<SEC-DOCUMENT>0001144204-12-014602.txt : 20120313
<SEC-HEADER>0001144204-12-014602.hdr.sgml : 20120313
<ACCEPTANCE-DATETIME>20120313161654
ACCESSION NUMBER:		0001144204-12-014602
CONFORMED SUBMISSION TYPE:	10-K/A
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20110430
FILED AS OF DATE:		20120313
DATE AS OF CHANGE:		20120313

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHAMPIONS ONCOLOGY, 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:		10-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17263
		FILM NUMBER:		12687325

	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 BIOTECHNOLOGY, INC.
		DATE OF NAME CHANGE:	20070220

	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>10-K/A
<SEQUENCE>1
<FILENAME>v305716_10ka.htm
<DESCRIPTION>AMENDMENT TO FORM 10-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 3.5pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form 10-K/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 1)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: left">(Mark One)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-family: Wingdings; font-weight: bold">&thorn;</TD>
    <TD STYLE="width: 93%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: left; font-weight: bold">ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: left; font-weight: bold">For the fiscal year ended April 30, 2011</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-weight: bold">or</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-family: Wingdings; font-weight: bold">o</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: left; font-weight: bold">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: left"><B>For the transition period from</B> &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>to</B> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission file number 0-17263</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><I>(Exact name of registrant
as defined in its charter)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-weight: bold">Delaware</TD>
    <TD STYLE="width: 50%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-weight: bold">52-1401755</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-style: italic">State or other jurisdiction of<BR> incorporation or organization</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-style: italic">(I.R.S. Employer<BR>
Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-style: italic">&nbsp;</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; font-weight: bold; text-align: center">One University Plaza, Suite 307</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-weight: bold">07601</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-weight: bold">Hackensack, New Jersey</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-style: italic">(Zip Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Address of principal executive
offices)</I>&nbsp;</P></TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registrant&rsquo;s telephone number,
including area code:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(201) 808-8400</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities registered pursuant to Section
12(g) of the Act:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: windowtext 1pt solid; padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-weight: bold">Title of Each Class</TD>
    <TD STYLE="width: 15%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: windowtext 1pt solid; padding-right: 2.35pt; padding-left: 2.35pt; text-align: center; font-weight: bold">Name of Each Exchange on Which Registered</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center">Common Stock, par value $0.001 per share</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: center">Over-the-Counter Bulletin Board (OTCBB)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">Indicate by check mark
whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes <FONT STYLE="font-family: Wingdings">o</FONT>
No <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">Indicate by check mark
if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes <FONT STYLE="font-family: Wingdings">o</FONT>
No <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">Indicate by check mark
whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. Yes <FONT STYLE="font-family: Wingdings">&thorn;</FONT> No <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">Indicate by check
mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data
File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to file such reports). &nbsp;&nbsp; Yes <FONT STYLE="font-family: Wingdings">&thorn;</FONT>
No <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">Indicate by check mark
if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (&sect;229.405 of this chapter) is not contained herein,
and will not be contained, to the best of registrant&rsquo;s knowledge, in definitive proxy or information statements incorporated
by reference in Part III of this Form 10-K or any amendment to this Form 10-K. <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.
See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo;
in Rule 12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 22%; text-align: left">Large accelerated filer <FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD NOWRAP STYLE="width: 17%; text-align: center">Accelerated filer <FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="width: 38%; text-align: center">Non-accelerated filer <FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD NOWRAP STYLE="width: 23%; text-align: right">Smaller reporting company <FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">(Do not check if a smaller reporting company)</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">Indicate by check mark
whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes <FONT STYLE="font-family: Wingdings">o</FONT>
No <FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">The approximate aggregate
market value of the voting stock held by non-affiliates of the Registrant as of October 31, 2010 was $16,179,907 based on the closing
price of the Registrant&rsquo;s Common Shares as quoted on the OTCBB as of that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">The number of Common
Shares of the Registrant outstanding as of July 15, 2011 was 46,253,436.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DOCUMENTS INCORPORATED BY REFERENCE -
None</B></P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>EXPLANATORY NOTE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of this
amendment to the Annual Report on Form 10-K for the fiscal year ended April 30, 2011 of Champions Oncology, Inc. (the &ldquo;Company&rdquo;)
filed on July 15, 2011 (the &ldquo;Original Filing&rdquo;) is to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Revise Item 1 (Business) to include a discussion of the Company&rsquo;s previously disclosed agreement
with Cephalon, Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Revise Item 15(a)(3) (Exhibits) to include the Agreement dated March 16, 2011 between the Registrant
and Cephalon, Inc..</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as described above, no other amendments
are being made to the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended April 30, 2011. This Form 10-K/A does
not modify or update the disclosures contained in the Annual Report in any way other than as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">As used in this Annual
Report on Form 10-K, &ldquo;Champions Oncology, Inc.,&rdquo; &ldquo;Champions,&rdquo; the &ldquo;Company,&rdquo;, &ldquo;we,&rdquo;
&ldquo;ours,&rdquo; and &ldquo;us&rdquo; refer to Champions Oncology, Inc. and its subsidiaries, except where the context otherwise
requires or as otherwise indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center">DISCLOSURE REGARDING FORWARD-LOOKING
STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">This document contains
&ldquo;forward-looking statements&rdquo; within the meaning of Section 27A of the Securities Act of 1933 (&ldquo;Securities Act&rdquo;)
and Section 21E of the Securities Exchange Act of 1934 (&ldquo;Exchanges Act&rdquo;) that inherently involve risk and uncertainties.
Forward-looking statements may be identified by the words &ldquo;project,&rdquo; &ldquo;believe,&rdquo; &ldquo;anticipate,&rdquo;
&ldquo;plan,&rdquo; &ldquo;expect,&rdquo; &ldquo;estimate,&rdquo; &ldquo;intend,&rdquo; &ldquo;should,&rdquo; &ldquo;would,&rdquo;
&ldquo;could,&rdquo; &ldquo;will,&rdquo; &ldquo;may,&rdquo;,&rdquo; &ldquo;likely&rdquo; or similar expressions. Forward-looking
statements in this Annual Report include statements about our business strategies and product and services development activities,
including the anticipated benefits and risks associated with those strategies as well as statements about the sufficiency of our
capital resources. One should not place undue reliance on these forward-looking statements. We cannot guarantee that we will achieve
the plans, intentions or expectations expressed or implied in our forward-looking statement. There are a number of important factors
that could cause actual results, levels of activity, performance or events to differ materially from those expressed or implied
in the forward-looking statements we make. These important factors are described under &ldquo;Risk Factors&rdquo; set forth below.
In addition, any forward-looking statements we make in this document speak only as of the date of this document, and we do not
intend to update any such forward-looking statements to reflect events or circumstances that occur after that date, except as required
by law. As a result of these and other factors, our stock price may fluctuate dramatically.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 1.<I> Business</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Champions Oncology, Inc.
is engaged in the development of advanced technology solutions to personalize the development and use of oncology drugs. The Company&rsquo;s
Tumorgraft Technology Platform is a novel approach to personalizing cancer care based upon the implantation of human tumors in
immune deficient mice. The Company uses this technology in conjunction with related services to offer solutions for two customer
groups:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.15in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our Personalized Oncology Solutions (&ldquo;POS) business which provides services to physicians
and patients looking for information to help guide the development of a personalized treatment plans.</TD></TR></TABLE>

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<TD STYLE="width: 0.15in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our Translational Oncology Solutions (&ldquo;TOS) business, which provides services to pharmaceutical
and biotech companies seeking personalized approaches to drug development that will lower the cost and increase the speed of developing
new drugs and increasing the adoption of existing drugs.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Tumorgraft Technology Platform</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Our technology platform
consists of processes, physical tumors and information that we use to personalize the development and use of oncology drugs. Our
process technology involves the:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.15in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">implantation of human tumor fragments in immune compromised mice;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.15in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">expansion of the original human tumor into a larger colony of mice through the passage of the tumor
to subsequent generations of mice;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.15in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">treatment of the implanted mice with oncology drugs;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.15in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">measurement of tumor growth inhibition in treated mice relative to a control group of mice to determine
the response of the tumor to the drug.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Our process is used for
our POS business to test numerous drugs or drug combinations against a single patient&rsquo;s tumor to determine which therapy
results in the most efficacious response from the tumor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">The second component
of our technology platform is a bank of tumors that we have collected, processed, validated and stored for use in our TOS business.
We implant these tumors in mice to provide pharmaceutical and biotechnology companies the opportunity to test oncology compounds
on multiple tumors to test efficacy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">The third component of
our technology platform is an extensive database of information about each tumor in our tumorbank. This includes information about
the patient (e.g. age, gender), the response of each tumor to different oncology drugs or drug combinations, mutational status
of key oncogenes and other genetic and epigenetic data about each tumor. We use this database to provide our pharmaceutical and
biotechnology customers with bioinformatic studies to assist them with the drug development process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Personalized Oncology Solutions (&ldquo;POS&rdquo;)
Business</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Our POS business offers
physicians and patients information to help guide the development of a personalized treatment plans. Our core offering utilizes
our technology platform to empirically test the response of a patient&rsquo;s tumor to multiple oncology drugs or drug combinations.
The process begins by implanting a fresh fragment of the customer/patient&rsquo;s tumor, typically received within four to twenty-four
hours of surgery or biopsy, in a small colony of immune compromised mice. This colony is then expanded until a sufficient number
of mice are available for testing. At that point, the colony is allocated to different groups, and each mouse in a group is dosed
with a different drug or drug combination. The response of the tumor in each mouse is tracked over time and analyzed to determine
which drug or drug combination is providing the highest level of tumor growth inhibition. Our data demonstrates that there is high
correlation between the response of the tumor in mice to drugs with the response of the tumor in the customer/patient from whom
the tumor was originated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">In addition to our core
product, we also offer related personalized oncology services to our customers including personalized tumor panels. Personalized
tumor panels are designed to offer our customers/patients access to world renowned oncologists with expertise in particular tumor
types of interest. The physicians on the panel receive an overview of the patient&rsquo;s history of treatment and current status,
typically from the treating physician and advanced molecular and sensitivity testing (which might include our Tumorgraft testing),
and offer insight into possible treatments based on their expertise and the cutting edge information available to them from their
academic institutions and colleagues. These panels can be done in person or over the phone and can include from 3 to more than
15 physicians.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">We rely on the internet,
word of mouth and a small sales force to market these products to patients and physicians.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">For the year ended April
30, 2011, our revenues from POS totaled $3,382,000, a 5% increase from the previous year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Translational Oncology Solutions (&ldquo;TOS&rdquo;)
Business</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Our TOS business utilizes
our technology platform to assist pharmaceutical companies and biotechnology with the drug development process. We provide studies
that predict the efficacy of experimental oncology drugs or approved drugs as stand-alone therapies or in combination with other
drugs. These studies include in vivo studies that rely on implanting multiple tumors from our tumorbank in mice and testing the
therapy of interest on these tumors. Studies may also include bioinformatics analysis that reveal the differences in the genetic
signatures of the tumors that responded to a therapy as compared to the tumors that did not respond. Our studies can be used to
determine which types of cancer, if any, are inhibited by a drug. The studies can also be used to identify specific sub-populations,
often characterized by particular genetic mutations, that are differentially sensitive or resistant to a drug or drug combination.
These studies, used in pre-clinical testing or during phase 1 of a clinical trial, can help guide the clinical development path
of new compounds and find new indications or combinations for compounds that are already approved by the FDA. The results can lead
to lower costs and shorter timeframes for drug development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">On March&nbsp;16, 2011,
the Company entered into an agreement with Cephalon, Inc., (&ldquo;Cephalon&rdquo;), pursuant to which the Company will conduct
Tumorgraft studies on proprietary chemical compounds provided by Cephalon to determine the activity or response of a compound in
potential clinical indications. In April 2011, Cephalon paid an initiation fee of $1,390,000 to the Company. We anticipate that
the studies will be initiated and completed within 12 months. Cephalon will, under certain conditions, also pay the Company various
amounts upon achieving certain milestones. Potential milestone payments under the Agreement total $27&nbsp;million. In addition,
under certain conditions, Cephalon will pay the Company royalties on any commercialized products developed under the Agreement.
These royalties, if any, will be at rates of under 10% of aggregate<B><I> </I></B>net sales over a period of 15 years or the life
of the applicable patent (whichever is less). We are not able to estimate the amount, if any, of milestone and royalty payments
we may receive under this agreement. Cephalon has the option to pay Champions a one-time payment in lieu of future milestone and
royalty payments with respect to one or more of the chemical compounds provided by Cephalon to Champions. The amount of any such
one-time payment is agreed to in advance, and for the two compounds currently under study, such payments are $460,000 and $880,000,
respectively. The agreement will terminate when all payment obligations to the Company have been satisfied, and may be terminated
sooner upon a breach or bankruptcy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Our sales and marketing
efforts are dependent on a dedicated sales force that sells directly to pharmaceutical and biotechnology companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">For the year ended April
30, 2011, our revenues from TOS services totaled $3,500,000, an increase of 107% over 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Operations</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Until recently, we have
relied solely on a single clinical research organization for substantially all of our in vivo studies and tumorbank development.
During the fourth quarter of 2011, we started the process of developing in-house capabilities to supplement the activities of the
clinical research organization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>In-licensed Compounds</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Historically, our strategy
was to use our technology platform to identify promising compounds that could be in-licensed during the preclinical phase. The
strategy was to invest in the clinical development of these compounds and then seek a partner that would bring them to market in
exchange for some combination of upfront payments, milestone payments and royalties on sales. Since 2007, the company pursued this
strategy with four compounds. All four of these compounds were subjected to Tumorgraft testing, and the results of one of the compounds
warranted further investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">During 2011, we changed
our strategy and no longer intend to in-license additional compounds. We have refocused the Company on developing advanced technologies
to personalize the development and use of oncology drugs. We intend to continue the development of the compound which warranted
further investment and we are seeking a partner to finance the future development of the product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Competition</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Our Tumorgraft Technology
Platform is proprietary and requires significant know-how to both initiate and operate, but is not patented. It is, therefore,
possible for competitors to develop other implantation procedures or to discover the same procedures utilized by the Company that
could compete with the Company in its market. Competition our industry is intense and based significantly on scientific, technological
and market forces. These factors include the availability of patent and other protection for technology and products, the ability
to commercialize technological developments and the ability to obtain government approval for testing, manufacturing and marketing.
The Company faces significant competition from other healthcare companies in the United States and abroad. The majority of these
competitors are and will be substantially larger than the Company, and have substantially greater resources and operating histories.
There can be no assurance that developments by other companies will not render our products or technologies obsolete or noncompetitive
or that we will be able to keep pace with the technological or product developments of our competitors. These companies, as well
as academic institutions, governmental agencies and private research organizations also compete with us in recruiting and retaining
highly qualified scientific, technical and professional personnel and consultants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Patent Applications</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">It is our intention to
protect our proprietary property through the filing of United States and international patent applications, both broad and specific,
where necessary and reasonable. In February 2007, we acquired the patent rights to two BPU sulfur analog compounds that have shown
promising potent activity against in vitro and in vivo models of prostate and pancreatic cancer. The acquired rights include pending
United States Patent Application no. 11/673,519 and corresponding international patent application (PCT/US2006/014449) filed under
the Patent Cooperation Treaty (&ldquo;PCT&rdquo;), both entitled Design and Synthesis of Novel Tubulin. We are no longer pursuing
the development of this compound or the international patent application. The patent application was terminated in April 2011.<FONT STYLE="color: black; background-color: white">
</FONT><I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Research and Development</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">For the years ended April
30, 2011 and 2010, we spent approximately $2,951,000 and $2,622,000, respectively, on research and development to develop its Tumorgraft
Technology Platform and complete preclinical trials related to its four drug compounds. The increase from 2010 to 2011 was primarily
related to increased spending on our technology platform and tumorgraft testing on in-licensed compounds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><I>&nbsp;</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Government Regulation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">The research, development
and marketing of products are subject to federal, state, local, or foreign legislation or regulation, including the interpretation
of and compliance with existing, proposed, and future regulatory requirements imposed by the United States Food and Drug Administration
(&ldquo;FDA&rdquo;) and by comparable authorities in other countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Employees</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">As of April 30, 2011,
we had 18 full-time employees, including 7 with doctoral or other advanced degrees. Of our workforce, 6 employees are engaged in
research and development and laboratory operations, 7 are engaged in sales and marketing and 5 are engaged in finance and administration.
None of our employees are represented by a labor union or covered by collective bargaining agreements. We have never experienced
a work stoppage and believe our relationship with our employees is good.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Company History</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Our predecessor was incorporated
under the laws of the State of Delaware on June 4, 1985, as &ldquo;International Group, Inc.&rdquo; In September 1985, we completed
a public offering and shortly thereafter, acquired the world-wide rights to the Champions sports-theme restaurant concept and changed
our name to &ldquo;Champions Sports, Inc.&rdquo; In November 1997, we sold our Champions service mark and concept to Marriott International,
Inc. and until 2005, were a consultant to Marriott International, Inc. and operated one Champions sports bar restaurant. In January
2007, we changed our business direction to focus on biotechnology and subsequently changed our name to Champions Biotechnology,
Inc. In April 2011, we changed our name to Champions Oncology, Inc. to reflect the Company's new strategic focus on developing
advanced technologies to personalize the development and use of oncology drugs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Available Information</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">Our internet website
address is www.championsoncology.com. Through our website, we make available, free of charge, access to all reports filed with
the U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;), including our Annual Reports on Form 10-K, our Quarterly Reports
on Form 10-Q, our Current Reports on Form 8-K, and amendments to those reports, as filed with or furnished to the SEC pursuant
to Section 13(a) or 15(d) of the Exchange Act of 1934, as amended, as soon as reasonably practicable after we electronically file
such material with, or furnish it to, the SEC. Copies of any materials we file with, or furnish to, the SEC can also be obtained
free of charge through the SEC&rsquo;s website at http://www.sec.gov or at the SEC&rsquo;s Public Reference Room at 100 F Street,
N.E., Room 1580, Washington, DC 20549. You may obtain information on the operation of the Public Reference Room by calling the
SEC at 1-800-SEC-0330.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 9pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Item 15.<I> Exhibits, Financial Statement
Schedules</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify"><B>(a)1. Financial Statements</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 94%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; border-bottom: windowtext 1pt solid; text-align: center">Page</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Report of Independent Registered Public Accounting Firm</TD>
    <TD STYLE="text-align: center">F-2</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify">Consolidated Balance Sheets as of April 30, 2011 and 2010</TD>
    <TD STYLE="text-align: center">F-3</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Consolidated Statements of Operations for the Years Ended April 30, 2011 and 2010</TD>
    <TD STYLE="text-align: center">F-4</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify">Consolidated Statements of Stockholders&rsquo; Equity for the Years Ended April 30, 2011 and 2010</TD>
    <TD STYLE="text-align: center">F-5</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Consolidated Statements of Cash Flows for the Years Ended April 30, 2011 and 2010</TD>
    <TD STYLE="text-align: center">F-6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify">Notes to Consolidated Financial Statements</TD>
    <TD STYLE="text-align: center">F-7</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25pt; text-align: justify"><B>(a)2. Financial Statement
Schedules</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All schedules have been omitted because
they are not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(a)3. Exhibits required to be filed
by Item 601 of Regulation S-K.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: windowtext 1pt solid; text-align: justify">Exhibit No.</TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 88%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">3.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amended and Restated Articles of Incorporation (incorporated by reference to Appendix A to the Company&rsquo;s Information Statement on Schedule 14C filed March 7, 2011, File No. 0-17263)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">3.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amended and Restated Bylaws, as amended <FONT STYLE="color: black">incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current Report on Form 8-K filed February 22, 2011</FONT>, File No. 0-17263)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">10.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Employment Agreement dated October 25, 2010 between the Company and Joel Ackerman (incorporated by reference to <FONT STYLE="color: black">Exhibit 10.1 to the Company&rsquo;s Current Report on Form 8-K filed October 29, 2010</FONT>, File No. 0-17263)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">10.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Employment Agreement dated October 25, 2010 between the Company and Ronnie Morris, M.D. (incorporated by reference to <FONT STYLE="color: black">Exhibit 10.2 to the Company&rsquo;s Current Report on Form 8-K filed October 29, 2010</FONT>, File No. 0-17263)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">10.3</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Agreement dated March 16, 2011 between the Registrant and Cephalon, Inc.<FONT STYLE="color: black"> [Portions omitted and filed separately with the Securities and Exchange Commission]</FONT>*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">14</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Code of Ethics (incorporated by reference to Exhibit 14 of the April 30, 2008 Form 10-KSB, File No. 0-17263)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">21</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Subsidiaries of the Registrant</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">31.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Rule 15d-14(a) Certification of Principle Executive Officer*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">31.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Rule 15d-14(a) Certification of of Principal Financial Officer*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-align: justify">32.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Section 1350 Certifications*</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-left: 9pt; text-align: justify">* Filed herewith</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -63pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">In accordance with Section
13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: left">CHAMPIONS ONCOLOGY, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">March 13, 2012</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center">/s/ Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: left">Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: left">Chief Executive Officer (Principal Executive Officer)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<TYPE>EX-10.3
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<FILENAME>v305716_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold">REDACTED</TD>
    <TD STYLE="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold">CONFIDENTIAL</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RESEARCH AND COLLABORATION AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Research and Collaboration Agreement
(&ldquo;Agreement&rdquo;) is effective as of March 16, 2011 (the &ldquo;Effective Date&rdquo;)<B> </B>between Cephalon, Inc.,
a Delaware corporation with offices located at 41 Moores Road, Frazer, Pennsylvania 19355 (&ldquo;Cephalon&rdquo;)<B> </B>and
Champions Biotechnology, Inc., a Delaware corporation with offices located at 855 N. Wolfe Street, Suite 619, Baltimore, Maryland
21205 (&ldquo;Champions&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, Cephalon has expertise in the
research, development and commercialization of pharmaceutical compounds;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, Champions has expertise in modeling
the activity or response of pharmaceuticals compounds in potential clinical indications;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEREAS, Cephalon and Champions wish to
enter into a collaboration (the &ldquo;Research Collaboration&rdquo;) to analyze and assess the potential clinical utility of
certain compounds owned or licensed by Cephalon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOW THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which is hereby agreed, and intending to be legally bound, Cephalon and Champions (each a &ldquo;Party,&rdquo;
if singular, or &ldquo;Parties,&rdquo; if plural), agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE I</B>: <B><U>DEFINITIONS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.1&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Affiliate&rdquo;
</B>means any corporation or other business entity: (i) of which fifty percent (50%) or more of the securities or other ownership
interests representing the equity, the voting stock or general partnership interests are owned, or controlled, directly or indirectly,
by a Party, or (ii) which, directly or indirectly, owns, or controls fifty percent (50%) or more of the securities or other ownership
interests representing the equity, the voting stock or, if applicable, the general partnership interest, of a Party; or (iii)
which otherwise, directly or indirectly, controls, is controlled by, or is under common control with a Party, where, for the purposes
of this Section, the word &ldquo;control&rdquo; means the actual power to direct or cause the direction of the management of the
applicable business entity. For the avoidance of doubt, NewCo (as defined herein) is not an Affiliate of Cephalon for purposes
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Biomarker&rdquo;
</B>means an endogenous characteristic that is objectively measured and evaluated as an indicator of normal biological or pathogenic
processes or pharmacological responses to a therapeutic intervention. For the avoidance of doubt, a Biomarker is not a synthetic
chemical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.3&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Cephalon
IP&rdquo;</B> means all existing Intellectual Property (including without limitation pending and issued patents) owned or Controlled
by Cephalon or its Affiliates<FONT STYLE="color: red; letter-spacing: 0pt"> </FONT>relating to the Compound or Product or the
use of the Compound or Product, as set forth in Schedule <U>1.3</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.4&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Cephalon
Know-How&rdquo; </B>shall mean all know-how, trade secrets, inventions, discoveries, methods, protocols, technical information,
materials (including compounds), formulae, processes, expert opinions, data, and other confidential and proprietary information,
patentable or otherwise, which during the Term are: (a) known by Cephalon or its Affiliates (b) not generally known; and (c) relating
to the Compound or Product and necessary or useful to Champions in the performance of the Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.5&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Cephalon
Program IP&rdquo;</B> means any Intellectual Property arising out of the activities of either Party under this Agreement and relating
solely to Cephalon IP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: blue"><FONT STYLE="text-underline-style: double">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.6&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Champions
IP&rdquo;</B> means all Intellectual Property owned or Controlled by Champions or its Affiliates relating to Champions&rsquo;
Biomerk Tumorgraft&trade; preclinical models.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="text-underline-style: double"><B>1.7</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Champions
Know-How&rdquo; </B>shall mean all know-how, trade secrets, inventions, discoveries, methods, protocols, technical information,
materials (including compounds), formulae, processes, expert opinions, data, and other confidential and proprietary information
(including Program Information<FONT STYLE="text-underline-style: double; color: Black"><U>)</U></FONT>, patentable or otherwise,
which during the Term are: (a) known by Champions or its Affiliates; (b) not generally known; and (c) reasonably necessary or
useful to Cephalon in the performance of Cephalon&rsquo;s obligations under this Agreement or the research, development, manufacture,
marketing, use or sale of Compounds or Products; but excluding Patents owned or Controlled by Champions<FONT STYLE="text-underline-style: double; color: blue"><U>.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: blue"><FONT STYLE="text-underline-style: double">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: blue"><FONT STYLE="text-underline-style: double">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: blue"><FONT STYLE="text-underline-style: double"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: blue">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold">REDACTED</TD>
    <TD STYLE="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold">CONFIDENTIAL</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; color: blue"><FONT STYLE="text-underline-style: double">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.8&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Champions
Program IP&rdquo;</B> means any Intellectual Property arising out of the activities of either Party under this Agreement and relating
solely to Champions IP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.9&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Change
of Control&rdquo; </B>has the meaning specified in Section 11.6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.10&nbsp;
&ldquo;Commercially Reasonable Efforts&rdquo;</B> means, with respect to a Party, the exercise of such efforts and commitment
of such resources by a company with substantially the same resources and expertise as such Party, with due regard to the nature
of efforts and cost required for the undertaking at stake.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.11&nbsp;&nbsp;&ldquo;Compound&rdquo;
</B>means any chemical entity or small molecule compound (or a series thereof) that is provided by Cephalon for evaluation by
Champions under the Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.12&nbsp;&nbsp;&ldquo;Confidential
Information&rdquo;</B> has the meaning specified in Article V.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.13&nbsp;&nbsp;&ldquo;Confidentiality
Agreement&rdquo;</B> has the meaning specified in Article V.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.14&nbsp;&nbsp;&ldquo;Control&rdquo;
</B>means possession by a Party of a license with the right to sublicense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.15&nbsp;&nbsp;&ldquo;FDA&rdquo;
</B>means the U.S. Food and Drug Administration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.16&nbsp;&nbsp;&ldquo;First
Commercial Sale&rdquo; </B>means, with respect to a Product and on a country-by-country basis, the first time that Cephalon or
its Affiliates invoice a third party for the sale of a Product after all required approvals have been granted by the governing
authorities of such country. Sales for clinical studies, compassionate use, named patient programs, sales under a treatment IND,
test marketing, any nonregistrational studies, or any similar instance where the Product is supplied with or without charge shall
not constitute a First Commercial Sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.17&nbsp;&nbsp;&ldquo;IND&rdquo;
</B>means<B> </B>an Investigational New Drug filing with the FDA for the first introduction of a drug into humans, or the equivalent
filing in a country other than the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.18&nbsp;&nbsp;&ldquo;Information&rdquo;
</B>means all information, know-how, trade secrets, inventions, discoveries, methods, protocols, technical information, materials
(including compounds), formulae, processes, expert opinions, and data, including but not limited to all scientific, preclinical,
compound identity, synthetic process, binding activity, gene sequence, protein sequence, clinical, regulatory, manufacturing,
marketing, financial, business plans, or patent information; and other commercial information, confidential information and proprietary
information, whether communicated in writing or orally or by any other method, which is provided by one Party, its Affiliates
or sublicensees to the other Party in connection with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.19&nbsp;&nbsp;&ldquo;Intellectual
Property&rdquo; </B>means (i) inventions, whether or not patentable, whether or not reduced to practice, and whether or not yet
made the subject of a pending patent application or applications, and including invention disclosure records; United States and
foreign patents, multinational statutory invention registrations, patent registrations and patent applications (including all
provisionals, non-provisionals, divisions, continuations, continuations-in-part, substitutions, patents of addition), reissues,
reexaminations, extensions and all rights therein provided by the United States, foreign countries and international treaties
or conventions; and all improvements to the inventions disclosed in each such registration, patent or patent application; and
assign patents (collectively, &ldquo;Patents&rdquo;); (ii) trademarks, service marks, trade dress, logos, trade names and corporate
names, whether or not registered, including all common law rights, and registrations and applications for registrations thereof,
including without limitation, all marks registered in the United States Patent and Trademark Office, the trademark offices of
the states and territories of the United States, and the trademark offices of other nations throughout the world, and all rights
therein provided by the United States, foreign countries and international treaties or conventions (collectively, &ldquo;Marks&rdquo;);
(iii) copyrights (registered or otherwise) in both published and non published works and registrations and applications for registration
thereof, works of authorship, and all rights therein provided by the United States, foreign countries and international treatise
or conventions (collectively, &ldquo;Copyrights&rdquo;); (iv) computer software, including, without limitation, software code
(in any form including course code and executable or object code), subroutines, databases (including biological sequence databases),
data collections, user interfaces, URLs, internet domain names, web sites, operating systems and specifications, documentation
and other materials related thereto; (v) trade secrets and confidential, technical and business information (including inventions
whether patentable or unpatentable and whether or not reduced to practice) (collectively, &ldquo;Trade Secrets&rdquo;); (vi) whether
or not confidential, technology (including knowhow, manufacturing and production processes and techniques, research and development
information, drawings, specifications, designs, plans, proposals, technical data, copyrightable works, financial marketing and
business data, pricing and cost information; (vii) copies and tangible embodiments of all the foregoing, in whatever form or medium;
(viii) all rights to obtain and rights to apply for patents, and to register trademarks and copyrights; and (ix) all rights to
defend and enforce any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.20&nbsp; &ldquo;JDT&rdquo;
</B>means the Joint Development Team described in Section 2.5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.21&nbsp;&nbsp;&ldquo;Joint
Program IP&rdquo;</B> means any Intellectual Property arising out of the activities of the Parties under the Program, including
without limitation, Intellectual Property relating to Biomarkers, but excluding Cephalon Program IP and Champions Program IP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.22&nbsp;&nbsp;&nbsp;&ldquo;Net
Revenues&rdquo;</B> means the gross amount of consideration in any form (including, without limitation, cash, royalties, milestones,
lump sum payments, notes, stock or other equity securities) received by Cephalon or its Affiliates, directly or indirectly, from
a third party for or on account of any sublicenses or other rights granted by Cephalon to such third party with respect to a Product,
excluding the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;payments made by distributors appointed by Cephalon to distribute the Product in
respect of amounts invoiced by Cephalon to such distributors for the sale by Cephalon of such Product to such distributors to
the extent that Cephalon pays royalties to Champions for Net Sales of such Product pursuant to Section 6.2;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; payments received by Cephalon or an
Affiliate for performance of research and development by either Cephalon or such Affiliate to the extent that such payments cover
the actual cost of the research and development work;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;payments made to either Cephalon or
an Affiliate to the extent they cover the actual costs of conducting clinical testing and other activities in connection with
obtaining regulatory approval for a Product; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reimbursed expenses of either Cephalon
or an Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.23&nbsp; &ldquo;Net
Sales&rdquo; </B>means, without duplication, the aggregate amount invoiced on account of sales of a Product by (i) Cephalon or
(ii) any of its Affiliates to a third party (but not including sales between or among Cephalon and its Affiliates where a Product
is intended for resale) <U>minus</U> the following reductions relating to such sales:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(a)<B> &nbsp;&nbsp;&nbsp;</B>trade,
quantity and cash discounts or rebates, which are not already reflected in the amount invoiced;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(b)<B> &nbsp;&nbsp;&nbsp;</B>any
adjustments or allowances on account of price adjustments, billing errors, rejected goods, damaged goods, returns and withdrawal,
recall or relabeling of a Product;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(c)<B> &nbsp;&nbsp;&nbsp;</B>credits,
volume rebates, charge-back and prime vendor rebates, reimbursements or similar payments granted or given to, or related administrative,
processing or other fees charged to, wholesalers and other distributors, buying groups, health care insurance carriers, pharmacy
benefit management companies, health maintenance organizations or other institutions or health care organizations, which are not
already reflected in the amount invoiced;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(d)<B> &nbsp;&nbsp;&nbsp;</B>any
tax (including sales tax and value added taxes (but only to the extent not refunded in accordance with applicable Requirements
of Law), but excluding any tax on income), tariff, customs duty, excise or other duty or other governmental charge levied on the
manufacture, sale, transportation or delivery of a Product and remitted to the applicable taxing authority;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(e)<B> &nbsp;&nbsp;&nbsp;</B>payments
or rebates paid in connection with sales of a Product to any Governmental Body in respect of any state or federal Medicare, Medicaid
or similar programs, or other managed care programs, which are not already reflected in the amount invoiced;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(f)<B> &nbsp;&nbsp;&nbsp;</B>freight,
postage, handling, shipping, insurance or other transportation costs charged to the customer whether invoiced separately or included
within the selling price; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">(g)<B> &nbsp;&nbsp;</B>amounts
allocated for bad debt determined by U.S. generally accepted accounting principles consistently applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this definition of Net
Sales, a Product shall be considered &ldquo;sold&rdquo; and &ldquo;reductions&rdquo; allowed when so recorded in Cephalon&rsquo;s
or its Affiliates (as the case may be) consolidated and consolidating financial statements prepared in accordance with U.S. generally
accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
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</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.24&nbsp;&nbsp; &ldquo;Patents&rdquo;
</B>has the meaning specified in Section 1.19 (Intellectual Property).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.25&nbsp;&nbsp; &ldquo;Phase
2 Study&rdquo;</B> means a human clinical trial in accordance with the requirements of 21 CFR 312.21(b) or its foreign equivalent
outside the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.26&nbsp;&nbsp;&nbsp;&ldquo;Phase
3 Study&rdquo;</B> means a human clinical trial in accordance with the requirements of 21 CFR 312.21(c) or its foreign equivalent
outside the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.27&nbsp;&nbsp;&nbsp;&ldquo;Product</B>&rdquo;
means a preparation containing a Verified Compound having at least one indication for which Success has been predicted by Champions
under the Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.28&nbsp;&nbsp;&nbsp;&ldquo;Program&rdquo;
</B>means the conduct by Champions, on a Compound-by-Compound basis, of a panel of low passage Tumorgraft studies to determine
the activity or response of a Compound in potential clinical indications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.29&nbsp;&nbsp; &ldquo;Program
Information&rdquo; </B>means all data, Information and materials, generated or arising from the work of Champions under the Program
(including by Champions&rsquo; employees, agents, subcontractors, or consultants), including, without limitation, Program Reports,
documentation, drawings, models, designs, data, results, memoranda, tapes, records, hardware, software, formulae, and algorithms,
in hard copy form or in electronic form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.30&nbsp;&nbsp;&nbsp;&ldquo;Program
Report&rdquo;</B> has the meaning specified in Section 2.6(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.31&nbsp;&nbsp;&nbsp;&ldquo;Research
Plan&rdquo;</B> has the meaning specified in Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.32&nbsp;&nbsp;&nbsp;&ldquo;Significant
Activity&rdquo;</B> means any of the following in relation to a Verified Compound or Product:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) significant research
activity related to a Verified Compound or Product or related to biological processes that a Verified Compound or Product would
or could affect, including, but not limited to, animal studies;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) active preclinical
work required for a planned clinical trial, including toxicology or pharmacokinetic work;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) active planning
of a clinical trial (or in the event of issues arising with a regulatory agency in relation to a clinical trial, active negotiation
with the regulatory agency and/or replanning of the clinical trial);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) actively seeking
to obtain the necessary IND or IRB/ethics committee or other approvals to carry out a clinical trial;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) active enrollment
of patients into, or participation of patients in, a clinical trial, where relevant in accordance with the protocol in order to
determine if the primary end point has been met;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) active monitoring,
analysis or reporting on the data arising from a clinical trial where relevant in accordance with the protocol in order to determine
if the primary end point has been met;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g) manufacture or formulation
of a Verified Compound or Product for use in a clinical trial, including active process development work in support of planned
manufacture; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h) preparation for
and making submissions to regulatory agencies for an NDA or awaiting the outcome of such submission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.33&nbsp;&nbsp; &ldquo;Success&rdquo;
</B>means, with respect to a Compound, that such Compound has met the endpoint criteria specified in the Research Plan applicable
to such Compound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.34&nbsp;&nbsp;&nbsp;&ldquo;Term&rdquo;
</B>means the period from the Effective Date until such date when this Agreement is terminated pursuant to Article IX.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.35&nbsp;&nbsp;&nbsp;&ldquo;Territory&rdquo;
</B>means all of the countries in the world, and their territories and possessions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.36&nbsp;&nbsp;&nbsp;&ldquo;Verified
Compound&rdquo; </B>means a Compound having an indication for which Success has been predicted by Champions under the Program,
as determined by the JDT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.37&nbsp;&nbsp;&nbsp;</B>&ldquo;<B>NDA</B>&rdquo;
shall mean a New Drug Application filed with the FDA to obtain marketing approval for a Product in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.38&nbsp;&nbsp;&nbsp;</B>&ldquo;<B>Phase
1 Study</B>&rdquo; means a human clinical trial in accordance with the requirements of 21 CFR 312.21(a) or its foreign equivalent
outside the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE II : PROGRAM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.1</B></TD><TD><B><U>Activities of the Parties. </U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">(1)</FONT><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-size: 10pt"><U>General</U>: Each Party shall cooperate
with the other Party as is necessary for the conduct of the Program by Champions, with the objective of identifying and predicting
Success with respect to each Compound. The Parties shall execute a separate Research Plan for each Compound to be evaluated under
the Program, in accordance with Section 2.2.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21pt; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21pt; text-indent: -0.25in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Activities
of Champions.</U> Champions shall</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt"><FONT STYLE="font-size: 10pt">a.</FONT><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-size: 10pt">use Commercially Reasonable Efforts
to properly and diligently perform its activities pursuant to this Agreement including allocating personnel with sufficient skills
and experience together with sufficient equipment and facilities, to carry out its obligations under this Agreement and to accomplish
the objectives of the Program; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt"><FONT STYLE="font-size: 10pt">b.</FONT><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-size: 10pt">conduct the Program in good scientific
manner consistent with professional research standards, and in compliance in all material respects with all requirements of applicable
laws, rules and regulations, and all other requirements of current good laboratory practices;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt"><FONT STYLE="font-size: 10pt">c.</FONT><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-size: 10pt">carry out only the activity specifically
described in the Research Plan applicable to the Compound; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt"><FONT STYLE="font-size: 10pt">d.</FONT><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-size: 10pt">provide Cephalon with all feedback
in a timely manner on the progress of its efforts under the Program on a Compound-by-Compound basis; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 39pt"><FONT STYLE="font-size: 10pt">e.</FONT><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-size: 10pt">at Cephalon&rsquo;s request from
time to time, use Commercially Reasonable Efforts to assist and advise Cephalon regarding preclinical and translational development,
regulatory and CMC requirements, clinical trial design and clinical development aspects of Cephalon&rsquo;s Product development
programs on a Product-by-Product basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-size: 10pt">(3)</FONT><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-size: 10pt"><U>Activities of Cephalon.</U> Cephalon
shall select the Compounds to be evaluated under the Program in its sole discretion and, subject to Section 3.1, shall provide
Champions the Compound specified in the applicable Research Plan and any applicable Cephalon Know-How associated therewith for
primary human tumor xenograft testing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>2.2</B> <B><U>Research Plan</U>. </B>Prior
to the conduct of the Program with respect to a Compound, the Parties shall execute a research plan for such Compound, the general
form of which is attached hereto as <U>Schedule 2.2</U> and made a part hereof (the &ldquo;Research Plan&rdquo;). The Research
Plan shall specify the details of the Program to be conducted by Champions for the Compound, including without limitation, the
timing of the studies to be conducted, the deliverables to be provided by Champions and the endpoint criteria for the Compound.
Champions shall not conduct any studies or undertake any activity with the Compound except as expressly provided in the Research
Plan. In the event of any conflict between the terms of a Research Plan and this Agreement, the terms of this Agreement shall
control unless otherwise expressly set forth in the Research Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>2.3 <U>License
Grant to Champions for the Program</U></B>. Cephalon hereby grants Champions for the duration of the Term a non-exclusive license,
or sublicense (as applicable), under Cephalon IP<FONT STYLE="text-underline-style: double; color: blue"><U> </U></FONT></FONT>and
<FONT STYLE="font-size: 10pt">Cephalon Know-How for each Compound for the sole purpose of enabling Champions to conduct the Program,
subject to Section 3.1. With the prior written consent of Cephalon, the foregoing license may be sublicensed to Champions Affiliates
or third party sublicensees. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]<B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.4&nbsp; <U>Exchange of Information</U>.
</B>During the Term, Champions shall use Commercially Reasonable Efforts to promptly disclose to Cephalon in writing on an ongoing
basis all Champions Know-How that Champions reasonably determines is necessary for Cephalon&rsquo;s performance of its obligations
under this Agreement. Cephalon shall use Commercially Reasonable Efforts to promptly disclose to Champions in writing all Cephalon
Know-How that Cephalon reasonably determines is necessary for Champions&rsquo; performance of its Program responsibilities. Cephalon
and Champions agree that as to any employees, agents, or independent contractors of Cephalon and Champions presently in their
employ or who are hired or retained by Cephalon or Champions to perform, manage performance of, or participate in the research
done pursuant to this Agreement, Cephalon and Champions will ensure that such employees, agents, consultants, or independent contractors
will promptly disclose and assign to the Party engaging them any and all rights, title and interest in inventions, developments,
or improvements (whether patentable or not) generated or arising from the activities under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.5 <U>Joint Development Team</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) For purposes of managing the Program
and the on-going business relationship between the Parties, the Parties shall establish a<FONT STYLE="text-underline-style: double; color: blue"><U>
</U></FONT>Joint Development Team (&ldquo;JDT&rdquo;), which shall consist of six (6) members, with each Party having the right
to designate three (3) such JDT members. Each Party shall appoint its respective representatives to the JDT from time to time,
and may substitute any of its representatives, in its sole discretion, effective upon notice to the other Party of such change.
Cephalon&rsquo;s representatives may be officers, employees or agents of NewCo or a Cephalon Designee (each as defined below).
Each representative shall have appropriate technical credentials, experience and knowledge and shall maintain ongoing familiarity
with the Program. The JDT members shall meet on a quarterly basis, either in person or by videoconference or teleconference as
the Parties reasonably deem necessary to carry out the functions described in Section 2.5(c). Each Party shall be responsible
for its own expenses with respect to participation in JDT meetings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Each Party is entitled, subject to
advance notice to the other Party and no reasonable objection by the other Party, to invite additional representatives or consultants
to attend JDT meetings, subject to compliance by such representatives with the confidentiality safeguards of Article V and the
exchange of information requirements set forth in Section 2.4.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) The JDT shall perform solely the following
functions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><BR>
(i) develop and agree on the detailed terms of a Research Plan for each Compound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) monitor and assess
the progress of the Program and the Program&rsquo;s research results on a Compound-by-Compound basis;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii) determine in
good faith whether a Compound shall be designated a Verified Compound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv) at Cephalon&rsquo;s
request from time to time, review and discuss preclinical and translational development, regulatory and CMC requirements, clinical
trial design and clinical development aspects of Cephalon&rsquo;s Product development programs on a Product-by-Product basis;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v) oversee the exchange
of Information between the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) Regardless of the number of individual
members of the JDT that may attend any given meeting, each Party shall be entitled to cast one vote on all matters to be determined
by the JDT, and all decisions of the JDT shall be by unanimous consent. If the JDT cannot or does not, after good faith efforts,
reach agreement on a matter, then upon request of either Party, the disputed matter shall be referred to a senior member of each
Party&rsquo;s executive management, who shall promptly meet and endeavor to reach an agreement in a timely manner. If such individuals
cannot reach agreement as to such matter, then either Party may initiate a claim for resolution in court, subject to Section 11.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(e) Cephalon shall provide a quarterly
written report to the JDT detailing the development status of all Verified Compounds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.6 <U>Records and Reports.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)<B> </B>Each Party shall maintain records
in sufficient detail and in good scientific manner appropriate for patent and FDA (or other analogous government entity in the
Territory) purposes and so as to properly reflect all work done and results achieved in the performance of this Agreement (including
all data in substantially the form required under any applicable governmental regulations). In addition, each Party shall keep
or cause to be kept written laboratory notebooks, pre-clinical records (including CMC, toxicology, ADME, pharmacology, and other),
regulatory filings and other records and reports of the progress of its activities in the Program in sufficient detail and in
good scientific manner for all other purposes, reflecting all work done on a Compound and the results achieved thereunder by such
Party. Such records shall be maintained throughout the Term and thereafter for at least five (5) years, or such longer term as
required by applicable laws, rules and regulations. Such records shall include applicable books, records, reports, research notes,
charts, graphs, comments, computations, analyses, recordings, photographs, computer programs and documentation thereof, samples
of materials and other graphic or written data generated in connection with the Program and each Party&rsquo;s activities pursuant
to this Agreement, including any data required to be maintained pursuant to applicable governmental regulations. During the Term
and thereafter, each Party shall respond to reasonable requests from the other for information based on such records.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
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</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) <B> </B>Cephalon shall have the right, during normal business hours and upon reasonable notice to inspect and copy all of
the records of Champions, as referenced in Section 2.6(a). Cephalon shall maintain such records and the information disclosed
therein in confidence in accordance with Article V.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) Upon Cephalon&rsquo;s request, and
subject to the applicable Research Plan, Champions shall prepare and submit reports summarizing the Program Information and work
performed under the Program for each Compound, including without limitation experimental results and raw data (each such report,
a &ldquo;Program Report&rdquo;). In addition, promptly following completion of the Program for each Compound, Champions shall
send a final Program Report to Cephalon. Cephalon, its Affiliates, subsidiaries, collaborators, consultants and agents acting
for the benefit or on behalf of Cephalon shall be entitled to use Program Information for any and all uses. <B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.7 <U>Additional Assistance by Champions</U>.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon completion of a Research Plan with
respect to a Compound, Champions may, in its discretion, conduct additional studies under the Program for such Compound as Cephalon
may request. Cephalon shall reimburse Champions for its reasonable fees, costs and expenses incurred in connection therewith.
All such additional work shall be described in an additional Research Plan signed by the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE III: COMPOUNDS; DEVELOPMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.1 <U>Supply and Use of Compounds</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Cephalon shall supply Champions, at
no charge to Champions, such necessary quantity of the Compound identified in the Research Plan. Cephalon will provide Champions
any pertinent available information with respect to the Compound, including chemical composition, purity, toxicity, and any precautions
that need to be followed in the handling, storing, and shipping of the Compound. Cephalon or its Affiliates shall retain all rights
and title in and to the Compound, subject to the limited right of use granted to Champions under Section 2.3. In addition, the
use of the Compound will be subject to the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) The Compound may
be made available for investigational use in laboratory animals and/or in vitro studies if specified in the Research Plan, but
shall not be used in humans or directly or indirectly for any commercial purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) Champions will
not transfer or distribute the Compound to any third party without the prior written permission of Cephalon. Champions shall take
all reasonable precautions to prevent the destruction, theft or loss of the Compound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii) Champions shall
return any unused Compound to Cephalon immediately following completion of the Program with respect to such Compound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv) The Compound
shall not be derivatized, or cause to be derivatized; nor shall the Compound be analyzed, or cause to be analyzed for structure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v) CHAMPIONS ACKNOWLEDGES
THAT: THE COMPOUNDS ARE EXPERIMENTAL IN NATURE AND MAY HAVE UNKNOWN HAZARDOUS CHARACTERISTICS; CHAMPIONS IS AWARE OF THE RISKS
OF WORKING WITH EXPERIMENTAL MATERIALS; AND CHAMPIONS SHALL STRICTLY ADHERE TO PROPER LABORATORY PROCEDURES FOR HANDLING CHEMICALS
OR BIOLOGICAL SUBSTANCES WITH UNKNOWN HAZARDS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b) Champions acknowledges
that it shall be a material breach of this Agreement to use or modify the Compound for any purpose other than in performance of
the Program under a Research Plan. In no event shall Champions use a Compound or Product to perform studies or other work, including
without limitation, benchmarking data against a compound or pharmaceutical product of a third party, whether or not blinded, without
Cephalon&rsquo;s prior written consent. The provisions of this Section 3.1(b) shall survive the expiration or sooner termination
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE IV: INTELLECTUAL PROPERTY;
DEVELOPMENT; LICENSES; EXCLUSIVITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4.1 <U>Ownership of Intellectual Property</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Champions shall retain all right,
title and interest in and to any and all Champions IP. Cephalon shall retain all right, title and interest in and to any and all
Cephalon IP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Champions Program IP shall be owned
solely by Champions. Cephalon Program IP shall be owned solely by Cephalon. Each Party shall ensure that all individuals working
on Champions Program IP or Cephalon Program IP have assigned to such Party their individual rights to such Champions Program IP
or Cephalon Program IP, respectively. Cephalon shall execute any documents reasonably necessary to assign to Champions Cephalon&rsquo;s
full interest in Champions Program IP. Champions shall execute any documents reasonably necessary to assign to Cephalon Champions&rsquo;
full interest in Cephalon Program IP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) Joint Program IP and Program Information
shall be owned jointly by Cephalon and Champions. Each Party shall promptly disclose in writing to the other Party all Joint Program
IP and provide to the other Party all information known to such Party reasonably relating thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) The provisions of this Section 4.1
shall survive the expiration or sooner termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4.2 <U>Licenses</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the obligations in Section 4.3 (except (i) as provided in Section 4.2(b), (ii)[*] and (iii) upon Cephalon&rsquo;s exercise
of the Option under Section 6.6), Champions hereby grants Cephalon a worldwide exclusive license, with the right to assign or
sublicense, to Champions&rsquo; interest in any and all Joint Program IP and Program Information to allow Cephalon to develop,
market, promote, make, use, sell and import Compounds or Products or for any other purpose. Champions shall sign all necessary
documents or take such other actions as Cephalon may reasonably request in order to perfect and enforce any and all of Cephalon&rsquo;s
license rights in such Joint Program IP and Program Information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sublicenses
and Assignment</U>. The terms of this Section 4.2(b) shall apply only with regard to a Verified Compound for which Cephalon does
not exercise the Option set forth in Section 6.6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) Champions hereby
acknowledges and agrees that Cephalon may enter into one or more contractual arrangements with NewCo (collectively, the &ldquo;NewCo
Transactions&rdquo;) pursuant to which, among other things, (I) Cephalon may transfer, license or assign certain rights relating
to the one or more Verified Compounds to NewCo (or its designee) to enable the conduct by or on behalf of NewCo of one or more
proof of concept clinical studies using such Verified Compounds (the &ldquo;Studies&rdquo;); and, (II) for a specified period
of time in connection with such Studies, Cephalon may either (x) pay NewCo for all rights and obligations relating to the Verified
Compound, including without limitation Cephalon&rsquo;s rights and obligations with respect thereto under this Agreement, or (y)
sublicense or assign to NewCo (or its designee) all of Cephalon&rsquo;s rights and obligations relating to the Verified Compound,
including without limitation Cephalon&rsquo;s rights and obligations with respect thereto under this Agreement (the &ldquo;NewCo
Sublicense&rdquo;). In the event Cephalon does not exercise its option to obtain all rights and obligations relating to the applicable
Verified Compound as contemplated under sub-clause (II)(x) in the preceding sentence (the &ldquo;NewCo Option&rdquo;), Cephalon
shall notify Champions within five (5) business days thereof (the &ldquo;Option Decision Notice&rdquo;), and NewCo shall provide
Champions information about the status of the development of the applicable Verified Compound and, subject to Champions&rsquo;
agreement to any confidentiality obligations, the relevant results and data generated from the applicable Studies. For purposes
hereof, &ldquo;NewCo&rdquo; means a legal entity, the outstanding equity interests of which are owned by Cephalon (or its Affiliate)
and one or more third party investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) Cephalon shall
ensure that if Cephalon does not exercise the NewCo Option, then Champions shall have a right to submit an offer to NewCo regarding
the acquisition by Champions of all rights to the applicable Verified Compound, or other mutually acceptable business relationship,
on terms reasonably acceptable to NewCo in good faith and consistent with pharmaceutical industry standards for small molecule
programs at such stage of development, taking into account NewCo&rsquo;s investment and sunk cost, risk, market potential, net
present value and other commonly accepted metrics. Cephalon shall ensure that the relevant agreements under the NewCo Transactions
to which Cephalon is a party shall obligate NewCo to review and respond in good faith to an offer provided by Champions consistent
this Section 4.2(b)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii) Champions acknowledges
and agrees that in the event Cephalon does not exercise the NewCo Option, then (I) the terms of Sections 2.5(e), 4.3, 6.1, 6.2,
6.3, 6.4 and 6.5 shall automatically be deemed of no further force or effect, (II) neither Cephalon or NewCo shall have any obligations
to Champions under the Sections listed in subparagraph (I) hereof, (III) the licenses granted by Champions to Cephalon pursuant
to Article 4 shall become fully paid-up, royalty-free, worldwide perpetual exclusive licenses, with the right to assign or sublicense,
and (IV) NewCo shall have the right to further sublicense its rights and obligations under the NewCo Sublicense to third parties.
For the avoidance of doubt, except as provided in the foregoing sentence, the NewCo Sublicense shall contain substantially the
same provisions as this Agreement to the extent needed to enable Cephalon to comply with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv) Champions further
acknowledges and agrees that Cephalon, in its sole discretion, may sublicense to one or more third parties other than NewCo (collectively,
&ldquo;Cephalon Designees&rdquo;) any or all rights to a Verified Compound for purposes of such party developing, marketing and/or
selling a Product. Cephalon shall remain responsible for the performance of a Cephalon Designee as if such performance were carried
out by Cephalon itself. Any agreements entered into between Cephalon and a Cephalon Designee (a &ldquo;Designee Agreement&rdquo;)
shall include substantially the same provisions as this Agreement to the extent needed to enable Cephalon to comply with this
Agreement. Within thirty (30) days after execution thereof, Cephalon will provide Champions with either (I) a copy of each Designee
Agreement (and all amendments thereof) or (II) a certification confirming that such Designee Agreement contains substantially
the same provisions as this Agreement to the extent needed to enable Cephalon to comply with this Agreement. Upon termination
of this Agreement, any and all existing Designee Agreements shall survive; provided that such Cephalon Designees promptly agree
in writing to be bound by the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;Cephalon hereby grants Champions a worldwide, non-exclusive, non-assignable license to Cephalon&rsquo;s
interest in any and all Joint Program IP solely to the extent necessary for Champions to use the Champions IP and/or
Champions Program IP in Champions&rsquo; ongoing business activities, subject to the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4.3 <U>Development and Commercialization
of Products.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;With respect to a Verified Compound, Cephalon shall use Commercially Reasonable Efforts to develop a Product,
consistent with usual industry practice to pursue the development of other products representing a similar marketing
opportunity. Cephalon shall be deemed to be in compliance with this Section 4.3(a) for a Verified Compound if Cephalon is
exercising Significant Activity in relation to the Verified Compound or Product, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event there has been no Significant Activity by Cephalon
in relation to a Verified Compound or Product for a period of [*], then:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Champions
shall have the right to give written notice to Cephalon requesting written justification for such lack of Significant Activity,
and Cephalon shall provide such written justification to Champions within [*]of the date of Champions&rsquo; request and shall
recommence such Significant Activity within [*]of the date of Champions&rsquo; request; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
Cephalon fails to provide such justification to Champions or if there has still been no Significant Activity taken by Cephalon
within [*]of the date of Champions&rsquo; request, then, on notice by Champions to Cephalon, Cephalon shall be deemed to have
been given notice to terminate the development and commercialization of the Verified Compound or Product in relation to which
such Significant Activity has not occurred, and Cephalon shall thereafter grant Champions an exclusive license, with the right
to assign or sublicense, to Cephalon&rsquo;s interest in any and all Joint Program IP and Program Information related to such
Verified Compound and any Cephalon IP, Cephalon Know-How and Cephalon Program IP related to such Verified Compound to allow Champions
to develop, market, promote, make, use, sell and import a Product using such Verified Compound. Such license shall be subject
to payment by Champions to Cephalon of the same milestone payments, sales royalties and sublicense royalties as set forth in Sections
6.1(b) and 6.2(a) below. In addition, Champions shall thereafter have the right, during normal business hours and upon reasonable
notice to inspect and copy all of the records of Cephalon with respect to such Verified Compound or Product, as referenced in
Section 2.6(a). Champions shall maintain such records and the information disclosed therein in confidence in accordance with Article
V.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4.4 <U>Program Exclusivity</U>. </B>During
the Term, Champions shall not engage in any collaboration or development activities with respect to any compound or product utilizing
the same targets specified in <U>Schedule 4.4</U> hereto or any Research Plan. Notwithstanding the foregoing, nothing herein shall
prohibit Champions from (a) carrying out fee for service research activities with respect to any third-party compounds or products,
or (b) providing development, collaboration and commercialization services with respect to any third-party compounds or products
(excluding any compound or product utilizing the same targets specified in <U>Schedule 4.3</U> hereto or any Research Plan).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT><B>]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4.5 <U>Exclusion of [*]</U>. </B>Notwithstanding
anything to the contrary in this Agreement, in no event shall the rights and obligations of either Party under Section 4.3 apply
to any Verified Compound or Product resulting from or relating to the Compound identified by Cephalon as[*]&rdquo; if any. [*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE V: <U>CONFIDENTIALITY AND PUBLICATION</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>5.1 <U>Nondisclosure Obligations</U>.
</B>All Information disclosed by one Party to the other under this Agreement (&ldquo;Confidential Information&rdquo;) shall be
subject to the confidentiality obligations set forth in the Mutual Confidentiality Agreement dated November 16, 2009 by and between
the Parties (the &ldquo;Confidentiality Agreement&rdquo;), regardless of (a) whether disclosed prior to or after the Effective
Date and (b) the disclosure period set forth in paragraph 6 of the Confidentiality Agreement. Notwithstanding anything to the
contrary in the Confidentiality Agreement, the terms of the Confidentiality Agreement shall survive the expiration or sooner termination
of this Agreement for a period of ten (10) years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><BR>
<B>5.2 <U>Permitted Disclosure of Information</U>. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Notwithstanding anything to the contrary
contained in Section 5.1 or the Confidentiality Agreement, Cephalon may disclose any Confidential Information of Champions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i) that is required
to be submitted by Cephalon to governmental authorities to facilitate the issuance of any necessary registrations or filings in
connection with conducting clinical trials for the Product, or developing, manufacturing or commercializing the Product, provided
that reasonable methods shall be taken to assure confidential treatment of such information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) to Cephalon&rsquo;s
sublicensees, agents, consultants, Affiliates and/or other third parties to the extent necessary for the research and development,
manufacturing, registration and/or marketing of a Compound or Product (or for such parties to determine their interest in performing
such activities) on the condition that such third parties agree to be bound by the confidentiality obligations no less restrictive
than those set forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) The Parties shall take all reasonable
steps to eliminate the risk of disclosure of Confidential Information, including, without limitation, ensuring that only employees,
agents, consultants and representatives with a need to know the Confidential Information have access thereto. The Parties acknowledge
by the signing of this Agreement that such employees, agents, consultants and representatives shall be bound by substantially
similar obligations of confidentiality as are established under this Article 5 and the Confidentiality Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) In the event that this Agreement is
terminated for breach under the terms of Article 5, nothing herein shall be construed so as to preclude Cephalon from disclosing
to a competent regulatory authority or to a third party under appropriate confidentiality provisions any preclinical or clinical
data, or other Confidential Information, that it may deem necessary or advisable in order to support the further development or
commercialization of a Compound or Product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>5.3 <U>Publication</U>. </B>Cephalon
and Champions each acknowledge the other&rsquo;s interest in publishing results to obtain recognition within the scientific community
and to advance the state of scientific knowledge. Each Party also recognizes the mutual interest in obtaining valid patent protection
and/or data exclusivities and in protecting business interests and trade secret information related to the Program. In the event
Cephalon, its employees, agents or consultants wishes to make a publication, oral presentation or similar disclosure (including,
without limitation, any such disclosures made during collegial discussions, presentations at symposia or professional meetings,
in abstracts or manuscripts submitted for publication, or in patent applications) (collectively, &ldquo;Publication&rdquo;) regarding
Champions Program IP, Cephalon shall deliver to Champions a copy of the proposed Publication in writing or via slide presentation
at least sixty (60) days prior to making such Publication. In the event Champions, its employees, agents or consultants wishes
to make a Publication regarding Cephalon Program IP, Joint Program IP or Program Information, Champions shall deliver to Cephalon
a copy of the proposed Publication in writing or via slide presentation at least sixty (60) days prior to making such Publication.
In any event, the reviewing Party shall have the right to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) propose modifications to the Publication
in order to protect Confidential Information, especially for reasons related to patentable, know-how, trade secret or business
information; and/or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) request a reasonable delay in making
the Publication in order to protect confidential patent, know-how, trade secret or business information. If the reviewing Party
requests a delay, the publishing Party shall delay making such Publication for an additional period of a maximum of one hundred
twenty (120) days to enable patent applications protecting the applicable Party&rsquo;s rights in such information to be filed
in accordance with Article VIII. Upon expiration of such one hundred twenty (120) day period, the publishing Party shall be free
to proceed with the Publication; provided that, if the reviewing Party timely requests modifications to the Publication, the publishing
Party shall edit such Publication to prevent disclosure of confidential patent, know-how, trade secret or business information
prior to final submission of the Publication.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>5.4 <U>Publicity and Press Releases</U>.
</B>Except where and to the extent a Party reasonably determines disclosure is required under applicable governing law or regulation,
no Party shall disclose the existence or terms of this Agreement (other than to its Affiliates), or make any public announcements
or issue any press releases concerning this Agreement or its subject matter without the prior review of and written consent for
such public announcement or press release by the other Party. Each Party will allow the other Party not less than ten (10) business
days (or such lesser reasonable period of time required to meet a Party&rsquo;s legal obligations pursuant to, for example, applicable
securities laws and regulations) to review and comment upon any public announcements or press release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>5.5 <U>Survival of Article V</U>.</B>
All of the Parties&rsquo; rights and obligations under the provisions of this Article V shall survive expiration of the Program
or termination of this Agreement under Article IX for a period of ten (10) years thereafter, or such longer period as any Information
shall be protected under applicable trade secret laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE VI: <U>PAYMENTS; MILESTONES;
ROYALTIES AND REPORTS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>6.1 <U>Up-Front Fee; Milestones</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) In consideration for the licenses granted
hereunder and access to the Program Information, Cephalon will pay Champions an initiation fee in an amount equal to one million
three hundred and ninety thousand Dollars (US $1,390,000) within thirty (30) calendar days of the Effective Date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Except as otherwise provided in Section
6.2(b) and Section 6.6, Cephalon will also pay Champions the following one-time development, regulatory and commercial milestone
payments within thirty (30) calendar days of the first occurrence of each milestone event for each Verified Compound:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 75%; border-collapse: collapse; margin-left: 0.25in">
<TR>
    <TD STYLE="width: 48%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-align: center; font-weight: bold">Milestone&nbsp;Event</TD>
    <TD STYLE="width: 2%; vertical-align: top; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 26%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-align: center; font-weight: bold">Payment&nbsp;(US$)</TD></TR>
<TR>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">[*]</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">[*]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">[*]</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">[*]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">[*]</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">[*]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">[*]</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">[*]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">[*]</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">[*]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">[*]</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">[*]</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cephalon shall notify Champions in writing
within [*]days after the achievement of each milestone described in this Section 6.1(b) and pay Champions the appropriate milestone
payment within [*] days of such notice. [*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>6.2 <U>Royalty Payments</U>. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Except as otherwise provided in Section
6.2(b) and Section 6.6, Cephalon shall pay Champions the following royalties, on a quarterly basis, on worldwide Net Sales of each
Product:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 75%; border-collapse: collapse; margin-left: 0.25in">
<TR>
    <TD STYLE="width: 66%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-align: justify; font-weight: bold">Net&nbsp;Sales&nbsp;&nbsp;</TD>
    <TD STYLE="width: 2%; vertical-align: top; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 30%; vertical-align: bottom; border-bottom: windowtext 1pt solid; text-align: center; font-weight: bold">Royalty&nbsp;Rate</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">If Net Sales of such Product on an aggregate basis are less than [*]</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">[*</TD>
    <TD>]%&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">If Net Sales of such Product on an aggregate basis are [*]</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">[*</TD>
    <TD>]%&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Such Net Sales royalties will be payable
by Cephalon to Champions on a Product-by-Product and country-by-country basis for a period from the date of the First Commercial
Sale of such Product until the earlier of (i) [*]or (ii) expiration of the applicable patents set forth in <U>Schedule 1.3</U>.
Notwithstanding the foregoing, in respect of any country where such a Product is not covered by a patent or there are no statutory
data exclusivity or marketing exclusivity rights that can be enforced to prevent the entry of third party generic competition to
such Product, from the date of entry of such third party generic competition into the marketplace in such country, Cephalon shall
be entitled to reduce the applicable Net Sales royalty rate in such country by [*].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) In the event Cephalon grants a license
or sublicense of any Verified Compound or Product to a third party (other than NewCo and its sublicensees under the NewCo Sublicense),
in lieu of any future royalties and/or milestones accruing to Champions pursuant to Section 6.1(b) and Section 6.2(a), Cephalon
shall pay Champions a royalty of[*], on a quarterly basis, on worldwide Net Revenue of each such Product. Such Net Revenue royalties
will be payable by Cephalon to Champions on a Product-by-Product and country-by-country basis for a period from the date on which
Cephalon first receives Net Revenue from its licensee or third party with respect to such Product until the earlier of: (i) [*]from
the date of Cephalon&rsquo;s first receipt of such Net Revenue; or (ii) if Cephalon had made a First Commercial Sale of such Product,
the earlier of (x) [*] from the date of such First Commercial Sale or (y) expiration of the applicable patents set forth in <U>Schedule
1.3</U>. Notwithstanding the foregoing, in respect of any country where such a Product is not covered by a patent or there are
no statutory data exclusivity or marketing exclusivity rights that can be enforced to prevent the entry of third party generic
competition to such Product, from the date of entry of such third party generic competition into the marketplace in such country,
Cephalon shall be entitled to reduce the applicable Net Revenue royalty rate in such country by [*]. For clarity, the NewCo Sublicense
shall preserve Champions&rsquo; right to receive any future royalties or milestones accruing to Champions pursuant to Section 6.1(b)
and Section 6.2(a), subject to Section 6.6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>6.3 <U>Reports; Payment of Royalty</U>.
</B>Following the First Commercial Sale of a Product, or the date Cephalon first receives Net Revenue with respect to a Product,
as applicable, and during the Term, Cephalon shall furnish to Champions a quarterly written report for the calendar quarter showing
the Net Sales or Net Revenue of all Products subject to royalty payments by Cephalon, during the reporting period and the royalties
payable under this Agreement. Reports shall be due on the [*] day following the close of each calendar quarter. Royalties that
have accrued in a particular quarter shall be due and payable on the date such royalty report is due. Cephalon shall keep complete
and accurate records in sufficient detail to enable the royalties payable hereunder to be determined.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>6.4 <U>Audits</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Upon the written request of Champions
and not more than once in each calendar year, Cephalon shall permit an independent certified public accounting firm of nationally
recognized standing selected by Champions and reasonably acceptable to Cephalon, at Champions&rsquo; expense, to have access during
normal business hours to such of the records of Cephalon as may be reasonably necessary to verify the accuracy of any amounts payable
to Champions hereunder for any calendar year ending not more than [*]months prior to the date of such request. The accounting firm
shall disclose to Champions only the details called for in Section 6.3 and whether the amounts paid are correct or incorrect and
the specific amount of any discrepancies. No other information shall be provided to Champions.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) If such accounting firm identifies
a discrepancy during such period, the appropriate Party shall make payment to correct such discrepancy within [*] days of the date
Champions delivers to Cephalon such accounting firm&rsquo;s written report so concluding. The fees charged by such accounting firm
shall be paid by Champions; provided, that Cephalon shall be responsible for such fees if the accounting firm&rsquo;s report identifies
a discrepancy of [*] or more of the correct amount that should have been paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) Cephalon shall include in each sublicense
granted by it pursuant to this Agreement a provision requiring the sublicensee to make reports to Cephalon, to keep and maintain
records of sales made pursuant to such sublicense and to grant access to such records by Champions&rsquo; independent accountant
to the same extent required of Cephalon under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) Champions and the independent certified
public accounting firm shall treat all information subject to review under this Section under any sublicense agreement in accordance
with the confidentiality and non-use provisions of Article V of this Agreement.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>6.5 <U>Income Tax Withholding</U>. </B>If
laws, rules or regulations require withholding of income taxes or other taxes imposed upon payments set forth in this Article VI,
Cephalon shall make such withholding payments as required and subtract such withholding payments from the payments set forth in
this Article VI. Cephalon shall submit appropriate proof of payment of the withholding taxes to Champions within a reasonable period
of time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>6.6 <U>Option to Pay One-Time Fee</U></B>.
Notwithstanding anything to the contrary herein, unless otherwise expressly stated in a Research Plan, Cephalon shall have the
option (the &ldquo;Option&rdquo;) on a Verified Compound-by-Verified Compound basis to make a one-time payment to Champions in
lieu of any future royalties and/or milestones that would otherwise accrue to Champions pursuant to Section 6.1(b) and Section
6.2(a) for such Verified Compound, subject to this Section 6.6. Cephalon may exercise the Option by providing Champions written
notice at any time during the period commencing on the Effective Date and ending on the date that is [*] from the date the JDT
designates a Compound as a Verified Compound. In the event Cephalon exercises the Option with regard to a Verified Compound, Cephalon
shall pay Champions the one-time fee identified in the Research Plan applicable to such Verified Compound within [*] of the date
Cephalon exercises the Option. Upon such payment by Cephalon to Champions with regard to a Verified Compound, (a) the licenses
granted by Champions to Cephalon pursuant to Article 4 shall be, and hereby are, deemed to be fully paid-up, royalty-free, worldwide
perpetual exclusive licenses, with the right to assign or sublicense, with respect to such Verified Compound; and (b) each Party
shall have no further rights or obligations to the other Party under this Agreement with regard to such Verified Compound other
than those rights and obligations identified in Section 9.3 as surviving the termination or expiration of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE VII : <U>REPRESENTATIONS AND
WARRANTIES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>7.1 <U>Champions Representations and
Warranties</U>. </B>Champions represents and warrants to Cephalon that as of the Effective Date:<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) the Champions IP and Champions Know-How
exist and to the best of Champions&rsquo; knowledge are not invalid or unenforceable, in whole or in part;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) it has the full corporate right, power
and authority to enter into this Agreement, to perform the Program and to grant the licenses granted hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) it is the sole and exclusive owner
of the Champions IP<FONT STYLE="color: red; letter-spacing: 0pt"> </FONT>and Champions Know-How;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(e) there are no claims, judgments or settlements
against or owed by Champions or pending or threatened claims or litigation relating to the Champions IP or Champions Know-How;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(f) to Champions&rsquo; knowledge, neither
(i) the exercise of the licenses granted to Cephalon under the Champions IP and Champions Know-How under Article IV, nor (ii) the
participation in the Program of the Champions personnel or JDT members or Champions&rsquo; obligations with respect to the Program,
infringe on any confidentiality rights or intellectual property rights owned or possessed by any third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EXCEPT AS SET FORTH ABOVE IN THIS SECTION
7.1, CHAMPIONS MAKES NO REPRESENTATIONS OR WARRANTIES AND CHAMPIONS SPECIFICALLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES, INCLUDING
THE WARRANTIES OF MERCHANTABILITY AND OF FITNESS FOR A PARTICULAR PURPOSE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>7.2 <U>Cephalon Representations and
Warranties</U>. </B>Cephalon represents and warrants to Champions that as of the Effective Date:<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) the Cephalon Know-How and Cephalon
IP exist and to the best of Cephalon&rsquo;s knowledge are not invalid or unenforceable, in whole or in part;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) it has the full corporate right, power
and authority to enter into this Agreement, to perform the Program and to grant the licenses and sublicenses granted hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) to Cephalon&rsquo;s knowledge, neither
(i) the exercise of the licenses or sublicenses granted to Champions under the Cephalon IP and Cephalon Know-How under Section
2.3, nor (ii) the participation in the Program of the Cephalon members of the JDT infringe on any confidentiality rights or intellectual
property rights owned or possessed by any third party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) it is the sole and exclusive owner
or valid licensee of the Cephalon Know-How and Cephalon IP; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(g) there are no claims, judgments or settlements
against or owed by Cephalon or pending or threatened claims or litigation relating to the Cephalon IP or Cephalon Know-How.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EXCEPT AS SET FORTH ABOVE IN THIS SECTION
7.2, CEPHALON MAKES NO REPRESENTATIONS OR WARRANTIES AND CEPHALON SPECIFICALLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES, INCLUDING
THE WARRANTIES OF MERCHANTABILITY AND OF FITNESS FOR A PARTICULAR PURPOSE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE VIII : <U>PATENT MATTERS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>8.1 <U>Filing, Prosecution and Maintenance
of Patents</U>. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Cephalon shall at its own expense and
as it determines in its sole discretion appropriate to prepare, file, prosecute and maintain in the Territory, Patents relating
to Cephalon IP and Cephalon Program IP (collectively, &ldquo;Cephalon Patents&rdquo;), and upon appropriate consultation with Champions,
Patents relating to Joint Program IP (collectively, &ldquo;Program Patents&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Champions shall at its own expense
and as it determines appropriate to prepare, file, prosecute and maintain in the Territory, Patents relating to Champions IP and
Champions Program IP (collectively, &ldquo;Champions Patents&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) Each Party shall be responsible for
its internal and external costs and expenses, including patent office fees and fees of the private law firm or agents used to prepare,
file, prosecute and maintain Patents. For clarity, if any Patent(s) are assigned to a Party hereunder, the assignee Party shall
be responsible for all ongoing costs and expenses relating to such Patent(s) as of the date of assignment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) With respect to all Program Patents
filed in accordance with this Article VIII, Cephalon shall give Champions an opportunity to review the text of the application
and an opportunity to request amendments to the text of the application prior to filing. With respect to all Program Patents filed
in accordance with this Article VIII, upon written request by Champions, Cephalon shall supply Champions with a copy of the application
as filed, together with notice of its filing date and serial number.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(e) With respect to all Program Patents
filed in accordance with this Article VIII, Cephalon shall keep Champions advised of the status of the actual and prospective Patent
filings. Cephalon shall take any comments or requests of Champions related to the filing, prosecution and maintenance of such Patents
into good faith consideration so long as such comments or requests are provided in writing and received by Cephalon reasonably
prior to the time at which Cephalon expects to take action with respect to any such Patent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(f) With respect to each Patent filed in
accordance with this Article VIII, each Party shall reasonably cooperate and shall cause its employees to reasonably cooperate,
upon request, in promptly executing any and all<FONT STYLE="color: red; letter-spacing: 0pt"> </FONT>patent applications, or other
instruments necessary or useful by either or both Parties in connection with the application, in the filing, prosecution, or maintenance
of such Patents in the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>8.2</B> <B><U>Option to Prosecute and
Maintain Patents</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) During the Term and for as long as
a Party has any rights in a Program Patent pursuant to Section 8.1, Cephalon shall give timely notice to Champions of any decision
not to file patent applications for Program Patents pursuant to Section 8.1 or to abandon its rights in the prosecution and or
maintenance of any Program Patents pursuant to Section 8.1 on a country-by-country basis in the Territory and, in such case, shall
permit Champions, at its sole discretion and expense, to elect to assume responsibility for filing or continuing prosecution or
maintenance of the patent applications and/or Program Patents to be abandoned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) If Champions elects to continue prosecution
or maintenance, or to file in any country in the Territory based on Cephalon&rsquo;s election not to file pursuant to Section 8.2(a),
Cephalon shall execute such documents and perform such acts at its expense as may be reasonably necessary to effect an assignment
of such Program Patents to Champions in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>8.3 <U>Interference, Opposition, Reexamination
and Reissue</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Each Party, within ten (10) days of
learning of such event, shall inform the other Party of any request for, or filing or declaration of, any interference, opposition,
or reexamination relating to Program Patents. Cephalon shall be the lead Party on such Program Patents. Cephalon and Champions
thereafter shall consult and reasonably cooperate to determine a course of action with respect to any such proceedings. Champions
shall have the right to review and consult with Cephalon regarding any submission to be made in connection with such proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) In connection with any such interference,
opposition, reissue, or reexamination proceeding, Cephalon and Champions will reasonably cooperate and will provide each other
with any information or assistance that either reasonably requests. Each Party shall keep the other Party informed of developments
in any such action or proceeding, including, to the extent permissible by law, consultation and approval of any settlement; however,
no settlement may be entered into by either Party without written consent of the other Party if such settlement would materially
affect the other Party&rsquo;s interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) Each Party shall bear its own expenses
for any such interference, opposition, reexamination, or reissue proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>8.4 <U>Enforcement and Defense</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) If either Party learns of (i) any infringement
of Champions Patents, Cephalon Patents or Program Patents, or (ii) any misappropriation or misuse of Champions Know-How or Cephalon
Know-How, such Party shall promptly notify the other Party of all relevant facts and circumstances pertaining to such infringement,
misappropriation or misuse. Cephalon and Champions thereafter shall consult and reasonably cooperate to determine a course of action
including, without limitation, the commencement of legal action by either or both of Cephalon and Champions, to terminate any infringement
of such Patent rights or any misappropriation or misuse of Champions Know-How or Cephalon Know-How. However, Champions, upon notice
to Cephalon, shall have the first right to initiate and prosecute such legal action at its own expense and in the name of Champions
(and, if appropriate, Cephalon), or to control the defense of any declaratory judgment action relating to Champions Patents or
Champions Know-How. Champions promptly shall inform Cephalon if it elects not to exercise such first right; if such infringement
or misuse materially adversely affects Cephalon&rsquo;s interests under this Agreement, Cephalon thereafter shall have the right
either to initiate and prosecute such action or to control the defense of such declaratory judgment action in the name of Cephalon
and, if necessary, Champions. Each Party shall be entitled to be represented by counsel of its own choice. Cephalon shall have
the first right to initiate and prosecute such legal actions for Cephalon Patents and Program Patents at its own expense. Each
Party will reasonably cooperate with each other Party and will provide each other with any information or assistance that either
reasonably requests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) If Champions elects not to initiate
and prosecute an action as provided in Section 8.4(a), and Cephalon elects to do so, the cost of any agreed upon course of action
to terminate infringement of Patents or misappropriation or misuse of Know-How, including the costs of any legal action commenced
or the defense of any declaratory judgment, shall be borne by Cephalon and Champions on a pro rata basis taking into consideration
the relative economic losses suffered by each Party. Such pro rata basis shall be determined by the Parties through good faith
negotiations at the initiation of the action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) For any action to terminate any infringement
of Patents or any misappropriation or misuse of Know-How, if either Party is unable to initiate or prosecute such action solely
in its own name, the other Party will join such action voluntarily and will execute all documents necessary to initiate litigation
to prosecute and maintain such action. In connection with any such action, Cephalon and Champions will reasonably cooperate and
will provide each other with any information or assistance that either reasonably requests. Each Party shall keep the other informed
of developments in any such action or proceeding, including, to the extent permissible by law, the consultation and approval of
any offer related thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) For any action under Section 8.4(a)-(c)
for which the Parties are sharing expenses, the Party that is contributing the greatest monetary amount shall control the action,
but shall continue to consult with the other Party on all major strategy decisions. If the Parties are contributing equally, Cephalon
shall control the action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>8.5 <U>Defense and Settlement of Third
Party Claims</U>.</B> If a third party asserts that a patent, trademark or other intellectual property owned by it is infringed
by the manufacture, use or sale of any Compound or Product in the Territory, Cephalon will be solely responsible for defending
against and resolving any such assertion at its cost and expense. During the period in which such litigation is pending, Cephalon
shall have the right to deduct such litigation expenses from the amount of any milestones that become payable to Champions during
such period for, or royalties due Champions on Net Sales of, the Compound or Product charged to infringe up to an amount which
is the lesser of [*] of the applicable amounts payable to Champions regarding the allegedly infringing Compound or Product charged
to infringe or[*]s. If, as a result of judgment in the litigation or settlement with the third party, Cephalon is required to pay
royalties or other moneys to such third party, Cephalon may thereafter deduct from the amount of milestones payable or royalties
due Champions on Net Sales of the Product charged to infringe, an amount which is the lesser of [*] of all sums actually paid by
Cephalon to such third party or[*] of all amounts otherwise payable to Champions regarding such Product calculated using an average
royalty rate. Notwithstanding anything herein to the contrary, in no event shall the aggregate amount of such deduction under this
Section 8.5 exceed[*] of the amounts otherwise due to Champions if such third party assertion had not been made.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 0in"><B>ARTICLE IX : <U>TERM
AND TERMINATION<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>9.1 <U>Term and Expiration</U>. </B>This
Agreement shall be effective as of the Effective Date and shall continue in effect on a Compound-by-Compound basis until the earlier
of (i) the expiration of the royalty obligations under this Agreement, if any, applicable to a Verified Compound or (ii) Cephalon&rsquo;s
exercise of the Option applicable to a Verified Compound in accordance with Section 6.6; unless earlier terminated under Section
9.2. Upon expiration of this Agreement as set forth in the foregoing sentence, the licenses granted by Champions to Cephalon pursuant
to Article 4 shall become fully paid-up, royalty-free, worldwide perpetual exclusive licenses, with the right to assign or sublicense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>9.2 <U>Termination</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>9.2.1 <U>Termination for Cause</U>.
</B>This Agreement may be terminated with respect to a Compound by written notice at any time by either Party if the other Party
is in breach of its material obligations under this Agreement regarding such Compound and has not cured such breach (to the extent
capable of being cured) within [*] after receipt of a letter requesting such cure; <I><U>provided</U></I>, <I><U>however</U></I>,
that in the event of a good faith dispute with respect to the existence of a material breach, the [*] cure period shall be extended
until such time as the dispute is resolved pursuant to Section 11.12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>9.2.2 <U>Effect of Termination for Cause</U></B>.
If Champions terminates this Agreement under Section 9.2.1 with respect to a Compound (subject to resolution of any good faith
dispute with respect to such termination pursuant to Section 11.12), Cephalon&rsquo;s licenses pursuant to Article 4 shall terminate
as of such termination date with respect to such Compound. If Cephalon terminates this Agreement under Section 9.2.1 with respect
to a Compound (subject to resolution of any good faith dispute with respect to such termination pursuant to Section 11.12), Champions&rsquo;
licenses pursuant to this Agreement shall terminate as of such termination date with respect to such Compound, and Cephalon&rsquo;s
licenses pursuant to Article 4 shall become fully paid-up, royalty-free, worldwide perpetual exclusive licenses, with the right
to assign or sublicense, with respect to such Compound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>9.2.3 <U>Termination due to Insolvency
or Bankruptcy</U>. </B>In the event of insolvency or bankruptcy of either Party or appointment of a trustee or receiver for either
Party, it shall immediately notify the other Party to that effect. In any event, the Party so notified shall have the right to
terminate this Agreement at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>9.3 <U>Effect of Expiration or Termination</U>.
</B>Expiration of the Term under Section 9.1 or termination of this Agreement under Section 9.2 shall not relieve the Parties of
any obligation accruing prior to such expiration or termination, including the obligation, if applicable, to pay milestones or
royalties for Product(s) sold prior to such termination or that are due under this Agreement after such termination. All of Sections
2.6, 3.1(b), 4.1, 4.2(a) (except if Champions terminates this Agreement under Section 9.2.1), 4.5, 6.6 and 9.3, the last sentence
of each of Sections 2.4, 9.1 and 9.2.2 and all<FONT STYLE="color: black"> of Articles I, V, VIII, X and XI shall survive the termination
or expiration of this Agreement.</FONT> Any expiration or early termination of this Agreement shall be without prejudice to the
rights of either Party against the other accrued or accruing under this Agreement prior to termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE X: <U>INDEMNIFICATION; LIABILITY;
INSURANCE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>10.1 <U>Champions Indemnities</U>.</B>
Cephalon shall indemnify and hold Champions, its Affiliates, and the officers, directors and employees of each of them (the &ldquo;Champions
Indemnities&rdquo;) harmless from any and all liability, loss, damages, costs or expenses (including reasonable attorney&rsquo;s
fees) stemming from third party claims or actions (or the threat thereof) that are based upon (i) the breach of any covenant, representation
or warranty of Cephalon contained in this Agreement; (ii) the manufacture, use, marketing, promotion, sale or distribution by Cephalon
(or any Affiliate, assignee or sublicensee thereof) of any Products; or (iii) the negligence or willful misconduct of Cephalon.
Notwithstanding anything to the contrary herein, Cephalon shall have no obligation to so indemnify the Champions Indemnities to
the extent that such losses, liabilities, obligations, claims, fees or expenses are subject to Champions&rsquo; indemnification
obligations pursuant to Section 10.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>10.2</B> <B><U>Cephalon Indemnities</U>.</B>
Champions shall indemnify and hold Cephalon, its Affiliates, and the officers, directors and employees of each of them (the &ldquo;Cephalon
Indemnities&rdquo;) harmless from any and all liability, loss, damages, costs or expenses (including reasonable attorney&rsquo;s
fees) stemming from third party claims or actions (or the threat thereof) that are based upon (i) the breach of any covenant, representation
or warranty of Champions contained in this Agreement; (ii) claims that the Champions Know-How or the use of the Champions Know-How
by Cephalon infringes the intellectual property rights of a third party; or (iii) the negligence or willful misconduct of Champions.
Notwithstanding anything to the contrary herein, Champions shall have no obligation to so indemnify the Cephalon Indemnities to
the extent that such losses, liabilities, obligations, claims, fees or expenses are subject to Cephalon&rsquo;s indemnification
obligations pursuant to Section 10.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>10.3</B> <B><U>Indemnification Procedures</U>.</B>
In the event that one Party receives notice of a claim, lawsuit, or liability for which it is entitled to indemnification by the
other Party, the Party receiving notice shall give prompt notification to the indemnifying Party. The Party being indemnified shall
reasonably cooperate with the indemnifying Party throughout the pendency of the claim, lawsuit or liability, and the indemnifying
Party shall have complete control over the conduct and disposition of the claim, lawsuit, or liability, except that indemnifying
Party shall have no obligation to provide indemnity with respect to any amounts paid in settlement of any claims if such settlement
is effected without the prior written consent of the indemnifying Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>10.4</B> <B><U>LIMITATION OF LIABILITY.</U></B>
NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY OF SUCH OTHER PARTY&rsquo;S LOST PROFITS, CONSEQUENTIAL DAMAGES, INCIDENTAL,
INDIRECT, SPECIAL, OR OTHER SIMILAR DAMAGES ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ARTICLE XI:</B> <B><U>ADDITIONAL TERMS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.1 <U>No Payments to Healthcare Providers.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) In connection with the Program, Champions
represents that it will not provide any payment, meal, gift, reimbursement of expenses, or any other thing of value (hereinafter
&ldquo;Payments&rdquo;) to a Healthcare Provider on behalf of Cephalon. For the purposes hereof, &ldquo;Healthcare Provider&rdquo;
means any individual who is licensed to prescribe prescription medication or who can otherwise treat or assist in the treatment
of patients, including but not limited to, physicians, physician assistants, nurse practitioners, nurses, pharmacists, pharmacy
directors, counselors, social workers, medical directors for health plans, health plan administrators, office staff, medical residents,
medical students, interns, fellows, as well as institutions affiliated with such individuals, including but not limited to hospitals,
clinics, pharmacies and health plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Champions acknowledges that Cephalon
conducts its relationships with Healthcare Providers in compliance with applicable laws and regulations (including, without limitation,
the U.S. Anti-Kickback Statute, 42 U.S.C. &sect;1320a-7(b)), and the PhRMA Code on Interactions with Healthcare Professionals (the
&ldquo;PhRMA Code&rdquo;) promulgated by the Pharmaceutical Research and Manufacturers of America. Champions shall conduct its
relationships with Healthcare Providers, if any, in accordance with all applicable laws and the PhRMA Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) Champions shall not engage the services
of Healthcare Providers in connection with this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.2</B> <B><U> Compliance with Laws.</U></B>
Cephalon and Champions shall comply with all applicable federal, state and local laws and regulations in performance of their respective
obligations pursuant to this Agreement, including, without limitation and as applicable, laws and regulations related to promotion
of pharmaceutical products, fraud and abuse, insider trading, privacy, discrimination, confidentiality, false claims, and prohibition
of kickbacks. Without limiting the generality of the foregoing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Champions and Cephalon shall comply
with all applicable federal, state and local laws and regulations relating to the privacy of patient health information, including,
but not limited to, the Standards for Individually Identifiable Health Information, 42 C.F.R. &sect;&sect;160 and 164 (the &ldquo;HIPAA
Privacy Regulation&rdquo;) promulgated pursuant to the Health Insurance Portability and Accountability Act of 1996;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Champions acknowledges that Cephalon
is subject to legal and regulatory restrictions concerning the dissemination, distribution or use of materials related to pharmaceutical
products. Accordingly, Champions shall not disseminate, distribute or use any materials prepared in the course of the Program without
the prior express, written permission of Cephalon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) Champions acknowledges that Cephalon
is required to comply fully and promptly with all regulatory safety reporting requirements regarding its products. In accordance
with Cephalon policies and procedures, Champions agrees that if directly arising out of the Program it receives information relating
to adverse events (AE), product complaints (PC), and/or other Cephalon product-related safety information (e.g. special safety
topics as communicated to Champions through separate correspondence), Champions will promptly notify Cephalon as follows: all AE
and PC information received by Champions must be reported by Champions within one business day by telephone to Cephalon Medical
Program (800-896-5855) or by email (usmedinfo@cephalon.com). If AE/PC information is received by Champions on a non-business day
or after regular business hours of a business day, then Champions must transmit the information by the end of the next business
day. However, if more than 3 non-business days occur in a row, it is the responsibility of Champions to transmit the information
by the end of day three. Notwithstanding the foregoing, the time period, criteria and method for reporting AE/PC information, including
any special safety topics, may be modified by Cephalon in separate correspondence. Champions will ensure that the personnel assigned
to perform the Program are sufficiently trained to comply with the requirements of this paragraph. If Cephalon determines that
Champions personnel require additional training, then Cephalon will provide training to Champions personnel to enable Champions
personnel to comply with the requirements of this paragraph. Champions agrees to follow the direction given in such training.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) Champions acknowledges that during
the performance of this Agreement it may come into possession of certain material information about Cephalon or its Affiliates
that has not yet been disclosed to the public. Champions agrees to comply with the rules and regulations of the United States Securities
and Exchange Commission, including those relating to insider trading in connection with such material, non-public, information
about Cephalon or its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.3 </B> <B><U>Protection of Personal
Data.</U></B> In performing the Program, Champions will not: (a) knowingly receive from Cephalon any information that identifies
or describes a natural person from the European Union (&ldquo;EU Personal Data&rdquo;); or (b) collect, use, transfer, alter disclose
or otherwise process EU Personal Data on behalf of Cephalon. If Champions receives EU Personal Data by accident or otherwise, Champions
will promptly deliver all copies of such data to Cephalon but will not otherwise process the data.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.4 <U>Force Majeure</U>. </B>Neither
Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for
failure or delay in fulfilling or performing any term of this Agreement when such failure or delay is caused by or results from
causes beyond the reasonable control of the affected Party including, but not limited to, fire, floods, mudslides, earthquakes,
embargoes, war, acts of war (whether war be declared or not), insurrections, riots, civil commotions, strikes, lockouts or other
labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority or the other Party. The affected
Party shall notify the other Party of such force majeure circumstances as soon as reasonably practical. If a force majeure event
exists for a period of not less than six (6) months, then either Party shall have the right to terminate this Agreement upon written
notice to the other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.5 <U>Excused Performance</U>. </B>The
obligation of Cephalon with respect to any Compound or Product under this Agreement is expressly conditioned upon the continuing
absence of any adverse condition or event relating to the safety or efficacy of the Product. The obligation of Cephalon, if any,
to develop or market any Compound or Product shall be delayed or suspended so long as in Cephalon&rsquo;s opinion any such condition
or event exists. All judgments as to safety and efficacy shall be made by Cephalon in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.6 <U>Change of Control</U>. </B>In
the event of a Change of Control of Champions prior to the Initiation of a Phase 3 study for a Product being developed by Cephalon,
this Agreement shall terminate unless Cephalon has provided written consent thereto, said consent not to be unreasonably withheld.
<FONT STYLE="color: black">For this purpose, &ldquo;Change of Control&rdquo; means the occurrence of any one of the following:
(a) the acquisition by any entity of the securities or ownership interests of Champions so that such entity holds or controls fifty
percent (50%) or more of the securities or ownership interests of Champions then outstanding or otherwise acquires the power to
elect or appoint more than fifty percent (50%) of the members of the Board of Directors of Champions, or (b) the merger or similar
combination between Champions and any other parties or group of parties after which fifty percent (50%) or more of the voting stock
of the surviving corporation is held or controlled by an entity or entities other than Champions, or (c) any merger or similar
combination in which Champions is not the surviving corporation, or (d) the sale of all or substantially all of Champions&rsquo;
assets or business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.7<U> Binding Effect; Assignment</U>.
</B>This Agreement shall inure to the benefit of and be binding upon each Party and its successors and permitted assigns. Neither
Party shall, directly or indirectly, assign this Agreement or any of its rights or obligations under this Agreement without the
prior written consent of the other Party, which shall not be unreasonably withheld. Notwithstanding the foregoing, Cephalon, in
its sole discretion, may assign this Agreement on a Compound-by-Compound basis to an Affiliate or NewCo. Any attempted or purported
assignment in violation of this Section 11.6 shall be void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.8 <U>Severability</U>. </B>If one
or more of the provisions contained in this Agreement are held invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions shall not be affected or impaired, unless the absence of the invalidated
provision(s) adversely affects the substantive rights of the Parties. The Parties shall in such case use their best efforts to
replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical,
implement the purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.9 <U>Use of Names</U>. </B>Neither
Party may use the names of the other Party or those of its Affiliates, sublicensees, employees, agents or consultants or any of
their trademarks, names, or symbols without the prior written consent of the other Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.10 <U>Notices</U>. </B>All notices
or other communications which are required or permitted hereunder shall be in writing and sufficient if delivered personally, sent
by telecopier (and promptly confirmed by personal delivery, registered or certified mail or overnight courier), sent by nationally
recognized overnight courier or sent by registered or certified mail, postage prepaid, return receipt requested, addressed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 27%; text-align: justify; font-weight: bold">if to Champions:</TD>
    <TD STYLE="width: 3%; vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 70%; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify">at the address set out for Champions on page 1,</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0.65in"><B>Attn:</B> </TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify; font-weight: bold">Facsimile No.:</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.75in; text-align: justify">with copy to:</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify">Legal Representation:</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify; font-weight: bold">Facsimile No:</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: justify; font-weight: bold">if to Cephalon:</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify">Cephalon, Inc.</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in">41 Moores Road</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify">Frazer, PA&nbsp; 19355</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify">USA</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify"><B>Attn:</B> Executive Vice President, R&amp;D</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify; font-weight: bold">Facsimile No:</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.75in; text-align: justify">with copy to:</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify">General Counsel</TD></TR>
<TR>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 0.75in; text-align: justify; font-weight: bold">Facsimile No:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">or to such other address as the Party to
whom notice is to be given may have furnished to the other Party in writing in accordance herewith. Any such communication shall
be deemed to have been given when delivered if personally delivered or sent by telecopier on a business day, on the business day
after dispatch if sent by nationally recognized overnight courier and on the third business day following the date of mailing if
sent by mail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.11 <U>Applicable Law; Consent to
Jurisdiction and Venue.</U> </B>This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware,
and the patent laws of the United States, without reference to any rules of conflict of laws that would require the application
of the laws of a different jurisdiction. Any claims or litigation commenced hereunder must be commenced in and jurisdiction and
venue shall be had in the United States District Court for the Southern District of New York.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.12 <U>Dispute Resolution</U>. </B>The
Parties shall negotiate in good faith and use reasonable efforts to settle any dispute, controversy or claim arising from or related
to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.13 <U>Entire Agreement</U>. </B>This
Agreement and the Confidentiality Agreements contain the entire understanding of the Parties with respect to the subject matter
hereof. All other express or implied agreements and understandings, either oral or written, heretofore made specifically relating
to the subject matter hereof, including without limitation the Letter Agreement, are expressly superseded. This Agreement may be
amended, or any term hereof modified, only by a written instrument duly executed by both Parties.<BR STYLE="mso-special-character: line-break">
<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.14 <U>Headings</U>. </B>The captions
to the Articles, Sections and Subsections of this Agreement are not a part of the Agreement, but are merely guides or labels to
assist in locating and reading the Articles, Sections and Subsections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.15 <U>Independent Contractors</U>.
</B>Champions and Cephalon shall be independent contractors and the relationship between them shall not constitute a partnership,
joint venture or agency. Neither Party shall have the authority to make any statements, representations or commitments of any kind,
or to take any action, which shall be binding on the other, without the prior written consent of the other Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
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</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.16 <U>Waiver</U>. </B>The waiver
by a Party of any right under this Agreement or of the other Party&rsquo;s failure to perform or breach shall not be a waiver of
any other right, failure or breach whether of a similar nature or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.17 <U>Counterparts</U>. </B>This
Agreement may be executed in two or more counterparts and exchanged via PDF or facsimile, each of which counterparts shall be deemed
an original, but all of which together shall constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>11.18 <U>No Other Licenses</U>. </B>Only
the licenses granted under the express terms of this Agreement shall be of any legal force or effect. No other license grants shall
be created by implication, estoppel or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[THE REMAINDER OF THIS PAGE INTENTIONALLY
LEFT BLANK.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF,<B> </B>the parties
have executed this Agreement as of its Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify; font-weight: bold">CEPHALON, INC.</TD>
    <TD COLSPAN="4" STYLE="text-align: justify; font-weight: bold">CHAMPIONS BIOTECHNOLOGY, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="width: 44%; text-align: center; border-bottom: Black 1pt solid">/s/</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="width: 43%; text-align: center; border-bottom: Black 1pt solid">/s/</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Name:</TD>
    <TD STYLE="text-align: justify">Jeffry L. Vaught, Ph.D.</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Name:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="text-align: justify">Executive Vice President, R&amp;D</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Date:</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Date:</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 1.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>List of Patents (Compound-by-Compound)<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 2.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Research Plan for [*]</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Project Overview</U>:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Champions will conduct a panel of low passage
Tumorgraft&trade; studies to determine the activity of [*]followed by bioinformatic analyses to determine signatures of response
and clinical paths for this compound. An overview of the approach is delineated below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>[*]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Proposal to Evaluate [*] in Biomerk
Tumorgrafts</U></B><U>&trade;</U><B>:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Champions will conduct a panel of low passage
Tumorgraft&trade; 28-day tumor growth inhibition studies to determine the activity of [*]followed by bioinformatic analyses to
determine signatures of response and clinical paths for these compounds. Champions&rsquo; strengths and expertise with the predictive
nature of the <FONT STYLE="text-underline-style: none; color: windowtext">Biomerk Tumorgrafts&trade;</FONT> models integrated with
Champions&rsquo; experienced oncology drug development team will enable thorough pre-clinical evaluations that can be incorporated
into clinical hypotheses. The results from the proposed studies will provide recommendations for Phase II/III indications, patient
populations and potential companion diagnostics that can be advanced to further development and clinical translation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>[*]</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Fee for exercising Option described
in Section 6.6</U>: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Research Plan for [*]</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Project Overview:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Champions will conduct a panel of low passage
Tumorgraft&trade; studies to determine the activity of [*] followed by bioinformatic analyses to determine signatures of response
and clinical paths for this compound. An overview of the approach is delineated below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>[*]</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Proposal to Evaluate[*] in Biomerk
Tumorgrafts</U></B><U>&trade;<B>:</B></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Champions will conduct a panel of low passage
Tumorgraft&trade; 28-day tumor growth inhibition studies to determine the activity of [*]followed by bioinformatic analyses to
determine signatures of response and clinical paths for these compounds. Champions&rsquo; strengths and expertise with the predictive
nature of the <FONT STYLE="text-underline-style: none; color: windowtext">Biomerk Tumorgrafts&trade;</FONT> models integrated with
Champions&rsquo; experienced oncology drug development team will enable thorough pre-clinical evaluations that can be incorporated
into clinical hypotheses. The results from the proposed studies will provide recommendations for Phase II/III indications, patient
populations and potential companion diagnostics that can be advanced to further development and clinical translation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>[*]</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Fee for exercising Option described
in Section 6.6</U>:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[*]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 42%">REDACTED</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; tab-stops: center 3.0in right 6.0in; font-size: 10pt; font-weight: bold; width: 58%">CONFIDENTIAL</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule 4.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Target Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[*]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-underline-style: double">[Text
marked with an [*] has been omitted and filed separately with the Securities and Exchange Commission.</FONT>]&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>3
<FILENAME>v305716_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL EXECUTIVE
OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule 15d-14(a)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">I, Joel Ackerman, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">1. I have reviewed this
Annual Report on Form 10-K of Champions Oncology, Inc., a Delaware corporation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by
this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">4. The registrant&rsquo;s
other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal control over financial reporting (as defined in the Exchange Act
Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(a) Designed
such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(b) Designed
such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(c) Evaluated
the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about
the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(d) Disclosed
in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s
fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal
control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">5. The registrant&rsquo;s
other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting,
to the registrant&rsquo;s auditors and the audit committee of registrant&rsquo;s board of directors (or persons performing the
equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(a) All
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(b) Any
fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s
internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; text-align: left">Date:&nbsp;March&nbsp;13,&nbsp;2012</TD>
    <TD STYLE="width: 50%; border-bottom: windowtext 1pt solid; text-align: left">/s/&nbsp;&nbsp;Joel&nbsp;Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">(Principal Executive Officer)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>4
<FILENAME>v305716_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL FINANCIAL
OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule 15d-14(a)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">I, Gary G. Gemignani, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">1. I have reviewed this
Annual Report on Form 10-K of Champions Oncology, Inc., a Delaware corporation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by
this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">4. The registrant&rsquo;s
other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined
in Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal control over financial reporting (as defined in the Exchange Act
Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(a) Designed
such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(b) Designed
such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(c) Evaluated
the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about
the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(d) Disclosed
in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s
fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal
control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">5. The registrant&rsquo;s
other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting,
to the registrant&rsquo;s auditors and the audit committee of registrant&rsquo;s board of directors (or persons performing the
equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(a) All
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(b) Any
fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s
internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; text-align: left">Date:&nbsp;March&nbsp;13,&nbsp;2012</TD>
    <TD STYLE="width: 50%; border-bottom: windowtext 1pt solid; text-align: left">/s/&nbsp;&nbsp;Gary&nbsp;G.&nbsp;Gemignani</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Gary G. Gemignani</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">(Principal Financial Officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TYPE>EX-32.1
<SEQUENCE>5
<FILENAME>v305716_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to 18 U.S.C. Section 1350</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 11pt">In connection with the
Annual Report of Champions Oncology, Inc. (the &ldquo;Company&rdquo;) on Form 10-K for the year ended April 30, 2011, as filed
with the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), each of the undersigned, in the capacities
and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the
U.S. Sarbanes-Oxley Act of 2002, that to the best of our knowledge:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(i) the
Report fully complies with the requirements of section 13(a) or 15(d) of the U.S. Securities Exchange Act of 1934; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: left; text-indent: 0.15in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15in; text-align: justify; text-indent: 0.15in">(ii) the
information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; text-align: left">Date:&nbsp;March&nbsp;13,&nbsp;2012</TD>
    <TD STYLE="width: 50%; border-bottom: windowtext 1pt solid; text-align: left">/s/&nbsp;&nbsp;Joel&nbsp;Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">(Principal Executive Officer)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: left">/s/&nbsp; Gary G. Gemignani</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Gary G. Gemignani</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">(Principal Financial Officer)</TD></TR>
</TABLE>
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<P STYLE="margin: 0"></P>

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