Champions Biotechnology, Inc. Appoints New Board Members and Forms Management Team
Arlington, VA – April 01, 2008 – Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in the development of advanced preclinical platforms and tumor specific data to enhance the value of oncology drugs, announced today the appointment of new Board of Directors members and the formation of an experienced management team as it prepares to expand its operations.
Abba David Poliakoff and Ana Stancic were appointed as new independent directors to the Company’s Board, chaired by Dr. David Sidransky. The Board of Directors also established an Audit, Nominations and Corporate Governance and Compensation Committee. The Company anticipates naming additional independent Board members in the future to properly constitute these committees as part of its growth initiatives and in furtherance of its plans to implement a state of the art corporate governance regime.
The Company also formed a new management team. Douglas D. Burkett, Ph.D. has been appointed to serve as the Company’s President, Manuel Hidalgo M.D., Ph.D., has been named to serve as the Chief Scientific Officer and Durwood Settles will serve as the acting Chief Financial Officer. James M. Martell, the Company’s founder and director, has been appointed Chief Administrative Officer and has relinquished the positions of CEO, President and CFO.
“We are very pleased to have these outstanding individuals join our Board and management team as we grow our preclinical platform and the opportunities that we believe it will create,” stated Dr. David Sidransky, Chairman of the Board of Champions Biotechnology, Inc. “We are grateful to Dr. Manuel Hidalgo, who has stepped off the Board as a director in order to head up our scientific efforts as Chief Scientific Officer, and thank past Board members, Durwood Settles and Michael Tomic for their dedicated Board service to the Company. I also look forward to working closely with Dr. Doug Burkett as he leads management to achieve our goal to become the world leader in preclinical platforms and tumor specific data.” concluded Dr. Sidransky.
Douglas D Burkett, Ph.D. commented, “I have collaborated and worked with Dr. David Sidransky for nearly a decade and I’m excited about the opportunity to help implement his vision for Champions to become one of the world’s leading biotech companies. Please review the Company’s new web site at www.championsbiotechnology.com for an overview of our growing business.”