Accentia Biopharmaceuticals Acquires Exclusive License for an Additional Late-Stage Respiratory Product.

TAMPA, Fla. -- Accentia Biopharmaceuticals, Inc. (NASDAQ:ABPI) announced today that it has entered into an exclusive license with Collegium Pharmaceuticals, Inc. (Collegium) to market in the U.S., a branded intranasal steroid intended for the symptoms of seasonal and perennial allergic rhinitis. This product will be marketed by Accentia's specialty pharmaceutical division, TEAMM Pharmaceuticals. This license will expand Accentia's pipeline of innovative products for respiratory diseases and enable Accentia to enter the large intranasal steroid market. Collegium plans to file a Supplemental New Drug Application (sNDA) in 2006 for this patent-pending aqueous nasal spray formulation.

"The intranasal steroid market in the US represents approximately $2.7 billion dollars in annual sales. The primary competition for this market has been prescription non-sedating oral antihistamine products which have annual sales in excess of $4 billion dollars in the US. We anticipate that over the next several years many of the non-sedating antihistamines will migrate to the over-the-counter (OTC) marketplace. This anticipated shift in the market may benefit growth in the intranasal steroid prescription market," said Michael Heffernan, President of Collegium. "We believe that our new product will have a favorable profile within the nasal steroid market."

"This is an excellent addition to our focus on innovative products to treat respiratory diseases. Our respiratory product portfolio includes the recently announced launch of our CRSFungal Profile(TM), a unique non-invasive test for confirmation of the diagnosis of chronic sinusitis and differentiation of it from allergic rhinitis," said Martin Baum, President and COO of specialty pharmaceuticals at Accentia. "In early 2006, we expect to launch MDTurbo(TM), a unique, patented delivery device for metered dose inhalers used to treat asthma and chronic obstructive pulmonary disease. In addition, our pipeline includes an intranasal antifungal which we are developing for chronic sinusitis under an Investigational New Drug Application (IND)."

About Accentia Biopharmaceuticals, Inc.

Accentia Biopharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of late-stage clinical products in the therapeutic areas of respiratory disease and oncology. The company's SinuNase(TM) product is a novel application and formulation of a known anti-fungal to treat chronic sinusitis (rhinosinusitis) licensed from the Mayo Foundation for Medical Education and Research, and BIOVAXID(TM) is a patient-specific anti-cancer vaccine focusing on the treatment of follicular non-Hodgkins' lymphoma. BIOVAXID, which is being developed by our subsidiary Biovest International, Inc. (OTCBB:BVTI), is currently in Phase 3 clinical trial. In addition, Accentia has a growing specialty pharmaceutical business, TEAMM Pharmaceuticals, with a portfolio of currently marketed products plus a pipeline of additional products under development by third parties. For further information, please visit our web site: http://www.accentia.net

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc. is a privately held pharmaceutical company focused on the development of proprietary, late stage pharmaceutical products. These products target market opportunities through product improvement and line extension strategies protected by intellectual property (IP). Collegium applies customized pharmaceutical formulations and IP strategies to active ingredients that have been shown to be safe and effective, creating a portfolio of improved pharmaceutical products with potentially less development risk and shorter times to market. Collegium uses its broad expertise in IP development, drug formulation, manufacturing, basic science (chemistry, biology, bioengineering), marketing and clinical trials management to identify and execute product opportunities for itself and its partners. For more information, visit the Company's website at http://www.collegiumpharma.com

Forward-Looking Statements

Statements in this release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, statements about AllerNase and any other statements relating to Accentia's products, product candidates, and product development programs. Such statement may include, without limitation, statements with respect to the Company's plans, objectives, expectations and intentions and other statements identified by words such as "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Accentia's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to, risks and uncertainties related to the progress, timing, cost, and results of Accentia's clinical trials and product development programs; difficulties or delays in obtaining regulatory approval for product candidates; competition from other pharmaceutical or biotechnology companies; and the additional risks discussed in Accentia's filings with the Securities and Exchange Commission. All forward looking statements are qualified in their entirety by this cautionary statement, and Accentia undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.