Message #6 From:
NewsBot Date: July 26, 2006 09:57:00 AM
BVTI News Biovest International Appoints New Senior Advisor; New Addition Strengthens Management's Medical Expertise
WORCESTER, Mass.--(BUSINESS WIRE)--July 26, 2006--Biovest International, Inc. (OTCBB: BVTI) has appointed a new member to its Management team. Christopher Kyriakides, M.D., has been named Senior Advisor on Clinical Sciences for the Company's Biovax subsidiary.
"In accordance with the focus of our Biovax team, Dr. Kyriakides will specialize in the integration of our clinical initiatives designed to accelerate completion of the pivotal Phase 3 clinical trial for BiovaxID, a personalized biologic therapeutic cancer vaccine for the treatment of non-Hodgkin's lymphoma," said Dr. Steve Arikian, Chairman and Chief Executive Officer of Biovest, "Dr. Kyriakides is a founder and former CEO of Biovest, and we believe his appointment as Senior Advisor on Clinical Sciences will be a key strategic move for the Company. With this reunion, we are adding to the Biovest Management team years of highly relevant experience in personalized medicine."
Dr. Kyriakides was instrumental in the initial development of BiovaxID, and was directly involved in the design and implementation of the Company's current Phase III clinical program. He is Board Certified by the American Medical Association and is a Diplomate of the American Academy of Physical Medicine and Rehabilitation (AAPMR). Each year since 2003, he has been named one of America's Top Physicians by the Consumer Research Council of America.
Dr. Kyriakides commented: "I am honored to again be a part of the Biovest team, and I am most impressed with the Company's progress in automating vaccine production with the successful completion of the development of its AutovaxID device. Now, with this state-of-the-art manufacturing system in commercial production, and with BiovaxID currently in Phase 3, we will soon be able to address on a large scale the growing public health problem of life-threatening cancers of the blood stream."
About Biovest International, Inc.
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. Its 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 Web site at 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 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.
