InNexus Biotechnology to occupy space at research building on Mayo Clinic campus

Monday, February 13, 2006

SCOTTSDALE, Ariz. - An agreement has been finalized to pave the way for InNexus Biotechnology Inc., a publicly-held company based in Vancouver, British Columbia, to move into its new U.S. headquarters on the Scottsdale campus of Mayo Clinic.

The drug development firm will occupy space on the second floor of the Mayo Clinic Collaborative Research Building (MCCRB) following phase one of construction of its management offices, scheduled for completion by March. Phase two, comprising laboratory space, is expected to be ready in early summer 2006. The MCCRB, the first of its kind that joins multiple strategic partners under one roof, focuses on scientific discoveries to bring to the bedside of patients.

InNexus focuses on developing antibodies, specialized proteins that function within the body's immune system to defend against disease. In May 2005 InNexus and Mayo Clinic announced a multi-year research collaboration to capitalize on the strengths of both organizations in creating new antibody-based therapies.

The InNexus team is the latest of the collaborative partners to be housed in the MCCRB.

The 110,000 square-foot MCCRB facility, located south of the Mayo Clinic Building and directly north of the S.C. Johnson Research Building, opened in June 2005, The facility was funded by Scottsdale developer Tom Hornaday of Hornaday Development and houses Mayo research business offices, researchers and investigational labs and offices for its strategic partner, the Translational Genomic Research Institute (TGen). The TGen space includes its Cancer Drug Development Laboratory (CDDL) and its subsidiary, TGen Drug Development (TD2).

The combined expertise of the various partners in research, technology, education and clinical practice will contribute to the study of predisposition to disease and to enhanced patient care.

"Mayo Clinic and our partners are poised to play a leading role in these leading new fields," says Victor F. Trastek, M.D., CEO of Mayo Clinic in Arizona. "These collaborations, such as with InNexus - our newest partners - help advance our mission to provide optimal health care to patients nationally and internationally."

Scottsdale competed with Seattle, San Francisco and San Diego to house the InNexus offices and research laboratories.

Mayo Clinic Cancer Center is one of only 39 U.S. medical centers that have been named as a National Cancer Institute (NCI) Comprehensive Cancer Center. To receive this designation, an institution must meet rigorous standards demonstrating clinical excellence in treating cancer patients and scientific excellence in its research programs. Mayo Clinic Cancer Center is ranked by the NCI as one of the top 10 cancer centers in the nation, and is the only national, multi-site center with the NCI's Comprehensive Cancer Center designation. In Arizona, Mayo's clinical and research experts work together to address the complex needs of cancer patients, with a dedication to understanding the biology of cancer; discovering new ways to predict, prevent, diagnose and treat cancer; and transforming the quality of life for cancer patients today and in the future.

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