
  935 Pardee Street
4. Statement for Month/Year 5. If Amendment, Date of Original (Month/Year)
    12/02
 
  (Street) 6. Relationship of Reporting Person(s)
to Issuer (Check All Applicable)		 7. Individual or Joint/Group Reporting
(Check Applicable Line)
  Berkeley, CA 94710
(City)        (State)        (Zip)		   x  Director o  10% Owner   x Form filed by One Reporting Person
    x  Officer (give title below)   o Form filed by More than One Reporting Person
    o  Other (specify below)  
      Chairman and Chief Executive Officer
     
*   If the form is filed by more than one reporting person, see instruction 4(b)(v).

 

                                                 
Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of
Security
(Instr. 3)		 2. Transaction
Date
(Month/Day/Year)		 2A. Deemed Execution
Date, if any
(Month/Day/Year)		 3. Transaction
Code
(Instr. 8)		 4. Securities Acquired (A)
or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities
Beneficially Owned
at the End of Issuer's
Fiscal Year
(Instr. 3 and 4)		 6. Ownership
Form:
Direct (D) or
Indirect (I)
(Instr. 4)		 7. Nature of
Indirect
Beneficial
Ownership
(Instr. 4)
                    Amount (A)
or
(D)		 Price            
  Common Shares, no par value               268,245(1)     D  
  Common Shares, no par value               282,163(2)     I   Shares owned by spouse
                     
                     
                     
                     
                     

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Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
  (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative
Security
(Instr. 3)		 2. Conversion or Exercise
Price of Derivative
Security		 3. Transaction Date
(Month/Day/Year)		 3A. Deemed Execution
Date, if any
(Month/Day/Year)		 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities
Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
                            (A) (D)
  Option to Purchase Common Shares     $4.00          
  Option to Purchase Common Shares     $4.00          
  Option to Purchase Common Shares     $4.00          
  Option to Purchase Common Shares     $4.00          
  Option to Purchase Common Shares     $4.00          
  Option to Purchase Common Shares     $4.00          
               
               
               

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Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued
(e.g., puts, calls, warrants, options, convertible securities)
6. Date Exercisable and
Expiration Date
(Month/Day/Year)		 7. Title and Amount of
Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative
Security
(Instr. 5)		 9. Number of Derivative
Securities Beneficially
Owned at End of
Year
(Instr. 4)		 10. Ownership of
Derivative Security:
Direct (D)
or Indirect (I)
(Instr. 4)		 11. Nature of
Indirect
Beneficial
Ownership
(Instr. 4)
  Date
Exercisable		 Expiration
Date		   Title Amount or
Number of
Shares		                        
  10/28/02 10/27/07   Common Shares 41,666     N/A       41,666     D  
  1/01/03 10/27/07   Common Shares 41,667     N/A       41,667     D  
  1/01/04 10/27/07   Common Shares 41,667     N/A       41,667     D  
  10/28/02 10/27/07   Common Shares 26,666     N/A       26,666     I   Options owned by spouse
  1/01/03 10/27/07   Common Shares 26,667     N/A       26,667     I   Options owned by spouse
  1/01/04 10/27/07   Common Shares 26,667     N/A       26,667     I   Options owned by spouse
                   
                   
                   

Explanation of Responses:

(1) Includes 125,000 shares that may be acquired through the exercise of stock options

(2) Includes 80,000 shares that may be acquired through the exercise of stock options

/s/Paul E. Segall   February 18, 2003
**Signature of Reporting Person		  
Date

**   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 provided is insufficient, see Instruction 6 for procedure.

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