HACKENSACK, N.J., March 16, 2017 /PRNewswire/ -- Champions Oncology, Inc. (NASDAQ: CSBR), a company engaged in the development and sale of advanced technology solutions and products to personalize the development and use of oncology drugs, today announced plans for opening a new lab facility in Rockville, Maryland during the second quarter of its 2018 fiscal year. At current levels of business, the Company expects to realize a 10% reduction in lab costs.
Dr. Ronnie Morris, CEO stated, "Investment in this new lab facility represents an important strategic opportunity that will allow us to work more efficiently, provide space to further grow our business and enable significant cost saving opportunities. The opening of this facility will add to our capacity to grow the depth and breadth of our TumorBank and expand our pre-clinical and clinical drug development research. In line with our focus on operational excellence, in this new lab, we will have complete discretion to manage and operate the facility, including husbandry, to best support our business."
The new facility will include office, conference, lab and vivarium space. The vivarium space will be nearly double the current capacity.
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.