Biovest International Completes Restructuring and Emerges from Reorganization with Dr. Carlos F. Santos Appointed as CEO
WIth Balance Sheet Significantly Strengthened, Company Positioned to Pursue European Approval for Personalized Cancer Vaccine
TAMPA, Fla. & MINNEAPOLIS--(BUSINESS WIRE)-- Biovest International, Inc., a pioneer in the development of personalized cancer vaccines, today 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 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.
as for common shares I have seen or received nothing email or mail reallocating new common shares..... sounds like a hit and run........ I was very positive on this company for a very long time I beginning to believe its been a paper dragon for a very long time.... I feel like a sucker look like a sucker, must be a sucker...... your welcome
read new :
Form 8-K for ACCENTIA BIOPHARMACEUTICALS INC
long term sentiment............... #$%$
This is just disgusting, cancel everything and pick up the pieces and just shaft people. here is an excerpt from a radio interview last year.
SD: Absolutely. With our regulatory strategy, we continue to be on task and as we have said before, we expect to complete our prefiling meetings with the FDA before the end of the summer. We are really excited about meeting with the FDA and discussing with them our regulatory developments that we have. We started the development, the clinical development of BiovaxID almost 18 years ago and this has been a very significant and, I think, positive public-private partnership between Biovest and the US National Cancer Institute.
After reading it I need to wash my hands. Maybe I can't post a link? it's one med place blog 11204