Biovest Names Dr. Eduardo Sotomayor, Chair of Dept of Malignant Hematology at Moffitt Cancer Center, to its Scientific Advisory Board

Biovest Names Dr. Eduardo Sotomayor, Chair of Dept of Malignant Hematology at Moffitt Cancer Center, to its Scientific Advisory Board

May 29, 2012

TAMPA, Fla. & MINNEAPOLIS--(BUSINESS WIRE)--Biovest International, Inc. (OTCQB: BVTI), a majority-owned subsidiary of Accentia Biopharmaceuticals, Inc. (OTCQB: ABPI), today announced that Biovest has named Eduardo M. Sotomayor, M.D. to its Scientific Advisory Board (SAB). The Biovest SAB represents a group of preeminent physicians and doctors from the fields of cancer immunotherapy, immunology, bioinformatics, regulatory affairs and cell culture bio-manufacturing.

Dr. Sotomayor is a recognized visionary in the field of lymphoma research and treatment at the H. Lee Moffitt Cancer Center & Research Institute in Tampa, Florida, currently serving as Chair of the Department of Malignant Hematology and holding the Susan and John Sykes Endowed Chair for Hematological Malignancies. Dr. Sotomayor has received multiple awards including the Lymphoma Research Foundation (LRF) Fellowship Award and the LRF Junior Faculty Award, as well as continued Research Project Grant (R01) funding during the past 12-years from the National Institutes of Health (NIH) to support his basic/translational work in the field of immunobiology and immunotherapy of B-cell lymphomas. He is also a member of the LRF Mantle Cell Lymphoma Consortium and serves on the Advisory Board of several academic institutions.

Samuel S. Duffey, Biovest's President & CEO, stated, ""We were highly pleased and honored to have Dr. Sotomayor actively participate in our recent advisory meetings in the EU to discuss BiovaxID with the European national regulatory health authorities. Throughout our regulatory process, Dr. Sotomayor has provided Biovest with an authoritative and expert clinical viewpoint on the use of cancer vaccine immunotherapy in the treatment of lymphoma. We anticipate that his pioneering efforts in the field will translate into highly productive future projects in support of our growing relationship with the Moffitt Comprehensive Cancer Center."

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, 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.

Contacts

Biovest International, Inc.
Douglas Calder, 813-864-2558
Vice President, Strategic Planning & Capital Markets
[email protected]

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