Biovest Retains Ferghana Partners to Evaluate Strategic Transactions
May 16 2012 - 9:45AM
Business Wire
Biovest International, Inc. (OTCQB:BVTI), a majority-owned
subsidiary of Accentia Biopharmaceuticals, Inc. (OTCQB:ABPI), today
announced that Biovest has retained Ferghana Partners as the
Company’s strategic transaction advisor to evaluate/implement
creative financings and partnering opportunities on a regional or
global basis for BiovaxID®, its late-stage personalized cancer
vaccine for the treatment of non-Hodgkin’s lymphoma.
Ferghana is a leading specialist investment banking group
delivering high quality, senior level advice to global life science
companies for value-added corporate partnering, mergers &
acquisitions and financing transactions. To learn more about
Ferghana, please visit: http://www.ferghanapartners.com/.
About BiovaxID®
Biovest's lead drug product is BiovaxID®, an autologous active
immunotherapy (personalized cancer vaccine) for the treatment of
certain B-cell subtypes of non-Hodgkin's lymphoma, an incurable
form of blood cancer. Over the past decade, two Phase II clinical
trials and a Phase III clinical trial have demonstrated strong and
cumulative evidence with regards to BiovaxID vaccination’s safety
and efficacy. With regards to safety, all clinical trials to date
demonstrate that BiovaxID vaccination is highly safe and poses a
nearly vanishingly small toxicity risk relative to approved
anti-lymphoma agents. Moreover, BiovaxID provides substantial and
durable clinical efficacy with the Phase III clinical trial
demonstrating that BiovaxID significantly improves disease-free
survival in follicular lymphoma and the Phase II mantle cell
lymphoma clinical trial demonstrating that BiovaxID induces strong
idiotype-specific T-cell responses which strongly correlate with
highly-statistically significant overall survival.
About Biovest International,
Inc.
Biovest International, Inc. is an emerging leader in the field
of active personalized immunotherapies. In collaboration with the
National Cancer Institute, Biovest has developed a
patient-specific, cancer vaccine, BiovaxID®, with three clinical
trials completed, including a Phase III study, demonstrating
evidence of safety and efficacy for the treatment of indolent
follicular non-Hodgkin’s lymphoma.
Headquartered in Tampa, Florida with its bio-manufacturing
facility based in Minneapolis, Minnesota, Biovest is
publicly-traded on the OTCQB™ Market with the stock-ticker symbol
“BVTI”, and is a majority-owned subsidiary of Accentia
Biopharmaceuticals, Inc. (OTCQB: “ABPI”).
For further information on the Company, please visit:
http://www.Biovest.com
Forward-Looking
Statements:
Statements in this release that are not strictly historical
in nature constitute "forward-looking statements." Such
statements include, but are not limited to statements about
BiovaxID®, AutovaxID®, events occurring after dates hereof, and any
other statements relating to products, product candidates, product
development programs, the FDA or clinical study process including
the commencement, process, or completion of clinical trials or the
regulatory process. Such statements may include, without
limitation, statements with respect to the Company's plans,
objectives, expectations and intentions, and other statements
identified by words such as "may," "could," "would," "should,"
"believes," "expects," "anticipates," "estimates," "intends,"
"plans," or similar expressions. Such forward-looking
statements involve known and unknown risks, uncertainties, and
other factors that may cause the actual results of Biovest to be
materially different from historical results or from any results
expressed or implied by such forward-looking statements.
These factors include, but are not limited to, risks and
uncertainties related to the progress, timing, cost, and results of
clinical trials and product development programs; difficulties or
delays in obtaining regulatory approval for product candidates;
competition from other pharmaceutical or biotechnology companies;
and the additional risks discussed in filings with the Securities
and Exchange Commission. All forward-looking statements are
qualified in their entirety by this cautionary statement, and
Biovest undertakes no obligation to revise or update this news
release to reflect events or circumstances after the date hereof.
The product names used in this statement are for identification
purposes only. All trademarks and registered trademarks are the
property of their respective owners.