Champions Oncology and Teva Sign a Discovery and Drug Development Partnership
HACKENSACK, N.J., Sept. 12, 2013 -- Champions Oncology Inc. (OTC:CSBR) ("Champions"), a company engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs, today announced the signing of a new discovery and drug development partnership with Teva Pharmaceutical Industries LTD (NYSE:TEVA) which will utilize Champions TumorGraft™ technology platform to enhance and accelerate the clinical development of several of Teva's oncology compounds.
This partnership, using the Champions TumorGraft™ technology platform, aims to identify highly responsive cancer subtypes, and their corresponding molecular and biochemical biomarkers of responsiveness to Teva's novel therapeutic agents, hopefully leading to new and personalized therapeutic options for patients with cancer. The development process will include initial screening studies on large numbers of TumorGraft models to develop response hypotheses for different tumor types and sub-populations. These hypotheses will be further refined and validated with more in depth studies.
Under the terms of the agreement, Teva will pay Champions an upfront fee and Champions may also receive milestone payments and royalties for the compounds being studied if the response hypotheses are successfully utilized for clinical trial design and resulting commercial success of the compounds.
Joel Ackerman, CEO of Champions commented, "We are excited to announce this opportunity for us to work with the team at Teva to identify and validate sub-populations that are best suited for these compounds. This represents an exciting opportunity for us to align our success with the value our technology provides our customers."
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