Biovest, State of Minnesota and City of Coon Rapids to Host Press Conference to Introduce New Manufacturing Facility Partnership for Cancer Vaccine
TAMPA, Fla. & MINNEAPOLIS--(BUSINESS WIRE)--Biovest International, Inc. (OTCQB: "BVTI"), the State of Minnesota Department of Employment and Economic Development (DEED), and the City of Coon Rapids, Minnesota, will hold a press conference on February 24, 2011 to detail a new public/private partnership to establish a bio-manufacturing facility in Coon Rapids as the U.S. production site for BiovaxID®, Biovest's late-stage personalized cancer vaccine for the treatment of non-Hodgkin's lymphoma (NHL). DEED Commissioner Mark Phillips and Coon Rapids' Mayor Tim Howe will speak on behalf of the State and City, respectively, and Samuel Duffey, Biovest's President, will discuss the new partnership and its benefits to Biovest.
Press Conference Details:
WHAT: Biovest press conference to introduce new manufacturing facility partnership with The State of Minnesota DEED and Coon Rapids
SPEAKERS: Mark Phillips, Minnesota DEED Commissioner
Tim Howe, Mayor of Coon Rapids
Samuel S. Duffey, President, Biovest
WHEN: Thursday, February 24, 2011 at 9:00 a.m. (CST)
WHERE: Minnesota State Capital, Rotunda
75 Rev. Dr. Martin Luther King Jr. Blvd., St. Paul
Biovest & Minnesota: A Partnership Committed to Growth
Since 1981, Biovest has manufactured biologic drug products (therapeutic & diagnostic) and bioreactor instruments for clients such as the National Institutes of Health (NIH) at its leased 35,000 sq. ft. bio-production facility in Coon Rapids (a suburb of Minneapolis), Minnesota. For approximately 16 years, Biovest operated this facility as the National Cell Culture Center for the NIH.
As BiovaxID is a late-stage vaccine product having completed a Phase III clinical trial for follicular lymphoma, and Biovest is preparing to seek U.S. and international regulatory approvals, it is anticipated that demand will require a large-scale manufacturing capability as part of Biovest's regulatory and commercialization strategy. Therefore, with financial support from the State of Minnesota's "Minnesota Investment Fund" (MIF), the City of Coon Rapids and JMS Holdings LLC, (a Minnesota real estate company and Biovest's landlord), Biovest is taking the initial steps to transform its Minnesota facility into the U.S. manufacturing site for BiovaxID, which is envisioned to ultimately lead to the creation of many hundreds of high-paying biotechnology jobs.
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 OTCQBTM 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