Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - CHAMPIONS ONCOLOGY, INC. | c07441e8vk.htm |
| EX-10.2 - EXHIBIT 10.2 - CHAMPIONS ONCOLOGY, INC. | c07441exv10w2.htm |
| EX-10.1 - EXHIBIT 10.1 - CHAMPIONS ONCOLOGY, INC. | c07441exv10w1.htm |
Exhibit 99.1
Champions Biotechnology, Inc.
NEWS
855 N. Wolfe Street, Suite 619, Baltimore, Maryland 21205 USA.
Tel. 410-369-0365
Tel. 410-369-0365
For Immediate Release
Champions Biotechnology Reports Additions to its Management Team
Baltimore, MD, October 28, 2010 — Champions Biotechnology, Inc. (OTC Bulletin Board: CSBR), a
company engaged in the development of advanced preclinical platforms and tumor specific data to
enhance the value of oncology drugs, today announced that Mr. Joel Ackerman has joined the
management team as the Chief Executive Officer of the Company. In addition, the Company announced
that Dr. Ronnie Morris will join the management team as President of the Company; Dr. Morris will
concentrate on the development and growth of the personalized medicine business, particularly the
Company’s Personalized Oncology Services. Both Mr. Ackerman and Dr. Morris will join the company’s
Board of Directors.
Mr. Ackerman spent 15 years at Warburg Pincus, a leading private equity investment firm, from
1993 to 2008. While at Warburg Pincus, he was a partner of the firm, a member of the executive
management group and ran the healthcare services group. He invested in start-ups and early-stage
companies as well as later stage growth investments and management-led buyouts. For most of these
companies, Mr. Ackerman served on the board of directors and worked closely with the respective
management teams on strategy, financing, M&A and organizational development. Currently, Mr.
Ackerman sits on the board of directors of Coventry Health Care, a publicly traded managed care
company, and Kindred Healthcare, a publicly traded company that owns hospitals and nursing homes.
He is also Chairman of the Board of One Acre Fund, a non-profit microfinance organization in
Western Kenya. He received a BA in physics from Columbia University and an MA in physics from
Harvard University.
Ronnie Morris, M.D. was most recently one of the founders of MDVIP, the national leader in
personalized healthcare. Serving as a board member, medical director, and part of the executive
management team, Dr. Morris helped build and manage MDVIP, a company that grew to a network of 400
doctors within 29 states servicing 125,000 consumers/patients. In December 2009, MDVIP was
acquired by the Procter and Gamble Co. (NYSE:PG). Prior to MDVIP, Dr. Morris was the Chief Medical Officer and Executive V.P. of
AllianceCare, a 1500+ employee company that provided home healthcare, physical therapy and doctor
visits for home bound patients. At AllianceCare Dr. Morris developed and operated the physician
house call division of the business, and he was the general medical director for the company. He
is currently on the board of directors of APOS therapy. He was the managing partner of a large
multispecialty group that was acquired in 1998 by Promedco. Dr. Morris is a board certified
internist and up until 2004 he had a private practice in Boca Raton, Florida. He has been a
consultant for many pharmaceutical companies including Pfizer, Merck, and AstraZeneca.
Dr. David Sidransky, Chairman of the Board of the Company, said, “We are all very excited
about Mr. Ackerman and Dr. Morris joining our team. They bring a highly successful track record
and years of valuable experience and empirical knowledge to help shape and grow our business.”
Additional information regarding this announcement will be contained in a Form 8-K to be filed
by the Company.
About Champions Biotechnology, Inc.
Champions Biotechnology, Inc. is engaged in the development of advanced preclinical platforms and
predictive tumor specific data to enhance and accelerate the value of oncology drugs. The
Company’s Preclinical Platform is a novel approach based upon the implantation of primary human
tumors in immune deficient mice followed by propagation of the resulting xenografts (Biomerk
Tumorgrafts™) in a manner that preserves the biological characteristics of the original human
tumor. The Company believes that these Tumorgrafts closely reflect human cancer biology and their
response to drugs is more predictive of clinical outcomes in cancer patients.
Champions Biotechnology leverages its preclinical platform to evaluate drug candidates and to
develop a portfolio of novel
therapeutic candidates through pre-clinical trials. As drugs progress through this early stage of
development, the Company plans to sell, partner or license them to pharmaceutical and/or
biotechnology companies, as appropriate. The Company also offers its predictive preclinical
platform and tumor specific data to physicians for personalized patient care and to Companies for
evaluation of oncology drugs and drug candidates in models that integrate prognostic testing with
biomarker discovery.
Champions Biotechnology is dedicated to enhancing preclinical development tools, accelerating
development and valuation of oncology drugs, and advancing personalized treatment with a goal to
improve the lives of cancer patients globally.
This press release contains “forward-looking statements” (within the meaning of the Private
Securities Litigation Act of 1995) that inherently involve risk and uncertainties. Champions
Biotechnology generally uses words such as “believe,” “may,” “could,” “will,” “intend,” “expect,”
“anticipate,” “plan,” and similar expressions to identify forward-looking statements. One should
not place undue reliance on these forward-looking statements. The Company’s actual results could
differ materially from those anticipated in the forward-looking statements for many unforeseen
factors. See Champions Biotechnology’s Form 10-K for the fiscal year ended April 30, 2010 for a
discussion of such risks, uncertainties and other factors. Although the Company believes the
expectations reflected in the forward-looking statements are reasonable, they relate only to events
as of the date on which the statements are made, and Champions Biotechnology’s future results,
levels of activity, performance or achievements may not meet these expectations. The Company does
not intend to update any of the forward-looking statements after the date of this press release to
conform these statements to actual results or to changes in Champions Biotechnology’s expectations,
except as required by law.
CHAMPIONS BIOTECHNOLOGY, INC. WEB SITE: www.championsbiotechnology.com