Champions Oncology Raises $9.3 Million in a Private Placement

Tue Jan 29, 2013 10:00pm EST

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HACKENSACK, N.J., Jan. 29, 2013 (GLOBE NEWSWIRE) -- Champions Oncology, Inc. (OTC:CSBR) ("the
Company") announced today the company raised $9.3 million at a price of $0.50 per share in a
private placement to existing and new investors. No commissions were paid in connection with the
private placement. Joel Ackerman, Champions Oncology CEO, stated, "We are pleased to have the
continued support of our existing shareholders and to announce the addition of a new high quality
investor. These proceeds will allow us to move forward with developing our technology and building
our team."

The lead investors were Battery Ventures IX, L.P., PAR Investment Partners, L.P., Harris & Harris
Group Inc., and members of the Company's management team.

* Proceeds from the financing will be used to: Grow the TumorGraft bank to support the current
Translational Oncology Solutions business and future biomarker development efforts,
* Continue to build out the Senior Management team,
* Initiate a validation study for the Personalized Oncology Solutions business and
* General corporate purposes.

The private placement was comprised of the issuance of 18.6 million shares of common stock to
accredited investors at a price of $0.50 per share, a premium of 16% to today's closing price,
pursuant to Regulation D of the Securities Act of 1933, as amended. Gross proceeds to the Company
will be $9.3 million. Concurrent with the closing of the private placement, the Company will issue
warrants to the investors which will entitle the holders to purchase up to 1,860,000 additional
shares of common stock at $0.66 per share for a period of five years following the date of
issuance. The Company also granted the investors certain registration rights with respect to the
shares of common stock and shares of common stock issuable upon exercise of the warrants.

About Champions Oncology, Inc.

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 TumorGraft
Technology Platform is a novel approach to personalizing cancer care based upon the implantation
of primary human tumors in immune deficient mice followed by propagation of the TumorGrafts in a
manner that preserves the biological characteristics in order to determine the efficacy of a
treatment regimen. The Company uses this technology to offer solutions for Personalized Oncology
Solutions, which guides the development of personalized treatment plans, and Translational
Oncology Solutions, which assists pharmaceutical and biotechnology companies seeking personalized
approaches to drug development to lower the cost and increase the speed of drug development.

For more information, visit www.championsoncology.com
http://www.globenewswire.com/newsroom/ctr?d=10019837&l=6&a=www.championsoncology.com&u=http%3A%2F%2Fwww.championsoncology.com%2F
.

This press release may contain "forward-looking statements" (within the meaning of the Private
Securities Litigation Act of 1995) that inherently involve risk and uncertainties. Champions
Oncology generally uses words such as "believe," "may," "could," "will," "intend," "expect,"
"anticipate," "plan," and similar expressions to identify forward-looking statements. One should
not place undue reliance on these forward-looking statements. The Company's actual results could
differ materially from those anticipated in the forward-looking statements for many unforeseen
factors. See Champions Oncology's Form 10-K for the fiscal year ended April 30, 2012 for a
discussion of such risks, uncertainties and other factors. Although the Company believes the
expectations reflected in the forward-looking statements are reasonable, they relate only to
events as of the date on which the statements are made, and Champions Oncology's future results,
levels of activity, performance or achievements may not meet these expectations. The Company does
not intend to update any of the forward-looking statements after the date of this press release to
conform these statements to actual results or to changes in Champions Oncology's expectations,
except as required by law.

CONTACT: Gary Gemignani
         Champions Oncology, Inc.
         201-808-8408
         GGemignani@championsoncology.com
         
         Lauren Kwiecinski
         The Trout Group LLC
         646-378-2934
         lkwiecinski@troutgroup.com