BIOPHARMACEUTICS INC
8-K, 1997-03-26
PHARMACEUTICAL PREPARATIONS
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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): October 1996

                             BIOPHARMACEUTICS, INC.
             (Exact name of Registrant as specified in its Charter)

DELAWARE                               1-9370                    13-3186327
(State or other                 (Commission File Number)       (I.R.S Employer
jurisdiction of                                                  I.D. Number)
incorporation)

         990 Station Road
        Bellport, New York                                   11713
(Address of principal executive offices)                    (Zip Code)


           Registrant's telephone number, including area code: (516) 286-5800


                                       N/A
           (Former name or former address, if changed since last report.)


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ITEM 5.     OTHER EVENTS

           On September 25, 1996 the Company  signed a Joint Venture  Agreement 
with  Advanced   Biological  Systems,   Inc.  to   commercialize Mitolactol*
Biopharmaceutics'  cancer drug. Advanced will pay  Biopharmaceutics a minimum of
$2,750,000 in cash and stock to participate  in the Joint  Venture  and fund the
approximately   $1,000,000  cost  associated  with  the  final   development  of
Mitolactol.




                                  EXHIBIT INDEX

                           Current Report on Form 8-K

                                       of

                             Biopharmaceutics, Inc.

                         Date of Report: October 9, 1996


Exhibits:

 28.14    Joint Venture Agreement dated September 25, 1996


* Registered Trademark



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                                   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.

                                      BIOPHARMACEUTICS, INC.
                                      (Registrant)

                                      By:     /s/  Edward Fine
                                              --------------------
                                              Edward Fine
                                              President, Chief Executive Officer
                                              (Signature)

Dated:  October 9, 1996

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