BIOVEST INTERNATIONAL APPOINTS CHIEF OPERATING OFFICER

Minneapolis, MN – November 29, 2004 – Biovest International, a biotechnology company that produces proprietary cell culture systems, biological products and individualized immunotherapies, announced today the appointment of Dr. Carl M. Cohen as Chief Operating Officer.

Dr. Cohen brings more than 25 years of biomedical research and management expertise to Biovest. He will focus on completing the development of BIOVAXID, a personalized therapeutic vaccine for Non-Hodgkin’s Lymphoma, which is in phase III of clinical development.

Dr. Cohen holds an MA and a PhD in Physics and Biophysics Research from Harvard University. Most recently, Dr. Cohen was Vice President, Research at Acumen Sciences LLC, a life sciences advisory company, where he was responsible for the planning and implementation of Acumen's Discovery Research service offerings. His experience extends to prior senior management positions held at biotechnology companies such as Vice President for Research and Development at Creative BioMolecules. Dr. Cohen served as Chief of the Division of Cellular and Molecular Biology and Acting Chair of the Department of Biomedical Research at St. Elizabeth's Medical Center of Boston.  During that same period, Dr. Cohen also held the positions of Professor of Medicine and Professor of Anatomy and Cellular Biology at Tufts University School of Medicine. 

Steven Arikian, MD, Chairman and CEO of Biovest International stated, "Biovest is at an exciting crossroad as a leader in hollow fiber bioreactor technology and a successfully ongoing phase III study of its autologous vaccine for Non-Hodgkin’s Lymphoma. Dr. Cohen is a valuable addition to our executive management team. His innovative ideas and breadth of experience will certainly accelerate our commercial development.”

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