Champions Biotechnology, Inc. Completes $2,500,000 Private Financing at $1.75 per Share
Arlington, VA – Wednesday, April 23, 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 completion of a $2,500,000 private financing. Under the terms of the private investment, Champions Biotechnology issued 1,428,572 restricted shares of the Company’s common stock at $1.75 per share. There were no fees or other expenses related to the funding.
“Dr. David Sidransky, Champions Biotechnology’s Chairman, has established a compelling vision and a high potential business. We are very pleased to have successfully completed this early strategic financing on favorable terms” said Doug Burkett, Ph.D., President of Champions Biotechnology, Inc. “In addition to the cash reserve that we have generated from operations this fiscal year, this investment is expected to enable us to accelerate the development of the Company’s preclinical platform, advance the development of our chemotherapeutic drug candidate and accelerate growth of our Personalized Oncology and Preclinical EValuation businesses.”
After the investment, Champions Biotechnology has a total of 33,247,717 issued and outstanding common shares. For more information regarding Champions Biotechnology’s growing business and recent news, please visit www.championsbiotechnology.com.