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<SEC-DOCUMENT>0001297077-08-000085.txt : 20080730
<SEC-HEADER>0001297077-08-000085.hdr.sgml : 20080730
<ACCEPTANCE-DATETIME>20080730140324
ACCESSION NUMBER:		0001297077-08-000085
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080730
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080730
DATE AS OF CHANGE:		20080730

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHAMPIONS BIOTECHNOLOGY, INC.
		CENTRAL INDEX KEY:			0000771856
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				521401755
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17263
		FILM NUMBER:		08978395

	BUSINESS ADDRESS:	
		STREET 1:		2200 WILSON BLVD
		STREET 2:		SUITE 102-316
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22201
		BUSINESS PHONE:		703-526-0400

	MAIL ADDRESS:	
		STREET 1:		2200 WILSON BLVD.
		STREET 2:		SUITE 102-316
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHAMPIONS SPORTS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL GROUP INC
		DATE OF NAME CHANGE:	19860319
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>cbi8k073008-2.htm
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<title>UNITED STATES</title>
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<b>UNITED STATES</b></p align="center">
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<b>SECURITIES AND EXCHANGE COMMISSION</b></p align="center">
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<font size="2"><b>Washington, D.C. 20549</b></font></p align="center">
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<b>FORM 8-K</b></p align="center">
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&nbsp;</td>
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<b>CURRENT REPORT</b></p align="center">
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<font size="2"><b>Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</b></font></p align="center">
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&nbsp;</td>
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<font size="2">Date of Report (Date of earliest event reported)</font></p align="center">
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<font size="2">July 30, 2008</font></p align="center">
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&nbsp;</td>
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<b>CHAMPIONS BIOTECHNOLOGY, INC.</b></p align="center">
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<p align="center">
<font size="2">(Exact name of registrant as specified in its charter)</font></p align="center">
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<font size="2">Delaware</font></p align="center">
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<p align="center">
<font size="2">0-17263</font></p align="center">
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<font size="2">52-1401755</font></p align="center">
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<font size="2">(State of other jurisdiction</font></p align="center">
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<font size="2">(Commission</font></p align="center">
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<font size="2">(IRS Employer</font></p align="center">
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<font size="2">of incorporation)</font></p align="center">
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<font size="2">File Number)</font></p align="center">
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<font size="2">Identification No.)</font></p align="center">
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<font size="2">1400 North 14<sup>th</sup> Street</font></p align="center">
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<td width="119.999970" colspan="1" rowspan="1" >
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<font size="2">Arlington, VA</font></p align="center">
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<font size="2">22209</font></p align="center">
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<font size="2">(Address of principal executive offices)</font></p align="center">
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<font size="2">(Zip Code)</font></p align="center">
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</p align="center">
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<font size="2">Registrant&#8217;s telephone number, including area code: (410) 630-1313</font></p align="center">
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<font size="2">(Former name or former address, if changed since last report.)</font></p align="center">
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<p>
<br><font size="2">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):</font><br><br><font size="2">[&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font><br><font size="2">[&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font><br><font size="2">[&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font><br><font size="2">[&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font><br><br><br></p align="center">
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<font size="2">1</font></p>
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<br><a name="part_1_2_1"></a><a name="item_1_41_1"></a><font size="2"><b>Item&nbsp;2.02    &nbsp;Results of Operations and Financial Condition. </b></font><br><br><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;30, 2008, Champions Biotechnology, Inc.  (&#8220;Company&#8221;) issued a press </font><a name="jump_exp_1"></a><font size="2">release announcing its financial results for the fiscal year ended April 30, 2008. The text of the press release is furnished herewith as Exhibit 99.1. </font><br><br><a name="jump_exp_2"></a><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibit 99.1 is furnished and shall not be deemed to be &#8220;filed&#8221; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that section, nor shall such exhibit be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, exce
pt as expressly set forth by specific reference in such a filing. </font><br><br><font size="2"><b>Item 9.01. Financial Statements and Exhibits</b></font><br><br><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)    &nbsp;Exhibits</font><br><br><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1&nbsp;Press release </font><a name="part_1_2_3"></a><font size="2">July 30, 2008</font><br></p align="center">
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<font size="2"><b>SIGNATURES</b></font></p align="center">
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<br><br><font size="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font><br></p>
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<font size="2">Date: July 30, 2008</font></p>
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<font size="2">CHAMPIONS BIOTECHNOLOGY, INC.</font></p>
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<p>
<font size="2">&nbsp;</font></p>
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<p>
<font size="2">&nbsp;</font></p>
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<td width="50.666654" colspan="1" rowspan="1" >
<p>
<font size="2">By:</font></p>
</td>
<td width="210.666614" colspan="1" rowspan="1" >
<p>
<font size="2"><u>/s/&nbsp;&nbsp;Douglas D. Burkett</u></font></p>
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<font size="2">&nbsp;</font></p>
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<td width="50.666654" colspan="1" rowspan="1" >
<p>
<font size="2">&nbsp;&nbsp;</font></p>
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<td width="210.666614" colspan="1" rowspan="1" >
<p>
<font size="2">    &nbsp;Douglas D. Burkett</font></p>
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<font size="2">&nbsp;</font></p>
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<td width="50.666654" colspan="1" rowspan="1" >
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<font size="2">&nbsp;&nbsp;</font></p>
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<td width="210.666614" colspan="1" rowspan="1" >
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<font size="2">    &nbsp;President</font></p>
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<br><br></p align="center">
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<a name="doc_1_2"></a><font size="2">2</font></p>
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<br></p>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>cbi8k073008-ex99_1.htm
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<title>Champions Biotechnology, Inc</title>
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Exhibit 99.1</p align="right">
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<br></p>
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<p style="border-bottom:solid windowtext .5pt">
<font face="Arial" size="5"><b>Champions Biotechnology, Inc.</b></font></p>
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<font face="Arial" size="5"><b>NEWS</b></font></p>
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<font face="Arial" size="2">1400 North 14<sup>th</sup> Street, Arlington, Virginia 22209 USA. Tel. 410-630-1313</font></p align="center">
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<br><font face="Arial" size="2">For Immediate Release </font><br></p align="center">
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<font face="Arial" size="2"><b>Champions Biotechnology Reports Fiscal 2008 Full-Year Financial Results</b></font></p align="center">
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<font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arlington, VA, July 30, 2008 -- 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, 2008.  Full details of the Company&#8217;s financial results are available in the Company&#8217;s Form 10-KSB available at </font><a name="_DV_M4"></a><font face="Arial" size="2" color="#0000ff">www.championsbiotechnology.com</font><font face="Arial" size="2">.</font><br><br><a name="_DV_M5"></a><a name="_DV_M6"></a><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the fiscal year ended April 30, 2008 the Company&#8217;s operating revenue was $1,399,940 as compared to $0.00 for the fiscal year ended April 30, 2007.  The Company commenced its operations in the biotechnology business in January 2007 and as a result only had 
four months of meaningful operations in the fiscal year ended April 30, 2007.  The Company generated its revenue in FY 2008 from its Personalized Oncology services which assists physicians by providing information that may enhance personalized treatment options for their cancer patients.    </font><br><br><a name="_DV_M7"></a><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the fiscal year ended April 30, 2008 general and administrative expenses of $703,176 were incurred compared to $170,058 in FY 2007.  The increase was due to the additional expenses associated with beginning operations as a biotechnology company.  The Company spent $199,743 on research and development in FY 2008 to grow its Biomerk Tumorgraft&#8482; preclinical platform as compared to $0.00 in the prior year period.  </font><br><br><a name="_DV_M8"></a><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the year ended April 30, 2008 the Company reported net income of $35,698 and earnings per s
hare of $0.00 compared to a net loss of $170,058 and loss of $0.01 per share for the comparable period one year ago.</font><br><br><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#8217;s cash position on April 30, 2008 was $3,709,136 compared to $3,758 on April 30, 2007.  In FY 2008, the net cash provided by operating activities was $792,404. In FY 2007, the net cash used in operating activities was $78,475.  The Company&#8217;s working capital as of April 30, 2008 was $2,748,141 contrasted to a negative $441,065 on April 30, 2007.  In FY 2008 the Company received proceeds of $2,500,000 from a private investment financing.</font><br><br><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders&#8217; equity on April 30, 2008 was $3,637,515 compared to a negative $261,065 on April 30, 2007.</font><br><br><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of the diligence the Company&#8217;s new management performed in pr
eparing the Form 10-KSB for the fiscal year ended April 30, 2008, the Company reclassified certain revenue in the amount of $300,000 which it had previously recorded in the third fiscal quarter and moved it to the fourth fiscal quarter.  This change had no impact on the annual results for the year ended April 30, 2008, as reflected in the Company&#8217;s Annual Report.</font><br><br><br></p align="center">
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<font size="2">1</font></p>
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<br><br><a name="_DV_M9"></a><font face="Arial" size="2">FY 2008 Highlights:  </font><br><ul>
<li><font size="2"></font><font face="Arial" size="2">Dr. David Sidransky,
Director of the Head and Neck Cancer Research Division at Johns Hopkins
University School of Medicine, was named Chairman of the Board in October
2007.</font></li>
<li><font size="2"></font><font face="Arial" size="2">Champions Biotechnology
formed its first Management Team and appointed new Board of Directors members in
late March 2008.</font></li>
<li><font size="2"></font><font face="Arial" size="2">The Company completed a
$2.5 million private financing in April 2008.</font></li>
<li><font size="2"></font><font face="Arial" size="2">The Company launched its
Preclinical EValuation business in the fourth quarter and signed an agreement
with ImClone Systems, Inc. to evaluate antibodies in their preclinical
development pipeline.  </font></li>
<li><font size="2"></font><font face="Arial" size="2">The Company developed its
Biomerk Tumorgraft preclinical platform and its Preclinical EValuation business
while growing its Personalized Oncology revenues and achieving profitability for
the
year.</font></li></ul><br><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;We are greatly encouraged by the Company&#8217;s progress in our first full year of operations,&#8221; stated Douglas Burkett, Ph.D., President of Champions Biotechnology, Inc.  &#8220;In the coming year our new Management team will focus on growing our Biomerk Tumorgraft preclinical platform which we believe can predict the outcome of Phase II clinical trials at the early preclinical stage.  We plan to expand our team and work toward growth of our Personalized Oncology and Preclinical EValuation businesses while we advance the preclinical development of SG410, our own oncology drug candidate.  We also plan to use our preclinical platform to evaluate early stage oncology drug candidates and to identify those drugs with high potential that the Company may wish to acquire or partner to develop.&#8221; </font><br><br><a name="_DV_M10"></a><font face="Arial" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fo
r more information regarding Champions Biotechnology&#8217;s growing business and recent news, please visit </font><a name="_DV_M11"></a><a name="_DV_M12"></a><a name="_DV_M13"></a><a name="_DV_M14"></a><a name="_DV_M15"></a><a name="_DV_M16"></a><a name="_DV_M17"></a><a name="_DV_M18"></a><font face="Arial" size="2" color="#0000ff">www.championsbiotechnology.com</font><font face="Arial" size="2">.</font><br><br><font face="Arial" size="2"><b>About Champions Biotechnology, Inc. </b></font><br><br><font face="Arial" size="2">Champions Biotechnology, Inc. is engaged in the development of advanced preclinical platforms and predictive tumor specific data to enhance and accelerate the value of oncology drugs.  The Company&#8217;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 xenografts (Biomerk Tumorgrafts&#8482;) in a manner that preserves the biological characteristics of the original human tumor.  T
he Company believes that these Tumorgrafts closely reflect human cancer biology and their response to drugs is more predictive of clinical outcomes in cancer patients. </font><br><br><font face="Arial" size="2">Champions Biotechnology leverages its preclinical platform to evaluate drug candidates and to develop a portfolio of novel therapeutic candidates through pre-clinical trials.  As drugs progress through this early stage of 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 and drug candidates in models that integrate prognostic testing with biomarker discovery.  </font><br><br><br></p align="center">
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<font size="2">2</font></p>
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<p>
<br><br><font face="Arial" size="2">Champions Biotechnology is dedicated to enhancing preclinical development tools, accelerating development and valuation of oncology drugs, and advancing personalized treatment with a goal to improve the lives of cancer patients globally.</font><br><br><font face="Arial" size="2"><i>This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Act of 1995) that inherently involve risk and uncertainties. Champions Biotechnology 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&#8217;s actual results could differ materially from those anticipated in the forward-looking statements for many unforeseen factors. See Champions Biotechnology&#8217;s Form 10-KSB for the fiscal year ended April 30, 2008 for a discussion of such ris
ks, 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 Biotechnology&#8217;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 Biotechnology&#8217;s expectations, except as required by law. </i></font><br><br><font face="Arial" size="2"><b>CHAMPIONS BIOTECHNOLOGY, INC. WEB SITE: </b></font><font face="Arial" size="2" color="#0000ff"><b>www.championsbiotechnology.com</b></font><br><br><br></p align="center">
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