Champions Biotechnology secures $2.5 million in 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. After the investment, Champions Biotechnology has a total of 33,247,717 issued and outstanding common shares.

Doug Burkett, president of Champions Biotechnology, said: “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.”