TAMPA, Fla. and MINNEAPOLIS--(BUSINESS WIRE)--Biovest International, Inc. (Pink Sheets: BVTI) today announced that the Company filed its proposed Plan of Reorganization (“Plan”) with the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division. With this filing, Biovest is positioned to emerge from Chapter 11 protection this summer as a fully restructured company. Upon Court-ordered confirmation, the Plan of Reorganization is expected to support the planned commercialization of BiovaxID®, Biovest’s personalized cancer vaccine intended to treat certain B-cell lymphomas with an initial indication of follicular non-Hodgkin’s lymphoma (fNHL). The Company is preparing to seek U.S. and international regulatory approvals for BiovaxID based on the positive outcomes from two Phase II trials and its Phase III fNHL trial which demonstrated statistically significant results in extending disease-free survival in vaccinated patients, as reported at the 2009 American Society of Clinical Oncology (ASCO) Annual Meeting Plenary Session.
