Biovest International

Biovest completes restructuring, emerges from bankruptcy

Wednesday, July 17, 2013

Biovest International, a developer of personalized cancer vaccines, has emerged from Chapter 11 reorganization, formally completing its restructuring and recapitalization strategy with its reorganization plan. It has promoted Carlos F. Santos, Ph.D., to chief executive officer. Santos will lead the company’s transition from the clinical stage to the commercial stage.

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Biovest files for Ch. 11 bankruptcy protection

Friday, March 8, 2013

Tampa, Fla.-based Biovest International has filed a petition for protection under Chapter 11 of the U.S. Bankruptcy Code and a Plan of Reorganization seeking to implement a restructuring of its balance sheet that would eliminate approximately $44 million in senior secured debt held by Laurus/Valens Funds and Corp Real, while also providing up to approximately $5.6 million in new operating funding.

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