Sangui Acquisition

Sangui BioTech Inc. said it agreed to acquire a majority of the common stock of Citadel Investment Systems Inc. of Colorado. Terms were not disclosed.

Sangui BioTech said Citadel will be renamed Sangui BioTech Colorado Inc., and common shares will continue to trade under the “CIIS” ticker symbol on the Nasdaq Bulletin Board. Both companies will be based in Santa Ana.

Sangui BioTech makes and markets in vitro immunodiagnostic test kits and, through its units, researches and develops hemoglobin-based blood substitutes and glucose and oxygen sensor products.