FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Capps Scott B 2. Date of Event Requiring Statement (Month/Day/Year) 10/29/2007 3. Issuer Name and Ticker or Trading Symbol CRYOLIFE INC [CRY] (Last) (First) (Middle) CRYOLIFE, INC., 1655 ROBERTS BLVD., NW 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP-Clinical Research 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) KENNESAW, GA 30144 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 7,047 (1) D Â

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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	08/31/2003(2)	02/29/2008	Common Stock	11,750	$ 2.2	D	Â
Stock Option	09/30/2005(3)	07/24/2010	Common Stock	20,000	$ 7.06	D	Â
Stock Option	01/19/2008(4)	07/19/2012	Common Stock	1,500	$ 7.875	D	Â
Stock Option	08/02/2008(5)	08/02/2014	Common Stock	25,000	$ 9.06	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Capps Scott B CRYOLIFE, INC. 1655 ROBERTS BLVD., NW KENNESAW, GA 30144	Â	Â	  VP-Clinical Research	Â

Signatures

/s/ Scott B. Capps		10/29/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents 5,000 shares of restricted stock that vest on the third anniversary of the grant date (which was July 30, 2007) if the reporting person remains in the continuous employ of the Company.
(2)	Stock option vests in 20% increments beginning on first anniversary of grant date (which was August 31, 2002).
(3)	Stock option was granted on January 24, 2005. Stock option became fully vested by Board action on September 30, 2005.
(4)	Stock option vests in 20% increments beginning on first anniversary of grant date (which was January 19, 2007).
(5)	Stock option vests in 1/3 increments beginning on first anniversary of grant date (which was August 2, 2007).

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