Engaging in the development of innovative preclinical platforms and tumor-particular data to improve the value of oncology drugs, Champions Biotechnology, Inc. (OTCBB: CSBR) has completed a $2,500,000 private financing investment. As described in the terms of the investment, Champions Biotechnology issued 1,428,572 restricted shares of their common stock at $1.75 per share. Following the investment, the company has a total of 33,247,717 issued and outstanding common shares remaining.
“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. 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,” said Doug Burkett, Ph.D., and President of Champions Biotechnology, Inc.
Champions Biotechnology, Inc. centers their work on the evaluation, acquisition, and early stage development of an array of new therapeutic drug candidates. The company engages in developing novel technologies, as well as providing administrative services to those involved in the field of oncology. The company’s stock rose 27.27% after Wednesday’s trading.
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