UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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): JANUARY 25, 2007

                                HEMOBIOTECH, INC.
--------------------------------------------------------------------------------
               (Exact Name of Company as Specified in Its Charter)

                                    DELAWARE
--------------------------------------------------------------------------------
                 (State or Other Jurisdiction of Incorporation)

                   000-51334                       33-0995817
--------------------------------------------------------------------------------
           (Commission File Number)     (IRS Employer Identification No.)

               5001 SPRING VALLEY ROAD
                  SUITE 1040 - WEST
                     DALLAS, TX                            75244
--------------------------------------------------------------------------------
      (Address of Principal Executive Offices)           (Zip Code)

                                 (972) 455-8950
--------------------------------------------------------------------------------
                (Company's Telephone Number, Including Area Code)

                14221 DALLAS PARKWAY SUITE 1400 DALLAS, TX 75254
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

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):

|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

|_| Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))

--------------------------------------------------------------------------------

<PAGE>


ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On January 25, 2007,  Hemobiotech,  Inc., a Delaware  corporation and Texas Tech
University Health Sciences Center  ("TTUHSC")  entered into a Stage IV Sponsored
Research  Agreement,  effective  as of  January  1, 2007  (the  "STAGE IV SRA"),
pursuant to which the Company paid TTUHSC $779,647.

Under the terms of the STAGE IV SRA,  TTUHSC  agreed to assist  the  Company  in
continuing to develop HemoTech(TM) as a potential viable human blood substitute.
HemoTech(TM) is a novel blood  substitute  that is based on chemically  modified
hemoglobin  (which is the key protein in red blood cells that carries oxygen) of
bovine  origin.   The  Company  licensed  the  exclusive   worldwide  rights  to
HemoTech(TM)  from TTUHSC under a separate  license  agreement dated January 22,
2002.  The STAGE IV SRA is an extension of a Sponsored  Research  Agreement with
TTUHSC entered into on July 18, 2002.

Under the terms of the STAGE IV SRA,  TTUHSC  agreed to continue  assisting  the
Company in connection with:

o maintaining  the animal  facility  which houses a controlled  herd of Hereford
cows needed for the production of HemoTech(TM);

o assisting in the implementation of FDA  recommendations  received at a meeting
with the FDA in April 2006 in  contemplation  of filing an  Investigational  New
Drug application;

o manufacturing of HemoTech(TM)  according to the patented process  developed at
TTUHSC; and

o  further  research  and  development  with  a  focus  on  additional  uses  of
HemoTech(TM) and expanded patent protection.

On January 31, 2007, the Company issued a press release announcing its execution
of the STAGE IV SRA. A copy of such press release is included as Exhibit 99.1 to
this Current Report on Form 8-K and is incorporated by reference in its entirety
into this Item 1.01.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(c)       Exhibits.

99.1      Press Release of Hemobiotech, Inc., dated January 31, 2007.




<PAGE>


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                    HEMOBIOTECH, INC.

Dated: January 31, 2007             By: /s/ Mark J. Rosenblum

                                    Name: Mark J. Rosenblum
                                    Title: Chief Financial Officer and Secretary




<PAGE>


 EXHIBIT INDEX

 Exhibit No.    Description
 -----------    -----------

 99.1           Press Release of Hemobiotech, Inc., dated January 31, 2007.
[{"type": "8-K", "sequence": "1", "filename": "f8-k_1312007.txt", "secsgml_size_bytes": 5124}]
{"company-data": {"conformed-name": "HEMOBIOTECH, INC.", "cik": "0001301348", "assigned-sic": "2836", "irs-number": "330995817"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51334", "film-number": "07569346"}, "business-address": {"street1": "5001 SPRING VALLEY ROAD", "street2": "SUITE 1040 - WEST", "city": "DALLAS", "state": "TX", "zip": "75244", "phone": "972-455-8950"}, "mail-address": {"street1": "5001 SPRING VALLEY ROAD", "street2": "SUITE 1040 - WEST", "city": "DALLAS", "state": "TX", "zip": "75244"}, "former-company": {"former-conformed-name": "HEMOBIOTECH INC", "date-changed": "20040824"}}
UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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): JANUARY 25, 2007

                                HEMOBIOTECH, INC.
--------------------------------------------------------------------------------
               (Exact Name of Company as Specified in Its Charter)

                                    DELAWARE
--------------------------------------------------------------------------------
                 (State or Other Jurisdiction of Incorporation)

                   000-51334                       33-0995817
--------------------------------------------------------------------------------
           (Commission File Number)     (IRS Employer Identification No.)

               5001 SPRING VALLEY ROAD
                  SUITE 1040 - WEST
                     DALLAS, TX                            75244
--------------------------------------------------------------------------------
      (Address of Principal Executive Offices)           (Zip Code)

                                 (972) 455-8950
--------------------------------------------------------------------------------
                (Company's Telephone Number, Including Area Code)

                14221 DALLAS PARKWAY SUITE 1400 DALLAS, TX 75254
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

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):

|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

|_| Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))

--------------------------------------------------------------------------------
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On January 25, 2007,  Hemobiotech,  Inc., a Delaware  corporation and Texas Tech
University Health Sciences Center  ("TTUHSC")  entered into a Stage IV Sponsored
Research  Agreement,  effective  as of  January  1, 2007  (the  "STAGE IV SRA"),
pursuant to which the Company paid TTUHSC $779,647.

Under the terms of the STAGE IV SRA,  TTUHSC  agreed to assist  the  Company  in
continuing to develop HemoTech(TM) as a potential viable human blood substitute.
HemoTech(TM) is a novel blood  substitute  that is based on chemically  modified
hemoglobin  (which is the key protein in red blood cells that carries oxygen) of
bovine  origin.   The  Company  licensed  the  exclusive   worldwide  rights  to
HemoTech(TM)  from TTUHSC under a separate  license  agreement dated January 22,
2002.  The STAGE IV SRA is an extension of a Sponsored  Research  Agreement with
TTUHSC entered into on July 18, 2002.

Under the terms of the STAGE IV SRA,  TTUHSC  agreed to continue  assisting  the
Company in connection with:

o maintaining  the animal  facility  which houses a controlled  herd of Hereford
cows needed for the production of HemoTech(TM);

o assisting in the implementation of FDA  recommendations  received at a meeting
with the FDA in April 2006 in  contemplation  of filing an  Investigational  New
Drug application;

o manufacturing of HemoTech(TM)  according to the patented process  developed at
TTUHSC; and

o  further  research  and  development  with  a  focus  on  additional  uses  of
HemoTech(TM) and expanded patent protection.

On January 31, 2007, the Company issued a press release announcing its execution
of the STAGE IV SRA. A copy of such press release is included as Exhibit 99.1 to
this Current Report on Form 8-K and is incorporated by reference in its entirety
into this Item 1.01.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(c)       Exhibits.

99.1      Press Release of Hemobiotech, Inc., dated January 31, 2007.
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                    HEMOBIOTECH, INC.

Dated: January 31, 2007             By: /s/ Mark J. Rosenblum

                                    Name: Mark J. Rosenblum
                                    Title: Chief Financial Officer and Secretary
EXHIBIT INDEX

 Exhibit No.    Description
 -----------    -----------

 99.1           Press Release of Hemobiotech, Inc., dated January 31, 2007.