Biovest Completes Restructuring and Emerges from Reorganization
News Jul 18, 2013
Biovest International, Inc. has reported that the Company has successfully emerged from Chapter 11 reorganization, formally completing its restructuring and recapitalization strategy with its Plan of Reorganization becoming effective on July 9, 2013.
Biovest has also announced that Carlos F. Santos, Ph.D. has been promoted to serve as its new Chief Executive Officer. Dr. Santos will lead the Company’s efforts to transition from the clinical-stage to the commercial-stage.
With Biovest’s balance sheet significantly strengthened and virtually debt-free, the Company believes it is well-positioned to continue advancing its global regulatory strategy for BiovaxID™, including seeking European marketing approval, as well as supporting the development of its pipeline of patient-specific cancer vaccines.
“Biovest’s active immunotherapy platform heralds a new era in truly personalized immunotherapy. Clinical trials have shown that our personalized cancer vaccine, BiovaxID, increases the duration of cancer remission in patients treated following chemotherapy. Once approved, this vaccine will offer patients with lymphoma who are in remission a means to guard against the return of cancer,” stated Dr. Santos. “I am very proud and excited to take the role of CEO in leading our highly talented and capable team into the approval stage for BiovaxID.”
Biovest’s former CEO, Samuel S. Duffey, Esq., will lead a new Biovest-owned subsidiary to be formed to create special opportunities based on the Company’s proprietary biomanufacturing technology and to advance innovative anti-viral and anti-cancer new product development.
“We are extremely grateful for all of Mr. Duffey’s efforts to date on behalf of Biovest and are very excited that he has agreed to continue his involvement with the Company,” stated Dr. Santos.
In other organizational changes related to the Board of Directors, Biovest announced that current Director, Ronald E. Osman, Esq., was elected Chairman of the Board and Eugene Grin was elected as a new addition to the Board.
Mr. Grin is a principal of Valens Capital Management, LLC, a registered investment advisor based out of New York, which manages multiple private investment vehicles.
Pre-Clinical Safety in Cancer Drug Development: “Attitude to Safety Needs to Change”News
Many companies involved in cancer drug research and development need to re-think their use of safety data in helping to bring new drugs to cancer patients.
Dr Richard Knight of ApconiX will tell this month’s conference, that greater focus on pre-clinical safety should be fundamental to the development of new cancer therapies.
Understanding the Process of Cell DivisionNews
Using multiple techniques such as structural modelling, X-ray scattering, X-ray crystallography and electron microscopy, scientists have found that the Spc110 protein provides a greater function in mitosis originally believed. This information could help understand the process in human cells and the abnormalities that occur in cancer.READ MORE
Comments | 0 ADD COMMENT
Next Gen Regenerative Medicine & Tissue Engineering
May 29 - May 30, 2018