National Cancer Institute and Biovest International Partner to Develop Vaccines for B-Cell Lymphomas
PR Newswire - December 11, 2000
Biovest International announced today that it has entered negotiations with the National Cancer Institute ("NCI") for a Cooperative Research and Development Agreement ("CRADA") for the study of an idiotype tumor vaccine against non-Hodgkin's B-cell lymphoma. Under this CRADA, the Company may become a partner with the NCI to further the final testing of this personalized cancer vaccine.
The Company, anticipates committing support to continue an NCI-sponsored 570 patient Phase III clinical trial, already underway. Patients are being enrolled in this national multicenter study over a two-year period with subsequent clinical follow-up. A Phase II trial pioneered by NCI Principal Investigator, Larry W. Kwak, M.D.,Ph.D., demonstrated positive results which this Phase III trial hopes to confirm.
"Biovest is honored to take part in this historic step toward the development of personalized cancer vaccines," said Dr. Christopher Kyriakides, Biovest's Chief Executive Officer. "With our hollow fiber bioreactor technology, we are positioning the Company to be a leader in this field."
Biovest is a biotechnology company that develops, manufactures and markets cell culture systems. Its patented hollow fiber bioreactor technology has been used for production of biologicals by pharmaceutical companies and leading academic institutions worldwide for the past two decades. In addition, the company has the distinction of being designated by the National Institutes of Health, as the National Cell Culture Center for the past ten years providing cell culture services to every major research institution throughout the United States. Through its state of the art technology, Biovest continues to service the needs of research institutions, biotechnology companies and the pharmaceutical industry. The Company's expertise in hollow fiber technology puts it in a unique position to be a leader in the development and production of personalized cancer vaccines.
The information in this press release includes certain forward-looking statements concerning the Company's current expectations regarding future events including the ongoing and prospective development and commercialization of the CRADA-based vaccine. Due to the nature of the product development and the regulatory approval process, the forward-looking statements contained in this press release are subject to risks and uncertainties, including those reflected in the Company's filings with the Securities and Exchange Commission, particularly its Annual Report on Form 10-K for the year ended September 30, 1999.
