Healthcare Industry News: Biovest
News Release - May 4, 2006
Biovest International Announces Addition to Senior Management TeamCompany Move Strengthens Manufacturing Expertise
WORCESTER, Mass.--(HSMN NewsFeed)--May 4, 2006--Biovest International, Inc. (OTCBB: BVTI.OB ), a biopharmaceutical company focused on the development of patient specific immunotherapeutics and automated cell culture instrumentation, has appointed Dr. James Zabrecky as Vice President for Biologics Development of its Biovax subsidiary.
From 1998 to 2005 Dr. Zabrecky was employed by Antigenics, Inc., a Lexington, MA biotechnology company focused on developing patient specific cancer immunotherapeutics. There he served as Senior Director of Scientific Affairs, Senior Director of Pharmaceuticals and Director of Analytical and Process Development. Dr. Zabrecky's responsibilities included strategic planning and coordination of product development for biological therapeutics. Dr. Zabrecky also managed all aspects of analytical and process development, formulation and product characterization.
Previously Dr. Zabrecky held positions including Associate Director of Biochemistry at Autoimmune, Inc. of Lexington, MA and Principal Investigator for Diagnostics Research at Oncogene Science of Cambridge, MA.
Dr. Zabrecky holds a Ph.D. in Biochemistry from the University of California at Berkeley and completed Post-Doctoral training at the California Institute of Technology as an NIH Post-Doctoral Fellow. He is a member of the American Society for Biochemistry and Molecular Biology and the American Association for Cancer Research. He is also an inventor on seven US Patents and the author of numerous peer reviewed scientific publications.
Carl M. Cohen, Ph.D., Chief Operating Officer of Biovest commented, "We are extremely pleased to have recruited Jim to Biovest. He brings years of highly relevant experience in the manufacture and assessment of cancer immunotherapies to our company. His broad scientific expertise including a deep knowledge of biochemical analysis and protein characterization will be essential to our forthcoming FDA submissions as we move towards approval and marketing of our BiovaxID autologous vaccine for the treatment of follicular non-Hodgkin's lymphoma. Jim will also be leading our innovative efforts to use molecular remission data to facilitate a possible early decision point in our ongoing phase 3 trial."
Biovest International is a pioneer in the development of individualized immunotherapies for life-threatening cancers of the blood system. Biovest's therapy for follicular non-Hodgkin's lymphoma, BiovaxID, is currently in a Phase 3 pivotal clinical trial at over 20 major centers in the U.S. being conducted under a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute. Biovest has been a leader in the manufacture and development of automated cell culture instrumentation for over 20 years. The Company's wholly owned subsidiary Biovax, Inc. produces the anti-cancer vaccine for the ongoing clinical trial. It's Advanced Instrumentation Division in Minneapolis is poised to introduce the innovative AutovaxID-C cell culture instrument that is expected to revolutionize the manufacture of personalized cell based therapeutics. Biovest is a publicly traded company (BVTI.OB) and a majority owned subsidiary of Accentia Biopharmaceuticals (Nasdaq: ABPI ).
For further information, please visit Biovest's website: www.Biovest.com.
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 and AutovaxID and any other statements relating to Biovest's products, product candidates, and product development programs. Such statement 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 Biovest's actual results 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 Biovest's 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 Biovest's 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.
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