<SUBMISSION>
<ACCESSION-NUMBER>0001079973-08-000385
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20080402
<ITEMS>1.01
<ITEMS>9.01
<FILING-DATE>20080407
<DATE-OF-FILING-DATE-CHANGE>20080407
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AspenBio Pharma, Inc.
<CIK>0001167419
<ASSIGNED-SIC>2835
<IRS-NUMBER>841553387
<STATE-OF-INCORPORATION>CO
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-33675
<FILM-NUMBER>08742173
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1585 S. PERRY STREET
<CITY>CASTLE ROCK
<STATE>CO
<ZIP>80104
<PHONE>(303) 794-2000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1585 S. PERRY STREET
<CITY>CASTLE ROCK
<STATE>CO
<ZIP>80104
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ASPENBIO INC
<DATE-CHANGED>20020213
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>appy_8k-040708.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>AspenBio Pharma, Inc. Form 8-K</TITLE>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>UNITED STATES <BR>SECURITIES AND EXCHANGE
COMMISSION
<BR>Washington, D.C. 20549</B> </FONT> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>FORM 8-K</B> </FONT> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>CURRENT REPORT</B> </FONT> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>Pursuant to Section 13
OR 15(d) of <BR>The Securities Exchange
Act of 1934</B> </FONT> </P>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Date
of Report (Date of earliest event reported) &nbsp;&nbsp;
April 2, 2008</B> </FONT> </P>






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     <TD WIDTH="99%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><U><B>AspenBio Pharma, Inc.  </B></U></FONT></TD>
     <TD WIDTH="1%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Exact name of registrant as specified in charter)
</FONT></TD>
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</FONT></TD></TR>
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<BR>







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<FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><B>Colorado </B></U><B>&nbsp;&nbsp;&nbsp;<BR>
(State or other jurisdiction</B><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>of incorporation)</B> </FONT>
</TD>
     <TD WIDTH="33%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;<U><B>001-33675 </B></U>&nbsp;&nbsp;<B><BR>
(Commission <BR>
File Number)</B> </FONT>
</TD>
     <TD WIDTH="33%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><B>84-1553387</B></U>&nbsp;&nbsp;<B><BR>
&nbsp;&nbsp;&nbsp;(IRS Employer<BR>
&nbsp;Identification No.)</B> </FONT>
</TD></TR>
</TABLE>
<BR>


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     <TD WIDTH="50%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><B>1585 South Perry Street, Castle Rock, CO</B></U><B><BR>
(Address of principal executive offices)</B> </FONT>
</TD>
     <TD WIDTH="50%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;<U><B>80104</B></U>&nbsp;&nbsp;<B><BR>
(Zip Code)</B> </FONT>
</TD></TR>
</TABLE>
<BR>




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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Registrant&#146;s
telephone number, including area code (303) 794-2000</B> </FONT> </P>
<BR><BR>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2. below): </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[&nbsp;&nbsp;&nbsp;]</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) </FONT></TD>
</TR>
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<BR>
<BR><BR>




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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 1.01
&nbsp;&#151;&nbsp; Entry into a Material Definitive Agreement.</B> </FONT> </H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
April 2, 2008, AspenBio Pharma, Inc. (the &#147;Company&#148;) entered into a license
agreement with Novartis Animal Health, Inc. for the world-wide rights for the development
and launch of AspenBio&#146;s novel recombinant single-chain bovine products, BoviPure
LH&#153; and BoviPure FSH&#153;. The license agreement is generally for the term of the
patents and the arrangement provides for a sharing of product development, costs and
worldwide product sales. AspenBio receives an upfront cash payment and ongoing royalties
based upon net direct product margins as defined and specified under the agreement.
AspenBio has agreed to share in 35% of the product development and registration costs. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company issued a press release on April 7, 2008 titled, &#147;AspenBio Pharma Enters
Worldwide License Agreement for Bovine Reproduction Drugs&#148;, in connection with the
agreement, a copy of which is attached hereto as Exhibit&nbsp;99.1 and incorporated herein
by reference. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 9.01
&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</B> </FONT> </H1>

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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Exhibit <BR><U>No.&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT> </TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;<BR><U>Description</U> </FONT> </TD>
</TR>
</TABLE>
<BR>



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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1 </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Press
release dated April 7, 2008 titled, &#147;AspenBio Pharma Enters Worldwide
LicenseAgreement for Bovine Reproduction Drugs&#148; </FONT></TD>
</TR>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.  </FONT></P>







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     <TD WIDTH="45%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
<BR>
Date: &nbsp; April 7, 2008<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></TD>
     <TD WIDTH="40%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
AspenBio Pharma, Inc.<BR>
(Registrant)<BR>
<BR>
<U>/s/ Jeffrey G. McGonegal</U><BR>
Jeffrey G. McGonegal<BR>
 Chief Financial Officer<BR> </FONT>

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&nbsp; </FONT>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>appy_8k-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 99.1 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><B>AspenBio Pharma
Enters Worldwide License Agreement for Bovine Reproduction Drugs</B> </FONT> </H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B>Exclusive Agreement
Initiates Development of First Products in Recombinant Drug Platform</B> </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>CASTLE ROCK, CO. &#150; April 7,
2008 &#151; AspenBio Pharma, Inc. </B>(NASDAQ: APPY) an emerging bio-pharmaceutical
company dedicated to the development of novel drugs and diagnostics for animals and
humans, has entered a long-term exclusive license and commercialization agreement with
<B>Novartis Animal Health, Inc.</B> for the development and launch of AspenBio&#146;s
novel recombinant single-chain bovine products, BoviPure LH&#153; and BoviPure FSH&#153;. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>AspenBio licensed this single-chain
technology from Washington University in St. Louis for use in all animal species. The
technology was developed over the past 15 years by Dr. Irving Boime, a Department of
Developmental Biology professor at Washington University&#146;s School of Medicine. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The license agreement with Novartis
is structured as a collaborative arrangement that provides for a sharing of; product
development activities, development and registration costs and worldwide product sales.
AspenBio receives an upfront cash payment and ongoing royalties based upon net direct
product margins as defined and specified under the agreement. AspenBio has agreed to fund
its share of 35% of the product development and registration costs. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>BoviPure FSH is a novel single chain
follicle stimulating hormone (FSH) analog for cows with many potential advantages over
existing products. BoviPure LH is a novel single-chain luteinizing hormone (LH) analog for
cows. This new bovine LH hormone analog is the first of its type in the world and is
designed to increase pregnancy rates in dairy cows using both pre-breeding and
post-breeding applications. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#147;The execution of this agreement
successfully culminates an important 2008 objective for AspenBio Pharma,&#148; said
Richard Donnelly, AspenBio&#146;s president and CEO. &#147;In addition to securing very
attractive and what we believe to be highly competitive royalty terms, having Novartis as
a partner means these drugs will be launched by an organization with leading market
positions in the most important countries throughout the world. Novartis also has a large
worldwide sales and marketing team with a strong track record of success in launching new
drugs.&#148; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dr.           Boime,
whose team worked to develop the platform technology, commented,           &#147;I
am delighted to see that basic science research conducted here at           Washington
University has generated a therapeutic class of veterinary drugs to           help
improve the success of livestock reproduction.&#148; </FONT></P>

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<P>

<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>About AspenBio Pharma,
Inc.
</B><BR>AspenBio Pharma is an emerging
bio-pharmaceutical company dedicated to the discovery; development, manufacture, and
marketing of novel proprietary products, including those that enhance the reproductive
efficiency of animals and that have large worldwide market potential. The company was
originally formed to produce purified proteins for diagnostic applications and has become
a leading supplier of human hormones to many of the nation&#146;s largest medical
diagnostic companies and research institutions. The company has successfully leveraged
this foundational science and technology expertise to rapidly develop an enviable
late-stage pipeline of several novel reproduction hormone analogs for wide-ranging
therapeutic use in animals of economic importance. AspenBio Pharma continues to advance
the development and testing of its two first-generation blood-based human diagnostic tests
designed to rapidly help diagnose or rule out acute appendicitis in patients complaining
of abdominal pain. For more information, go to <U>www.aspenbiopharma.com.</U> </FONT> </P>


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<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Forward Looking
Statements
</B><BR>This news release includes
&#147;forward looking statements&#148; of AspenBio Pharma, Inc. (&#147;APPY&#148;) as
defined by the Securities and Exchange Commission (the &#147;SEC&#148;). All statements,
other than statements of historical fact, included in the press release that address
activities, events or developments that APPY believes or anticipates will or may occur in
the future are forward-looking statements. These statements are based on certain
assumptions made based on experience, expected future developments and other factors APPY
believes are appropriate in the circumstances. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of APPY.
Investors are cautioned that any such statements are not guarantees of future performance.
Actual results or developments may differ materially from those projected in the
forward-looking statements as a result of many factors, including statements regarding the
ability to successfully complete the development of, obtain FDA approval for, cost
effectively manufacture and generate revenues from the appendicitis test as well as the
animal products under this agreement and other new products, execute agreements required
to successfully advance the company&#146;s objectives, retain the scientific management
team to advance the products, overcome adverse changes in market conditions and the
regulatory environment, fluctuations in sales volumes, obtain and enforce intellectual
property rights, and realization of intangible assets. Furthermore, APPY does not intend
(and is not obligated) to update publicly any forward-looking statements. The contents of
this news release should be considered in conjunction with the warnings and cautionary
statements contained in APPY&#146;s recent filings with the SEC. </FONT> </P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>For more information contact: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>AspenBio Pharma, Inc. </B><BR>Gregory Pusey,
Chairman <BR>Tel 303-722-4008 </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Investor Relations </B><BR>Liolios Group,
Inc. <BR>Scott Liolios or Ron Both <BR>Tel 949-574-3860 </FONT> </P>






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