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<SEC-DOCUMENT>0000950123-10-113207.txt : 20101213
<SEC-HEADER>0000950123-10-113207.hdr.sgml : 20101213
<ACCEPTANCE-DATETIME>20101213172926
ACCESSION NUMBER:		0000950123-10-113207
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20101213
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20101213
DATE AS OF CHANGE:		20101213

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:		101248826

	BUSINESS ADDRESS:	
		STREET 1:		855 N. WOLFE STREET
		STREET 2:		SUITE 619
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21205
		BUSINESS PHONE:		410-369-0365

	MAIL ADDRESS:	
		STREET 1:		855 N. WOLFE STREET
		STREET 2:		SUITE 619
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21205

	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>c09673e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV
style="width: 7.5in; font-family: 'Times New Roman',Times,serif; margin-left: 0.25in">
<DIV style="font-size: 10pt">
<DIV
style="border-bottom: black 2pt solid; width: 100%; font-size: 1pt">&nbsp;</DIV>
<DIV
style="border-bottom: black 1pt solid; width: 100%; font-size: 1pt">&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): December 13, 2010</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="text-align: center; font-size: 10pt" border="0" cellspacing="0"
cellpadding="0" width="100%">

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

 <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, Suite 619, 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) 369-0365</B>
<TABLE style="text-align: center; font-size: 10pt" border="0" cellspacing="0"
cellpadding="0" width="30%">

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

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

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

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<DIV
style="width: 7.5in; font-family: 'Times New Roman',Times,serif; margin-left: 0.25in">

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

<P>
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">

 <TR
style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt"
valign="top">
  <TD width="3%" nowrap align="left"><B>Item&nbsp;2.02.</B></TD>
  <TD width="1%">&nbsp;</TD>
  <TD>
<DIV style="text-align: justify"><B>Results of Operations and Financial
Condition.</B></DIV>
</TD>
 </TR>

</TABLE>


<P style="text-indent: 4%; font-size: 10pt" align="justify">On
December&nbsp;13, 2010, Champions Biotechnology, Inc. (the
&#8220;<B>Company</B>&#8221;) announced its results of operations for its
second fiscal quarter ended October&nbsp;31, 2010. A copy of the
Company&#8217;s press release announcing such results dated December&nbsp;13,
2010 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.

<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>(c)&nbsp;Exhibits</I>

<P>
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">

 <TR
style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt"
valign="top">
  <TD width="3%" nowrap align="left">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>
<DIV style="text-align: justify">The following exhibits are filed
herewith:</DIV>
</TD>
 </TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">
<!-- 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="text-indent: 0px; margin-left: 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="text-indent: 0px; margin-left: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="text-indent: 0px; margin-left: 0px">99.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Press Release dated December&nbsp;13, 2010</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

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

<P style="text-indent: 4%; font-size: 10pt" 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="margin-left: 46%; font-size: 10pt" align="justify"><B>CHAMPIONS
BIOTECHNOLOGY, INC.</B> <BR>
(Registrant)

<P style="font-size: 10pt" align="justify">Date: December&nbsp;13, 2010

<P style="margin-top: -11pt; margin-left: 46%; font-size: 10pt"
align="justify">By: <U>/s/ Mark Schonau</U><BR>
Mark Schonau<BR>
Chief Financial Officer

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

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

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

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c09673exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV
style="width: 7.5in; font-family: 'Times New Roman',Times,serif; margin-left: 0.25in">

<P style="font-size: 10pt" align="right"><U><B>Exhibit&nbsp;99.1</B></U>

<P style="font-size: 10pt" align="center"><B>Champions Biotechnology,
Inc.<BR>
NEWS</B><BR>
855 N. Wolfe Street, Suite&nbsp;619, Baltimore, Maryland
21205 USA.<BR>
Tel. 410-369-0365

<P style="font-size: 10pt" align="justify">For Immediate Release

<P style="font-size: 10pt" align="center"><B>Champions Biotechnology Reports
Fiscal 2011 Second Quarter Financial Results</B>

<P style="font-size: 10pt" align="justify"><B>Baltimore, MD, December&nbsp;13,
2010 </B>&#8212; Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a
company engaged in the development of advanced preclinical platforms and tumor
specific data to enhance the value of oncology drugs, today announced its
financial results for the fiscal 2011 second quarter ended October&nbsp;31,
2010. Full details of the Company&#8217;s financial results will be available
in the Company&#8217;s Form 10-Q at www.championsbiotechnology.com.

<P style="font-size: 10pt" align="justify">Total revenues for the second
quarter of fiscal 2011 were $933,000 compared to $1,289,000 in the second
quarter of fiscal 2010, a decrease of 28%. Revenues from Personalized Oncology
were $288,000 compared to $589,000 in the corresponding quarter of the prior
year, a decrease of 51%. The overall reduction of Personalized Oncology
revenues resulted mainly from a drop in panel revenues during the quarter.
Revenues from Preclinical eValuation were $645,000 for the quarter compared to
$700,000 in the corresponding quarter of the prior year, a decrease of 8%.

<P style="font-size: 10pt" align="justify">Cost of Personalized Oncology
services for the three months ended October&nbsp;31, 2010 and 2009 were
$159,000 and ($13,000), respectively, an increase of $172,000. The increase was
primarily attributable to a one-time $125,000 credit taken in the 2009 period.

<P style="font-size: 10pt" align="justify">Cost of Preclinical eValuation
services for the three months ended October&nbsp;31, 2010 and 2009 were
$288,000 and $350,000, respectively, a decrease of $62,000, or 18%. For the
three months ended October&nbsp;31, 2010 and 2009, gross margins for
Preclinical eValuation services were 55% and 50%, respectively.

<P style="font-size: 10pt" align="justify">Research and development
(&#8220;R&amp;D&#8221;) expenses for the three months ended October&nbsp;31,
2010 and 2009 were $725,000 and $645,000, respectively, an increase of $80,000,
or 12%. The increase in R&amp;D expenses was mainly due to costs associated
with the development and testing of the Company&#8217;s four drug compounds.

<P style="font-size: 10pt" align="justify">General and administrative expenses
for the three months ended October&nbsp;31, 2010 and 2009 were $776,000 and
$891,000, respectively, a decrease of $115,000, or 13%. The decrease was
primarily attributable to the Company&#8217;s consolidation of its operations
to Baltimore, Maryland.

<P style="font-size: 10pt" align="justify">Interest and other income for the
second quarter of fiscal 2011 was $961,000 compared to zero in fiscal 2010. The
increase related to a cash grant awarded to the Company (cash was received in
November&nbsp;2010) for expenses previously incurred under the Qualifying
Therapeutic Discovery Project Program.

<P style="font-size: 10pt" align="justify">For the second quarter of fiscal
2011, the Company reported a net loss of $54,000, or ($0.00) per share,
compared to a net loss of $584,000, or ($0.02) per share, in the corresponding
quarter of fiscal 2010. In addition to the factors described above, the
Company&#8217;s net losses reflect non-cash expenses, i.e., share-based
compensation and depreciation, of $207,000 or ($0.01) per share, in the second
quarter of 2011 compared to $142,000, or ($0.00) per share, in the second
quarter of 2010.

<P style="font-size: 10pt" align="justify">The Company&#8217;s cash position on
October&nbsp;31, 2010 was $1.3&nbsp;million compared to $2.6&nbsp;million on
April&nbsp;30, 2010. The October&nbsp;31, 2010 cash balance does not include
the $960,000 received in November&nbsp;2010 related to the Therapeutic
Discovery Grant discussed below.

<P style="font-size: 10pt" align="justify">For the six-month period ended
October&nbsp;31, 2010, revenues were $2.5&nbsp;million compared to
$2.3&nbsp;million for the comparable period last year, an increase of $282,000,
or 13%. Total operating expenses which include costs of services, research and
development and general and administrative were $4.2&nbsp;million compared to
$3.8&nbsp;million for the comparable period last year, an increase of 8%. The
Company reported a net loss of $645,000 or $0.02 per share, as compared to a
net loss of $1.6&nbsp;million or $0.05 per share for the comparable period in
fiscal 2010.

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

<P style="display: none; font-size: 10pt" align="center">3
</DIV>

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<DIV
style="width: 7.5in; font-family: 'Times New Roman',Times,serif; margin-left: 0.25in">

<P style="font-size: 10pt" align="justify">Second Quarter Highlights:

<P>
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">

 <TR
style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD width="3%" nowrap align="left">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>
<DIV style="text-align: justify">On October&nbsp;25<SUP
style="font-size: 85%; vertical-align: text-top">th</SUP> announced the
appointment of Mr.&nbsp;Joel Ackerman, formerly of Warburg Pincus as the
Company&#8217;s Chief Executive Officer;</DIV>
</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">

 <TR
style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD width="3%" nowrap align="left">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>
<DIV style="text-align: justify">On October&nbsp;25<SUP
style="font-size: 85%; vertical-align: text-top">th</SUP> announced the
appointment of Dr.&nbsp;Ronnie Morris, formerly of MDVIP as the Company&#8217;s
President. Dr.&nbsp;Morris will concentrate on the development of the
personalized medicine business. Mr.&nbsp;Ackerman and Dr.&nbsp;Morris will also
be joining the Company&#8217;s Board of Directors;</DIV>
</TD>
 </TR>

</TABLE>

<P>
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">

 <TR
style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD width="3%" nowrap align="left">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>
<DIV style="text-align: justify">Preclinical eValuation business continued to
grow with bookings approximating $1.5&nbsp;million with six contracts
executed;</DIV>
</TD>
 </TR>

</TABLE>

<P>
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">

 <TR
style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD width="3%" nowrap align="left">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>
<DIV style="text-align: justify">Continued to expand its Biomerk Tumorgraft
platform to approximately 400 tumorgrafts which are available and/or in
development at October&nbsp;31, 2010, representing all of the major solid tumor
indications; and</DIV>
</TD>
 </TR>

</TABLE>

<P>
<TABLE style="font-size: 10pt" border="0" cellspacing="0" cellpadding="0"
width="100%">

 <TR
style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD width="3%" nowrap align="left">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>
<DIV style="text-align: justify">Was awarded a $1.5&nbsp;million grant under
the Qualifying Therapeutic Discovery Project administered under section 48D of
the Internal Revenue Service. The Company received $960,000 of the
$1.5&nbsp;million in November 2010.</DIV>
</TD>
 </TR>

</TABLE>

<P style="font-size: 10pt" align="justify">David Sidransky, M.D., Chairman of
the Board of Champions Biotechnology, Inc., noted, &#8220;The Company was very
fortunate to bring on two very talented individuals in Joel and Ronnie who
bring a wealth of knowledge with respect to both the sciences and the
entrepreneurial acumen of running a biotechnology company.&#8221;

<P style="font-size: 10pt" align="justify">For more information regarding
Champions Biotechnology&#8217;s growing business and recent news, please visit
www.championsbiotechnology.com.

<P style="font-size: 10pt" align="justify"><B>About Champions Biotechnology,
Inc.</B> <BR>
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. The Company believes
that these Tumorgrafts closely reflect human cancer biology and their response
to drugs is more predictive of clinical outcomes in cancer patients.

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

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

<P style="font-size: 10pt" align="justify"><I>This press release contains
&#8220;forward-looking statements&#8221; (within the meaning of the Private
Securities Litigation Act of 1995) that inherently involve risk and
uncertainties. Champions Biotechnology generally uses words such as
&#8220;believe,&#8221; &#8220;may,&#8221; &#8220;could,&#8221;
&#8220;will,&#8221; &#8220;intend,&#8221; &#8220;expect,&#8221;
&#8220;anticipate,&#8221; &#8220;plan,&#8221; 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 </I><I>Form
10-K</I><I> for the fiscal year ended April&nbsp;30, 2010 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>

<P style="font-size: 10pt" align="center"><B>CHAMPIONS BIOTECHNOLOGY, INC. WEB
SITE: www.championsbiotechnology.com</B>

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

<P style="display: none; font-size: 10pt" align="center">4
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