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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): March 24, 2009</B>


<P style="font-size: 24pt" align="center"><B>CHAMPIONS BIOTECHNOLOGY,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
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  <TD width="32%">&nbsp;</TD>
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 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-17263</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>52-1401755</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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  <TD width="49%">&nbsp;</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>Science and Technology Park
at Johns Hopkins<BR>
855 N. Wolfe Street, Baltimore, MD<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>21205</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(410) 630-1313</B>
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  <TD style="border-bottom: #000000 1px solid"
nowrap><B>Inapplicable<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="center"><B>INFORMATION TO BE INCLUDED IN THE
REPORT</B>

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;4.01. Changes in
Registrant&#8217;s Certifying Accountant.</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">On March&nbsp;24,
2009, the Audit Committee of the Board of Directors (the &#8220;Audit
Committee&#8221;) of Champions Biotechnology, Inc. (the
&#8220;<B>Company</B>&#8221;) dismissed its independent registered public
accounting firm, Bagell, Josephs, Levine &amp; Company, L.L.C.
(&#8220;<B>Bagell Josephs</B>&#8221;), and engaged Ernst &amp; Young LLP
(&#8220;<B>E&amp;Y</B>&#8221;) as its independent registered public accounting
firm for the year ended April&nbsp;30, 2009. The change in auditors became
effective immediately. This determination followed the Company&#8217;s decision
to seek proposals from independent accountants to audit the consolidated
financial statements of the Company, and was approved by the Company&#8217;s
Board of Directors upon the recommendation of its Audit Committee.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The audit reports
of Bagell Josephs on the consolidated financial statements of the Company as of
and for the fiscal years ended April&nbsp;30, 2007 and April&nbsp;30, 2008 did
not contain any adverse opinion or disclaimer of opinion, and were not
qualified or modified as to uncertainty, audit scope or accounting principles.

<P style="font-size: 10pt; text-indent: 4%" align="justify">During the fiscal
years ended April&nbsp;30, 2007 and April&nbsp;30, 2008, and the subsequent
period through March&nbsp;23, 2009, there were no disagreements (as defined in
Item&nbsp;304(a)(1)(iv) of regulation S-K and the related instructions to Item
304 of Regulation&nbsp;S-K) with Bagell Josephs, on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which disagreements, if not resolved to Bagell Josephs&#8217;
satisfaction, would have caused Bagell Josephs to make reference to the subject
matter of the disagreement in its reports on the consolidated financial
statements for such years.

<P style="font-size: 10pt; text-indent: 4%" align="justify">During the years
ended April&nbsp;30, 2007 and April&nbsp;30, 2008 and the subsequent period
through March&nbsp;23, 2009, there were no reportable events (as defined in
Item&nbsp;304(a)(1)(v) of Regulation&nbsp;S-K), except that in 2008, the Audit
Committee discussed with Bagell Josephs the existence of a material weakness in
the Company&#8217;s internal control over financial reporting related to
inadequate staffing and supervision that could lead to the untimely
identification and resolution of accounting and disclosure matters and failure
to perform timely and effective reviews. This material weakness is more fully
described in the Company&#8217;s Annual Reporting on Form 10-KSB for the year
ended April&nbsp;30, 2008, filed July&nbsp;29, 2008 with the Securities and
Exchange Commission (the &#8220;SEC&#8221;). The Company authorized Bagell
Josephs to respond fully to the inquiries of E&amp;Y concerning the material
weakness.

<P style="font-size: 10pt; text-indent: 4%" align="justify">During fiscal years
ended April&nbsp;30, 2007 and April&nbsp;30, 2008, and the subsequent interim
period through March&nbsp;23, 2009, neither the Company nor anyone acting on
its behalf has consulted with E&amp;Y regarding any of the matters or events
set forth in Item&nbsp;304(a)(2)(i)&nbsp;and (ii)&nbsp;of Regulation&nbsp;S-K.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The Company has
provided a copy of this Form 8-K to Bagell Josephs and requested Bagell Josephs
to furnish a letter as required by Item&nbsp;304(a)(3) of Regulation&nbsp;S-K.
A copy of letter from Bagell Josephs dated March&nbsp;25, 2009 is attached
hereto as Exhibit&nbsp;16.1 to this Report.

<P style="font-size: 10pt; text-indent: 4%" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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<P style="font-size: 10pt" align="justify"><B>Item&nbsp;9.01. Financial
Statements and Exhibits.</B>

<P style="font-size: 10pt" align="justify"><I>(d)&nbsp;Exhibits</I>

<P style="font-size: 10pt" align="justify">The following exhibits are filed
herewith:

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<DIV style="margin-left: 0px; text-indent: 0px">Exhibit&nbsp;No. </DIV>
</TD>
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  <TD valign="top" align="left">&nbsp;</TD>
 </TR>
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<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
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<DIV style="margin-left: 0px; text-indent: 0px">16.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Letter of Bagell, Josephs, Levine &amp;
Company, L.L.C.</TD>
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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.

<P style="font-size: 10pt; margin-left: 46%" align="justify"><B>CHAMPIONS
BIOTECHNOLOGY, INC.</B> <BR>
(Registrant)

<P style="font-size: 10pt" align="justify">Date: March&nbsp;25, 2009

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 46%"
align="justify">By:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>/</B>s/
Douglas D.
Burkett&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Douglas D. Burkett <BR>
President

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
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Form 8-K
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): March 24, 2009
CHAMPIONS BIOTECHNOLOGY,
INC.
(Exact name of registrant as
specified in its charter)
Delaware
0-17263
52-1401755
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
Science and Technology Park
at Johns Hopkins
855 N. Wolfe Street, Baltimore, MD
21205
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(410) 630-1313
Inapplicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN THE
REPORT
Item 4.01. Changes in
Registrant's Certifying Accountant.
On March 24,
2009, the Audit Committee of the Board of Directors (the "Audit
Committee") of Champions Biotechnology, Inc. (the
"
Company
") dismissed its independent registered public
accounting firm, Bagell, Josephs, Levine & Company, L.L.C.
("
Bagell Josephs
"), and engaged Ernst & Young LLP
("
E&Y
") as its independent registered public accounting
firm for the year ended April 30, 2009. The change in auditors became
effective immediately. This determination followed the Company's decision
to seek proposals from independent accountants to audit the consolidated
financial statements of the Company, and was approved by the Company's
Board of Directors upon the recommendation of its Audit Committee.
The audit reports
of Bagell Josephs on the consolidated financial statements of the Company as of
and for the fiscal years ended April 30, 2007 and April 30, 2008 did
not contain any adverse opinion or disclaimer of opinion, and were not
qualified or modified as to uncertainty, audit scope or accounting principles.
During the fiscal
years ended April 30, 2007 and April 30, 2008, and the subsequent
period through March 23, 2009, there were no disagreements (as defined in
Item 304(a)(1)(iv) of regulation S-K and the related instructions to Item
304 of Regulation S-K) with Bagell Josephs, on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which disagreements, if not resolved to Bagell Josephs'
satisfaction, would have caused Bagell Josephs to make reference to the subject
matter of the disagreement in its reports on the consolidated financial
statements for such years.
During the years
ended April 30, 2007 and April 30, 2008 and the subsequent period
through March 23, 2009, there were no reportable events (as defined in
Item 304(a)(1)(v) of Regulation S-K), except that in 2008, the Audit
Committee discussed with Bagell Josephs the existence of a material weakness in
the Company's internal control over financial reporting related to
inadequate staffing and supervision that could lead to the untimely
identification and resolution of accounting and disclosure matters and failure
to perform timely and effective reviews. This material weakness is more fully
described in the Company's Annual Reporting on Form 10-KSB for the year
ended April 30, 2008, filed July 29, 2008 with the Securities and
Exchange Commission (the "SEC"). The Company authorized Bagell
Josephs to respond fully to the inquiries of E&Y concerning the material
weakness.
During fiscal years
ended April 30, 2007 and April 30, 2008, and the subsequent interim
period through March 23, 2009, neither the Company nor anyone acting on
its behalf has consulted with E&Y regarding any of the matters or events
set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.
The Company has
provided a copy of this Form 8-K to Bagell Josephs and requested Bagell Josephs
to furnish a letter as required by Item 304(a)(3) of Regulation S-K.
A copy of letter from Bagell Josephs dated March 25, 2009 is attached
hereto as Exhibit 16.1 to this Report.
Item 9.01. Financial
Statements and Exhibits.
(d) Exhibits
The following exhibits are filed
herewith:
Exhibit No.
16.1
Letter of Bagell, Josephs, Levine &
Company, L.L.C.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
CHAMPIONS
BIOTECHNOLOGY, INC.
(Registrant)
Date: March 25, 2009
By:
/
s/
Douglas D.
Burkett
Douglas D. Burkett
President