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• The sale of research services utilizing our innovative research platforms to biopharmaceutical companies
−Removed: • The sale of oncology research SaaS tools to cancer research scientists
+Added: • The sale of PDX model data and oncology research SaaS tools to cancer research scientists
• The discovery and development of novel oncology therapeutics
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Revenue from this business has grown at an average annual growth rate of 12% since 2019 and represents the primary source of our current revenue stream.
+Added: Data Licenses
+Added: We offer access to certain PDX model data via licensing agreements.
+Added: As our platform has been expanded over time with the collection of models and the enhancement of their characterization, we have developed a robust multi-omic dataset with substantial potential for both drug discovery and development.
+Added: This dataset serves as a vital resource for both our pharmaceutical and biotechnology customer who gain access to model-specific data and further their research via licensed access.
Software As A Service (SaaS) Business
−Removed: Our SaaS business, launched during the fiscal year ended April 30, 2021, is centered around our proprietary software platform and data tool, Lumin Bioinformatics ("Lumin"), which contains comprehensive information derived from our research services and clinical studies and is sold to customers on an annual subscription basis.
+Added: Our SaaS business is centered around our proprietary software platform and data tool, Lumin Bioinformatics ("Lumin"), which contains comprehensive information derived from our research services and clinical studies and is sold to customers on an annual subscription basis.
The software was developed by a team that consisted of bioinformatics scientists and mathematicians as well as software engineers.
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Insights developed using Lumin can provide the basis for biomarker hypotheses, reveal potential mechanisms of therapeutic resistance, and guide the direction of additional preclinical evaluations.
−Removed: During the fiscal year ended April 30, 2023, we recorded an impairment charge for the capitalized software development costs of Lumin related to return on investment guidelines.
−Removed: However, we continue to maintain the Lumin platform and sell subscriptions as part of our product offerings as the Lumin data is an integral part of the Company’s long term strategy and value proposition.
Drug Discovery and Development Business
Our nascent drug discovery and development business leverages the computational and experimental capabilities within our platforms.
−Removed: Our discovery strategy utilizes our Datacenter, coupled with artificial intelligence and other advanced computational analytics, to identify novel therapeutic targets.
+Added: Our discovery strategy utilizes our Datacenter, coupled with artificial intelligence and other advanced computational
+Added: analytics, to identify novel therapeutic targets.
We then employ the use of our proprietary experimental platforms to rapidly validate these targets for further drug development efforts.
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Our success in these efforts is demonstrated by the growing number of customers who have increased their annual spend on our services over the years.
−Removed: For the fiscal year ended April 30, 2024, revenues from our products and services totaled approximately $50.1 million, a decrease of approximately 7% from the previous year.
+Added: For the fiscal year ended April 30, 2025, revenues from our products and services totaled approximately $56.9 million, an increase of approximately 14% from the previous year.
Our Current Strategy
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We are currently investing in developing additional proprietary pharmacology platforms aimed at enhancing the scientific output and driving innovation in the oncology research sector.
−Removed: We are also investing in the development of sophisticated analytical platforms which allow scientists to derive deeper insights when using our pharmacology platforms.
+Added: We are also investing in the development of sophisticated analytical
+Added: platforms which allow scientists to derive deeper insights when using our pharmacology platforms.
Once these experimental technologies are established they are made available to our research and development and target discovery teams.
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We have also invested in the development of novel artificial intelligence, data structures, and analytics.
−Removed: Our goal is to leverage our
−Removed: unique Datacenter to establish elegant ways to better understand the molecular dynamics of cancer, and the development of novel therapeutics.
+Added: Our goal is to leverage our unique Datacenter to establish elegant ways to better understand the molecular dynamics of cancer, and the development of novel therapeutics.
Champions currently competes in three different markets:
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the global biopharmaceutical industry.
−Removed: The global oncology drug market is estimated to be as high as $223 billion in 2023.
+Added: The global oncology drug market is estimated to be as high as $223 billion in 2024 with continued projected growth.
Competition in this industry is strong and based significantly on scientific and technological forces, which rely solely on the effectiveness of therapeutics designed to treat cancer.
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Government Regulation
−Removed: The research, development, and marketing of our products, the performance of our legacy Personalized Oncology Solutions ("POS") testing services, and the operation of our facilities are generally subject to federal, state, local, or foreign legislation,
−Removed: including licensure of our laboratory located in Rockville, Maryland by the State of Maryland and compliance with federal, state, local or foreign legislation applicable to the use of live animals in scientific testing, research and education.
+Added: The research, development, and marketing of our products, the performance of our legacy Personalized Oncology Services (POS) testing services, and the operation of our facilities are generally subject to federal, state, local, or foreign legislation, including licensure of our laboratory located in Rockville, Maryland by the State of Maryland and compliance with federal, state, local or foreign legislation applicable to the use of live animals in scientific testing, research and education.
Food and Drug Administration (the "FDA") has claimed regulatory authority over laboratory developed tests such as our legacy POS products, but has generally not exercised it.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.