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Baltimore, MD | Friday, April 01, 2011

Champions Biotechnology Exercises Option to License Proprietary Compound Based on Successful Tumorgraft™ Test Results

Aug 30 2011 1:40 PM

Champions Biotechnology, Inc. (OTC: CSBR) (“Champions” or “the Company”) announced today that it has exercised an option to license Irinophore C™, a liposomal formulation of Irinotecan, from the BC Cancer Agency (“BCCA”) in British Columbia, Canada. This action was the result of the positive results obtained from a TumorgraftTM study done on Irinophore C™ utilizing Champions’ proprietary technology platform.

Irinophore C™ is a lipid-based nanoparticle made by efficiently loading the irinotecan payload into its interior core using a novel and proprietary method. The compound is currently completing preclinical development and is due to enter phase I clinical study as a single agent in patients having advanced solid tumors in Q4 2011. Champions tested the activity of Irinophore C™ using its TumorgraftTM translational technology platform. The results demonstrated significant efficacy and safety advantages in Irinophore C™ as compared to the approved drug Irinotecan (Camptosar) on various tumor types.

In February 2010, Champions entered into an exclusive option agreement with BCCA for the exclusive right to review Irinophore C™ for the treatment of various forms of solid tumor cancer. The exercise of the option will result in immediate costs to the Company of approximately $85,000 comprised of the option exercise price and reimbursement to BCCA for past patent costs. Champions is currently exploring strategic options for financing the clinical development costs of Irinophore C™.

The Company also announced that it will not pursue further any of the three compounds for which it signed licensing agreements. The Company’s scientific advisory committee has reviewed the results of the TumorgraftTM studies performed on each of these compounds and recommended that the Company stop investing resources in the development of these compounds. Additionally, Champions announced that it will not pursue the licensing of additional compounds. The Company plans to focus its research and development resources on the development of the TumorgraftTM technology platform. The Company will continue to expand its Translational Oncology Solutions business which has been gaining increased acceptance and commercial success.

About the BC Cancer Agency

The BC Cancer Agency, an agency of the Provincial Health Services Authority, is committed to reducing the incidence of cancer, reducing the mortality from cancer, and improving the quality of life of those living with cancer. It provides a comprehensive cancer control program for the people of British Columbia by working with community partners to deliver a range of oncology services, including prevention, early detection, diagnosis and treatment, research, education, supportive care, rehabilitation and palliative care. Visit www.bccancer.ca for more information. The BC Cancer Foundation (www.bccancerfoundation.com) raises funds to support research and enhancements to patient care at the BC Cancer Agency.

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. MolCancer 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.