Accentia subsidiary seeks $250,000 advance under current DIP facility

By Lisa Kerner

Charlotte, N.C., Aug. 13 - Accentia Biopharmaceuticals, Inc. debtor subsidiary Biovest International, Inc. filed an emergency motion seeking a $250,000 advance under an existing DIP financing facility with Corps Real, LLC, according to a Friday filing with the U.S. Bankruptcy Court for the Middle District of Florida.

The total amount currently advanced under the facility is $1.64 million.

Biovest needs the additional funding for general operating costs, including payroll, through the plan effective date which is expected to be Sept. 30, the filing said.

Accentia, a biopharmaceutical company based in Tampa, Fla., filed for bankruptcy on Nov. 10, 2008. Its Chapter 11 case number is 08-17795.

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