Champions Oncology Signs $2 million Contract
HACKENSACK, N.J., Nov. 17, 2016 /PRNewswire/ -- Champions Oncology, Inc. (Nasdaq: CSBR), engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs, announced today the signing of a $2 million contract with a large pharmaceutical customer. This is the largest pre-clinical pharmacology contract in the company's history and is almost double the size of the largest previous contract. The contract includes studies utilizing Champions patient derived xenograft (PDX) models and a significant component of work on immune oncology drugs. Champions continues to invest in its capabilities for customers interested in testing immune oncology drugs and this contract represents an important step forward in commercializing these capabilities.
Dr. Ronnie Morris, Champions Oncology's President commented, "This is an important milestone for Champions Oncology. This contract demonstrates our ability to build on our existing customer relationships by growing the use of our pre-clinical PDX product and adding related products to our offering. We have a great opportunity to leverage the relationships we have developed with almost 150 customers and the reputation for quality that we have earned. We have been focused on accelerated revenue growth and achieving profitability in the near term. This contract furthers our efforts on both of these fronts while establishing an important foundation for growth in future fiscal years."
About Champions Oncology
Champions Oncology, Inc. is engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs. The company's technology platform is a novel approach to personalizing cancer care based upon the implantation of primary human tumors in immune-deficient mice to create TumorGrafts that preserve the biological characteristics of the original human tumor in order to determine the efficacy of a treatment regimen. The company uses this technology in conjunction with related services to offer solutions for two customer groups: Personalized Oncology Solutions, in which results help guide the development of personalized treatment plans, and Translational Oncology Solutions, in which pharmaceutical and biotechnology companies seeking personalized approaches to drug development can lower the cost and increase the speed of developing new drugs. For more information, please visit www.championsoncology.com.
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SOURCE Champions Oncology, Inc.