-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 0muNI7CovAdSh0vTd2jDbw==

<SEC-DOCUMENT>0001181431-08-054927.txt : 20080930
<SEC-HEADER>0001181431-08-054927.hdr.sgml : 20080930
<ACCEPTANCE-DATETIME>20080930170821
ACCESSION NUMBER:		0001181431-08-054927
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080926
FILED AS OF DATE:		20080930
DATE AS OF CHANGE:		20080930

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOVEST INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000704384
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				411412084
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		324 S HYDE PARK AVE
		STREET 2:		SUITE 350
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33606
		BUSINESS PHONE:		813-864-2554

	MAIL ADDRESS:	
		STREET 1:		324 S HYDE PARK AVE
		STREET 2:		SUITE 350
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CELLEX BIOSCIENCES INC
		DATE OF NAME CHANGE:	19930528

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENDOTRONICS INC
		DATE OF NAME CHANGE:	19930525

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ODONNELL FRANCIS E JR
		CENTRAL INDEX KEY:			0001066040

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11480
		FILM NUMBER:		081097824

	BUSINESS ADDRESS:	
		STREET 1:		709 THE HAMPTONS LANE
		CITY:			TOWN & COUNTRY
		STATE:			MO
		ZIP:			63017
		BUSINESS PHONE:		3145799725

	MAIL ADDRESS:	
		STREET 1:		709 THE HAMPTONS LANE
		CITY:			CHESTERFIELD
		STATE:			MO
		ZIP:			63017
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd219782.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-09-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000704384</issuerCik>
        <issuerName>BIOVEST INTERNATIONAL INC</issuerName>
        <issuerTradingSymbol>BVTI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001066040</rptOwnerCik>
            <rptOwnerName>ODONNELL FRANCIS E JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>709 THE HAMPTONS LANE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>TOWN AND COUNTRY</rptOwnerCity>
            <rptOwnerState>MO</rptOwnerState>
            <rptOwnerZipCode>63017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VICE-CHAIRMAN</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Warrant [right to buy]</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.40</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-09-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>125000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-09-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>125000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>125000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Warrant [right to buy]</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.40</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-09-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>125000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-09-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>125000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Secured Convertible Debenture</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.32</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-09-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>100000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-03-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>312500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Secured Convertible Debenture</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.32</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-09-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>100000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-03-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>312500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Warrant [right to buy]</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.40</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-09-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>156250</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-09-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>156250</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>156250</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Warrant [right to buy]</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.40</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-09-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>156250</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-09-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>156250</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Common Stock Warrant issued to the reporting person by the issuer in connection with the extension of maturity date of an unsecured promissory note by the reporting person of $100,000 dated September 11, 2007.</footnote>
        <footnote id="F2">The reporting person disposed of the security via bona fide gift to the Kathleen M. O?Donnell, Trustee Irrevocable Trust #1 FBO Francis E. O?Donnell, Jr. and disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.</footnote>
        <footnote id="F3">Reporting person converted his unsecured promissory note dated September 11, 2007 to the 15% Secured Convertible Debenture equal to the outstanding amounts owed on the unsecured promissory note.</footnote>
        <footnote id="F4">Common Stock Warrant issued to the reporting person by the issuer in connection with the 15 % Secured Convertible Debenture.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Francis E. O'Donnell, Jr.</signatureName>
        <signatureDate>2008-09-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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