Biotech News - InNexus Enters R&D Agreement Targeting Cancer with BioInvent of Sweden IXS

InNexus Enters R&D Agreement Targeting Cancer with BioInvent of
Sweden, Appoints New Chairman of the Board of Directors
Sep 27 2006

InNexus Biotechnology, Inc. an innovative antibody-driven drug
development company, today announced that it has entered into an R&D
agreement with BioInvent International AB, a publicly-traded biotech
firm, for the provision of InNexus' SuperAntibody(TM) Technology
with a BioInvent therapeutic antibody, targeting cancer. Under the
agreement the Parties will perform collaborative R&D aimed at a
single target. The agreement also contains terms for future drug
development including commercialization. Financial terms of the
transaction were not disclosed.

InNexus also announced today that its Board of Directors has
appointed Jeff Morhet Chairman of the Board, to lead the company's
growth and drug development strategy. Mr. Morhet serves as the
President and CEO of InNexus and has extensive experience in the
pharmaceutical industry.

Commenting on the agreement with BioInvent, Mr. Morhet, President,
CEO & Chairman of InNexus said, "We are delighted to be entering
into this relationship with BioInvent as our extensive antibody
enhancement experience underpins all of our technologies. This
enables us to offer state of the art support to pharmaceutical and
drug development companies as we seek to increase antibody potency,
an achievement already demonstrated with other multiple fully human
and humanized antibodies. The impact of such a demonstration is to
not only produce a more effective drug candidate but to also use
less drug, a key to the drug's cost of goods and profit."

Mr. Morhet concluded, "This agreement also demonstrates InNexus'
ability and commitment to develop SuperAntibody(TM) Technology into
commercial product opportunities internally and for our partners."

About InNexus

InNexus is an innovative antibody-driven drug development company
that has developed two technology platforms, SuperAntibody(TM) and
TransMAbs(TM), which improve the potency of existing antibody
products while opening new markets and disease applications. Both
platforms utilize unique, novel and patented methods and
technologies of InNexus. InNexus is headquartered in Scottsdale,
Arizona on the campus of The Mayo Clinic and has its own in-house
developmental facilities. These development facilities provide
validation of protein and peptide discoveries, enabling InNexus (and
its strategic partners) to advance novel drug therapeutics and
diagnostics. To learn more about InNexus, please visit
www.innexusbiotech.com.

About BioInvent

BioInvent International AB, listed on the O list of the Stockholm
Stock Exchange (SAX:BINV), is a research-based pharmaceutical
company that focuses on development of antibody-based drugs. The
Company is running innovative drug projects within the areas of
thrombosis, oncology, atherosclerosis, ophthalmic diseases and HIV.
The Company, which currently has 99 employees, is located at Ideon
in Lund, Sweden.

This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements are not historical facts and are subject to risks
and uncertainties which could cause actual results and the timing of
certain events to differ materially from those set forth in or
implied herein including, without limitation, risks associated with
clinical development, regulatory approvals, product
commercialization, intellectual property claims litigation and other
risks associated with the company's proposed activities.

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