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Champions Oncology will be exhibiting (Booth #1037) and presenting 5 posters at the 2012 AACR Annual Meeting

Wed, 28 Mar 2012 15:38:50 GMT

Champions Oncology is pleased to announce that it will be presenting five posters on its Champions TumorGraft™ models and Translational and Personalized Oncology Solutions at the 2012 American Association of Cancer Research (AACR) Annual Meeting on March 31 – April 4 in Chicago, IL. Champions will also be exhibiting at the event at Booth #1037.

The posters can be viewed during the following times during the AACR Annual Meeting. For questions, reprints of the posters, or to arrange a meeting during the event, please contact us.

Poster #	Date	Time	Title
1367	4/2/2012	8am-12pm	Characterization of spontaneous metastases in Champions TumorGraft™ models
5252	4/2/2012	8am-12pm	Utilization of TumorGraft technology for personalized breast cancer treatment
4249	4/3/2012	1pm-5pm	Development of Champions TumorGraft™ models in rare cancer types for oncology drug development
3755	4/3/2012	8am-12pm	Antitumor activity of CEP-32496, a novel orally active BRAFV600E inhibitor, in a panel of Champions TumorGraft models of melanoma and colorectal cancer with B-Raf V600E mutations
1329	4/4/2012	8am-12pm	Personalizing gastrointestinal cancer treatment by the utilization of TumorGraft technology

Champions Oncology Reports Fiscal 2012 Third Quarter Financial Results

Thu, 15 Mar 2012 21:24:41 GMT

Champions Oncology, Inc. (OTC: CSBR) reported the following results:

Fiscal Year 2012 Third Quarter Financial Results:

Operating revenues were $2.4 million and $2.8 million for the three months ended January 31, 2012 and 2011, respectively, and $5.8 million and $5.3 million for the nine months ended January 31, 2012 and 2011, respectively.

Total operating expenses were $4.2 million and $3.6 million for the three months ended January 31, 2012 and 2011, respectively, and $12.2 million and $7.7 million for the nine months ended January 31, 2012 and 2011, respectively.

Champions reported a net loss of $1.7 million , or ($0.04) per share and $0.4 million, or ($0.01) per share for the three months ended January 31, 2012 and 2011, respectively, and $6.1 million, or ($0.13) per share and $1.1 million, or ($0.03) per share for the nine months ended January 31, 2012 and 2011, respectively.

Champions recognized a net loss of $1.0 million, excluding stock based compensation of $0.7 million, or ($0.02) per share and net income of $0.8 million, excluding stock based compensation of $1.2 million, or $0.02 per share for three months ended January 31, 2012 and 2011, respectively, and net losses of $3.5 million, excluding stock based compensation of $2.6 million, or ($0.07) per share and net income of $0.5 million, excluding stock based compensation of $1.6 million, or $0.01 per share for the nine months ended January 31, 2012 and 2011, respectively.

In fiscal 2011, the Company modified its POS business strategy to focus on growing its core technology products, which includes Tumorgraft implants and drug studies. As a result, the Company significantly reduced the price of the core technology products to make the products affordable to a broader patient based. In addition, the Company has increased spending on sales and marketing efforts to support this strategy. The Company will continue to offer related personalized oncology services to our customers, including personalized tumor panels and gene sequencing, however, we expect future POS revenue growth to be driven by our core products.

During fiscal 2012, the Company started transitioning the laboratory activities that support the POS and TOS services to our facility in Baltimore, MD. To facilitate this strategy and support the increase in current and expected volume, we have invested in the infrastructure and increased our laboratory staff and are evaluating options to increase our lab capacity to meet the future demand. We believe that bringing these activities in house will significantly reduce the cost of providing our services and allow us to maintain a more aggressive pricing strategy. We expect the transition to be largely complete by the end of the first quarter of fiscal 2013.

Operating Results:

Revenues from Translational Oncology Services (TOS) were $1.7 million and $1.4 million for the three months ended January 31, 2012 and 2011, respectively, an increase of $0.3 million or 26%. TOS revenues were $3.9 million and $2.5 million for the nine months ended January 31, 2012 and 2011, respectively, an increase of $1.4 million or 56%. These increases in TOS revenues were due primarily to increased sales efforts and investments in growing our Tumorbank.

Cost of TOS was $0.8 million and $0.7 million for the three months ended January 31, 2012 and 2011, respectively, an increase of $0.1 million, or 16%. Cost of TOS was $1.9 million and $1.4 million for the nine months ended January 31, 2012 and 2011, respectively, an increase of $0.5 million, or 36%. The increase in cost of sales was due to increased sales volume of the TOS business.

Revenues from Personalized Oncology Services (POS) were $0.6 million and $1.4 million for the three months ended January 31, 2012 and 2011, respectively, a decrease of $0.8 million, or 54%. POS revenues were $1.8 million and $2.8 million for the nine months ended January 31, 2012 and 2011, respectively, a decrease of $1.0 million, or 35%. Panel revenue, a component of POS revenue, decreased $0.9 million and $1.0 million for the three and nine months ended January 31, 2012, respectively. This decrease is primarily attributable to a decrease in pricing per panel. Excluding panel revenue, POS revenue was $0.59 million and $0.5 million for three months ended January 31, 2012 and 2011, an increase of $0.09 million and $1.35 million and $1.32 million for nine months ended January 31, 2012 and 2011, respectively, an increase of $0.03 million. The Company experienced significantly higher volumes of implants and drug studies compared to the prior year. For the three months ended January 31, 2012, the Company performed 25 tumorgraft implants compared to one in the same quarter last year. For the nine months ended January 31, 2012, the Company performed 70 tumorgraft implants compared to nine in the prior year. For the three months ended January 31, 2012, the Company completed five drug studies compared to zero in the same quarter last year. For the nine months ended January 31, 2012, the Company completed nine drug studies compared to three in the prior year. However, the increase in volume was partially offset by a strategic decision to lower pricing for both the tumorgraft implants and drug studies.

Cost of POS was $0.5 million and $0.7 million for the three months ended January 31, 2012 and 2011, respectively, a decrease of $0.2 million, or 27%. Cost of POS was $1.5 million and $1.2 million for the nine months ended January 31, 2012 and 2011, respectively, an increase of $0.3 million, or 21%. The year to date increase in cost of sales corresponds to increased lab costs associated with increased volumes.

Research and development expense was $0.9 million and $0.4 million for the three months ended January 31, 2012 and 2011, respectively, an increase of $0.5 million. Research and development expense was $2.6 million and $2.1 million for the nine months ended January 31, 2012 and 2011, respectively, an increase of $0.5 million, or 21%. The increases from prior year periods are primarily related to increased costs resulting from our continued investment in our Tumorbank and technology platform.

Sales and marketing expense was $0.6 million and $0.2 million for the three months ended January 31, 2012 and 2011, respectively, an increase of $0.4 million. Sales and marketing expense was $1.9 million and $0.4 million for the nine months ended January 31, 2012 and 2011, respectively, an increase of $1.5 million. The increases from prior year periods are primarily related to our continued investment in the infrastructure in POS, increases in our sales force, and increases in marketing costs.

General and administrative expense was $1.3 million and $1.5 million for the three months ended January 31, 2012 and 2011, respectively, a decrease of $0.2 million, or 15%. Stock-based compensation was $0.7 million and $1.2 million for the three months ended January 31, 2012 and 2011, respectively. Excluding stock-based compensation, general and administrative expenses were $0.5 million and $0.3 million for the three months ended January 31, 2012 and 2011, an increase of $0.2 million. General and administrative expense was $4.4 million and $2.6 million for the nine months ended January 31, 2012 and 2011, respectively, an increase of $1.8 million, or 67%. Stock-based compensation was $2.6 million and $1.6 million for the nine months ended January 31, 2012 and 2011, respectively. Excluding stock-based compensation, general and administrative expenses were $1.8 million and $1.0 million for the nine months ended January 31, 2012 and 2011, respectively, an increase of $0.8 million. The increases from the prior periods are related to the expansion of our infrastructure, the addition of our corporate offices in New Jersey, and other costs associated with the Company’s growth strategy.

For the third quarter of fiscal 2012, the Company reported a net loss of $1.7 million, or ($0.04) per share, compared to a net loss of $0.4 million, or ($0.01) per share, in the corresponding quarter of fiscal 2011. In addition to the factors described above, the Company’s net losses reflect non-cash expenses, i.e., share-based compensation and depreciation, of $0.8 million or ($0.02) per share, in the third quarter of 2012 compared to $1.2 million, or ($0.03) per share, in the third quarter of 2011.

The Company’s cash position on January 31, 2012 was $6.5 million.

* Non-GAAP Financial Information

See the attached Reconciliation of GAAP Net Loss to Non-GAAP Net Loss for an explanation of the amounts excluded to arrive at non-GAAP net loss and related non-GAAP loss per share amounts for the fiscal second quarter ended, 2012 and 2011, respectively. Non-GAAP financial measures provide investors and management with supplemental measures of operating performance and trends that facilitate comparisons between periods before and after certain items that would not otherwise be apparent on a GAAP basis. Certain unusual or non-recurring items that management does not believe affect the Company’s basic operations do not meet the GAAP definition of unusual or non-recurring items. Non-GAAP net loss and non-GAAP loss per share are not, and should not be viewed as a substitute for similar GAAP items. We define non-GAAP diluted loss per share amounts as non-GAAP net loss divided by the weighted average number of diluted shares outstanding. Our definition of non-GAAP net loss and non-GAAP diluted loss per share may differ from similarly named measures used by others.

Full details of the Company’s financial results will be available in the Company’s Form 10-Q at www.championsoncology.com.

Champions Oncology, Inc. Appoints Executive Vice President and Chief Financial Officer to Management Team and Corporate Office Relocation

Tue, 22 Nov 2011 02:16:59 GMT

Company Hires Gary G. Gemignani as Executive Vice President and Chief Financial Officer

Champions Oncology, Inc. (“Champions” or the “Company”) (OTC Bulletin Board: CSBR) , a company engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs, has appointed Gary G. Gemignani to the Company’s management team, as Executive Vice President and Chief Financial Officer. Joel Ackerman, the Company’s Chief Executive Officer, served as interim Chief Financial Officer, until Mr. Gemignani’s appointment. Mr. Ackerman commented “We are pleased to add an executive with Gary’s background and vast experiences as we continue to build our management team.”

Most recently, Mr. Gemignani served as Executive Vice President, Chief Operating Officer and Chief Financial Officer of Coronado Biosciences, a company focused on novel immunotherapy agents for cancer and inflammatory diseases. From June 2005 through March 2010, Mr. Gemignani served as Executive Vice President, Chief Operating Officer and Chief Financial Officer for Gentium S.p.A., a biotechnology company focused on developing products to address complications of cancer therapy. Prior to that Mr. Gemignani held management positions of increasing responsibility at Wyeth, Novartis and Prudential Financial. Mr. Gemignani received a Bachelor’s Degree in Accounting from St. Peter’s College.

Additionally, Champions announces the relocation of its corporate office from Baltimore, MD to Hackensack, NJ.

Champions Biotechnology Reports Fiscal 2011 Third Quarter Financial Results

Tue, 25 Oct 2011 22:12:46 GMT

Champions Biotechnology, Inc. (OTC: CSBR), today announced its operating results for its third fiscal quarter ended January 31, 2011.

Fiscal 2011 Third Quarter Financial Highlights

Total operating revenue of $2,805,000 representing an increase of 278% compared to the third quarter of 2010
Net loss of ($415,000); Net income excluding stock based compensation of $796,000*
Net loss of ($0.02) per share; Net income excluding stock-based compensation of $0.02 per diluted share*
Cash and Cash Equivalents of $2,941,000

Fiscal 2011 Third Quarter Financial Results.

Total revenues for the third quarter of fiscal 2011 were $2,805,000 compared to $742,000 in the third quarter of fiscal 2010, an increase of $2,063,000, or 278%. Revenues from Personalized Oncology Solutions, or POS, were $1,419,000 compared to $325,000 in the corresponding quarter of the prior year, an increase of $1,094,000, or 337%. The increase is primarily due to the increased volume of POS business during the quarter. Revenues from Translational Oncology Solutions, or TOS, previously referred to as Preclinical eValuation services, were $1,386,000 for the quarter compared to $417,000 in the corresponding quarter of the prior year, an increase of $969,000, or 232%. The increase is primarily due to the increased volume of TOS business during the quarter.

Costs of POS for the three months ended January 31, 2011 and 2010 were $751,000 and $162,000, respectively, an increase of $589,000, or 364%. The increase in costs was due to the increased volume of POS business. For the three months ended January 31, 2011 and 2010, gross margins for POS was 47% and 50%, respectively. The decrease in gross margin was attributable to the reduction in POS fees that the Company has instituted to increase affordability of the services being offered.

Costs of TOS for the three months ended January 31, 2011 and 2010 were $584,000 and $202,000, respectively, an increase of $382,000, or 189%. For the three months ended January 31, 2011 and 2010, gross margins for TOS was 58% and 52%, respectively. The increase in gross margin is a reflection of the efficiencies achieved as the business continues to grow.

Research and Development

Research and development, or R&D, expenses for the three months ended January 31, 2011 and 2010 were $400,000 and $566,000, respectively, a decrease of $166,000, or 29%. The decrease in R&D expenses in 2011 was primarily due to the recognition of $130,000 in licensing fees and costs associated with the Bithionol agreement in 2010, which were not incurred during 2011.

General and Administrative

General and administrative, or G&A, expenses for the three months ended January 31, 2011 and 2010 were $1,856,000 and $595,000, respectively, an increase of $1,261,000, or 212%. The increase was primarily due to the $1,135,000 stock-based compensation expense related to stock options issued to our Chief Executive Officer and President.

Interest and Other Income, Net

Interest and other income for the three months ended January 31, 2011 was $371,000, which primarily relates to grant income earned under the Qualifying Therapeutic Discovery Project program administered under Section 48D of the Internal Revenue Code based on the percentage of qualifying expenses incurred through the nine months ended January 31, 2011 compared to the total expected expenses to be incurred for fiscal year 2011.

Cash and Cash Equivalents

The Company’s cash position on January 31, 2011 was $2,941,000 compared to $2,572,000 on April 30, 2010.

For the nine-month period ended January 31, 2011, revenues were $5,338,000 compared to $2,993,000 for the comparable period last year, an increase of $2,345,000, or 78%. Total operating expenses, which include costs of POS and TOS, R&D and G&A were $7,742,000 compared to $5,369,000 for the comparable period last year, an increase of $2,373,000, or 44%. Interest and other income for the nine months ended January 31, 2011 was $1,344,000. The Company reported a net loss of $1,060,000, or ($0.03) per share, as compared to a net loss of $2,371,000, or ($0.07) per share, for the comparable period in fiscal 2010.

Joel Ackerman, the Company’s Chief Executive Officer, commented, “The financial growth we achieved this quarter is a clear indication of the need for personalized oncology products for both physicians and medical technology companies. The foundation that was built over the last three years, combined with the sales resources we are adding, is beginning to result in an increased momentum for our Company.”

* Non-GAAP Financial Information

See the attached Reconciliation of GAAP Net Loss to Non-GAAP Net Income (Loss) for an explanation of the amounts excluded to arrive at non-GAAP net income (loss) and related non-GAAP earnings (loss) per share amounts for the three months ended January 31, 2011 and 2010, respectively. Non-GAAP financial measures provide investors and management with supplemental measures of operating performance and trends that facilitate comparisons between periods before and after certain items that would not otherwise be apparent on a GAAP basis. Certain unusual or non-recurring items that management does not believe affect the Company’s basic operations do not meet the GAAP definition of unusual or non-recurring items. Non-GAAP net income (loss) and non-GAAP earnings (loss) per share are not, and should not be viewed as a substitute for similar GAAP items. We define non-GAAP diluted earnings per share amounts as non-GAAP net income divided by the weighted average number of diluted shares outstanding. Our definition of non-GAAP net income (loss) and non-GAAP diluted earnings (loss) per share may differ from similarly named measures used by others.

Champions Biotechnology Reports Fiscal 2011 First Quarter Financial Results

Tue, 25 Oct 2011 20:38:16 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, today announced its financial results for the fiscal 2011 first quarter ended July 31, 2010. Full details of the Company’s financial results will be available in the Company’s Form 10-Q at www.championsbiotechnology.com.

Total revenues for the first quarter of fiscal 2011 were $1.6 million compared to $962,000 in the first quarter of fiscal 2010, an increase of 66%. Revenues from Personalized Oncology were $1.1 million compared to $899,000 in the corresponding quarter of the prior year, an increase of 23%. Revenues from Preclinical eValuation were $491,000 for the quarter compared to $63,000 in the corresponding quarter of the prior year, an increase of 679%. The increase in Preclinical eValuation was a result of the Company beginning to recognize revenues in its second full year of providing Preclinical services. Cost of Personalized Oncology services for the first quarter of 2011 was $324,000 which resulted in a gross margin of 71% as compared to 29% in the corresponding 2010 fiscal quarter. The increase in gross margin was due to a greater mix of higher-margin business. Cost of Preclinical eValuation services for the first quarter of fiscal 2011 was $222,000 which resulted in a gross margin of 55% as compared to 46% in the corresponding 2010 fiscal quarter. The increase in gross margin in 2011 resulted from increased pricing efficiencies realized in the Company’s second full year of operations.

Research and development (“R&D”) expenses for the first quarter of fiscal 2011 were $919,000 as compared to $496,000 in the first quarter of fiscal 2010. The increase in R&D expenses in 2011 was mainly due to costs associated with the development and testing of the Company’s four drug compounds and the acquisition of Tumorgrafts as the Company continues to expand its tumorgraft platform. General and administrative expenses for first quarter of fiscal 2011 were $738,000 as compared to $806,000 in fiscal 2010. The decrease was primarily attributable to the Company’s consolidation of its operations to Baltimore, Maryland.

For the first quarter of fiscal 2011, the Company reported a net loss of $591,000, or ($0.02) per share, compared to a net loss of $1.0 million, or ($0.03) per share, in the corresponding quarter of fiscal 2010. In addition to the factors described above, the Company’s net losses reflect non-cash expenses, i.e., share-based compensation and depreciation, of $180,000 or ($0.01) per share, in the first quarter of 2011 compared to $58,000, or ($0.00) per share, in the first quarter of 2010. The Company’s cash position on July 31, 2010 was $2.1 million compared to $2.6 million on April 30, 2010.

First Quarter Highlights:

Experienced an increase in top-line revenues of 66% with overall gross margins increasing from 31% to 66%, year-over-year;
Experienced year-over-year top-line revenue growth of 679% in the Preclinical eValuation business;
Continued to expand its Biomerk Tumorgraft platform to approximately 350 tumorgrafts which are available and/or in development at July 31, 2010, representing all of the major solid tumor indications;
Hired a Preclinical Sales Director to oversee direct sales of Preclinical eValuation services; and
Began to offer genome sequencing as part of its Personalized Oncology services.

David Sidransky, M.D., Chairman of the Board of Champions Biotechnology, Inc., noted, “The 2011 first quarter results are positive. As we move into 2011, we continue to see strong results from both Preclinical eValuation and Personalized Oncology. In addition, with the hiring of our Preclinical Sales Director in August 2010, we are positioned to reach out to more pharmaceutical companies that can utilize our Preclinical eValuation platform.”

Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results

Tue, 25 Oct 2011 20:37:57 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, today announced its financial results for the second fiscal quarter ended October 31, 2009. Full details of Company’s financial results are available in the Company’s Form 10-Q at www.championsbiotechnology.com.

Total revenues for the second quarter of 2010 were $1,289,000 as compared to $1,044,000 in fiscal 2009, an increase of 23%. The overall increase was derived from the Company’s Preclinical eValuation business which generated revenues of $700,000 for the second fiscal quarter of 2010 compared to $180,000 for the corresponding quarter a year ago, an increase of 289%. Revenues from Personalized Oncology Services for the second fiscal quarter of 2010 were $589,000 as compared to $864,000 in fiscal 2009, a decrease of 32%. The overall reduction resulted from a decrease in panel revenues during the quarter partially offset by increases in Personalized Tumorgraft implantations and associated drug studies as well as vaccine studies as the Company focused on growing this more strategic area of the Personalized Oncology business.

Costs of Preclinical eValuation services for the second fiscal quarter of 2010 totaled $350,000 as compared to $90,000 in fiscal 2009. The cost of Preclinical eValuation expenses increased proportionally with the additional revenues which were generated in the quarter.

Costs of Personalized Oncology Services for the second quarter totalled ($13,000) as compared to $369,000 in fiscal 2009. This reduction is due to the decrease in Personalized Oncology panel services year over year. In addition, during the quarter the Company recognized a one-time $125,000 credit and change in estimate for accrued costs of a personalized oncology study agreement.

Research and development (“R&D”) expenses for the second quarter of fiscal 2010 were $645,000 as compared to $417,000 in the comparable quarter of fiscal 2009, an increase of 55%. This increase is primarily due to licensing fees and costs of $208,000 in connection with licensing our second oncology drug, TAR-1.

General and administrative expenses for the second fiscal quarter of 2010 were $891,000 as compared to $354,000 in the comparable quarter of 2008. This increase is primarily due to our development of corporate infrastructure to support our effort to grow our Preclinical eValuation Services and includes increased payroll, legal, accounting, marketing, and office rent expenses.

For the second quarter ended October 31, 2009 the Company reported a net loss of $584,000 or ($0.02) per share compared to a net loss of $161,000 or $0.00 per share for the corresponding quarter in fiscal 2009.

The Company’s cash position on October 31, 2009 was $394,000 compared to $1,728,000 at April 30, 2009.

For the six-month period ended October 31, 2009, revenues were $2,251,000 compared to $1,717,000 for the comparable period last year, an increase of 31%. Total operating expenses which include research and development and general and administrative, were $2,838,000 compared to $1,337,000 for the comparable period last year, an increase of 112% and the Company reported a net loss of

$1,587,000 or $0.05 per share, as compared to a net loss of $292,000 or $0.01 per share for the comparable period in fiscal 2009.

Doug Burkett, Ph.D. President of Champions Biotechnology, Inc. commented. “This past quarter we saw continued revenue growth and exceptional progress in our primary objective to in-license a pipeline of high potential oncology drugs. The Company continued to make progress during the quarter on the following fronts.”

The Company’s quarterly top line revenues increased 23% year over year.
Champions entered into an exclusive licensing agreement with Ramot of Tel Aviv University for TAR-1, a therapeutic for the treatment of cancer.
Champions entered into an exclusive licensing agreement with Yale University and Southern Research Institute for the repurposing of Bithionol for Oncology.
The Company began Tumorgraft testing of its oncology drug, SG410.
Champions entered into a collaboration agreement with Ortho Biotech Oncology Research & Development for the evaluation of a preclinical oncology therapeutic.
The United States Patent and Trademark Office issued a patent in September for the Company’s tubulin inhibitors, including its oncology compound SG410.

Champions Oncology Reports Fiscal 2012 First Quarter Financial Results

Tue, 25 Oct 2011 20:37:50 GMT

Champions Oncology, Inc. formerly Champions Biotechnology, Inc. (OTC: CSBR) reported the following results:

Fiscal Year 2012 First Quarter Financial Results:

Total operating revenues for the first quarter of fiscal 2012 were $1.63 million compared to $1.60 million in the first quarter of fiscal 2011. Total operating expenses for the first quarter of fiscal 2012 were $3.85 million compared to $2.20 million in the first quarter of fiscal 2011. Champions reported a net loss of $2.04 million, or ($0.04) per share, compared to a net loss of $0.59 million, or ($0.02) per share, in the corresponding prior year quarter. Champions recognized a net loss of $1.03 million excluding stock based compensation* of $1.01 million, or ($0.02) per share for the first quarter of fiscal 2012 compared to a net loss of $0.42 million excluding stock based compensation* of $0.17 million, or ($0.01) per share for the first quarter of fiscal 2011.

Services Revenues

Revenues from Translational Oncology Solutions (TOS) were $1.03 million for the quarter compared to $0.49 million in the corresponding quarter of the prior year, an increase of 110%. The increase in TOS revenues was driven by an increase in the number of contracts over the prior period, resulting from the company’s increased sales efforts.

Cost of TOS services for the first quarter of fiscal 2012 was $0.42 million which resulted in a gross margin of 59% as compared to 55% in the corresponding 2011 fiscal quarter.

Revenues from Personalized Oncology Solutions (POS) were $0.60 million compared to $1.11 million in the corresponding prior year quarter. This decrease was the result of the company’s strategic decision to re-engineer its products to facilitate lower price points which are expected to result in higher volumes.

During the quarter, the company did generate significantly higher volumes but these were not yet sufficient to overcome the impact of the price decreases. These decreases were partially offset by an increase in sequencing revenue over the prior year first quarter.

Cost of POS for the first quarter of 2012 was $0.48 million which resulted in a gross margin of 20% as compared to 71% in the corresponding 2011 fiscal quarter. The decrease in gross margin can be attributed to declines in pricing.

Research and development (“R&D”) expenses for the first quarter of fiscal 2012 were $0.54 million as compared to $0.92 million in the first quarter of fiscal 2011. The decrease from 2011 to 2012 was primarily related to lower spending on our technology platform and tumorgraft testing on the in-licensed compounds.

Sales and marketing expenses for first quarter of fiscal 2012 were $0.69 million as compared to $0.13 million in the first quarter of fiscal 2011. The increase is primarily related to the increase in Company sales force personnel and increased marketing and promotional expenses.

General and administrative expenses for first quarter of fiscal 2012 were $1.72 million as compared to $0.60 million in the first quarter of fiscal 2011. The increase is primarily related to the increase in Company personnel due to growth and stock-based compensation.

For the first quarter of fiscal 2012, the Company reported a net loss of $2.04 million, or ($0.04) per share, compared to a net loss of $0.59 million, or ($0.02) per share, in the corresponding quarter of fiscal 2011. In addition to the factors described above, the Company’s net losses reflect non-cash expenses, i.e., share-based compensation and depreciation, of $1.04 million or ($0.02) per share, in the first quarter of 2012 compared to $0.18 million, or ($0.01) per share, in the first quarter of 2011.

The Company’s cash position on July 31, 2011 was $8.84 million.

* Non-GAAP Financial Information

See the attached Reconciliation of GAAP Net Loss to Non-GAAP Net Loss for an explanation of the amounts excluded to arrive at non-GAAP net loss and related non-GAAP loss per share amounts for the fiscal first quarter ended, 2012 and 2011, respectively. Non-GAAP financial measures provide investors and management with supplemental measures of operating performance and trends that facilitate comparisons between periods before and after certain items that would not otherwise be apparent on a GAAP basis. Certain unusual or non-recurring items that management does not believe affect the Company’s basic operations do not meet the GAAP definition of unusual or non-recurring items. Non-GAAP net loss and non-GAAP loss per share are not, and should not be viewed as a substitute for similar GAAP items. We define non-GAAP diluted loss per share amounts as non-GAAP net loss divided by the weighted average number of diluted shares outstanding. Our definition of non-GAAP net loss and non-GAAP diluted loss per share may differ from similarly named measures used by others.

Champions Biotechnology Reports Fiscal 2010 Third Quarter Financial Results

Tue, 25 Oct 2011 20:37:21 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, today announced its financial results for the third fiscal quarter ended January 31, 2010. Full details of Company’s financial results are available in the Company’s Form 10-Q at www.championsbiotechnology.com.

Total revenues for the third quarter of 2010 were $742,000 as compared to $984,000 in fiscal 2009, a decrease of $242,000. Revenues from Preclinical eValuation were $417,000 for the 2010 quarter compared to $83,000 in the corresponding quarter in 2009, an increase of $334,000. This increase is due to growth in both the number of studies being completed and customers entering into contracts for the Company’s preclinical eValuation services. This increase was offset by a decrease in the Company’s Personalized Oncology Services revenues which generated revenues of $325,000 in the 2010 third quarter compared to $901,000 in the corresponding quarter a year ago, a decrease of $576,000. Although we believe that the results of this business were somewhat effected by the severe winter we are seeing positive trends in our Personalized Oncology business going into the final quarter of our fiscal year.

Costs of Personalized Oncology Services for the third quarter of 2010 totalled $162,000 as compared to $464,000 in fiscal 2009, a decrease of 65%. This reduction is due to the decrease in Personalized Oncology services provided year- over- year. Gross margins for the 2010 and 2009 fiscal third quarters were 50% and 49%, respectively.

Costs of Preclinical eValuation services for the three months ended January 31, 2010 and 2009 were $202,000 and $206,000, respectively, a decrease of $4,000 or 2%. Gross margins for the 2010 and 2009 fiscal third quarters were 51% and (148%), respectively. During the third quarter of 2009, the Company realized negative gross margin on preclinical eValuation service revenues primarily due to a contractually negotiated reduction in payments and additional testing with one of the Company’s customers.

Research and development (“R&D”) expenses for the third quarter of fiscal 2010 were $566,000 as compared to $435,000 in the comparable quarter of fiscal 2009, an increase of 30%. This increase is primarily due to licensing fees and costs of $130,000 incurred in connection with licensing our third oncology drug candidate Bithionol.

General and administrative expenses for the third quarter of 2010 were $596,000 as compared to $463,000 in the comparable quarter of 2009, an increase of 29%. This increase is primarily due to the development of our corporate infrastructure to support our effort to grow our Preclinical eValuation services and includes increased salaries and bonuses, legal, accounting, marketing, and office rent expenses.

For the third quarter ended January 31, 2010, the Company reported a net loss of $784,000 or $0.02 per share compared to a net loss of $563,000 or $0.02 per share for the corresponding quarter in 2009.

The Company’s cash position on January 31, 2010 was $1,479,000 compared to $1,728,000 at April 30, 2009.

Recently the Company commenced a private offering to “Accredited Investors” as defined in section 2(15) of the Securities Act. The Company is seeking to raise up to $10.0 million dollars through the private placement of unregistered shares of its common stock. During the third quarter of 2010 the Company received gross proceeds of $2,100,000 from the private placement of 2,800,000 shares of the Company’s unregistered stock.

For the nine-month period ended January 31, 2010, revenues were $2,993,000 compared to $2,701,000 for the comparable period last year, an increase of 11%. Total operating expenses which include research and development and general and administrative, were $4,000,000 compared to $2,235,000 for the comparable period last year, an increase of 79% and the Company reported a net loss of $2,371,000 or $0.07 per share, as compared to a net loss of $855,000 or $0.03 per share for the comparable period in fiscal 2009.

Dr. David Sidransky, Chairman of the Board of Directors of Champions Biotechnology, Inc., commented, “This past quarter, although we saw reduced revenues from our Personalized Oncology business, we continued to see solid performance from our Preclinical eValuation business. Having made strong progress in building the integrity of our platform for the Preclinical eValuation business, we can now more fully implement our primary objective to in-license a pipeline of high potential oncology drugs and compounds. The Company progress to date is evidenced by the following:

The Company’s quarterly Preclinical eValuation revenues increased 402% year over year.
Champions entered into an exclusive Option Agreement with a leading Canadian research organization to review a cancer drug candidate. This brings our total number of products owned, licensed or under option agreements to four.
Champion’s Preclinical eValuation business expanded and initiated new contracts with several major Biotechnology and Pharmaceutical companies.
Champions has received signed subscription agreements totaling $3.0 million to date of which $2.2 million has been received in our private placement to accredited investors.”

For more information regarding Champions Biotechnology’s business and recent news, please visit www.championsbiotechnology.com. To learn more about Personalized Cancer Treatment please visit www.personalizedcancertreatment.com.

Champions Biotechnology Enters into Licensing Agreement with Yale University and Southern Research Institute for the Repurposing of Bithionol for Oncology

Tue, 25 Oct 2011 20:37:08 GMT

Champions Continues to Build its Tumorgraft™ Driven Oncology Pipeline

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), an oncology drug development company with a predictive preclinical platform aimed at accelerating the development and enhancing the value of oncology drugs, has established an exclusive licensing agreement with Yale University and Southern Research Institute for the development of Bithionol for cancer treatment. Scientists from Yale and Southern Research found that Bithionol, a drug available for helminthic infections, shows activity against solid cancerous tumors and has the potential to treat melanoma, prostate, breast and lung cancer, among other cancers.

Their research found that Bithionol is an Autotaxin inhibitor that is expected to be useful in treating various types of cancer. By inhibiting Autotaxin (ATX), a prometastatic enzyme, Bithionol inhibits myriad of biological activities, including angiogenesis and the promotion of cell growth, survival, and differentiation. ATX increases the aggressiveness and invasiveness of transformed cells, and ATX levels directly correlate with tumor stage and grade in several human malignancies.

Under the terms of the agreement, Champions will have exclusive rights and be responsible for the further development of Bithionol for all oncology indications. Yale and Southern Research will receive an upfront payment and will be eligible to receive milestone payments and royalties. Additionally, the parties have agreed upon certain terms favorable to developing world markets.

Champions will use its predictive Biomerk Tumorgraft™ platform to assess the efficacy of the compound—alone and in combination with other compounds—to determine its optimal application and enable efficient clinical development. Upon successful results, Champions will move the compound forward into human clinical trials. “The benefits of our predictive Tumorgraft™ evaluation are further enhanced by the fact that Biothionol is already available for a different indication. We therefore expect an accelerated regulatory path to proof of clinical concept,” said Guy Malchi, head of corporate development for Champions.

This is the third compound to be in-licensed into Champions’ rapidly growing pipeline of oncology compounds. Recently, Champions announced the licensing of TAR-1, a single-chain antibody fragment, from Ramot at Tel Aviv University.

“We are excited to work with Champions’ experienced scientific team to translate these promising early findings towards a meaningful clinical program by leveraging Champions’ preclinical platform,” said Demetrios Braddock, M.D., Ph.D., Associate Professor of Pathology in Yale School of Medicine and the Yale inventor of the licensed technology.

“It is gratifying to see the work of Southern Research and Yale scientists being channeled in this way, and to hopefully lead to the development of another new drug for cancer patients,” said Nancy M. Gray,

Ph.D., vice president of Corporate Development for Southern Research Institute. “This licensing opportunity with the Champions team fits quite well within Southern Research’s own mission of conducting basic and translational research that ultimately leads to the approval of a new drug.”

The work was funded, in part, by the Yale Clinical and Translational Science Award (CTSA) grant from the National Center for Research Resources at the National Institutes of Health.

Champions Biotechnology, Inc. is engaged in the development of advanced preclinical platforms and tumor specific data to enhance and accelerate the value of oncology drugs. The Company’s Preclinical Platform is a novel approach based upon the implantation of primary human tumors in immune deficient mice followed by propagation of the resulting engraftments (Biomerk Tumorgrafts™) in a manner that preserves the biological characteristics of the original human tumor. Early studies suggest that unlike traditional xenografts, these Tumorgrafts closely reflect human cancer biology and their response to drugs is predictive of clinical outcomes in cancer patients. Champions Biotechnology leverages its preclinical platform to evaluate drug candidates and to develop a portfolio of novel therapeutic candidates. As drugs progress through early stage development, the Company plans to sell, partner or license them to pharmaceutical and/or biotechnology companies, as appropriate. The Company also offers its predictive preclinical platform and tumor specific data to physicians for personalized patient care and to companies for evaluation of oncology drugs in models that integrate prognostic testing with biomarker discovery. For more information regarding Champions Biotechnology’s growing business and recent news, please visit www.championsbiotechnology.com or www.personalizedcancertreatment.com.

About Yale University

Founded in 1701, Yale University comprises three major academic components: Yale College (the undergraduate program), the Graduate School of Arts and Sciences, and the professional schools. In addition, Yale encompasses a wide array of centers and programs, libraries, museums, and administrative support offices. Approximately 11,250 students attend Yale. Founded in 1810, Yale School of Medicine is a world-renowned center for biomedical research, education and advanced healthcare. Among its 27 departments are one of the nation’s oldest schools of public health and the internationally recognized Child Study Center, founded in 1911. Yale School of Medicine consistently ranks among the handful of leading recipients of research funding from the National Institutes of Health and other organizations supporting the biomedical sciences. Its core faculty of more than 1,100 physicians and scientists is well represented within the Institute of Medicine and National Academy of Sciences and among investigators of the Howard Hughes Medical Institute.

About Southern Research

Southern Research Institute is a nonprofit 501(c) 3 scientific research organization that conducts preclinical drug discovery and development, and advanced engineering research in materials, systems development, environment and energy. Our more than 550 scientific and engineering team members support clients and partners in the pharmaceutical, biotechnology, defense, aerospace, environmental and energy industries. Southern Research is headquartered in Birmingham, Ala., with facilities in Wilsonville, Ala., Anniston, Ala., Frederick, Md., and Durham, NC and offices in New Orleans, La., Washington, DC and Kiev, Ukraine. For more information about Southern Research and its capabilities and accomplishments, visit www.SouthernResearch.org.

Champions Biotechnology to Present Data at AACR-EORTC 2009 Regarding the Predictability of Biomerk Tumorgraft™ Platform to Guide Personalized Cancer Treatment and Accelerate Oncology Drug Development

Tue, 25 Oct 2011 20:36:58 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), an oncology drug development company with a predictive preclinical platform aimed at accelerating the development and enhancing the value of oncology drugs, has announced that two of its studies regarding its application in oncology drug development and personalized medicine have been selected for a poster and oral presentation at the upcoming AACR-EORTC conference in Boston.

A poster will be presented by Dr. Elizabeth Bruckheimer, Champions’ Vice President for Scientific Operations, which will detail the Biomerk Tumorgraft™ platform and its characterization. Together the results demonstrate that by maintaining the fundamental genotypic features of the original tumor along with the stromal and cancer stem cell components, the Biomerk Tumorgraft enables identification of the most promising development path for a compound in terms of indication, drug combination, and target patient populations. The platform also has the potential to identify gene pathways of response and resistance as well as prognostic molecular biomarkers. The banking and characterization efforts are performed in collaboration with South Texas Accelerated Research Therapeutics (START).

“The predictive power of the Biomerk Tumorgraft platform is very exciting,” said Dr. Bruckheimer. “Application of our models to translational drug development is demonstrating great promise in streamlining the development path of our biotech and pharma partners by giving them a more focused, accelerated and higher probability translational path in clinical trials. Additionally, we are using our platform to build our own oncology pipeline which we expect to yield improved clinical development success rates. We believe that this platform will continue to change the way in which oncology drugs are developed, and oncology patients are treated.”

In collaboration, Dr. Manuel Hidalgo, Professor of Oncology at the Universidad CEU San Pablo, Director of the Centro Integral Oncologia “Clara Campal” and Director of the Clinical Research Program at CNIO all in Madrid, Spain and Champions’ Chief Scientist will present data regarding prolonged clinical responses from Tumorgraft recommended treatments in patients with refractory advanced cancer, and the ability of the Tumorgraft platform to discover novel predictive biomarkers. He will show the correlation between Tumorgraft response in mice and clinical activity in patients, demonstrating a perfect correlation of sensitivity and response.

Data Presentations:

From Mice to Men: Guiding Cancer Treatment through Personalized Tumorgraft™ Models Results in Prolonged Clinical Responses in Patients with Refractory Advanced Cancers and Discovery of Novel Predictive Biomarkers will be presented on Tuesday November 17^th from 4:30 – 5:30 PM during the Proffered Paper Session.

Establishment and Characterization of Primary Human Biomerk Tumorgraft Models: Application to Oncology Drug Development will be presented on Monday November 16^th from 12:30 – 2:30 PM and 5:30 – 7:30 PM during the poster session (Abstract #A25).

For more information regarding Champions Biotechnology’s growing business and recent news, please visit www.championsbiotechnology.com.

Champions Biotechnology, Inc. Signs Exclusive Licensing Agreement with Ramot for TAR-1, a Novel Therapeutic for the Treatment of Cancer

Tue, 25 Oct 2011 20:36:49 GMT

Champions Biotechnology Building Tumorgraft-Driven Oncology Drug Pipeline

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), an oncology drug development company with a predictive preclinical platform aimed at accelerating the development and enhancing the value of oncology drugs, has established an exclusive licensing agreement with Ramot at Tel Aviv University Ltd., Tel Aviv University’s wholly owned technology transfer company. The licensing agreement encompasses the development and commercialization of TAR-1, a single-chain antibody fragment in preclinical development that may have an advantage in treating cancer patients because of its high specificity and affinity to binding mutant p53 protein.

Under the terms of the agreement, Champions has obtained the worldwide rights to TAR-1 and is responsible for the further development of the compound. Champions will utilize its Biomerk Tumorgraft™ platform technology to evaluate the activity of TAR-1 and determine the best path forward for the compound in regards to indication, patient population and potential drug combinations. Ramot will receive an upfront payment and will be eligible to receive milestone payments and royalties if Champions chooses to continue the license terms, which will be determined based on results from testing TAR-1 in the predictive Tumorgraft platform.

Prof. Beka Solomon from Tel Aviv University identified that TAR-1 binds to and restores the wild-type active conformation of mutant p53 protein with a high degree of specificity, leading to in vivo inhibition of tumor growth. Given the frequency of mutant p53 in cancer, TAR-1 has the potential to target a wide range of human cancers.

“Licensing TAR-1 demonstrates the progression of our strategy to build our own Tumorgraft-driven pipeline of oncology drugs, which we expect to yield improved clinical development success rates,” said Guy Malchi, Champions Biotechnology’s Head of Corporate Development and International Operations. “We were impressed by the potential of TAR-1 and we are planning to continue to in-license oncology drug candidates with compelling science and to develop only those with positive Tumorgraft results.” TAR-1 will undergo Tumorgraft testing as Champions completes Tumorgraft testing of its other oncology drug, SG410, a tubulin inhibitor.

“We are excited to work with Champions Biotechnology. Their predictive platform and experienced scientific and clinical team make them an ideal candidate to move TAR-1 forward into the clinic and on the path to commercialization,” said Dr. Ze'ev Weinfeld, CEO, Ramot at Tel Aviv University Ltd.

Champions Biotechnology Expands Collaboration to Test Oncology Therapeutic in Biomerk Tumorgrafts™

Tue, 25 Oct 2011 20:36:38 GMT

October 26, 2009 - Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company with a predictive preclinical platform aimed at accelerating the development and enhancing the value of oncology drugs, has established an agreement with Ortho Biotech Oncology Research & Development, a Division of Janssen Pharmaceutica NV, for the evaluation of a novel preclinical oncology therapeutic in Champions’ Biomerk Tumorgraft™ platform.

“We are excited to expand this ongoing collaboration in the development of innovative therapeutics in oncology,” said Doug Burkett, Ph.D., President of Champions Biotechnology, Inc. “We continue to grow our customer base and revenues within our Preclinical eValuation business. Our Biomerk Tumorgraft models offer a more predictive preclinical platform to enhance and accelerate oncology drug development. Evaluations in our Tumorgraft models are expected to enable the identification of the most promising development path by focusing on indication, drug combinations, target patient populations and biomarker discovery.”

U.S. Patent Issues for Champions Biotechnology’s Lead Oncology Drug

Tue, 25 Oct 2011 20:36:29 GMT

Champions Biotechnology, Inc.(OTC Bulletin Board: CSBR), a drug development company with a preclinical platform able to predict clinical effectiveness, accelerate development and enhance the value of oncology drugs, today announced that the United States Patent and Trademark Office issued a patent on September 29, 2009 for the company’s tubulin inhibitors, including its lead compound SG410. U.S. Patent No. 7,595,326 entitled “Synthesis of Novel Tubulin Polymerization Inhibitors: Benzoylphenylurea (BPU) Sulfur Analogs” protects the Company’s composition of matter, pharmaceutical composition, and method of treatment for SG410. The patent is owned by Champions Biotechnology.

“This patent solidifies Champions’ intellectual property position on SG410. We believe that SG410, in the new Neowater formulation we developed, has the potential to significantly impact the treatment of cancer,” said Doug Burkett, Ph.D., President of Champions Biotechnology, Inc. “SG410 is Champions’ first internal compound and is currently undergoing Biomerk Tumorgraft™ evaluation. The results of SG410 tests in our predictive platform are expected to be available soon. We are also actively evaluating high potential compounds to build our oncology drug pipeline and expect to in-license additional drugs in the near future. Studies suggest that evaluations of compounds through Biomerk Tumorgrafts will lead to more successful and efficient clinical development.”

For more information regarding Champions Biotechnology’s growing business and recent news, please visit www.championsbiotechnology.com.

About SG410

SG410 is an antimitotic inhibitor that was shown in Tumorgraft models to target microtubule associated protein tau (MAPT) deficient tumors with promising results as compared to a currently marketed and leading chemotherapeutic drug. These antimitotic inhibitors target MAPT (Microtubule-Associated Protein Tau) deficient tumors. In both in vitro and in vivo models, SG410 has demonstrated promising activity against prostate and pancreatic cancer.

Champions Biotechnology Reports Fiscal 2010 First Quarter Financial Results

Tue, 25 Oct 2011 20:35:54 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, today announced its financial results for the first quarter ended July 31, 2009. Full details of the Company’s financial results are available in the Company’s Form 10-Q at www.championsbiotechnology.com.

Total revenues for the first quarter of 2010 were $962,000 as compared to $673,000 in the first quarter of 2009, an increase of 43%. This increase was derived from the Company’s Personalized Oncology business, which generated revenues of $899,000 for the first quarter of 2010 compared to $616,000 in the comparable quarter of last year. This increase consisted of increases in Personalized Oncology Tumorgraft studies and vaccines, partially offset by a decrease in revenues from physician panels. Preclinical eValuation revenues for three months ended July 31, 2009, and 2008 were $63,000 and $57,000, respectively.

Costs of Personalized Oncology services for the first quarter of 2010 was $634,000 as compared to $226,000 in the first quarter of 2009, an increase of 181%. The cost of Personalized Oncology services increased due to an increase in the number of Tumorgraft studies, which have higher expenses (lower gross margins) than revenues derived from our physician panels. In addition, the Company recognized the costs of a vaccine development study which required additional up front expenses. Cost of Preclinical eValuation services for the three months ended July 31, 2009, and 2008 were $34,000 and $34,000, respectively.

Research and Development expenses for the first quarter of 2010 was $496,000 as compared to $231,000 in the comparable quarter of 2009, an increase of 115%. The increase in research and development resulted from the Company’s continued efforts to build its Tumorgraft platform and development costs associated with securing the Company’s future drug pipeline candidates.

General and Administrative expenses for the first quarter of 2010 was $806,000 as compared to $334,000 in the comparable quarter of 2009, an increase of 141%. The increase is primarily due to the continued investment in our corporate infrastructure to support our overall growth and expansion into Israel and the United Kingdom.

For the first quarter ended July 31, 2009, the Company reported a net loss of $1,003,000 or ($0.03) per share compared to a net loss of $131,000 or $0.00 per share in the comparable quarter in 2009.

The Company’s cash and cash equivalents on July 31, 2009 was $1,530,000 compared to $2,745,000 at April 30, 2009.

Doug Burkett, Ph.D., President of Champions Biotechnology, Inc., commented, “this past quarter we saw continued improvement in the Company’s revenue growth and we continued to build our Tumorgraft platform.” In addition, the Company continued to make progress during the quarter on the following fronts:

The Company saw quarterly top line revenues increase 43% year over year.
Promising discussions with numerous companies for additional service contracts in the Preclinical eValuation business yielded another large new customer early in the second quarter.
The Company advanced its due-diligence and negotiations to in-license promising oncology compounds by leveraging its Tumorgraft platform to select the most promising candidates.
Champions established a collaboration agreement with Do-Coop, an Israel based biotech firm to develop a more soluble form of its SG410 oncology drug candidate. The soluble form was developed by Do-Coop which enables SG410 to advance to Tumorgraft testing.
The Company conducted its first Personalized Oncology Panel™ in Israel and built infrastructure to grow the business there.
The Company launched its Personalizedcancertreatment.com website that provides information and access to the Company’s personalized treatment program.

Furthermore, as previously announced, since the end of the July 31, 2009 quarter, the Company entered into a major collaboration agreement with PinnacleCare, the world’s leading private health advisory. This partnership will enable Champions to educate many more physicians regarding the Company’s services and assist many more individuals with cutting edge research to personalize their cancer treatment.

For more information regarding Champions Biotechnology’s business and recent news, please visit www.championsbiotechnology.com. To learn more about personalized cancer treatment, please visit www.personalizedcancertreatment.com.

Champions Biotechnology and PinnacleCare Enter Into Personalized Oncology Collaboration Agreement

Tue, 25 Oct 2011 20:35:47 GMT

PinnacleCare To Offer Champions’ Personalized Oncology Services To Members Worldwide

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company whose personalized oncology services division assists physicians by providing personalized treatment options for their cancer patients, has entered into a collaboration agreement with PinnacleCare, the pioneer and the leading private health advisory company in the world.

PinnacleCare will offer Champions’ personalized oncology services to its members worldwide who have been diagnosed with cancer. Access to Champions’ services will benefit PinnacleCare members, and their physicians, in evaluating personalized options to improve treatment outcomes. Champions’ services offered to PinnacleCare members will include:

Personalized Oncology Panels™ comprised of world-renowned experts assembled to assist the client’s physician in determining the optimal treatment, and
Personalized Tumorgrafts™ developed from fragments of the client’s living tumor that are surgically removed, propagated and tested to evaluate the effectiveness of potential treatment drugs.

Through this collaboration, Champions will also offer PinnacleCare’s health advisory services to Champions clients. These services include:

A PinnacleCare health advisor available globally and 24/7 answering client questions, coordinating healthcare schedules, explaining options, arranging treatments, assisting with individual medical experts, staff, and bureaucracies, and available to attend important appointments, and
PinnacleCare Electronic Health Records including collection, organization, and physician review of client medical records, with all records kept up-to-date and available instantly anywhere in the world for the client and his/her expert healthcare team.

“Champions Personalized Oncology Panels and its Personalized Tumorgraft technology are exactly the kind of cutting edge programs that PinnacleCare seeks for its members,” PinnacleCare Chief Medical Officer, Dr Miles Varn, said. “We believe that the Champions approach to personalized oncology will be of great benefit to our current and prospective members through programs that evaluate treatment options based on the very unique characteristics of each patient’s cancer.”

“PinnacleCare and Champions personalized oncology services complement each other like hand and glove,” said Doug Burkett, Ph.D., President of Champions Biotechnology, Inc. “This collaboration will enable us to educate many more physicians regarding our services and assist many more individuals with cutting edge research to personalize their cancer treatment. It will also enhance the individualized services for our clients and provide instant access to state-of-the-art electronic healthcare records for them and their expert healthcare team. We look forward to working closely with PinnacleCare in this high potential collaboration.”

About PinnacleCare

PinnacleCare is the world’s leading private health advisory company, providing its members with teams of dedicated advisors to manage family and executive health care, access world-renowned specialists, provide access to the world’s most advanced medical research, coordinate appointments, collect and maintain medical records with PinnacleCare’s Electronic Health Records solution and help members enact proven preventive strategies for optimum longevity and health. PinnacleCare serves 3,000 members worldwide and has offices throughout the United States and London. For more information, visit www.PinnacleCare.com.

Champions Biotechnology to Present at Rodman & Renshaw’s Eleventh Annual Healthcare Conference

Tue, 25 Oct 2011 20:35:24 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, will present at Rodman & Renshaw’s Eleventh Annual Healthcare Conference taking place September 9 - 11, 2009, at the New York Palace Hotel. The company’s Chairman of the Board, Dr. David Sidransky will present on Thursday, September 10, 2009, 2:50pm EDT in the Hubbard Salon (5^th floor). Additional information regarding the conference can be found at http://rodm.com/conferences?id=30.

Expected to welcome 3,500 guests and include presentations by over five hundred companies, the conference will be attended by investors, venture capitalists, company executives, medical experts, scientists, and other industry leaders. To access a live audio webcast or the subsequent archived recording, log on to http://www.wsw.com/webcast/rrshq15/csbr.ob. Please connect to the website several minutes prior to the start of the live webcast to ensure adequate time for any software download that may be necessary.

Champions Biotechnology to Deploy its Technology to Guide Development of Oncology Therapeutic for Global Biotech Leader

Tue, 25 Oct 2011 20:35:09 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, has established yet another agreement with a large biotechnology company for the evaluation of a novel oncology therapeutic in Champions’ Biomerk Tumorgraft™ platform. By maintaining the fundamental genotypic features of the original human tumor along with the stromal components, the Biomerk Tumorgraft preclinical platform enables identification of the most promising development path for a compound in terms of indication, drug combination, and target patient population. The platform also has the potential to identify gene pathways of response and resistance as well as prognostic molecular biomarkers.

“We are excited to continue the growth of our impressive client base and begin working with one of the most respected global leaders in the discovery and development of novel therapies,” said Doug Burkett, Ph.D., President of Champions Biotechnology, Inc. “Studies suggest that evaluation of oncology compounds through our Biomerk Tumorgraft platform will lead to more successful and efficient clinical development. The value-added by an optimally targeted, more efficient clinical path can result in cost savings, improved clinical and commercial success and significantly more years of patent life following commercialization.”

Champions Biotechnology Reports Fiscal 2009 Full-Year Financial Results

Tue, 25 Oct 2011 20:34:57 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, today announced its financial results for the fiscal year ended April 30, 2009. Full details of the Company’s financial results are available in the Company’s Form 10-K available at www.championsbiotechnology.com.

For the fiscal year ended April 30, 2009 the company’s operating revenues were $3,710,000 as compared to $1,400,000 for the fiscal year ended April 30, 2008. The Company generated $3,278,000 in revenues in FY 2009 from its Personalized Oncology business, which assists physicians by providing services that may enhance personalized treatment options for their cancer patients, and its Preclinical eValuation business generated $432,000, which assists drug development companies in the preclinical evaluation and development of their drug candidates.

Personalized Oncology expenses for the fiscal 2009 year were $1,623,000 compared to $490,000 in fiscal 2008. The increase was due to the overall growth in the Personalized Oncology business during the year. Preclinical eValuation expenses ended the year at $357,000 compared to zero in fiscal 2008, as fiscal 2009 was the first year that the Company generated revenues and expenses in this business.

Research and Development expenses ended fiscal 2009 at $1,721,000 compared to $200,000 in fiscal 2008. The increase in Research and Development expenses was mainly attributable to the Company’s Tumorgraft expansion program that included the acquisition, propagation, storage and characterization of tumors. Additional Research and Development investments were made in Drug Development which includes the salaries, consulting and legal fees incurred in the identification and securing of the Company’s future drug pipeline candidates.

General and Administrative expenses totaled $2,055,000 in fiscal 2009 compared to $1,150,000 in fiscal 2008. The overall increase related mainly to the growth of the business and the continued growth of the management team and corporate infrastructure to meet the requirements of a growing public company.

For the year ended April 30, 2009 the Company reported a net loss of $2,242,000 or ($0.07) per share compared to a net loss of $411,000 or ($0.01) per share in fiscal 2008. Non cash expenses i.e., share based compensation and an impairment charge related to intangible assets totaled $752,000 ($0.02) per share in fiscal 2009 compared to $617,000 or ($0.02) in fiscal 2008.

The Company’s cash and short term investments position on April 30, 2009 was $2,745,000 compared to $3,709,000 a year earlier on April 30, 2008.

Doug Burkett, Ph.D., President of Champions Biotechnology, Inc. commented, “This year we saw a dramatic increase in our revenues as we gained traction with our Personalized Oncology services and began to recognize revenues in our Preclinical eValuation business. Additionally, expenses increased as we invested in current and future growth. Investments increased to fulfill the demands of our growing customer base, to grow our Tumorgraft platform and to identify oncology drug candidates to in-license. Our base business continued to generate growing revenue to support the value drivers for our company, which remain the development of our drug pipeline and portfolio of royalty agreements on oncology drugs.”

Dr. Burkett continued, “The progress made in our second full year of operations has been very promising. As we move into fiscal 2010, we will continue to work to develop a strong drug candidate pipeline by leveraging the predictive capability of our growing Tumorgraft platform.”

Fiscal 2009 Highlights:

The Company saw top line revenues increase 165% with growth from its Personalized Oncology and Preclinical eValuation businesses.
Experienced positive increases in contract signing and saw deferred revenues end the 2009 fiscal year at $1.2 million compared to $0.5 million in the prior year.
Continued to build out its Tumorgraft platform with nearly 200 Tumorgrafts available and/or in development at April 30, 2009 representing all the major solid tumor indications.
Champions’ Preclinical eValuation services business was launched and completed contracts with large pharmaceutical companies to evaluate their drug candidates. The business delivered its first drug development project to a major top tier Biotech and has several other studies nearing completion.
The Company began its effort to build an oncology drug pipeline and completed its first royalty agreement on an oncology drug candidate with Concordia Pharmaceuticals.
Champions established a collaboration with Do-Coop, an Israel based biotech firm to develop a more soluble form of its SG410 drug candidate, which allowed Champions to move forward into Biomerk Tumorgraft™ testing.
The Company entered into a collaboration with Gradalis and Mary Crowley Cancer Research Center to develop personalized cancer vaccines for cancer patients.
The Company launched its Personal Oncology website www.personalizedcancertreatment.com and established a UK subsidiary, Champions Biotechnology, UK Ltd. and an Israel branch.

Champions Biotechnology Partners with Do-Coop Technologies to Advance Its Novel Oncology Compound Into Biomerk Tumorgraft™ Testing

Tue, 25 Oct 2011 20:34:49 GMT

Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, has established a collaboration with Do-Coop Technologies Ltd. of Israel for development of a more soluble form of SG410, its Benzoylphenylurea (BPU) sulfur analog compound. SG410, an in-licensed compound, is the first agent in Champions’ drug development pipeline. Using Neowater®, a novel proprietary water-based nanotechnology, Do-Coop has been able to improve the solubility and activity of SG410.

SG410 is an antimiotic inhibitor that was shown in Biomerk Tumorgraft models to target microtubule associated protein tau (MAPT) deficient tumors with promising results as compared to a currently marketed and leading chemotherapeutic drug. These antimitotic inhibitors target MAPT (Microtubule-Associated Protein Tau) deficient tumors. In both in vitro and in vivo models, SG410 has demonstrated promising activity against prostate and pancreatic cancer.

“We are excited to work with this innovative technology that enables us to move SG410 into Biomerk Tumorgraft testing and determine its optimal clinical application,” said Doug Burkett, Ph.D., President of Champions Biotechnology, Inc. “We expect to have early Biomerk Tumorgraft results for SG410 by the end of 2009. Also, following nearly a year of efforts to build our oncology drug pipeline we expect to in-license additional drugs in the near future; SG410 is anticipated to be the first of many in-licensed compounds to enter Biomerk Tumorgraft evaluation. Our Biomerk Tumorgraft technology enables identification of the most promising development path for the compound in terms of indication, drug combination, and target patient populations. Studies suggest that evaluations of compounds through Biomerk Tumorgrafts will lead to more efficient and successful clinical development.”

Under the terms of the agreement, Do-Coop will receive development milestones and royalties based upon the clinical success of the compound. “We are delighted to work with Champions and its groundbreaking Biomerk Tumorgraft platform,” said Eran Gabbai, President and CTO of Do-Coop. “This technology should change the way in which cancer drugs are developed.”

Champions Biotechnology, Inc. Launches Personalized Cancer Treatment.com

Tue, 25 Oct 2011 20:34:39 GMT

Website Features Exclusive Personalized Cancer Treatment Options For Cancer Patients And Healthcare Professionals

(OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, has launched the website PersonalizedCancerTreatment.com. The website provides information and access to the company’s unparalleled personalized treatment options for physicians and their patients, including: Champions Biotechnology, Inc.

Personalized Tumorgraft™

A Personalized Tumorgraft is a sample of the patient’s living tumor that is grown and tested in Champions’ facilities. This novel approach optimizes treatment choices through simultaneous evaluation of the effectiveness of numerous anti-cancer drugs, sparing the patient from undergoing therapy that may not be optimal for that specific cancer. Champions also maintains the patient’s living Tumorgraft to allow for future studies, if needed, for the patient and his/her family.

Personalized Vaccine™

A therapeutic cancer vaccine may be developed from the patient’s tumor to provide the most personalized cancer treatment available. Tumor cells from the Personalized Tumorgraft are genetically modified, then used to stimulate a patient’s immune system to recognize and, if possible, attack the patient’s cancer cells.

Personalized Oncology Panel™

Champions’ provides the cancer patient and treating physician with access to the world’s top cancer experts, convening exclusive panels of renowned experts, selected based on a patient’s specific cancer type and condition, from each of the disciplines critical to the patient’s case. In a round table forum, the expert panel debates the broad array of options and provides a consensus treatment recommendation to the patient’s physician.

The website also includes a selection of case presentations in the Healthcare Professional section that demonstrate the positive clinical results achieved by physicians whose cancer patients have chosen to use Champions’ services.

“With the launch of our new website, Champions empowers Web users to explore, learn, and expand their understanding of breakthrough cancer treatments, making available today the personalized oncology options of tomorrow,” said Doug Burkett, PhD, President of Champions Biotechnology, Inc. “We are providing patients and physicians with real-time access to cutting edge medicine, including valuable insight into the most promising new cancer treatments, genetic tests, novel therapeutics, landmark research, and more.”

Dr. Burkett continued, “Champions offers a more precise approach to cancer treatment, because every patient’s cancer is unique. In partnership with one’s physician, Champions optimizes a given treatment plan’s potential for success and maximizes the patient’s most precious resource: time. We anticipate the launch of PersonalizedCancerTreatment.com will bring our exceptional spectrum of personalized cancer treatment options to a broader audience than ever before.”

To learn more about Personalized Cancer Treatment please visit www.personalizedcancertreatment.com.

For more news and information on Champions Biotechnology, Inc., please visit www.IRGnews.com/coi/CSBR where you can find the CEO’s video, a fact sheet on the company, investor presentations, and more.