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<SEC-DOCUMENT>0001362310-09-004364.txt : 20090326
<SEC-HEADER>0001362310-09-004364.hdr.sgml : 20090326
<ACCEPTANCE-DATETIME>20090326171436
ACCESSION NUMBER:		0001362310-09-004364
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090324
ITEM INFORMATION:		Changes in Registrant's Certifying Accountant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090326
DATE AS OF CHANGE:		20090326

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:		09707359

	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>c83152e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">
<DIV style="font-size: 10pt">
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>

<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): March 24, 2009</B>


<P style="font-size: 24pt" align="center"><B>CHAMPIONS BIOTECHNOLOGY,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-17263</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>52-1401755</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Science and Technology Park
at Johns Hopkins<BR>
855 N. Wolfe Street, Baltimore, MD<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>21205</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(410) 630-1313</B>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="30%" border="0">

 <TR>
  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid"
nowrap><B>Inapplicable<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">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:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<DIV
style="margin-top: 10pt; font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">1
</DIV>

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<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>INFORMATION TO BE INCLUDED IN THE
REPORT</B>

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;4.01. Changes in
Registrant&#8217;s Certifying Accountant.</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">On March&nbsp;24,
2009, the Audit Committee of the Board of Directors (the &#8220;Audit
Committee&#8221;) of Champions Biotechnology, Inc. (the
&#8220;<B>Company</B>&#8221;) dismissed its independent registered public
accounting firm, Bagell, Josephs, Levine &amp; Company, L.L.C.
(&#8220;<B>Bagell Josephs</B>&#8221;), and engaged Ernst &amp; Young LLP
(&#8220;<B>E&amp;Y</B>&#8221;) as its independent registered public accounting
firm for the year ended April&nbsp;30, 2009. The change in auditors became
effective immediately. This determination followed the Company&#8217;s decision
to seek proposals from independent accountants to audit the consolidated
financial statements of the Company, and was approved by the Company&#8217;s
Board of Directors upon the recommendation of its Audit Committee.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The audit reports
of Bagell Josephs on the consolidated financial statements of the Company as of
and for the fiscal years ended April&nbsp;30, 2007 and April&nbsp;30, 2008 did
not contain any adverse opinion or disclaimer of opinion, and were not
qualified or modified as to uncertainty, audit scope or accounting principles.

<P style="font-size: 10pt; text-indent: 4%" align="justify">During the fiscal
years ended April&nbsp;30, 2007 and April&nbsp;30, 2008, and the subsequent
period through March&nbsp;23, 2009, there were no disagreements (as defined in
Item&nbsp;304(a)(1)(iv) of regulation S-K and the related instructions to Item
304 of Regulation&nbsp;S-K) with Bagell Josephs, on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which disagreements, if not resolved to Bagell Josephs&#8217;
satisfaction, would have caused Bagell Josephs to make reference to the subject
matter of the disagreement in its reports on the consolidated financial
statements for such years.

<P style="font-size: 10pt; text-indent: 4%" align="justify">During the years
ended April&nbsp;30, 2007 and April&nbsp;30, 2008 and the subsequent period
through March&nbsp;23, 2009, there were no reportable events (as defined in
Item&nbsp;304(a)(1)(v) of Regulation&nbsp;S-K), except that in 2008, the Audit
Committee discussed with Bagell Josephs the existence of a material weakness in
the Company&#8217;s internal control over financial reporting related to
inadequate staffing and supervision that could lead to the untimely
identification and resolution of accounting and disclosure matters and failure
to perform timely and effective reviews. This material weakness is more fully
described in the Company&#8217;s Annual Reporting on Form 10-KSB for the year
ended April&nbsp;30, 2008, filed July&nbsp;29, 2008 with the Securities and
Exchange Commission (the &#8220;SEC&#8221;). The Company authorized Bagell
Josephs to respond fully to the inquiries of E&amp;Y concerning the material
weakness.

<P style="font-size: 10pt; text-indent: 4%" align="justify">During fiscal years
ended April&nbsp;30, 2007 and April&nbsp;30, 2008, and the subsequent interim
period through March&nbsp;23, 2009, neither the Company nor anyone acting on
its behalf has consulted with E&amp;Y regarding any of the matters or events
set forth in Item&nbsp;304(a)(2)(i)&nbsp;and (ii)&nbsp;of Regulation&nbsp;S-K.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The Company has
provided a copy of this Form 8-K to Bagell Josephs and requested Bagell Josephs
to furnish a letter as required by Item&nbsp;304(a)(3) of Regulation&nbsp;S-K.
A copy of letter from Bagell Josephs dated March&nbsp;25, 2009 is attached
hereto as Exhibit&nbsp;16.1 to this Report.

<P style="font-size: 10pt; text-indent: 4%" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;9.01. Financial
Statements and Exhibits.</B>

<P style="font-size: 10pt" align="justify"><I>(d)&nbsp;Exhibits</I>

<P style="font-size: 10pt" align="justify">The following exhibits are filed
herewith:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="8%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="87%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">Exhibit&nbsp;No. </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR style="font-size: 1px">
  <TD style="border-top: #000000 1px solid" valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">16.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Letter of Bagell, Josephs, Levine &amp;
Company, L.L.C.</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">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.

<P style="font-size: 10pt; margin-left: 46%" align="justify"><B>CHAMPIONS
BIOTECHNOLOGY, INC.</B> <BR>
(Registrant)

<P style="font-size: 10pt" align="justify">Date: March&nbsp;25, 2009

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 46%"
align="justify">By:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>/</B>s/
Douglas D.
Burkett&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Douglas D. Burkett <BR>
President

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
</DIV>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-16.1
<SEQUENCE>2
<FILENAME>c83152exv16w1.htm
<DESCRIPTION>EXHIBIT 16.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 16.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="right"><U>Exhibit&nbsp;16.1</U>

<P style="font-size: 10pt" align="center"><B>BAGELL, JOSEPHS, LEVINE &amp;
COMPANY, L.L.C.</B><BR>
Certified Public Accountants<BR>
406 Lippincott
Drive<BR>
Suite&nbsp;J<BR>
Marlton, New Jersey 08053<BR>
(856)&nbsp;355-5900
Fax (896)&nbsp;346-0022

<P style="font-size: 10pt" align="justify">March&nbsp;25, 2009

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 75%"
align="justify"><U>Exhibit&nbsp;16.1</U>

<P style="font-size: 10pt" align="justify">Securities and Exchange Commission
<BR>
100 F Street N.E. <BR>
Washington, D.C. 20549

<P style="font-size: 10pt" align="justify">We have been furnished with a copy
of the response to Item&nbsp;4.01 of Form 8-K for the event that occurred on
March&nbsp;24, 2009, to be filed by our former client, Champions Biotechnology,
Inc. We agree with the statements made in response to that Item insofar as they
relate to our Firm.

<P style="font-size: 10pt" align="justify">Very truly yours,

<P style="font-size: 10pt" align="justify">/s/ Bagell, Josephs, Levine &amp;
Company, L.L.C. <BR>
Bagell, Josephs, Levine &amp; Company, L.L.C.

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">&nbsp;
</DIV>
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