EXHIBIT 10.18

                            ELECTROPHARMACOLOGY, INC.
                             1993 STOCK OPTION PLAN
                                  (AS AMENDED)

         1. Purpose. The purpose of the Electropharmacology, Inc. 1993 Stock
Option Plan (the "Plan"), is to provide an incentive to officers, directors,
employees and consultants of Electropharmacology, Inc. (the "Company") and to
other persons providing significant services to the Company to remain in the
employ of the Company or provide services to the Company and contribute to its
success.

         As used in the Plan, the term "Code" shall mean the Internal Revenue
Code of 1986, as amended, and any successor statute, and the term "Subsidiary"
shall have the meaning set forth in Section 424(f) of the Code. Although the
Company has no Subsidiaries as of the date of Board approval of this Plan,
references to Subsidiaries herein shall apply to any Subsidiaries which the
Company may acquire in the future.

         2. Administration. (a) The Plan shall be administered by the Board of
Directors of the Company (the "Board"), which may from time to time delegate all
or any part of its authority under the Plan to a committee (the "Plan
Committee") of two or more non-employee Directors (as defined in Rule 16b-3 as
promulgated by the Securities and Exchange Commission pursuant to the Securities
Exchange Act of 1934) who also qualify as "outside directors" for purposes of
Section 162(m) of the Code. A majority of the Board or Plan Committee shall
constitute a quorum, and the action of the members of the Board or Plan
Committee present at any meeting at which the quorum is present, or acts
unanimously approved in writing, shall be the acts of the Board or Plan
Committee.

            (a) The interpretation and construction by the Board of any
provisions of the Plan or of any agreement, notification or document evidencing
the grant of Options and any determination by the Board pursuant to any
provision of the Plan or of any such agreement, notification or document shall
be final and conclusive. No member of the Board shall be liable for any such
action or determination made in good faith.

            (b) Subject to the provision of the Plan, the Board shall have the
sole authority to determine:

                (1) The persons to whom options to purchase Stock (as defined
herein) shall be granted;

                (2) The number of options to be granted to each person and the
number of shares of Stock to which each option pertains,subject to the
limitations set forth in section 4 of the Plan;

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                (3) The price to be paid for the Stock upon the exercise of each
option, which shall be equal to or grater than the market value per share of
Stock on the date the option is granted;

                (4) The period within which each option shall be exercised and,
with the consent of the optionee, any extensions of such period (provided,
however, that the original period and all extensions shall not exceed the
maximum period permissible under the Plan); and

                (5) The terms and conditions of each stock option agreement
entered into between the Company and persons to whom the Company has granted an
option and of any amendments thereto (provided that the optionee consents to
each such amendment).

         3. Eligibility. Officers, directors, employees and consultants of the
Company and persons providing significant services to the Company shall be
eligible to receive grants of options under the Plan.

         4. Stock Subject to Plan. (a) There shall be reserved for issue upon
the exercise of options granted under the Plan 1,500,000 shares of Common Stock
of the company ("Stock") or the number of shares of Stock, which, in accordance
with the provisions of Section 10 hereof, shall be substituted therefor. Such
shares may be shares of original issuance or treasury shares or a combination
thereof.

            (a) Upon the full or partial payment of any option price by the
transfer to the Company of shares of Stock or upon satisfaction of tax
withholding provisions in connection with any such exercise or any other payment
made or benefit realized under the Plan by the transfer or relinquishment of
shares of Stock, there shall be deemed to have been issued or transferred under
the Plan only the net number of shares of Stock actually issued or transferred
by the Company.

            (b) Upon payment in cash of the benefit provided by any award
granted under the Plan, any shares of Stock that were covered by that option
shall again be available for issuance or transfer hereunder.

            (c) Notwithstanding any other provision of the Plan to the contrary,
no optionee shall be granted options for more than 1,000,000 shares of Stock
during any period of five consecutive calendar years, subject to adjustment as
provided in Section 10 of the Plan.

         5. Terms of Options.

            (a) Incentive Stock Options. It is intended that options granted
pursuant to this Section 5(a) qualify as incentive stock options as defined in
Section 422 of the Code. Incentive stock options shall be granted only to
employees of the Company. Each stock

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option agreement evidencing an incentive stock option shall provide that the
option is subject to the following terms and conditions and to such other terms
and conditions not inconsistent therewith as the Board may deem appropriate in
each case.

                (1) Option Price. The price to be paid for each share of Stock
upon the exercise of each incentive stock option shall be determined by the
Board at the time the option is granted, but shall in no event be less than 100%
of the fair market value of the shares on the date the option is granted, or not
less than 110% of the fair market value of such shares on the date such option
is granted in the case of an individual then owning (within the meaning of
Section 424(d) of the Code) more than 10% of the total combined voting power of
all classes of stock of the Company or Subsidiaries. As used in this Plan the
term "date the option is granted" means the date on which the Board authorizes
the grant of an option hereunder or any later date specified by the Board. Fair
market value of the shares shall be (i) the mean of the high and low prices of
shares of Stock sold on the New York or American Stock Exchange on the date the
option is granted (or if there was no sale on such date, the highest asked price
for the Stock on such date), or (ii) date the option is granted, the mean
between the "bid" and "asked" prices of the Stock in the National
Over-The-Counter Market on the date the option is granted, or (iii) if the Stock
is not traded in any market, the price determined by the Board to be fair market
value, based upon such evidence as it may deem necessary or desirable.

                (2) Period of Option and Exercise. The period or periods within
which an option may be exercised shall be determined by the Board at the time
the option is granted, but in no event shall any option granted hereunder be
exercised more than ten years from the date the option was granted nor more than
five years from the date the option was granted in the case of an individual
then owning (within the meaning of Section 424(d) of the Code) more than 10% of
the total combined voting power of all classes of stock of the Company or
Subsidiaries.

                (3) Payment for Stock. (A) Each grant of an incentive stock
option shall specify the form of consideration to be paid in satisfaction of the
option price and the manner of payment of such consideration, which may include
(i) cash in the form of currency or check or other cash equivalent acceptable to
the Company, (ii) nonforfeitable, unrestricted shares of Stock, which are
already owned by the optionee and have a value at the time of exercise that is
equal to the option price, (iii) any other legal consideration that the Board
may deem appropriate, including without limitation any form of consideration
authorized under Section 5(a)(3)(B) below, on such basis as the Board may
determine in accordance with the Plan and (iv) any combination of the foregoing.

                    (A) Any grant may provide that payment of the option price
may also be made in whole or in part in the form of other shares of stock that
are subject to risk of forfeiture or restrictions on transfer. Unless otherwise
determined by the Board whenever any option price is paid in whole or in part by
means of any of the

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forms of consideration specified in this Section 5(a)(3)(B), the shares received
by the optionee upon the exercise of the option shall be subject to the same
risks of forfeiture or restrictions on transfer as those that applied to the
consideration surrendered by the optionee; provided, however, that such risks of
forfeiture and restrictions on transfer shall apply only to the same number of
shares received by the optionee as applied to the forfeitable or restricted
shares surrendered by the optionee.

                    (B) Any grant may provide for deferred payment of the option
price from the proceeds of sale through a bank or broker on the date of exercise
of some or all of the shares to which the exercise relates.

            (b) Nonqualified Stock Options. Nonqualified stock options may be
granted not only to employees but also to directors or consultants who are not
employees of the Company and to persons who provide substantial services to the
Company.

Each nonqualified stock option granted under the Plan shall be evidenced by a
stock option agreement between the person to whom such option is granted and the
Company. Such stock option agreement shall provide that the option is subject to
the following terms and conditions and to such other terms and conditions not
inconsistent therewith as the Board may deem appropriate in each case.

                (1) Option Price. The price to be paid for each share of Stock
upon the exercise of an option shall be determined by the Board at the time the
option is granted. As used in this Plan, the term "date the option is granted"
means the date on which the Board authorizes the grant of an option hereunder or
any later date specified by the Board. To the extent that the fair market value
of Stock is relevant to the pricing of the option by the Board, fair market
value of the Stock shall be determined as set forth in Section 5(a)(1) hereof.

                (2) Period of Option and Exercise. The period or periods within
which an option may be exercised shall be determined by the Board at the time
the option is granted, but in no event shall such period exceed 10 years from
the date the option is granted.

                (3) Payment for Stock. (A) Each grant of a Nonqualified Stock
Option shall specify the form of consideration to be paid in satisfaction of the
option price and the manner of payment of such consideration, which may include
(i) cash in the form of currency or check or other cash equivalent acceptable to
the Company, (ii) nonforfeitable, unrestricted shares of Stock, which are
already owned by the optionee and have a value at the time of exercise that is
equal to the option price, (iii) any other legal consideration that the Board
may deem appropriate, including without limitation any form of consideration
authorized under Section 5(b)(3)(B) below, on such basis as the Board may
determine in accordance with the Plan and (iv) any combination of the foregoing.

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                    (A) Any grant may provide that payment of the option price
may also be made in whole or in part in the form of other shares of stock that
are subject to risk of forfeiture or restrictions on transfer. Unless otherwise
determined by the Board whenever any option price is paid in whole or in part by
means of any of the forms of consideration specified in this Section 5(b)(3)(B),
the shares received by the optionee upon the exercise of the option shall be
subject to the same risks of forfeiture or restrictions on transfer as those
that applied to the consideration surrendered by the optionee; provided,
however, that such risks of forfeiture and restrictions on transfer shall apply
only to the same number of shares received by the optionee as applied to the
forfeitable or restricted shares surrendered by the optionee.

                    (B) Any grant may provide for deferred payment of the option
price from the proceeds of sale through a bank or broker on the date of exercise
of some or all of the shares to which the exercise relates.

         6. Nontransferability. The options granted pursuant to the Plan shall
be nontransferable except by will or the laws of descent and distribution, and
shall be exercisable during the optionee's lifetime only by him and after his
death, by this personal representative or by the person entitled thereto under
his will or the laws of intestate succession. Notwithstanding the foregoing, the
Board, in its sole discretion, may provide for transferability of particular
option under the Plan.

         7. Termination of Employment or Other Relationship. Upon termination of
the optionee's employment or other relationship with the Company, his rights to
exercise options then held by him shall be only as follows (in no case do the
time periods referred to below extend the term specified in any option):

            (a) Death or Disability. Upon the death of an optionee, any option
which he holds may be exercised (to the extent exercisable at his death), unless
it otherwise expires, within such period after the date of his death (not to
exceed twelve (12) months) as the Board shall prescribe in his option agreement,
by the employee's representative or by the person entitled thereto under his
will or the laws of intestate succession. Upon the disability (within the
meaning of Section 22(e)(3) of the Code) of an employee, any option which he
holds may be exercised (to the extent exercisable as of the date of disability),
unless it otherwise expires, within such period after the date of his disability
(not to exceed twelve (12) months) as the Board shall prescribe in his option
agreement.

            (b) Retirement. Upon the retirement of an officer, director or
employee or the cessation of services provided by a nonemployee (either pursuant
to a Company retirement plan, if any, or pursuant to the approval of the Board),
an option may be exercised (to the extent exercisable at the date of such
termination or cessation) by him within such period after the date of his
retirement or cessation of services (not to exceed three (3) months) as the
Board shall prescribe in his option agreement.

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            (c) Other Termination. In the event an officer, director or employee
ceases to serve as an officer or director or leaves the employ of the Company or
a nonemployee ceases to provide services to the Company for any reason other
than as set forth in (a) and (b), above, any option which he holds shall
terminate at the date his employment terminates or he ceases providing services
to the Company unless otherwise specified by the Board in the option agreement.

            (d) Board Discretion. The Board may in its sole discretion
accelerate the exercisability of any or all options upon termination of
employment or cessation of services.

         8. Change of Control of the Company. If there is a change in control of
the Company, an option granted under the Plan will, in the sole discretion of
the Board,(1) become immediately exercisable in full. For purposes of the Plan,
"Change of Control" shall mean the occurrence of any of the following events:

            (a) The Company shall merge into itself, or be merged or
consolidated with, another corporation and as a result of such merger or
consolidation less than 50% of the outstanding voting securities of the
surviving or resulting corporation shall be owned in the aggregate by the former
shareholders of the Company as the same shall have existed immediately prior to
such merger or consolidation;

            (b) The Company shall sell or otherwise transfer all or
substantially all of its assets to any other corporation or other legal person,
and immediately after such sale or transfer less than 50% of the combined voting
power of the outstanding voting securities of such corporation or person is held
in the aggregate by the former shareholders of the Company as the same shall
have existed immediately prior to such sale or transfer;

            (c) A person, within the meaning of Sections 3(a)(9), Section
13(d)(3) or 14(d)(2) (as in effect on the date hereof) of the Securities
Exchange Act of 1934, shall become the beneficial owner (as defined in Rule
13d-3 of the Securities and Exchange Commission pursuant to the Securities and
Exchange Act of 1934) (other than Joseph Mooibroek, Norton Herrick and David
Saloff and their respective affiliates) of 35% or more of the outstanding voting
securities of the Company (whether directly or indirectly); or

            (d) During any period of three consecutive years, individuals who at
the beginning of such period constitute the Board of Directors of the Company
cease, for any reason, to constitute at least a majority thereof, unless the
election, or the nomination for election by the shareholders of the Company, of
each Director first elected during any

-----------
(1) Discretion provides flexibility, but could create problems in qualifying a
transaction for pooling accounting treatment.

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such period was approved by a vote of at least one-third of the Directors of the
Company who are Directors of the Company on the date of the beginning of any
such period.

         9. Transfer to Related Corporation. In the event an employee leaves the
employ of the Company to become an employee of a Subsidiary or any employee
leaves the employ of a Subsidiary to become an employee of the Company or
another Subsidiary, such employee shall be deemed to continue as an employee for
purposes of this Plan.

         10. Adjustment of Shares. In the event of changes in the outstanding
Stock by reason of stock dividends, split-ups, consolidations, recapitalization,
reorganizations or like events (as determined by the Board), an appropriate
adjustment shall be made by the Board in the number and kind of shares reserved
under the Plan, in the number and kind of shares set forth in Section 4 hereof,
and in the number and kind of shares and the option price per share specified in
any stock option agreement with respect to any unpurchased shares. The
determination of the Board as to what adjustments shall be made shall be
conclusive. Adjustments for any options to purchase fractional shares shall also
be determined by the Board. The Board shall give prompt notice to all optionees
of any adjustment pursuant to this Section.

         11. Securities Law Requirements. The Board may require prospective
optionees, as a condition of either the grant or the exercise of an option, to
represent and establish to the satisfaction of the Board that all shares of
Stock acquired upon the exercise of such option will be acquired for investment
and not for resale. The Company may refuse to permit the sale or other
disposition of any shares acquired pursuant to any such representation to permit
the sale or other disposition of any shares acquired pursuant to any such
representation until it is satisfied that such sale or other disposition would
not be in contravention of applicable state or federal securities law.

         12. Tax Withholding. To the extent that the Company is required to
withhold federal, state, local or foreign taxes in connection with any payment
made or benefit realized by an optionee or other person under the Plan, and the
amounts available to the Company for such withholding are insufficient, it shall
be a condition to the receipt of such payment or the realization of such benefit
that an optionee or such other person make arrangements satisfactory to the
Company for payment of the balance of such taxes required to be withheld. At the
discretion of the Board, such arrangements may include relinquishment of a
portion of such benefit. The Company and any optionee or such other person may
also make similar arrangements with respect to the payment of any taxes with
respect to which withholder is not required.

         13. Amendment. The Board may amend the Plan at any time, except that
without shareholder approval:

            (a) The number of shares of Stock which may be reserved for issuance
under the Plan shall not be increased except as provided in Section 10 hereof;

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            (b) The option price per share of Stock subject to incentive options
may not be fixed at less than 100% of the fair market value of a share of Stock
on the date the option is granted;

            (c) The maximum period of ten (10) years during which the options
may be exercised may not be extended;

            (d) The class of persons eligible to receive options under the Plan
as set forth in Section 3 shall not be changed; and

            (e) This Section 13 may not be amended in a manner that limits or
reduces the amendments which require shareholder approval.

         14. Effective Date. The Plan shall be effective upon its adoption by
the Board of Directors of the Company. Options may be granted but not exercised
prior to shareholder approval of the Plan. If any options are so granted and
shareholder approval shall not have been obtained within 12 months of the date
of adoption of the Plan by the Board of Directors,such options shall terminate
retroactively as of the date they were granted.

         15. Termination. The Plan shall terminate automatically as of the close
of business on the date preceding the 10th anniversary date of its initial
adoption by the Board of Directors or earlier by resolution of the Board of
Directors or upon consummation of the disposition of capital stock or assets of
the Company, as described in Sections 8 hereof. Unless otherwise provided
herein, the termination of the Plan shall not affect the validity of any option
agreement outstanding at the date of such termination.

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