ARLINGTON, Va., April 1, 2008 ChampionsBiotechnology, Inc. (OTC Bulletin Board: CSBR), a company engaged in thedevelopment of advanced preclinical platforms and tumor specific data toenhance the value of oncology drugs, announced today the appointment of newBoard of Directors members and the formation of an experienced management teamas it prepares to expand its operations.
Abba David Poliakoff and Ana Stancic were appointed as new independentdirectors to the Company's Board, chaired by Dr. David Sidransky. The Boardof Directors also established an Audit, Nominations and Corporate Governanceand Compensation Committee. The Company anticipates naming additionalindependent Board members in the future to properly constitute thesecommittees as part of its growth initiatives and in furtherance of its plansto 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 DurwoodSettles will serve as the acting Chief Financial Officer. James M. Martell,the Company's founder and director, has been appointed Chief AdministrativeOfficer and has relinquished the positions of CEO, President and CFO.
"We are very pleased to have these outstanding individuals join our Boardand management team as we grow our preclinical platform and the opportunitiesthat we believe it will create," stated Dr. David Sidransky, Chairman of theBoard of Champions Biotechnology, Inc. "We are grateful to Dr. ManuelHidalgo, who has stepped off the Board as a director in order to head up ourscientific efforts as Chief Scientific Officer, and thank past Board members,Durwood Settles and Michael Tomic for their dedicated Board service to theCompany. I also look forward to working closely with Dr. Doug Burkett as heleads management to achieve our goal to become the world leader in preclinicalplatforms and tumor specific data." concluded Dr. Sidransky.
Douglas D Burkett, Ph.D. commented, "I have collaborated and worked withDr. David Sidransky for nearly a decade and I'm excited about the opportunityto help implement his vision for Champions to become one of the world'sleading biotech companies. Please review the Company's new web site atwww.championsbiotechnology.com for an overview of our growing business."
New Board Members:
Abba David Poliakoff is a member of the law firm of Gordon, Feinblatt,Rothman, Hoffberger & Hollander, LLC, in Baltimore, Maryland, Chairman of theFirm's Business Department, and a Member of the Firm's Electronic DiscoveryPractice Group. Mr. Poliakoff received his J.D. degree, magna cum laude, in1977 from the University of Baltimore Law School, where he was an editor ofthe University of Baltimore Law Review and Associate Editor of The Forum LawJournal. After law school, Mr. Poliakoff joined the staff of the U.S.Securities and Exchange Commission in Washington, D.C., where he became asenior attorney in the Division of Corporation Finance. Mr. Poliakoff iscurrently a member of the Maryland State Bar Association's Business LawSection and former Chair of its Committee on Securities. Formerly he was amember of the Business Regulations Article Review Committee of the Committeeto Revise the Maryland Annotated Code. He has been listed in Chambers USA,Leading Business Lawyers since its inception in 2003. Mr. Poliakoff is amember of the Board of Directors of the Greater Baltimore Technology Council(GBTC) and Chair of its Legislative Committee. He is a former Chair of theMaryland Business & Technology Coalition, member of the Technology Council ofMaryland, and member of the MIT Enterprise Forum. Mr. Poliakoff is currentlythe Chairman of the Maryland Israel Development Center, a joint venturebetween the State of Israel and the State