<SUBMISSION>
<ACCESSION-NUMBER>0001079973-04-000514
<TYPE>3
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20041001
<FILING-DATE>20041004
<DATE-OF-FILING-DATE-CHANGE>20041004
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>WELCH DAVID E
<CIK>0001221298
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>3
<ACT>34
<FILE-NUMBER>000-50019
<FILM-NUMBER>041061394
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>1729 EAST OTERO AVE
<CITY>CENTENNIAL
<STATE>CO
<ZIP>80122
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>ASPENBIO INC
<CIK>0001167419
<ASSIGNED-SIC>2835
<IRS-NUMBER>841553387
<STATE-OF-INCORPORATION>CO
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>1585 S. PERRY STREET
<STREET2>ASPENBIO INC.
<CITY>CASTLE ROCK
<STATE>CO
<ZIP>80104
<PHONE>(303) 794-2000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1585 S. PERRY STREET
<STREET2>ASPENBIO INC.
<CITY>CASTLE ROCK
<STATE>CO
<ZIP>80104
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-10-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001167419</issuerCik>
        <issuerName>ASPENBIO INC</issuerName>
        <issuerTradingSymbol>APNB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001221298</rptOwnerCik>
            <rptOwnerName>WELCH DAVID E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1729 EAST OTERO AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CENTENNIAL</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80122</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Option (Right to Buy)</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.76</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-10-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-10-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>100000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options vest over three years, at the rate of 33.3% at the end of year one, 66.7% at the end of year two, and 100% at the end of year three.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ David E. Welch</signatureName>
        <signatureDate>2004-10-04</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
