8-K

                       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):  June 21, 2004
                                                   -------------


                       SANGUI BIOTECH INTERNATIONAL, INC.
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             (Exact name of Registrant as specified in its charter)

                                    Colorado
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          (State or other jurisdiction of Incorporation or organization


              000-21271                                 84-1330732
 -----------------------------------        -----------------------------------
      (Commission File Number)              (I.R.S. Employer Identification No.)

                Alfred-Herrhausen-Str. 44, 58455 Witten, Germany
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               (Address of principal executive offices)(Zip Code)

                               011-49-2302-915-204
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              (Registrant's telephone number, including area code)


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







Item 9.  Regulation FD Disclosure

     Sangui BioTech and German Pharmaceutical  Company Plan Joint Development of
     Haemoglobin Wound Spray

     On June 21, 2004 Sangui Biotech International, Inc. (NASD OTCBB: SGBI)
issued a press release announcing that a renowned German medium sized
pharmaceutical company and SanguiBioTech GmbH of Witten, Germany, a wholly owned
subsidiary of Sangui BioTech International, Inc., have declared their intention
to jointly develop a haemoglobin wound spray based on Sangui's artificial oxygen
carrier for the treatment of chronic wounds. The product has undergone a number
of initial clinical experiments which give rise to the expectation that the new
product may revolutionize the treatment of chronic wounds.

Under the proposed agreement, the pharmaceutical company will acquire the
pertinent know-how, rights and patents from Sangui. The partners plan to jointly
prepare and promote international regulatory clearance of the haemoglobin wound
spray as a pharmaceutical, which then will be internationally marketed by the
pharmaceutical company. Sangui will participate in future sales of the product
through royalties. Both companies expect to sign the contract after approval by
the Supervisory Boards in August, 2004. A copy of the press release is furnished
as Exhibit 99.1 to this report.

     The information in this Current Report on Form 8-K, including the exhibit,
is furnished under "Item 2. Management's Discussion and Analysis of Financial
Condition" in accordance with SEC Release No. 33-8216. Furthermore, the
information in this Current Report on Form 8-K, including the exhibit, shall not
be deemed to be incorporated by reference into the filings of the Company under
the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934,
as amended.


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                                   SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the Undersigned, thereunto duly authorized.

                                            Sangui Biotech International, Inc.
                                           (Registrant)


Date: June 21, 2004                         /s/ Wolfgang Barnikol
                                            ----------------------------
                                            By: Wolfgang Barnikol
                                            Its: President, CEO and CFO


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                                INDEX TO EXHIBITS


Exhibit Number               Exhibit
- --------------               ---------
      99.1                Press Release dated June 21, 2004*

* This exhibit is furnished to, but not filed with, the Commission by inclusion
herein.

EX-99

                                  Exhibit 99.1

                                              LOGO AND LETTERHEAD
                                              SANGUI BIOTECH INTERNATIONAL, INC.




SANGUI BIOTECH AND GERMAN PHARMACEUTICAL COMPANY PLAN JOINT DEVELOPMENT OF
HAEMOGLOBIN WOUND SPRAY.

Witten, June 21, 2004 - A renowned German medium sized pharmaceutical company
and SanguiBioTech GmbH of Witten, Germany, a wholly owned subsidiary of Sangui
BioTech International, Inc. (NASD OTCBB: SGBI), have declared their intention to
jointly develop a haemoglobin wound spray based on Sangui's artificial oxygen
carrier for the treatment of chronic wounds. The product has undergone a number
of initial clinical experiments which give rise to the expectation that the new
product may revolutionize the treatment of chronic wounds.

Under the proposed agreement, the pharmaceutical company will acquire the
pertinent know-how, rights and patents from Sangui. The partners plan to jointly
prepare and promote international regulatory clearance of the haemoglobin wound
spray as a pharmaceutical, which then will be internationally marketed by the
pharmaceutical company. Sangui will participate in future sales of the product
through royalties. Both companies expect to sign the contract after approval by
the Supervisory Boards in August, 2004.

For more information:
Joachim Fleing
Phone: +49 (160) 741 27 17
Fax: +49 (2302) 915 191
e-mail: fleing@sangui.de


This news release includes  statements,  other than historical fact, that may be
deemed  forward-looking.  These  statements  may be accompanied by words such as
"believe,"  "estimate,"  "project,"  "expect,"  "anticipate,"  or "predict" that
conveys the uncertainty of future events or outcomes. These statements are based
on assumptions that the Company believes are reasonable;  however,  many factors
could cause the Company's actual results in the future to differ materially from
the  forward-looking  statements  made herein and in any other documents or oral
presentations  made by, or on behalf of, the Company.  Important  factors  which
could cause actual results to differ  materially  from those in  forward-looking
statements  include,  among others, the ability to obtain additional  financing,
which is not assured; rapid technological  developments and changes; problems in
developments  of the  Company's  products;  price  and  product  competition  by
competitors; general economic conditions; and factors discussed in the Company's
SEC filings.  Shareholders are cautioned that the forward-looking statements are
not guarantees of future performance and that developments  different from those
projected in the  forward-looking  statements  can be expected.  Sangui does not
intend (and is not legally  obligated)  to update  publicly any  forward-looking
statements.