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Business Observer Friday, Jun. 1, 2012 7 years ago

Biovest plans new markets

The drug firm, maker of a personalized cancer vaccine, seeks international approval.

AMPA — In an interview with OneMedRadio, Tampa-based Biovest International Inc. says it is proceeding with plans to gain approval for its BiovaxID product in Canada and the European Union.

In a news release, the company says it plans to apply for approval to market its product in the European Union. It also plans to seek marketing approval for BiovaxID in Canada.

BiovaxID is a personalized cancer vaccine to treat follicular non-Hodgkin's lymphoma.

The company, which is a subsidiary of Accentia Biopharmaceuticals Inc., is currently seeking FDA approval for the drug in the U.S. Click here to read a Business Review article explaining its challenges to gaining approval. [link to:]

The company also announced Tuesday it has named Dr. Eduardo Sotomayor to its scientific advisory board. Sotomayor is chair of the department of malignant hematology at H. Lee Moffitt Cancer Center & Research Institute.

In a release, the company also says it recently retained investment banker Ferghana Partners to help evaluate potential partnering opportunities for the firm. The firm is publicly traded, symbol: BVTI, recent price: 45 cents.

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