[c#] How to make picturebox transparent?

GameBoard is control of type DataGridView; The image should be type of PNG with transparent alpha channel background;

        Image test = Properties.Resources.checker_black;
        PictureBox b = new PictureBox();
        b.Parent = GameBoard;
        b.Image = test;
        b.Width = test.Width*2;
        b.Height = test.Height*2;
        b.Location = new Point(0, 90);
        b.BackColor = Color.Transparent;
        b.BringToFront();

enter image description here