Champions Oncology provides preclinical pharmacology studies to pharmaceutical and biotech companies to evaluate experimental cancer drugs. The business centers on a proprietary TumorBank of roughly 1,500 Patient Derived Xenograft (PDX) models, which are human tumors grown in mice. These models reflect late-stage, metastatic cancers to predict how drugs will perform in human clinical trials. Customers use these studies to test drug efficacy, identify patient sub-populations sensitive to specific treatments, and select populations for clinical trials. The company operates primarily through its Research Services segment, performing in vivo and ex vivo studies on a project-by-project basis. Champions also maintains a Data Licensing and SaaS business that provides access to multi-omic datasets and a bioinformatics tool called Lumin for computational research. A nascent subsidiary, Corellia, focuses on discovering and developing novel oncology drug targets like immuno-oncology and cell therapies. The company generates revenue by selling individual studies to customers and recognizes revenue as it completes work. Champions scales research services through specialized capabilities like radiopharmaceuticals. The company also focuses on expanding its data licensing platform for AI-driven drug discovery and seeks external funding for its drug discovery subsidiary.