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Arlington, VA | Thursday, March 06, 2008

Champions Biotechnology, Inc. Reports Two Cents per Share Earnings for Three Quarters Ended January 31, 2008.

Oct 25 2011 3:43 PM

Champions Biotechnology, Inc. (OTC Bulletin Board: Symbol - CSBR), a development stage biotechnology company, announced today its third quarter financial results. Full details of the Company’s financial results are available in the Company’s Form 10-QSB at www.sec.gov

For the three months ended January 31, 2008 the Company reported net income of $611,006 and earnings per share of $0.02 compared to a net loss of $37,198 and loss of $0.00 per share for the comparable period one year ago. For the nine months ended January 31, 2008, the Company reported net income of $474,011 and earnings per share of $0.02 compared to a net loss of $74,086 and loss of $0.00 per share for the comparable period one year ago. In the nine months period that ended January 31, 2008, the Company began its operations as a biotechnology company while in the nine months ended January 31, 2007, it had no biotechnology operations.

The Company’s total operating revenues were $924,940 for the three months ended January 31, 2008 and $1,174,940 for the nine months ended January 31, 2008. The Company generated revenues for the nine months ended January 31, 2008 providing oncology services. For the three months ended January 31, 2007 and for the nine months ended January 31, 2007 the Company generated no revenues.

For the three months ended January 31, 2008, expenses were $319,998 compared to $37,198 for the comparable period one year ago. For the nine months ended January 31, 2008, expenses were $716,986 compared to $74,086 for the comparable period one year ago. The increased expenses for the three and nine months ended January 31, 2008 represented the Company moving forward in executing its new business plan of building a biotechnology company.

“I am greatly encouraged by the Company’s revenue growth in our first year of operations. This performance helps build a solid foundation for our future as we hope to rise to prominence quickly to become a major biotech player” said James Martell, President and CEO of Champions Biotechnology. “It is quite exceptional for a biotech company to generate revenues and earnings at such an early developmental stage.”

Champions Biotechnology is actively engaged, as stated in the Company’s 10-QSB filing, in pursuit of funding to accelerate the development of the Company’s preclinical platform and drug portfolio, development of a management team, selection and appointment of new members to the Board of Directors and formation of a Scientific Advisory Board. The Company looks forward to reporting updates regarding any material events and corporate changes in the future.

About Champions Oncology, Inc.

Champions Oncology, Inc. (formerly Champions Biotechnology, Inc) is engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs. The Company’s Tumorgraft™ Technology Platform is a novel approach to personalizing cancer care based upon the implantation of primary human tumors in immune deficient mice followed by propagation of the resulting engraftments, or Tumorgrafts™, in a manner that preserves the biological characteristics of the original human tumor. The Company uses this technology in conjunction with related services to offer solutions for two customer groups: Personalized Oncology Solutions (“POS”) in which physicians and patients looking for information help guide the development of personalized treatment plans, and Translational Oncology Solutions (“TOS”) in which pharmaceutical and biotech companies seeking personalized approaches to drug development can lower the cost and increase the speed of developing new drugs and increasing the adoption of existing drugs. The Company’s Tumorgraft™ Technology Platform consists of processes, physical tumors and information that we use to personalize the development and use of oncology drugs. The Company is building its Tumorgraft™ Technology Platform through the procurement, development and characterization of numerous Tumorgrafts™ within each of several cancer types. Tumorgrafts™ are procured through agreements with a number of institutions in the U.S. and overseas as well as through its POS business. The Tumorgrafts™ are developed and tested through agreement with a United States-based preclinical facility.

The Company provides POS to oncologists by establishing and administering expert tumor panels for their patients to analyze medical records and test results, to assist in understanding conventional and experimental options and to identify and arrange for testing, analysis and study of the patients’ cancer tissues, as appropriate. Additionally, the Company offers Personalized Tumorgraft™ development, drug studies and genome sequencing as part of its POS whereby physicians can evaluate the effects of cancer drugs on their patients’ tumorgrafts and understand the genetic make-up of their patient’s tumor enabling them to better select treatment regimens that may be efficacious to the patient

This press release may contain “forward-looking statements” (within the meaning of the Private Securities Litigation Act of 1995) that inherently involve risk and uncertainties. Champions Oncology generally uses words such as “believe,” “may,” “could,” “will,” “intend,” “expect,” “anticipate,” “plan,” and similar expressions to identify forward-looking statements. One should not place undue reliance on these forward-looking statements. The Company’s actual results could differ materially from those anticipated in the forward-looking statements for many unforeseen factors. See Champions Oncology’s Form 10-K for the fiscal year ended April 30, 2011 for a discussion of such risks, uncertainties and other factors. Although the Company believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and Champions Oncology’s future results, levels of activity, performance or achievements may not meet these expectations. The Company does not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Champions Oncology’s expectations, except as required by law.

References:

  1. Hidalgo M et al. Activity of gemcitabine in direct patient derived xenografts predicts clinical outcome: validation of an in vivo model for drug development. J Clin Oncol 27:15s, 2009 (suppl; abstr 4528)
  2. Hidalgo M et al. A Pilot Study of Treatment Guided by Personalized Tumorgrafts in Patients with Advanced Cancer. Mol Cancer Ther August 2011 10:1311-1316
  3. Rubio-Viqueira B, Jimeno A, Cusatis G, et al. An in vivo platform for translational drug development in pancreatic cancer. Clin Cancer Res. 2006;12:4652-4661.
  4. Champions data on file.