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BiovaxID Vaccine

Accentia Biopharmaceuticals, Inc.

Drug Names(s): anti-idiotype vaccine, dasiprotimut-T, Lympreva (EU)

Description: The BiovaxID cancer immunotherapy stems from work begun in 1986 on development of a patient-specific follicular lymphoma (FL) vaccine. In the vaccine's cancer target, indolent follicular B-cell lymphoma, the process is made possible by the presence of a hallmark surface antigen on the cancer cells that is not present in non-cancerous cells. By priming the immune system with this antigen in the form of an autologous vaccine, the vaccine induces an immune response against the cancerous cells and creates an immune memory. Importantly, the immune response triggered by the vaccine against the cancerous tissue is a natural disease-fighting mechanism and appears to be associated with minimal toxicity.

The individual patient's cancerous B-cell is identified from the biopsy sent to an Accentia manufacturing facility. The 'special marker molecule' (idiotype) on the cancerous B-cell is identified through a special process. The company takes this cell idiotype and turns it around to create a tumor-specific marker. Biovaxid is then created by a molecular process from the individuals cells with this tumor-specific marker. The lab takes the cell with the tumor specific marker and links it to a protein molecule called keyhole limpet hemocyanin (KLH). By linking it to KLH, it makes the tumor's specific marker easily recognized by the individuals own immune system.

Deal Structure: Biovest and Accentia
In December 2007, Biovest International, a majority-owned subsidiary of Accentia Biopharmaceuticals, secured an $8.5M debt financing from two of Biovest's existing secured lenders, Valens Offshore and Valens U.S. (collectively Valens) pursuant to a Note Purchase Agreement. Biovest issued secured Promissory Notes in the aggregate amount of $8,500,000 to Valens, which bear interest at Prime + 2% with a six-month term. Biovest paid closing fees and costs of approximately $300,000 and a portion of the loan proceeds was used to prepay interest and principal due to Biovest's senior secured lender, Laurus Master Fund Ltd., with the balance of the proceeds to be used for operating capital and to complete the interim analysis of the BiovaxID clinical trial data. Biovest also granted a royalty in the aggregate amount of seven percent (7%) of worldwide net sales of the BiovaxID vaccine to Valens pursuant to a Royalty Agreement.

In April 2010, as part of a...See full deal structure in Biomedtracker

Partners: Clinigen Group plc

BiovaxID Vaccine News

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