Diaceutics Unveils Expert Advisory Panel Powering its Industry-Changing Diagnostic Network DXRX

On September 14, 2020 Diaceutics PLC, (AIM: DXRX), reported the establishment of a dedicated Advisory Panel of experts to support and inform the development and rollout of its revolutionary DXRX platform – the world’s first diagnostic network for precision medicine (Press release, Diaceutics, SEP 14, 2020, View Source [SID1234565114]).

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The panel consists of key opinion leaders from the areas of oncology, including lung cancer research and colorectal research; pathology, including tissue pathology and uropathology; molecular diagnostics; digital image analysis; telemedicine and informatics; external quality assessment (EQA); and FDA-expertise. They are providing insights and recommendations to help drive the future direction of DXRX, as well as other solutions developed by Diaceutics to better support the treatment of patients across the world and transform the healthcare industry.

Endorsed and shaped by these industry leaders with over 120 years of collective experience, DXRX will help to unlock the power of precision medicine, drive standardization of diagnostic testing and ensure that every eligible patient gets access to the right treatment at the right time. The end-to-end solution will not only enhance Diaceutics’ service offering but also offer a secure platform for pharmaceutical companies, laboratories and diagnostic companies to collaborate more effectively.

Currently, the Diaceutics Advisory Panel consists of Dr Anthony Magliocco of Protean BioDiagnostics Inc. (Founder and CEO, Consultant Pathologist) in the USA, Keith Kerr from Aberdeen University School of Medicine in Scotland (Professor, Consultant Pathologist), US-based Kenneth J. Bloom of Invicro and Ambry Genetics (CMO, MD, FCAP), Markus Eckstein from University Hospital Erlangen in Germany (MD) and Dr Fotios Loupakis from the Institute of Oncology at Veneto in Italy (Medical Oncologist, MD, MS, Ph.D).

To date, Diaceutics′ Advisory Panel has undertaken extensive research into the inefficiencies in precision medicine testing which are preventing patients from getting the treatment they need, when they need it. For example, this research – which was published in four abstracts and one poster at this year′s American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) conference – revealed the economic burden of not testing for the FLT3 biomarker to treat Acute Myeloid Leukemia (AML), which could cost up to $445 million in the United States alone.

Alongside the establishment of the panel – Diaceutics has invested in building the world’s largest repository of diagnostic testing data consisting of 227 million patient records to power its DXRX platform. The platform has been purpose built to enable access to a global flow of testing data integrating 2500+ laboratories into one secure network. Diaceutics is also building partnerships with industry-leading service providers in areas such as test access and reimbursement, pathology training, health economics, reference standards and EQA including Targos Molecular Pathology and HistoCyte Laboratories earlier this year. The company is currently onboarding laboratory partners to the network with pharmaceutical companies gaining access to the solution in Q4 2020.

Derek Hosty, Head of Innovation, Diaceutics, commented: "It is an honour to have such well-renowned experts joining our ever-expanding network and helping to shape our future service offering. This dynamic group of advisors will enhance the value we deliver to pharmaceutical companies, laboratories and diagnostic companies via our DXRX platform. In turn, this will help to overcome the obstacles currently present in the field of precision medicine and, more importantly, greatly benefit patients by getting them the treatment they deserve.

"DXRX has been designed to give global laboratories a voice, so that they are no longer the forgotten stakeholder in precision medicine, and the very best in the sector are ensuring its success. Together with the industry-leading service providers and partners with whom we are collaborating, the DXRX Advisory Panel will help to transform the broken testing ecosystem and has the potential to transform the entire business model of precision medicine for patients."

Kenneth J. Bloom, CMO, Invicro and Ambry Genetics, said: "I am honored to be part of what is very much an unprecedented approach to bringing stakeholders on to one secure platform to collaborate around diagnostic testing. I see there being a huge appetite for this technology not only with pharma, labs and diagnostic companies but also with clinicians and any service provider involved in the process of getting patients treated."

Keith Kerr, Professor and Consultant Pathologist, Aberdeen University School of Medicine, added: "There is today an unmet need in the testing ecosystem for labs to be much more supported at ground level through in-lab services such as EQA, test standardization and industry training to ensure that more patients get the right treatment at the right time. I am glad to be part of a network which has the potential to deliver on those needs and look forward to what we can achieve together going forward."

PharmAbcine Unveils Olinvacimab’s Positive Results from Phase Ib Combination Studies at KSMO 2020

On September 14, 2020 PharmAbcine Inc. (KOSDAQ: 208340ks) reported positive data from its two combination trials of olinvacimab, its leading clinical candidate in oncology, with MSD’s pembrolizumab at the 13th Annual Meeting of the Korean Society of Medical Oncology (KSMO 2020) (Press release, PharmAbcine, SEP 14, 2020, View Source [SID1234565132]).

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The interim results from the two Phase Ib studies showed that olinvacimab & pembrolizumab, combo has an excellent safety profile in both recurrent glioblastoma multiforme (rGMB) and metastatic Triple-Negative Breast Cancer (mTNBC) patients. The results from the mTNBC study, in particular, demonstrated meaningful efficacy.

Both rGBM and mTNBC trials assessed dose-limiting toxicity (DLT) and safety, as the primary endpoint to establish a preliminary RP2D (Recommended Phase II Dose). The studies also measured ORR, DCR, PFS, and OS for efficacy as the secondary endpoint.

The data indicates that both combination therapies have an excellent safety profile. DLT, the most crucial factor that determines the safety and dosage, was not observed. In both trials, many patients showed manageable symptoms of fatigue, rash, or hemangioma in grade 1 or 2.

In terms of efficacy, the data from the mTNBC trial was more pronounced. Among 11 patients, 4 patients (36%) had PR (Partial Response) and 1 patient had CR (Complete Response), and the total of 5 patients had clinical benefits (PR+SD≥24weeks) from the combination therapy.

The rGBM trial showed that 4 patients (44%) had SD (Stable Disease), including 1 patient staying on SD over 12 cycles. The median OS (Overall Survival) was 7.2 months vs 4 months, the average life span of rGBM patients.

"The interim results provide a strong rationale to proceed the mTNBC combination trial to Phase II," said Dr. Jin-San Yoo, CEO of PharmAbcine. "Despite the encouraging data from the rGBM study, we plan to pursue Phase II with mTNBC only for more efficient use of our resources. We just added three molecules with first-in-class potential in our pipeline and we need to be more careful with our resource utilization."

Ziopharm Oncology Granted Rare Pediatric Disease Designation for Controlled IL-12 for the Treatment of DIPG

On September 14, 2020 Ziopharm Oncology, Inc. ("Ziopharm" or "the Company") (Nasdaq:ZIOP) reported that the U.S. Food and Drug Administration (FDA) has granted Rare Pediatric Disease Designation to Ad-RTS-hIL-12 with veledimex (Controlled IL-12) for the investigational treatment of diffuse intrinsic pontine glioma (DIPG), a lethal brain tumor occurring in the pontine region of the brain (Press release, Ziopharm, SEP 14, 2020, View Source [SID1234569925]). DIPG accounts for approximately 10 to 15 percent of all cases of brain tumors in children. The Rare Pediatric Disease Designation program is intended to encourage the development of new drugs and biologics for the prevention and treatment of rare pediatric diseases.

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"We are delighted to have received the Rare Pediatric Disease Designation for Controlled IL-12 from the FDA. This milestone for Ziopharm emphasizes the significant unmet need for children living with DIPG," said Laurence Cooper, M.D., Ph.D., Chief Executive Officer of Ziopharm. "Currently, there are no viable treatment options for this type of brain tumor. We are working with the FDA to advance Controlled IL-12 as a new gene therapy for this aggressive disease, which has historically been largely seen as incurable."

The FDA grants Rare Pediatric Disease Designation for serious and life-threatening diseases that primarily affect children ages 18 years or younger and fewer than 200,000 people in the United States. If Ziopharm’s Biologics License Application (BLA) for Controlled IL-12 in DIPG is approved, the Company may be eligible to receive a priority review voucher from the FDA, which can be redeemed to obtain priority review for any subsequent marketing application or may be sold or transferred to another company for their program.

About DIPG
In children, the incidence of brain cancer is approximately 4.84 per 100,000, according to the National Cancer Institute. Glioma in the pontine region of the brain, or DIPG, accounts for approximately 10-15 percent of all cases of pediatric brain tumors, with about 150-300 new diagnoses per year in the United States.1 Median survival ranges from 8-11 months.2 There are no curative options.

About Controlled IL-12 (Ad-RTS-hIL-12 plus veledimex)
Ziopharm’s Controlled IL-12 platform is an investigational gene therapy designed to induce and control the production of human interleukin 12 (hIL-12), a master-regulator of the immune system. The Company has treated more than 175 patients, including more than 125 patients with rGBM, with Ad-RTS-hIL-12 plus veledimex and administered more than 1,300 doses of veledimex across three types of solid tumors, building a significant safety profile, mechanistic dataset and evidence of anti-tumor effects.

Controlled IL-12 is being studied in a phase 1/2 trial (NCT03330197) designed to evaluate the safety and tolerability of a single intratumoral injection of Ad-RTS-hIL-12 given with up to 14 days of oral veledimex in children with gliomas. Up to 12 patients with DIPG may be enrolled in phase 1 of the study, which is being conducted at leading pediatric cancer centers across the United States, including Lurie Children’s Hospital in Chicago, Dana-Farber Cancer Institute in Boston and University of California in San Francisco.

Ipsen Showcases Commitment to Patient-centric Advances in Oncology With Record Number of Abstracts to Be Presented at ESMO 2020 Virtual Congress

On September 14, 2020 Ipsen (Euronext: IPN; ADR: IPSEY) reported that novel clinical trial and real-world evidence data across a variety of tumor types and oncology therapeutic settings, will be the subject of multiple oral and poster presentations at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) 2020 Congress, taking place virtually 19–21 September 2020 (Press release, Ipsen, SEP 14, 2020, View Source [SID1234565058]). Results from these 17 abstracts reflect Ipsen’s commitment to oncology research and mission to provide treatment options tailored to patients with significant unmet needs. The impact of this progress is highlighted by the selection of three abstracts for proffered paper presentations, with one featuring in the ESMO (Free ESMO Whitepaper) Presidential Symposium.

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"The breadth of oncology research we’re presenting at ESMO (Free ESMO Whitepaper) this year highlights our commitment to prioritize the development of innovative treatment options that enhance patient care," said Prof. Dr. Steven Hildemann, Executive Vice President, Chief Medical Officer, Head of Global Medical Affairs and Patient Safety, Ipsen. "The positive results from the pivotal Phase III CheckMate -9ER trial are just one example of our successful partnership strategy to catalyze and broaden our progress in delivering potential new or improved options in cancers with significant unmet needs."

Highlights from key data on Ipsen medicines to be presented during the ESMO (Free ESMO Whitepaper) 2020 Congress include:

Superior survival and response rates in previously untreated patients with advanced clear cell renal cell carcinoma (aRCC) with Cabometyx (cabozantinib) in combination with Opdivo (nivolumab) versus sunitinib.
Real-world evidence on Cabometyx (cabozantinib) from the CABOREAL study in non-clear cell metastatic renal cell carcinoma and sarcomatoid renal cell carcinoma, and from an interim analysis of the European CASSIOPE study in aRCC after VEGF-targeted therapy.1
Results from the Phase II CLARINET FORTE trial detailing the efficacy and safety of increasing the frequency of Somatuline Autogel (lanreotide) dosing in progressive pancreatic and midgut neuroendocrine tumors (NETs).1
Aligned with the virtual format of the ESMO (Free ESMO Whitepaper) 2020 Congress, Ipsen is launching a new virtual congress platform, which will include a virtual press office to support media in accessing further information and insights around Ipsen’s data and contribution to the ESMO (Free ESMO Whitepaper) 2020 scientific program, the company’s mission to advance oncology research, and its commitment to address patients’ unmet needs.

The virtual congress platform is available here and the virtual press office is available here. To receive a recording of the virtual media briefing and receive exclusive media content, please register your interest here: View Source

Follow Ipsen on Twitter via @IpsenGroup and keep up to date with ESMO (Free ESMO Whitepaper) 2020 Congress news and updates by using the hashtag #ESMO20.

Overview of presentations featuring Ipsen medicines in development at the ESMO (Free ESMO Whitepaper) 2020 Congress:

Medicine

Abstract title

Presentation number/timing
(CEST)

Cabometyx
(cabozantinib)

Nivolumab + cabozantinib vs sunitinib in first-line treatment for
advanced renal cell carcinoma: first results from the randomized phase 3 CheckMate -9ER trial

Presentation number: 696O
Date/time: 19 September, 19:34 – 19:46

Cabozantinib in elderly patients: results from a subanalysis
of the CABOREAL study

Presentation number: 722P
Date/time: 17 September, on-demand

Cabozantinib in non-clear cell metastatic renal cell carcinoma
and sarcomatoid renal cell carcinoma: real-world data from the CABOREAL study

Presentation number: 732P
Date/time: 17 September, on-demand

CaboPoint: a phase II study of second-line cabozantinib in patients with metastatic
renal cell carcinoma (RCC)

Presentation number: 804TiP
Date/time: 17 September, on-demand

Interim analysis of CASSIOPE, a real-world study of cabozantinib for the treatment of
advanced renal cell carcinoma (aRCC) after VEGF-targeted therapy in Europe

Presentation number: 741P
Date/time: 17 September, on-demand

Clinical outcomes stratified by Charlson Comorbidity Index (CCI) score from a retrospective study of patients
with advanced renal cell carcinoma (aRCC) who received cabozantinib as part of
the UK Managed Access Program (MAP)

Presentation number: 1645P
Date/time: 17 September, on-demand

Cabozantinib (C) in combination with atezolizumab (A) in non-clear cell renal cell carcinoma (nccRCC):
results from cohort 10 of the COSMIC-021 study

Presentation number: 709P
Date/time: 17 September, on-demand

Cabozantinib (C) in combination with atezolizumab (A) as first-line therapy for
advanced clear cell renal cell carcinoma (ccRCC): results from the COSMIC-021 study

Presentation number: 702O
Date/time: 21 September, 17:04–17:16

Onivyde
(liposomal irinotecan)

RESILIENT part 1: pharmacokinetics of second-line (2L) liposomal irinotecan
in patients with small cell lung cancer (SCLC)

Presentation number: 1793P
Date/time: 17 September, on-demand

First-line (1L) liposomal irinotecan + 5 fluorouracil/leucovorin (5-FU/LV) + oxaliplatin (OX)
in patients with locally advanced or metastatic pancreatic ductal adenocarcinoma (mPDAC):
exploratory subgroup analyses of survival by changes in CA 19-9 levels

Presentation number: 1529P
Date/time: 17 September, on-demand

Multivariable analysis of real-world clinical outcomes associated with dose reductions (DRs)
for patients (pts) with metastatic pancreatic ductal adenocarcinoma (mPDAC)
treated with liposomal irinotecan

Presentation number: 1534P
Date/time: 17 September, on-demand

Real-world treatment patterns and effectiveness of liposomal irinotecan in a NAPOLI1-based
regimen among patients with metastatic pancreatic ductal adenocarcinoma (mPDAC):
a multi-academic center chart review

Presentation number: 1555P
Date/time: 17 September, on-demand

Clinical pathway implications and real-world characteristics and outcomes for
patients with metastatic pancreatic ductal adenocarcinoma (mPDAC) treated with first line category 1
National Comprehensive Cancer Network (NCCN) regimens

Presentation number: 1564P
Date/time: 17 September, on-demand

Decapeptyl
(triptorelin pamoate)

Efficacy of triptorelin after radical prostatectomy in patients with high-risk prostate cancer

Presentation number: 664P
Date/time: 17 September, on-demand

Somatuline
(lanreotide)

Efficacy and safety of lanreotide autogel (LAN) 120 mg every 14 days in progressive pancreatic or
midgut neuroendocrine tumours (NETs): CLARINET FORTE study results

Presentation Number: 1162MO
Date/time: 18 September, on-demand

Lanreotide autogel (LAN) and temozolomide (TMZ) combination therapy in progressive thoracic
neuroendocrine tumours (TNETs): ATLANT study results

Presentation number: 1161MO
Date/time: 18 September, on-demand

Satoreotide tetraxetan

An international open-label study on safety and efficacy of 177Lu-satoreotide tetraxetan in somatostatin
receptor positive neuroendocrine tumours (NETs): an Interim Analysis

Presentation number: 1160O
Date/time: 20 September, 14:37–14:49

About renal cell carcinoma
There are over 400,000 new cases of kidney cancer diagnosed worldwide each year.2 Of these, renal cell carcinoma (RCC) is the most common type of kidney cancer, accounting for approximately 90% of cases.3,4 It is twice as common in men, and male patients account for over two thirds of deaths.2 If detected in the early stages, the five-year survival rate is high, but for patients with advanced or late-stage metastatic RCC the survival rate is much lower, around 12%, with no identified cure for this disease.5,6

About NETs
Neuroendocrine tumors, or NETs, are a group of uncommon tumors that develop in the cells of the neuroendocrine system, throughout the body.7,8 NETs occur in both men and women, in general aged 50 to 60 years old, although they can affect anyone of any age.9

The three main areas where NETs are found in the body are the gastrointestinal tract, the pancreas and the lungs.8,10

Gastrointestinal NETs (GI-NETs) are found in the gastrointestinal tract or digestive system and are the most common type of NETs.10
Pancreatic NETs (panNETs) are formed in the islet cells of the pancreas and include several uncommon types of NETs.10
Lung NETs are less common than other types, accounting for about one quarter of NETs.10
The symptoms of NETs are often not distinct and difficult to identify, and can sometimes take between five to seven years to fully diagnose.11 The number of people being newly diagnosed with NETs overall is believed to be rising.12 This is mainly due to increased awareness of the condition and diagnostic testing.12 NETs are now the fastest growing class of cancers worldwide, accounting for around 2% of all cancers at any time.12

About pancreatic cancer
Pancreatic cancer occurs when cells in the pancreas grow uncontrollably from a malignant tumor. It is the seventh leading cause of cancer death globally and the 12th most common cancer,13,14 and has the lowest survival rate of the most common cancers.15,16 As there are often no symptoms, or symptoms may be non-specific in the early stages,17 it is most commonly diagnosed at an incurable stage.18 Around 80% of pancreatic cancer patients are diagnosed with metastatic disease and for these the average survival is less than a year.19

About the CheckMate -9ER trial
CheckMate -9ER is an open-label, randomized, multi-national Phase III trial evaluating the treatment of patients with previously untreated advanced or metastatic RCC. Patients were randomized 1:1 to Opdivo and Cabometyx or sunitinib. The primary endpoint is progression-free survival (PFS). Secondary endpoints include overall survival (OS) and objective response rate (ORR). The primary efficacy analysis compared the doublet combination versus sunitinib in randomized patients. The trial is sponsored by Bristol-Myers Squibb and Ono Pharmaceutical Co. and co-funded by Exelixis, Ipsen and Takeda Pharmaceutical Company Limited.

About CLARINET FORTE
CLARINET FORTE is a prospective single-arm, open-label, exploratory, international Phase II study to explore the efficacy and safety of a reduced lanreotide autogel dosing interval (120 mg every 14 days) in patients with metastatic or locally advanced unresectable pancreatic neuroendocrine tumors (G1/2 panNETs) or midgut NETs, with centrally-accessed progression within the last two years while on a standard lanreotide autogel regimen (120 mg every 28 days) for more than 24 weeks.

About Ipsen Products
This press release mentions investigational uses of Ipsen products. Product indications and approvals for use vary by jurisdiction; please see SmPC/PI for full indications and safety information, including Boxed Warnings.

About Cabometyx (cabozantinib)
Cabometyx is currently approved in 54 countries, including in the European Union, the U.S., the U.K., Norway, Iceland, Australia, Switzerland, South Korea, Canada, Brazil, Taiwan, Hong-Kong, Singapore, Macau, Jordan, Lebanon, Russian Federation, Ukraine, Turkey, United Arab Emirates, Saudi Arabia, Serbia, Israel, Mexico, Chile and Panama for the treatment of advanced RCC in adults who have received prior VEGF-targeted therapy; in the European Union, the U.K., Norway, Iceland, Canada, Australia, Brazil, Taiwan, Hong Kong, Singapore, Jordan, Russian Federation, Turkey, United Arab Emirates, Saudi Arabia, Israel, Mexico, Chile and Panama for previously untreated intermediate- or poor-risk advanced RCC; and in the European Union, the U.S., the U.K., Norway, Iceland, Canada, Australia, Switzerland, Saudi Arabia, Serbia, Israel, Taiwan, Hong Kong, South Korea, Singapore, Jordan, Russian Federation, Turkey, United Arab Emirates, and Panama for HCC in adults who have previously been treated with sorafenib.

The detailed recommendations for the use of Cabometyx are described in the Summary of Product Characteristics (SmPC) and in the U.S. Prescribing Information (PI).

Cabometyx is marketed by Exelixis, Inc. in the United States and by Takeda Pharmaceutical Company Limited in Japan. Ipsen has exclusive rights for the commercialization and further clinical development of Cabometyx outside of the U.S. and Japan.

About Somatuline (lanreotide)
Somatuline Autogel/Depot is made of the active substance lanreotide, which is a long-acting somatostatin analogue that inhibits the secretion of growth hormone and certain hormones secreted by the digestive system. The main indications of Somatuline and Somatuline Autogel are:20

The treatment of individuals with acromegaly when the circulating levels of Growth Hormone (GH) and/or Insulin-like Growth Factor-1 (IGF-1) remain abnormal after surgery and/or radiotherapy, or in patients who otherwise require medical treatment.
The treatment of grade 1 and a subset of grade 2 (Ki-67 index up to 10%) gastroenteropancreatic neuroendocrine tumors (GEP-NETs) of midgut, pancreatic or unknown origin where hindgut sites of origin have been excluded, in adult patients with unresectable locally advanced or metastatic disease.
The treatment of symptoms associated with neuroendocrine (particularly carcinoid) tumors.
The detailed recommendations for the use of Somatuline Autogel are described in the Summary of Product Characteristics (SmPC) and in the U.S. Prescribing Information (PI).

About Decapeptyl
Decapeptyl (triptorelin pamoate) is an agonist analogue of the natural gonadotropin-releasing hormone (GnRH), currently available in three sustained-release formulations (1, 3 and 6 months). First registered in France in 1986, triptorelin is currently marketed by Ipsen under a license agreement from Debiopharm Group in more than 80 countries, being the market leader in many territories worldwide.

The detailed recommendations for the use of Decapeptyl are described in the Summary of Product Characteristics (SmPC).

About Onivyde (irinotecan liposome injection)
Onivyde is an encapsulated formulation of irinotecan available as a 43 mg/10 mL single dose vial. This liposomal form is designed to increase length of tumor exposure to both irinotecan and its active metabolite, SN- 38. Onivyde is approved by the U.S. FDA in combination with fluorouracil (5-FU) and leucovorin (LV) for the treatment of patients with metastatic adenocarcinoma of the pancreas after disease progression following gemcitabine-based therapy.

In 2017 Ipsen completed the acquisition from Merrimack Pharmaceuticals of Onivyde and gained exclusive commercialization rights for the current and potential future indications for Onivyde in the U.S.21 Servier is responsible for the development and commercialization of Onivyde outside of the U.S. and Taiwan under an exclusive licensing agreement with Ipsen Biopharm Ltd.

Onivyde is approved by the U.S. FDA in combination with fluorouracil (5-FU) and leucovorin (LV) for the treatment of patients with metastatic adenocarcinoma of the pancreas after disease progression following gemcitabine-based therapy.

Servier is an international pharmaceutical company governed by a non-profit foundation, with its headquarters in France (Suresnes). More information: www.servier.com/en/.

The detailed recommendations for the use of Onivyde are described in the Summary of Product Characteristics (SmPC) and in the U.S. Prescribing Information (PI).

Champions Oncology Reports Record Quarterly Revenue of $9.5 Million

On September 14, 2020 Champions Oncology, Inc. (Nasdaq: CSBR), engaged in an end-to-end range of research and development technology solutions and services to improve the development and use of oncology drugs, reported its financial results for the first fiscal quarter ended July 31, 2020 (Press release, Champions Oncology, SEP 14, 2020, View Source [SID1234565080]).

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First Quarter Highlights:

•Record quarterly revenue of $9.5 million, an increase of 42% year-over-year

•Reported income from operations of $421,000, excluding stock-based compensation, depreciation and amortization

•Achieved record quarterly bookings

•Completed relocation to new lab space and expansion of capacity

Ronnie Morris, CEO of Champions, commented, "We started off our fiscal year with a record breaking revenue quarter exceeding $9.5 million. Our core PDX business, the foundation of our product offerings, continues to grow and is leading to additional end point analysis testing. Despite these uncertain times, we remained committed to our long term strategy and our business prospects remain strong."

David Miller, CFO of Champions added, "The growth in both our core products and new product offerings led to a 42% increase in year over year revenue. The record quarterly revenue combined with another quarterly bookings high, sets the trajectory for a year of continued revenue growth."

First Fiscal Quarter Financial Results

For the first quarter of fiscal 2021, revenue increased 41.7% to $9.5 million compared to $6.7 million for the first quarter of fiscal 2020. The increase in revenue was due to increased sales, both in number and size of studies, and strong demand for our services. Expansion in end point analysis testing has led to larger contracts and ex-vivo services have become a meaningful contributor to revenue. Total costs and operating expenses for the first quarter of fiscal 2021 were $9.5 million compared to $7.4 million for the first quarter of fiscal 2020, an increase of $2.2 million or 29.5%.

For the first quarter of fiscal 2021, Champions reported income from operations of $24,000, including $120,000 in stock-based compensation and $277,000 in depreciation and amortization expenses, an increase of $638,000 compared to the loss from operations of $614,000, inclusive of $131,000 in stock-based compensation and $182,000 in depreciation and amortization expenses, in the first quarter of fiscal 2020. Excluding stock-based compensation, depreciation and amortization expenses, Champions reported non-GAAP income from operations of $421,000 for the first quarter of fiscal 2021 compared to non-GAAP loss from operations of $301,000 in the first quarter of fiscal 2020, an increase of $722,000.

Cost of oncology solutions was $5.3 million for the three-months ended July 31, 2020, an increase of $1.6 million, or 42.2% compared to $3.8 million for the three-months ended July 31, 2019. For the three- months ended July 31, 2020, gross margin was 44.1% compared to 44.3% for the three-months ended July 31, 2019. The increase in cost of oncology services for the three-month period was mainly due to an increase in compensation and outsourced lab service expenses. Excluding outsourced lab services, the overall expense increase is generally in line with expectations based on the growth in revenue, study volume, and expansion into new services. Gross margin varies based on timing differences between expense and revenue recognition and was impacted by the increase in costs on growing study volume in advance of revenue recognition. The cost of outsourced lab services magnified this effect.

Research and development expense was $1.6 million and $1.3 million for the three-months ended July 31, 2020 and July 31, 2019, respectively. The increase was due to continued investment towards developing new service capabilities, and sequencing costs associated with characterizing additional models in our TumorBank. Sales and marketing expense for the three-months ended July 31, 2020 was $1.2 million, an increase of $338,000, or 38.9%, compared to $870,000 for the three-months ended July 31, 2019. The increase was primarily due to compensation expense driven by the continued expansion of the sales force and commissions earned. General and administrative expense was flat at $1.4 million for the three-months ended July 31, 2020 and 2019.

Net cash used in operating activities was $715,000. The use of cash from operations was primarily due to ordinary course of business timing differences in working capital items for the first quarter of 2021, including an increase in accounts receivable of $263,000 and a reduction in accounts payable and accrued expenses of $813,000.

The Company ended the quarter in a strong cash position with a $6.9 million cash balance compared to $2.2 million at the end of the same period last year. The Company has no debt.

Conference Call Information:

The Company will host a conference call today at 4:30 p.m. EST (1:30 p.m. PST) to discuss its third quarter financial results. To participate in the call, please call 877-407-8035 (domestic) or 201-689-8035 (international) ten minutes ahead of the call and give the verbal reference "Champions Oncology."

Full details of the Company’s financial results will be available Monday, September 14, 2020 in the Company’s Form 10-Q at www.championsoncology.com.

* Non-GAAP Financial Information

See the attached Reconciliation of GAAP net income (loss) to Non-GAAP net income (loss) for an explanation of the amounts excluded to arrive at Non-GAAP net income (loss) and related Non-GAAP

Exhibit 99.1

earnings (loss) per share amounts for the three months ended July 31, 2020 and 2019. Non-GAAP financial measures provide investors and management with supplemental measures of operating performance and trends that facilitate comparisons between periods before and after certain items that would not otherwise be apparent on a GAAP basis. Certain unusual or non-recurring items that management does not believe affect the Company’s basic operations do not meet the GAAP definition of unusual or non-recurring items. Non-GAAP net income (loss) and Non-GAAP earnings (loss) per share are not, and should not, be viewed as a substitute for similar GAAP items. Champions defines Non-GAAP dilutive earnings (loss) per share amounts as Non-GAAP net earnings (loss) divided by the weighted average number of diluted shares outstanding. Champions’ definition of Non-GAAP net earnings (loss) and Non-GAAP diluted earnings (loss) per share may differ from similarly named measures used by other companies.