SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(X)  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934.

     For the Quarter ended September 30, 2005

( )  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE ACT OF 1934.

For the transition period from ____________________ to _____________________

                           Commission File No. 0-15862

                                GVC VENTURE CORP.
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

             Delaware                                            13-3018466
---------------------------------------                     --------------------
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                              Identification No.)

The Chrysler Building, 405 Lexington Avenue, Suite 2600, New York, NY   10174
--------------------------------------------------------------------------------
                (Address of principal executive offices)              (Zip Code)

Registrant's telephone number, including area code:  (212) 907-6610

     Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes  X    No
    ---      ---

     Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act). Yes  X    No
                                                ---      ---

     State the number of shares outstanding of each of the issuer's classes of
common equity, as of latest practicable date: As of November 4, 2005, there were
14,194,516 shares of Common Stock, $.01 par value per share outstanding.

Transitional Small Business Disclosure Format:  Yes       No  X
                                                    ---      ---


<PAGE>


Item 1.           Financial Statements
-------

                       GVC VENTURE CORP. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>
                                                       September 30,    June 30,
                                                           2005          2005
                                                         -------       -------
                                                       (Unaudited)    (Audited)
<S>                                                      <C>           <C>
ASSETS
Current assets:
     Cash and cash equivalents                           $    45       $    44
                                                         -------       -------

         Total current assets                                 45            44
                                                         -------       -------
     Other assets                                              1             1
                                                         -------       -------
TOTAL ASSETS                                             $    46       $    45

LIABILITIES AND STOCKHOLDERS'
 EQUITY
Current liabilities:
     Accounts payable and other accrued expenses         $    90       $    90
                                                         -------       -------
         Total current liabilities                            90            90

Commitments and contingencies                                  -             -
                                                         -------       -------
TOTAL LIABILITIES                                             90            90
                                                         -------       -------
Stockholders' equity:
     Common stock, $.01 par value,  authorized
       50,000,000 shares, issued and outstanding
       14,194,516 shares                                     142           142
     Preferred stock, $.01 par value, authorized
       1,000,000 shares, none issued or outstanding            -             -
     Additional paid-in capital                            2,266         2,266
     Accumulated deficit                                  (2,452)       (2,453)
                                                         -------       -------
         Total stockholders' deficit                         (44)          (45)
                                                         -------       -------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY                                     $    46       $    45
                                                         =======       =======
</TABLE>


                See notes to consolidated financial statements.


                                       2
<PAGE>

                       GVC VENTURE CORP. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
                    (DOLLARS IN THOUSANDS, EXCEPT SHARE DATA)


                                              Three Months Ended September 30,
                                                ---------------------------
                                                    2005           2004
                                                -----------    ------------
Fee Income                                               10               -

Expense:

         Corporate office expenses                        9               3
                                                -----------    ------------
         Total expense                                    9               3
                                                -----------    ------------
Income (loss) from operations                             1              (3)
Income tax expense                                        -               -
                                                -----------    ------------
Net income (loss)                               $         1    $         (3)
                                                ===========    ============

Basic and diluted income (loss) per share       $         -    $          -
                                                ===========    ============
Weighted average common shares outstanding:
         Basic and diluted                       14,194,516      14,194,516


                 See notes to consolidated financial statements.



                                       3
<PAGE>


                       GVC VENTURE CORP. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                     Three Months Ended September 30,
                                                                            -------------------
                                                                            2005           2004
                                                                            ----           ----
<S>                                                                         <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:

Net income (loss)                                                           $  1           $ (3)
Adjustments to reconcile net income (loss) to cash provided by operating
     activities:
     Increase in operating assets                                              -             (1)
     Decrease in accounts payable and accrued expenses                         -            (23)
                                                                            ----           ----
     Net cash used by operating activities                                     -            (27)
                                                                            ----           ----
CASH FLOWS FROM INVESTING ACTIVITIES:                                          -              -

CASH FLOWS FROM FINANCING ACTIVITIES:                                          -              -
                                                                            ----           ----
     Net increase (decrease) in cash and cash equivalents                      1            (27)
     Cash and cash equivalents, beginning of period                           44             89
                                                                            ----           ----
     Cash and cash equivalents, end of period                               $ 45           $ 62
                                                                            ====           ====

Supplemental cash flow disclosures:

     Cash payments of interest                                              $  -              -
     Cash payments of income taxes                                          $  2           $  1

</TABLE>


                 See notes to consolidated financial statements.


                                       4
<PAGE>

                       GVC VENTURE CORP. AND SUBSIDIARIES
           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2005
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>
                                           Common Stock           Paid-in    Accumulated
                                      Shares        Amount        Capital       Deficit         Total
                                    ----------    ----------    ----------    ----------     ----------
<S>                                 <C>           <C>           <C>           <C>            <C>
Balance, June 30, 2005 (audited)    14,194,516    $      142    $    2,266    $   (2,453)    $      (45)
                                    ----------    ----------    ----------    ----------     ----------
Net income (unaudited)                       -             -             -             1              1
                                    ----------    ----------    ----------    ----------     ----------
Balance, September 30, 2005
(unaudited)                         14,194,516    $      142    $    2,266    $   (2,452)    $      (44)
                                    ==========    ==========    ==========    ==========     ==========
</TABLE>


                 See notes to consolidated financial statements.

                                       5
<PAGE>


                       GVC VENTURE CORP. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE A - BASIS OF PRESENTATION:

The accompanying unaudited consolidated financial statements of GVC Venture
Corp. (the "Company") have been prepared in accordance with accounting
principles generally accepted in the United States of America (GAAP) for interim
financial information and with the instructions to Form 10-QSB and Article 10 of
Regulation S-X promulgated by the Securities and Exchange Commission.
Accordingly, they do not include all of the information and notes required by
GAAP for complete financial statements. In the opinion of management, all
adjustments (consisting of normal recurring accruals) considered necessary for a
fair presentation have been included herein. The consolidated balance sheet
presented herein as of June 30, 2005 was derived from the Company's audited
consolidated financial statements as of and for the year ended June 30, 2005.
Operating results are not necessarily indicative of the results that may be
expected for the year ending June 30, 2006 or other future periods. For further
information, refer to the financial statements and notes thereto included in the
Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2005.

NOTE B - NATURE OF OPERATIONS:

The Company currently engages in no operating activities other than seeking
potential opportunities for an acquisition, sale, reverse merger or other
business combination. The Company has been actively seeking merger, acquisition
and business combination opportunities with operating businesses and other
appropriate financial transactions, including a transaction with a privately
held company seeking to operate as a publicly-held company. On June 27, 2005,
the Company entered into an Agreement with a development stage biopharmaceutical
company that in-licenses and develops novel therapeutics for the treatment of
cancer, presently principally prostate cancer. The Agreement contemplates a
subsidiary of the Company merging with and into the biopharmaceutical company.
The transaction contemplates the Company remaining as a publicly-held company
(see "Management's Discussion and Analysis or Plan of Operation - Recent
Developments," on page 9).

NOTE C - ESTIMATES:

The preparation of financial statements in conformity with U.S. generally
accepted accounting principles requires management to make estimates and
assumptions that affect certain reported amounts and disclosures. Accordingly,
actual results could differ from those estimates.


                                       6
<PAGE>

NOTE D - ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Accounts payable and accrued expenses consisted of the following at September 30
and June 30, 2005:

<TABLE>
<CAPTION>
                                              September 30,             June 30,
                                                  2005                    2005
                                            ---------------          -------------
<S>                                         <C>                      <C>
           Administrative expenses          $        4,000           $       5,000
           Professional fees                        83,000                  83,000
           State and local taxes                     3,000                   2,000
                                            ---------------          -------------

           Total                            $       90,000           $      90,000
                                            ==============           =============
</TABLE>


ITEM 2.       MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

GENERAL

For several years, including the quarters ended September 30, 2005 and 2004, the
Company has engaged in no operating activities, while seeking potential
opportunities for an acquisition, sale, merger, including a reverse merger, or
other business or financial transaction.

On June 27, 2005, the Company entered into an Agreement with a development stage
biopharmaceutical company that in-licenses and develops novel therapeutics for
the treatment of cancer, presently principally prostate cancer. The Agreement
contemplates a subsidiary of the Company merging with and into the
biopharmaceutical company. The transaction contemplates the Company remaining as
a publicly-held company. (See "Recent Developments," on page 9).

There can be no assurance that this transaction will be consummated. Should it
not be consummated, the Company plans to continue as a public entity and to
actively seek other merger (including a reverse merger), acquisition and
business combination opportunities with operating businesses or other business
or financial transactions, including with a privately-held company seeking to
operate as a publicly-held company. However, there can be no assurance that this
plan will be successfully implemented. The Company believes it has sufficient
working capital to continue its efforts for more than one year. At this time,
the Company has no other arrangements, commitments or understandings with
respect to any potential merger, acquisition or business combination candidate.
The Company has not, to date, set any specific criteria or models for any such
other transaction.

Unless and until a transaction is effectuated, the Company does not expect to
have active operations. Accordingly, during such period, the Company does not
expect to achieve sufficient income to offset its operating expenses, resulting
in operating losses that are expected to require the Company to use, and thereby
reduce, its cash balance.

                                       7
<PAGE>

RESULTS OF OPERATIONS

Quarter Ended September 30, 2005
Compared to the Quarter Ended September 30, 2004

The Company received fees of $10,000 during the quarter ended September 30, 2005
under a provision of the Merger Agreement discussed under "Recent Developments,"
on page 9, enabling the merger partner to extend the Merger Agreement on a month
by month basis through December 31, 2005 by paying a monthly fee of $5,000
through September 30, 2005 and $10,000 per month thereafter. The Company had no
revenues in the quarter ended September 30, 2004.

Corporate office expenses in the first fiscal quarter ended September 30, 2005
consisted of $9,000 compared to $3,000 for the same three month period in 2004,
primarily for rent, accounting, legal, reporting and stockholder expenses. The
increase was due to costs incurred in connection with the proposed merger
discussed under "Recent Developments," on page 9, and an over-accrual of
expenses in fiscal 2004 which was adjusted in the first fiscal quarter ended
September 30, 2004.

As a result of the fees received, the Company had net income of $1,000 in the
quarter ended September 30, 2005 compared to a loss of $3,000 in the quarter
ended September 30, 2004.

LIQUIDITY AND CAPITAL RESOURCES

The Company had cash on hand at September 30, 2005 of $45,000 compared to
$44,000 at June 30, 2005 and $62,000 at September 30, 2004. The reduction since
September 30, 2004 was due primarily to losses sustained by the Company.

The Company has no commitment for any capital expenditure. The Company's cash
requirements for the next twelve months are relatively modest, consisting
principally of rent, legal, accounting and other expenses relating to filings
required under the Securities Exchange Act of 1934, stockholder expenses and
other expenses that are expected to be incurred in its search for an
acquisition, candidate or other business or financial transaction should the
transaction discussed in "Recent Developments," below, not be consummated.

The Company believes it has sufficient working capital to continue its efforts
for more than one year. The Company does not have any arrangements with banks or
other financial institutions with respect to the availability of financing in
the future.


                                       8
<PAGE>

OFF-BALANCE SHEET ARRANGEMENTS

The Company has no off-balance sheet financing arrangements within the meaning
of Item 303(c) of Regulation S-B.

RECENT DEVELOPMENTS

On June 27, 2005, the Company entered into an Agreement and Plan of Merger (the
"Merger Agreement") by and among the Company, GVC Acquisition Corp., a Delaware
corporation and wholly owned subsidiary of the Company ("MergerCo"), and Cougar
Biotechnology, Inc., a Delaware corporation ("Cougar"), pursuant to which
MergerCo is to merge with and into Cougar, with Cougar remaining as the
surviving corporation and becoming a wholly owned subsidiary of the Company (the
"Merger").

Cougar is a development stage biopharmaceutical company based in Los Angeles,
California that in-licenses and develops novel therapeutics for the treatment of
cancer. Cougar's strategy is to license technologies that have previously been
tested in clinical trials, enabling Cougar to obtain an initial indication of
the drug's safety and biological activity in humans before committing capital to
the drug's development. Cougar does not conduct any drug discovery activities
and limits its involvement with preclinical research activity. Cougar currently
owns the rights to three clinical stage oncology drug candidates, including its
lead product candidate CB7630 (abiraterone acetate), which is being developed to
treat prostate cancer. The information in this paragraph was provided to the
Company by Cougar.

Pursuant to the Merger Agreement, the Company is to issue to the stockholders of
Cougar a number of shares of the Company's capital stock under a formula
contained in the Merger Agreement that is expected to result, upon completion of
the Merger, in Cougar's stockholders owning between approximately 96% and 98% of
the Company's issued and outstanding common stock on a fully-diluted basis
(assuming the exercise or conversion of all options, warrants and other rights
to acquire common stock), the exact percentage to be determined based upon the
number of issued and outstanding shares of capital stock (on a fully-diluted
basis) of Cougar immediately prior to the Effective Time of the Merger. At the
Effective Time of the Merger (the "Effective Time"), each issued and outstanding
share of Cougar preferred stock and common stock will convert into and be
exchangeable for a fraction of a fully paid and non-assessable share of the
Company's to be newly-designated Series A Preferred Stock, par value $.01 per
share (the "Series A Preferred Shares"), and Series B Preferred Stock, par value
$.01 per share (the "Series B Preferred Shares"), respectively, under a formula
contained in the Merger Agreement. The Series A Preferred Shares and Series B
Preferred Shares will collectively possess, upon issuance, between approximately
96% and 98% of the voting power in all matters submitted to stockholders. The
Series A Preferred Shares will not be convertible into shares of the Company's
common stock until the Company's authorized shares have been increased, as
discussed below. The Series B Preferred Shares will automatically convert into
common stock of the Company upon such increase to the Company's authorized
shares.

                                       9
<PAGE>

All warrants, options and other rights to purchase or acquire shares of Cougar
common stock outstanding immediately prior to the Effective Time of the Merger
will convert to the right to purchase the same number of shares of Series B
Preferred Shares on the same basis of conversion as will pertain to Cougar
common stock; provided that the exercise price per share of Series B Preferred
Shares under each such converted warrant or right will be equal to the quotient
obtained by dividing the exercise price per share of Cougar common stock under
each outstanding Cougar warrant or right by the applicable Exchange Ratio.

The Merger Agreement also provides that, at the effective time of the Merger,
the Board of Directors of the Company will take the following action, to be
effective upon completion of the Merger: (i) increase the size of the Board of
Directors of the Company to eight (8) persons; (ii) elect to the Board of
Directors five designees of Cougar immediately following which Bernard
Zimmerman, Gordon Banks, and Conrad J. Gunther, Jr., the present directors of
the Company, will resign from the Board of Directors so that the five designees
of Cougar will constitute the entire Board of the Company; and (iii) the
existing officers of Cougar will be elected as the Company's officers and the
officers of the Company immediately prior to the effective time of the Merger
will resign their respective offices.

Following the Merger, the Company intends to promptly seek stockholder approval
to amend its Certificate of Incorporation to (a) increase the number of
authorized shares of the Company's common stock so as to enable the conversion
of the Preferred Shares to the Company's common stock and exercise of all
outstanding warrants, options and other rights to acquire shares of common stock
in accordance with the terms of the Merger Agreement and (b) effectuate a
significant reverse split of the Company's common stock, the exact number to be
determined by the new directors of the Company.

The consummation of the Merger is subject to certain conditions set forth in the
Merger Agreement including, among other things, the continued accuracy of each
party's representations and warranties contained in the Merger Agreement,
compliance with each party's covenants and the approval of Cougar's
stockholders. Either party has the right to terminate the Merger Agreement since
closing did not occur by July 31, 2005, except that Cougar has the right to
extend the Merger Agreement for up to a maximum of five months by paying the
Company $5,000 for each month such termination date is extended. The Merger
Agreement was amended on October 7, 2005 to, among other things, increase the
amount of this payment to $10,000 per month commencing October 1, 2005. Cougar
has exercised its extension rights for the months of August, September, October
and November 2005.

There can be no assurance that the Merger will be completed.


                                       10
<PAGE>

FORWARD LOOKING STATEMENTS

Certain statements in this Report are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. When used in
this Report, words such as "may," "should," "seek," "believe," "expect,"
"anticipate," "estimate," "project," "plan," "goal," "intend," "strategy" and
similar expressions are intended to identify forward-looking statements
regarding events, conditions and financial trends that may affect the Company's
future plans, operations, business strategies, operating results and financial
position. Forward-looking statements are subject to a number of known and
unknown risks and uncertainties that could cause the Company's actual results,
performance or achievements to differ materially from those described or implied
in the forward-looking statements and its goals and strategies to not be
achieved.

These risks and uncertainties, many of which are not within the Company's
control, include, but are not limited to:

o    that the transaction described under the caption "Recent Developments,"
     above, is not consummated;

o    general economic and business conditions;

o    should the transaction described in this report under the caption "Recent
     Developments," above, not be consummated, the Company's ability to find a
     candidate for, enter into an agreement with respect to, and consummate a
     merger, acquisition or business combination or other financial transaction
     that is acceptable, both as to the candidate and as to transaction terms
     and conditions;

o    competition for transactions of the nature the Company is seeking;

o    potential future regulatory restrictions that could limit or pose
     restrictions on, or make less advantageous to potential candidates,
     transactions of the nature the Company is seeking; and

o    the availability of additional financing on satisfactory terms if a delay
     is encountered in consummating a transaction that the Company is seeking.

You are cautioned not to place undue reliance on forward-looking statements,
which speak only as of the date of this Report. The Company does not undertake
any responsibility to publicly update or revise any forward-looking statement or
report.


                                       11
<PAGE>

ITEM 3.       CONTROLS AND PROCEDURES

     As of the end of the period covered by this Report, the Company's
President, who is its principal executive officer and is also its Treasurer and
principal financial officer, evaluated the effectiveness of the Company's
"disclosure controls and procedures," as defined in Rule 13a-15(e) under the
Securities Exchange Act of 1934. Based on that evaluation, this officer
concluded that, as of the date of his evaluation, the Company's disclosure
controls and procedures were effective to provide reasonable assurance that
information required to be disclosed in the Company's periodic filings under the
Securities Exchange Act of 1934 is accumulated and communicated to management,
including that officer, to allow timely decisions regarding required disclosure.

     During the period covered by this Report, there were no changes in the
Company's internal control over financial reporting that have materially
affected, or are reasonably likely to materially affect, the Company's internal
control over financial reporting.

                           PART II. OTHER INFORMATION

ITEM 6.       EXHIBITS

 Exhibit
 Number   Description
 ------   -----------

     31   Certificate of the Principal Executive Officer and Principal Financial
          Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for
          Quarterly Report on Form 10-QSB for period ended December 31, 2003.

     32   Certificate of the Principal Executive Officer and Principal Financial
          Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to
          Section 906 of the Sarbanes-Oxley Act of 2002.


                                       12
<PAGE>

                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
this Report has been  signed  below on its behalf by the  undersigned  thereunto
duly authorized.

                                      GVC VENTURE CORP.



Date:    November 7, 2005             By:  /s/ Bernard Zimmerman
                                           -------------------------------------
                                           Bernard Zimmerman, President
                                           (Principal Executive Officer) and
                                           Treasurer (Principal Financial and
                                           Accounting Officer)


                                       13
<PAGE>

EXHIBIT INDEX

 Exhibit
 Number    Description
 ------    -----------

     31   Certificate of the Principal Executive Officer and Principal Financial
          Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

     32   Certificate of the Principal Executive Officer and Principal Financial
          Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to
          Section 906 of the Sarbanes-Oxley Act of 2002.


                                       14