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<SEC-DOCUMENT>0001297077-08-000112.txt : 20081217
<SEC-HEADER>0001297077-08-000112.hdr.sgml : 20081217
<ACCEPTANCE-DATETIME>20081217113650
ACCESSION NUMBER:		0001297077-08-000112
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081216
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20081217
DATE AS OF CHANGE:		20081217

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:		081254138

	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>cbi8kfor121608earnings2.htm
<DESCRIPTION>CBI 12/16/08 8-K
<TEXT>
<html>
<head><meta content="text/html; charset=">
<title> </title>
</head>

<body >
<ul>
</ul>

<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
</p align="center">
<p align="center" style="border-bottom:double">
<font size="2">&nbsp;&nbsp;</font></p>
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">WASHINGTON, D.C.  20549</font></p align="center">
</td>
</tr>
</table></div>
<p align="center">
<font size="2"><b>_________________________</b></font></p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>FORM 8-K</b></font></p align="center">
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>THE SECURITIES EXCHANGE ACT OF
1934</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">Date of report (Date of earliest event reported):  <b>December
16, 2008</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>CHAMPIONS BIOTECHNOLOGY, INC.</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(Exact name of registrant as specified in its
charter)</font></p align="center">
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="239.999940" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>Delaware</b></font></p align="center">
</td>
<td width="191.999952" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>0-17263</b></font></p align="center">
</td>
<td width="203.999949" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>52-1401755</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="239.999940" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(State or Other Jurisdiction</font></p align="center">
</td>
<td width="191.999952" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(Commission File Number)</font></p align="center">
</td>
<td width="203.999949" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(IRS Employer</font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="239.999940" colspan="1" rowspan="1" >
<p align="center">
<font size="2">of Incorporation)</font></p align="center">
</td>
<td width="191.999952" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="203.999949" colspan="1" rowspan="1" >
<p align="center">
<font size="2">Identification No.)</font></p align="center">
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">1400 North 14th Street, Arlington, Virginia
22209</font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(Address of Principal Executive
Offices)</font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">Registrant&#8217;s telephone number, including area code:
<b>(410) 630-1313</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">Inapplicable</font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(Former Name or Former Address if Changed Since Last
Report)</font></p align="center">
</td>
</tr>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<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:</font></p>
</td>
</tr>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="30.666659" colspan="1" rowspan="1" >
<p>
<font size="2">&#8301;</font></p>
</td>
<td width="605.333182" colspan="1" rowspan="1" >
<p>
<font size="2">Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</font></p>
</td>
</tr>
<tr valign="top">
<td width="30.666659" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="605.333182" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="30.666659" colspan="1" rowspan="1" >
<p>
<font size="2">&#8301;</font></p>
</td>
<td width="605.333182" colspan="1" rowspan="1" >
<p>
<font size="2">Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</font></p>
</td>
</tr>
<tr valign="top">
<td width="30.666659" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="605.333182" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="30.666659" colspan="1" rowspan="1" >
<p>
<font size="2">&#8301;</font></p>
</td>
<td width="605.333182" colspan="1" rowspan="1" >
<p>
<font size="2">Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))</font></p>
</td>
</tr>
<tr valign="top">
<td width="30.666659" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="605.333182" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="30.666659" colspan="1" rowspan="1" >
<p>
<font size="2">&#8301;</font></p>
</td>
<td width="605.333182" colspan="1" rowspan="1" >
<p>
<font size="2">Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</font></p>
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center" style="border-bottom:double">
<font size="2">&nbsp;</font></p>
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>INFORMATION TO BE INCLUDED IN THE
REPORT</b></font></p align="center">
</td>
</tr>
</table></div>
<p align="center">
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="71.999982" colspan="1" rowspan="1" >
<p>
<a name="node13"></a><font size="2"><b>Item 2.02.</b></font></p>
</td>
<td width="563.999859" colspan="1" rowspan="1" >
<p>
<font size="2"><b>Results of Operations and Financial Condition</b></font></p>
</td>
</tr>
</table></div>
<p>
<font size="2"><b>.</b></font></p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="23.999994" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="613.333180" colspan="1" rowspan="1" >
<p>
<font size="2">On December 16, 2008, Champions Biotechnology, Inc.  (the
&#8220;<b>Company</b>&#8221;) announced its results of operations for its fiscal
quarter ended October 31, 2008.  A copy of the Company&#8217;s press release
announcing such results dated December 16, 2008 is attached hereto as
Exhibit&nbsp;99.1.  This Form 8-K and the attached exhibit are furnished to, but
not filed with, the Securities and Exchange Commission
(&#8220;<b>SEC</b>&#8221;) and shall not be deemed to be incorporated by
reference into any of the Company&#8217;s filings with the SEC under the
Securities Act of 1933.</font></p>
</td>
</tr>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="71.999982" colspan="1" rowspan="1" >
<p>
<font size="2"><b>Item 9.01.</b></font></p>
</td>
<td width="563.999859" colspan="1" rowspan="1" >
<p>
<font size="2"><b>Financial Statements and Exhibits.</b></font></p>
</td>
</tr>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="41.333323" colspan="1" rowspan="1" >
<p>
<font size="2"><i>(c)</i></font></p>
</td>
<td width="565.333192" colspan="1" rowspan="1" >
<p>
<font size="2"><i>Exhibits</i></font></p>
</td>
</tr>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">The following exhibits are filed herewith:</font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2"><u>Exhibit No.</u></font></p>
</td>
</tr>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="71.999982" colspan="1" rowspan="1" >
<p>
<font size="2">99.1</font></p>
</td>
<td width="563.999859" colspan="1" rowspan="1" >
<p>
<font size="2">Press Release dated December 16, 2008</font></p>
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>SIGNATURES</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">    &nbsp;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></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>CHAMPIONS BIOTECHNOLOGY, INC.</b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(Registrant)</font></p align="center">
</td>
</tr>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="203.999949" colspan="1" rowspan="1" >
<p>
<font size="2">Date: December 16, 2008</font></p>
</td>
<td width="35.999991" colspan="1" rowspan="1" >
<p>
<font size="2">By:</font></p>
</td>
<td width="395.999901" colspan="1" rowspan="1" >
<p>
<font size="2"><u> /s/ Douglas D. Burkett        &nbsp;&nbsp;</u></font></p>
</td>
</tr>
<tr valign="top">
<td width="203.999949" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="35.999991" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="395.999901" colspan="1" rowspan="1" >
<p>
<font size="2">Douglas D. Burkett</font></p>
</td>
</tr>
<tr valign="top">
<td width="203.999949" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="35.999991" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="395.999901" colspan="1" rowspan="1" >
<p>
<font size="2">President</font></p>
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center" style="border-bottom:double">
<font size="2">&nbsp;</font></p>
</td>
</tr>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="186.666620" colspan="1" rowspan="1" >
<p>
<font size="2"><b><u>Exhibit 99.1</u></b></font></p>
</td>
<td width="450.666554" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="186.666620" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="450.666554" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="186.666620" colspan="1" rowspan="1" >
<p>
<font size="2">Champions Biotechnology, Inc.</font></p>
</td>
<td width="450.666554" colspan="1" rowspan="1" >
<p>
<font size="2">NEWS</font></p>
</td>
</tr>
</table></div>
<p align="center">
<p align="center">
<font size="2">1400 North 14<sup>th</sup> Street, Arlington, Virginia 22209 USA.
Tel. 410-630-1313</font></p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">For Immediate Release </font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>Champions Biotechnology Reports Fiscal 2009 Second Quarter
Financial Results&nbsp; </b></font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">Arlington, VA, December 16, 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, reports its financial results for the second fiscal quarter ended October
31, 2008.&nbsp; Full details of the Company&#8217;s financial results are
available in the Company&#8217;s Form 10-Q at
www.championsbiotechnology.com</font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<a name="_DV_M4"></a><a name="_DV_M5"></a><a name="_DV_M6"></a><font size="2">Total
revenues for the second quarter of fiscal 2009 increased to $1,044,172, compared
to $0.00 for the same period in 2008.&nbsp; The Company derived its revenues
from its Personalized Oncology business and its Preclinial eValuation contracts.
</font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">Total operating expenses for the second fiscal quarter of 2009
were $1,300,875, an increase of 766% compared to $150,198 for the same period of
last year. Second quarter 2009 operating expenses included the following:&nbsp;
</font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">Research and development expenses were $419,404, compared to
$30,910 for the comparable prior period in fiscal 2008.&nbsp; The increase of
$388,494 was primarily related to expenses for Tumorgraft acquisition and
development, efforts to acquire or partner to develop early stage oncology drug
candidates and increased expenses related to the development of the
Company&#8217;s lead oncology drug candidate, SG410.</font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">The costs of personalized oncology and preclinical contract
services were $458,586 for the quarter ended October 31, 2008 as compared to
$0.00 in the quarter ended October 31, 2007.</font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">General and administrative expenses in the second quarter of 2009
were $422,885 compared to $119,288 in the comparable quarter of 2008, an
increase of $303,597, or 255%.&nbsp; Expenses increased as the Company continued
to grow its operational infrastructure including the addition of personnel and
consultants.&nbsp; </font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
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<p>
<font size="2">The Company reported a net loss of $231,590, or $0.01 per basic
and diluted shares, for the second quarter of fiscal 2009 as compared to a net
loss of $145,563, or $0.00 per basic and diluted shares, in the second fiscal
quarter of 2008.&nbsp; </font></p>
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&nbsp;</td>
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<p>
<font size="2">The Company&#8217;s cash position on October 31, 2008, was
$3,052,558.&nbsp; The Company&#8217;s working capital as of October 31, 2008 was
$2,555,599. </font></p>
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&nbsp;</td>
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<p>
<font size="2">For the six-month period ended October 31, 2008, revenues were
$1,717,289 compared to $250,000 for the same period in 2007, total operating
expenses were $2,162,190 compared to $396,989 for 2007, and the Company reported
a net loss of $399,072, or $0.01 per basic and diluted share, as compared to a
net loss of $136,995, or $0.00 per basic and diluted shares, for 2007.&nbsp; The
Company began operations as a biotechnology company in May 2007.&nbsp;
Accordingly, our six month results for 2007 do not reflect a full six-month
period.&nbsp;&nbsp; Furthermore, the Company began to generate revenue from its
Preclinical eValuation business in the fiscal quarter ended July 31,
2008.</font></p>
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&nbsp;</td>
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<p>
<font size="2">&#8220;Our strategy is to generate revenues to help offset our
early stage expenses.&nbsp; We believe this strategy reduces our risk and fuels
high potential initiatives while most of the biotech industry is affected by the
financial crisis,&#8221; stated Douglas Burkett, Ph.D., President of Champions
Biotechnology, Inc.&nbsp; &#8220;Our second quarter revenue grew 55% vs. our
first quarter revenue as awareness of the unique value of our technology
increased.&nbsp; Early studies suggest that our Biomerk Tumorgraft&#8482;
preclinical platform is predictive of Phase II clinical outcomes.&nbsp; Such
predictive capability would represent a leap in preclinical technology, enabling
an expedited and more efficient process for bringing targeted oncology drugs to
market.&#8221;&nbsp; </font></p>
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&nbsp;</td>
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<p>
<font size="2">&#8220;We intend to generate revenue from our Personalized
Oncology and Preclinical eValuation businesses as we build our own drug
pipeline,&#8221; continued Dr. Burkett.&nbsp; &#8220;During the second quarter
we began the process of identifying oncology drug candidates from academic
centers, pharmaceutical and biotech companies.&nbsp; We intend to leverage our
predictive platform to screen drug candidates and acquire, or partner to
develop, drug candidates that demonstrate efficacy in our Biomerk Tumorgraft
models.&nbsp; The Company plans to advance its drugs through preclinical trials
and then sell or license the drug to, or partner with, leading </font></p>
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<p>
<font size="2">pharmaceutical or biotech companies for the remaining clinical
development.&nbsp; If successful, this would achieve the Company&#8217;s plan to
realize anticipated high returns based on a relatively low investment in each
drug.&#8221;&nbsp;&nbsp; </font></p>
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</p align="center">
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<font size="2">&nbsp;</font></p>
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&nbsp;</td>
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<p>
<font size="2">Highlights of the first quarter are:</font></p>
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<p>
<font size="2">(1) The Company grew its preclinical platform by expanding its
collaborations to acquire tumor samples and by implanting, propagating and
storing banks of Biomerk Tumorgrafts for use in future analysis of oncology
drugs.</font></p>
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<p>
<font size="2">(2) The growing platform of Biomerk Tumorgrafts generated growing
interest and use of the Company&#8217;s technology from large and small
pharmaceutical and biotechnology companies. </font></p>
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<p>
<font size="2">(3) The Company grew its Personalized Oncology business and plans
to make this service available in key international markets. </font></p>
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<p>
<font size="2">(4) The Company expanded initiatives to grow its own drug
pipeline.&nbsp; During the quarter, the Company engaged the services of
additional personnel to identify drug candidates; numerous candidates were
identified, discussions were initiated, and the Company is currently performing
due diligence on a number of agents for acquisition or co development
partnerships.</font></p>
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<p>
<a name="_DV_M7"></a><a name="_DV_M8"></a><font size="2">    </font></p>
</td>
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<p>
<a name="_DV_M9"></a><a name="_DV_M10"></a><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 size="2">For
more information regarding Champions Biotechnology please visit our web site at
<!--<a href="">www.championsbiotechnology.com.</a></font></p>
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<p>
</p>
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<font size="2"><b>About Champions Biotechnology, Inc. </b></font></p>
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&nbsp;</td>
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<p>
<font 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.&nbsp; 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 engraftments
(Biomerk Tumorgrafts&#8482;) in a manner that preserves the biological
characteristics of the original human tumor.&nbsp; Early studies suggest that
these Tumorgrafts closely reflect human cancer biology and their response to
drugs is predictive of clinical outcomes in cancer patients. </font></p>
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&nbsp;</td>
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<p>
<font 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.&nbsp; 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 in models that integrate prognostic testing with biomarker
discovery.&nbsp; </font></p>
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&nbsp;</td>
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<p>
<font 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></p>
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</p>
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<p>
<font 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 risks, uncertainties and other factors.
Although the Company believes the expectations reflected in the forward-looking
statements are reasonable, they relate only to events as of the date on which
the statements are made, and Champions 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></p>
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<p>
</p>
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<p>
<font size="2"><b>CHAMPIONS BIOTECHNOLOGY, INC. WEB SITE:
www.championsbiotechnology.com</b></font></p>
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</p>
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<p>
<font size="2"><b>Contact:</b></font></p>
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<p>
<font size="2">The Investor Relations Group, Inc.</font></p>
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<p>
<font size="2">Adam Holdsworth/James Carbonara, 212-825-3210</font></p>
</td>
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<p>
<font size="2">or</font></p>
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<td width="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">Public Relations</font></p>
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<p>
<font size="2">Susan Morgenbesser/Janet Vasquez, 212-825-3210</font></p>
</td>
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</table></div>
<p>
</p>


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