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<SEC-DOCUMENT>0001297077-09-000010.txt : 20090318
<SEC-HEADER>0001297077-09-000010.hdr.sgml : 20090318
<ACCEPTANCE-DATETIME>20090318170159
ACCESSION NUMBER:		0001297077-09-000010
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090318
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090318
DATE AS OF CHANGE:		20090318

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:		09691484

	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>cbi8k-031809.htm
<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 style="border-bottom:double">
<font size="2">&nbsp;&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>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>_________________________</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">
<b>FORM 8-K</b></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>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>March 17,
2009</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">
<b>CHAMPIONS BIOTECHNOLOGY, INC.</b></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>
<tr valign="top">
<td width="637.333174" colspan="1" rowspan="1" >
&nbsp;</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="230.666609" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>Delaware</b></font></p align="center">
</td>
<td width="235.999941" colspan="1" rowspan="1" >
<p align="center">
<font size="2"><b>0-17263</b></font></p align="center">
</td>
<td width="169.333291" 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="230.666609" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(State or Other Jurisdiction</font></p align="center">
</td>
<td width="235.999941" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(Commission File Number)</font></p align="center">
</td>
<td width="169.333291" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(IRS Employer</font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="230.666609" colspan="1" rowspan="1" >
<p align="center">
<font size="2">of Incorporation)</font></p align="center">
</td>
<td width="235.999941" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="169.333291" 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"><b>Science and Technology Park at Johns
Hopkins</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>855 N. Wolfe Street, Baltimore, MD
21205</b></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>
<font size="2">Registrant&#8217;s telephone number, including area code:
<b>(410) 630-1313</b></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>Inapplicable</b></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>
<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">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 align="center">
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="50.666654" colspan="1" rowspan="1" >
<p align="center">
<font size="2">&#9723;</font></p align="center">
</td>
<td width="586.666520" 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="50.666654" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="586.666520" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="50.666654" colspan="1" rowspan="1" >
<p align="center">
<font size="2">&#9723;</font></p align="center">
</td>
<td width="586.666520" 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="50.666654" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="586.666520" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="50.666654" colspan="1" rowspan="1" >
<p align="center">
<font size="2">&#9723;</font></p align="center">
</td>
<td width="586.666520" 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="50.666654" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="586.666520" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="50.666654" colspan="1" rowspan="1" >
<p align="center">
<font size="2">&#9723;</font></p align="center">
</td>
<td width="586.666520" 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>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="83.999979" colspan="1" rowspan="1" >
<p>
<a name="node13"></a><font size="2"><b>Item 2.02.</b></font></p>
</td>
<td width="551.999862" colspan="1" rowspan="1" >
<p>
<font size="2"><b>Results of Operations and Financial Condition.</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="637.333174" colspan="1" rowspan="1" >
<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March 18, 2009,
Champions Biotechnology, Inc.  (the &#8220;<b>Company</b>&#8221;) announced its
results of operations for its fiscal quarter ended January 31, 2009.  A copy of
the Company&#8217;s press release announcing such results dated March 18, 2009
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="83.999979" colspan="1" rowspan="1" >
<p>
<font size="2"><b>Item</b> <b>9.01.</b></font></p>
</td>
<td width="551.999862" 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="637.333174" colspan="2" rowspan="1" >
<p>
<font size="2"><i>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</i></font></p>
</td>
</tr>
<tr valign="top">
<td width="335.999916" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="301.333258" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="335.999916" colspan="1" rowspan="1" >
<p>
<font size="2">The following exhibits are filed herewith:</font></p>
</td>
<td width="301.333258" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="335.999916" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="301.333258" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="335.999916" colspan="1" rowspan="1" >
<p>
<font size="2"><u>Exhibit No.</u></font></p>
</td>
<td width="301.333258" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="2" rowspan="1" >
<p>
<font size="2">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated March 18,
2009</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>
</table></div>
<p>
</p>
<div align="center" style="position:relative; left: -5"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="366.666575" colspan="1" rowspan="1" >
<p>
<font size="2"><b>&nbsp;</b></font></p>
</td>
<td width="270.666599" colspan="2" rowspan="1" >
<p>
<font size="2"><b>CHAMPIONS BIOTECHNOLOGY, INC.</b></font></p>
</td>
</tr>
<tr valign="top">
<td width="366.666575" colspan="1" rowspan="1" >
<p>
<font size="2">&nbsp;</font></p>
</td>
<td width="270.666599" colspan="2" rowspan="1" >
<p>
<font size="2">(Registrant)</font></p>
</td>
</tr>
<tr valign="top">
<td width="366.666575" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="34.666658" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="234.666608" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="366.666575" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="34.666658" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="234.666608" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="366.666575" colspan="1" rowspan="1" >
<p>
<font size="2">Date: March 18, 2009</font></p>
</td>
<td width="34.666658" colspan="1" rowspan="1" >
<p>
<font size="2">By:</font></p>
</td>
<td width="234.666608" colspan="1" rowspan="1" >
<p>
<font size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Douglas D.
Burkett        &nbsp;&nbsp;</u></font></p>
</td>
</tr>
<tr valign="top">
<td width="366.666575" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="34.666658" colspan="1" rowspan="1" >
<p>
<font size="2">&nbsp;</font></p>
</td>
<td width="234.666608" colspan="1" rowspan="1" >
<p>
<font size="2">Douglas D. Burkett</font></p>
</td>
</tr>
<tr valign="top">
<td width="366.666575" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="34.666658" colspan="1" rowspan="1" >
<p>
<font size="2">&nbsp;</font></p>
</td>
<td width="234.666608" 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 align="right">
<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="right">
<font size="2"><b><u>Exhibit 99.1</u></b></font></p align="right">
</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="306.666590" colspan="1" rowspan="1" >
<p style="border-bottom:solid windowtext .5pt">
<font size="5">Champions Biotechnology, Inc. </font></p>
</td>
<td width="330.666584" colspan="1" rowspan="1" >
<p align="right" style="border-bottom:solid windowtext .5pt">
<font size="5">NEWS</font></p>
</td>
</tr>
<tr valign="top">
<td width="637.333174" colspan="2" rowspan="1" >
<p align="center">
<font size="2">Science &amp; Technology Park at Johns Hopkins, 855 N. Wolfe
Street, Baltimore, MD 21205 USA. Tel. 410-630-1313</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">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 Third Quarter
Financial Results  </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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baltimore, MD, March
18, 2009 -- 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 third fiscal quarter ended January 31, 2009.  Full details of the
Company&#8217;s financial results are available in the Company&#8217;s Form 10-Q
at</font><a name="_DV_M4"></a><font size="2" color="#0000ff">
</font><font size="2" color="#0000ff"><u>www.championsbiotechnology.com</u>.
</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_M5"></a><a name="_DV_M6"></a><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
revenues for the third quarter of fiscal 2009 increased to $1,052,175, compared
to $624,940 for the same period in 2008.  The Company derived its revenues from
its Personalized Oncology and its Preclinical eValuation businesses.
</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">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating
expenses for the third fiscal quarter of 2009 were $1,696,457 compared to
$319,998 for the same period of last year. Third quarter 2009 operating expenses
included the following:  </font></p>
</td>
</tr>
<tr valign="top">
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research and
development expenses were $435,274, compared to $0.00 for the comparable prior
period in fiscal 2008.  The increase of $435,274 was primarily related to the
Company&#8217;s effort to build its preclinical platform and drug pipeline and
develop its drug, SG410.  In addition, the Company incurred expenses related to
its business development activities and personnel.</font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The costs of
personalized oncology and preclinical eValuation services were $898,777 for the
quarter ended January 31, 2009, as compared to $201,222 in the quarter ended
January 31, 2008. The increase in personalized oncology costs relates mainly to
the overall growth in the business and a $250,000 payment to fund the cost of a
Personalized Vaccine&#8482; program the Company entered into during the current
quarter.  The Personalized Vaccine program is structured such that the cost to
establish the program is incurred primarily in the third and fourth quarter; if
the program successfully continues in fiscal 2010 it is anticipated to generate
a profit for the Company. During the quarter Champions also entered into an
agreement with a pharmaceutical company whereby Champions reduced its overall
gross margin on a preclinical eValuations contract in exchange for a royalty
agreement on future sales for a specific indication of the compound being
tested. </font></p>
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<font size="2">&nbsp;</font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and
administrative expenses in the third quarter of 2009 were $362,406, compared to
$118,776 in the comparable quarter of 2008, an increase of $243,630.  Expenses
increased as the Company began to incur the cost of building up its internal
operational infrastructure including the addition of personnel, consultants and
costs associated with being a public company.  </font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company reported a
net loss of $623,234 or $0.02 per basic share for the third quarter of fiscal
2009, as compared to net income of $311,006 or $0.01 per basic and diluted
shares in the third fiscal quarter of 2008.  </font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#8217;s
cash position on January 31, 2009, was $2,624,866.  The Company&#8217;s working
capital as of January 31, 2009, was $2,025,319.   Not included in the cash
balance above is a $1.0 million Certificate of Deposit that the Company
purchased in June 2008.</font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the nine-month
period ended January 31, 2009, revenues were $2,769,464 compared to $874,940 for
the same period in 2008. Total operating expenses were $3,858,647, compared to
$716,986 for 2008, and the Company reported a net loss of $1,022,306 or $0.03
per basic and diluted shares, as compared to net income of $174,011 or $0.01 per
basic and diluted shares for 2008.&nbsp; The Company began operations as a
biotechnology company in May 2007.  Accordingly, the nine-month results for 2008
do not reflect a full nine-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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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;Our growth in
revenues helps offset our early stage expenses. As a result, we have ended the
quarter at $3.6 million in cash and Certificates of Deposit vs. $3.7 million at
April 30, 2008.  Our revenue generation reduces our risk and provides a
significant part of the capital required to grow high potential initiatives.  We
believe that this strategy gives us an advantage in this economic climate, while
many in the biotech industry are more adversely affected by the financial
crisis,&#8221; stated Douglas Burkett, Ph.D., President of Champions
Biotechnology, Inc.  &#8220;Although our third quarter revenues of $1,052,175
were just slightly higher than our second quarter revenue of $1,044,172, the
Company&#8217;s deferred revenue in the third quarter climbed to $1,361,110
compared to $461,838 for our second quarter ended October 31, 2008.&#8221;
</font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;We intend to
grow revenue from our Personalized Oncology and Preclinical eValuation
businesses as we build our own drug pipeline,&#8221; continued Dr. Burkett.
&#8220;During the third quarter we identified oncology drug candidates from
academic centers, pharmaceutical and biotech companies and began negotiations
with license holders.  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. The Company plans to
partner with pharmaceutical or biotechnology companies to advance its drugs
through remaining preclinical and clinical trials.&#8221;   </font></p>
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<font size="2">&nbsp;</font></p>
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<p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Highlights of the
Company&#8217;s third quarter ending January 31, 2009:</font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Company
continued to expand its preclinical eValuation platform through additional
collaborations to acquire tumor samples and by implanting, propagating and
storing banks of Biomerk Tumorgrafts<sup>TM</sup> for use in future analysis of
oncology drugs.</font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The growing
platform of Biomerk Tumorgrafts generated growing interest from large and small
pharmaceutical and biotechnology companies for the use of the Company&#8217;s
technology to evaluate compounds.  This effort resulted in contracts including
two with Centocor, Inc. </font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The Company entered
into a royalty agreement with Concordia Pharmaceuticals to realize the potential
upside value of Salirasib, Concordia&#8217;s novel compound for the treatment of
cancer, in combination with another targeted drug. </font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The Company
established collaboration with Gradalis Inc. and Mary Crowley Medical Research
Center to develop personalized vaccines for cancer patients through the use of
the Biomerk Tumorgraft technology.  </font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The Company grew
the number of procedures within its Personalized Oncology business by 33% and
has initiated processes to make this service more readily available in key
international markets. </font></p>
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<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The Company
continued to expand initiatives to develop its own drug pipeline.  During the
quarter numerous candidates were identified, due-diligence was performed, and
the Company is currently in negotiations for acquisition or co-development of a
number of agents.</font></p>
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<p>
<a name="_DV_M7"></a><a name="_DV_M8"></a><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">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
more information regarding Champions Biotechnology please visit our web site at
</font><font size="2" color="#0000ff"><u>www.championsbiotechnology.com<!--<a href="">.</a></u></font></p>
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&nbsp;</td>
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<p>
<font size="2"><b>About Champions Biotechnology, Inc. </b></font></p>
</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.  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.  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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<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.  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.
</font></p>
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<font size="2">&nbsp;</font></p>
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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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&nbsp;</td>
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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>
<font size="2"><b>CHAMPIONS BIOTECHNOLOGY, INC. WEB SITE:
</b></font><font size="2" color="#0000ff"><b><u>www.championsbiotechnology.com</u></b></font></p>
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&nbsp;</td>
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<p>
<font size="2">For more news and information on&nbsp;<b>Champions Biotechnology,
Inc., </b>please visit <a
href="http://www.IRGnews.com/coi/CSBR">www.IRGnews.com/coi/CSBR</a> where you
can find the CEO&#8217;s video, a fact sheet on the company, investor
presentations, and more.</font></p>
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&nbsp;</td>
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<font size="2">&nbsp;</font></p>
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