Biovest International, Inc. (OTCQB: BVTI), a majority-owned subsidiary of Accentia Biopharmaceuticals, Inc. (OTCQB: ABPI), today announced that in response to Biovest’s notice of intent to file for marketing approval previously submitted to the European Medicines Agency (EMA), the EMA has provided formal notification that Biovest is eligible to submit its planned Marketing Authorization Application (MAA) for BiovaxID under the EMA’s centralized procedure as an orphan medicinal product for the treatment of follicular non-Hodgkin’s lymphoma. Upon approval, BiovaxID would be the first cancer vaccine available in Europe for lymphoma patients.

According to Carlos F. Santos, Ph.D., Biovest’s Senior Vice President, Product Development and Regulatory Affairs, “With EMA confirmation in hand, we are continuing to satisfy the EMA’s requirements. Under the EMA’s centralized procedure, a decision rendering approval for BiovaxID would result in simultaneous registration of our cancer vaccine in all EU-member countries. Our planned submission in Europe is in addition to our plans to file an application seeking marketing approval in Canada. Additionally, with EMA Orphan Drug designation, we will have a 10-year period of market exclusivity for BiovaxID upon approval for follicular lymphoma in the EU, thereby offering competitive protection from similar drugs of the same class.” The EMA has also granted BiovaxID Orphan Drug designation for the treatment of mantle cell lymphoma, another B-cell subtype of non-Hodgkin’s lymphoma.

In other news, an article was published in Genetic Engineering & Biotechnology News (GEN) highlighting Biovest’s proprietary biomanufacturing instruments and processes.

The article, titled, “CMOs Capitalizing on Experience to Develop Their Own Therapeutics”, includes comments from Biovest’s Vice President, Strategic Planning, Douglas W. Calder, stating, “With over three decades of experience in contract manufacturing, Biovest has managed every aspect of the life cycle (pre-clinical, clinical and commercial-stage) for protein drug production for thousands of clients, and this business unit has provided not only a source of revenues to help support our own proprietary cancer vaccine development, but more importantly with what we believe are the most innovative cell culture instruments and production techniques for the manufacture of vaccines and cell-based products, including autologous personalized medicines.”

The GEN article can be accessed in the Media Center at Biovest’s corporate website at: http://www.biovest.com/investor-relations/media-center

About Biovest International, Inc.

Biovest International, Inc. develops active immunotherapies (cancer vaccines) which treat and diminish the aggressiveness of B-cell non-Hodgkin’s lymphoma, a cancer of the immune system. The Company’s lead personalized cancer vaccine product candidate, BiovaxID®, has been evaluated in three clinical trials conducted in collaboration with the U.S. National Cancer Institute (NCI) demonstrating that BiovaxID increases the duration of cancer remission following chemotherapy and induces immune responses which correlate highly with long-term survival. Biovest is currently in the process of seeking US and international marketing approvals for BiovaxID.

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, please visit: http://www.biovest.com

Forward-Looking Statements:

Statements in this press release that are not strictly historical in nature constitute "forward-looking statements.” Such statements include, but are not limited to, statements about Biovest and its product candidate, BiovaxID® and any other statements relating to products, product candidates, product development programs, the FDA, the EMA, Health Canada 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. In particular (and without limitation), statements regarding the timing of anticipated filing of a Marketing Authorization Application for BiovaxID with the EMA or a New Drug Submission for BiovaxID with Health Canada, pre-filing meetings with the FDA or other jurisdictions and/or commercial plans reflect current expectations but are subject to inherent risks of delay in compilation and finalization of all components of the licensing application. 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.