TAMPA, Fla. & MINNEAPOLIS--(BUSINESS WIRE)--Biovest International, Inc. (PINK SHEETS: BVTI), the State of Minnesota Department of Employment and Economic Development (DEED), and the City of Coon Rapids, Minnesota, today jointly announced that the State of Minnesota, the City of Coon Rapids, Minnesota, and JMS Holdings, LLC, a Minnesota real estate developer, have provided financial support to Biovest to establish Coon Rapids (a suburb of Minneapolis) as the U.S. manufacturing site for BiovaxID®, Biovest’s personalized cancer vaccine for the treatment of non-Hodgkin’s lymphoma. The total loan package is approximately $1.5 million, and this investment is earmarked to support the initial expansion of Biovest’s existing 35,000 sq. ft. bio-manufacturing facility in Coon Rapids to accommodate production for its cancer vaccine, which was developed in collaboration with the U.S. National Cancer Institute (NCI).
