InNexus Biotechnology opens Drug Development Laboratories on Mayo Clinic campus

Wednesday, November 08, 2006

Scottsdale, Ariz. - InNexus Biotechnology (TSX: IXS, OTCBB: IXSBF), a publicly held company based in Vancouver, British Columbia, moved into its newest U.S. facilities on the campus of Mayo Clinic on October 1, 2006.

The drug development firm now occupies space in the Mayo Clinic Collaborative Research Building (MCCRB), a first-of-its-kind facility that joins multiple strategic partners under one roof to collaboratively focus on developing and supporting medical research and education to help patients.

InNexus develops antibodies, with much of their research focused on creating therapies for the treatment of cancer. During 2005, the Mayo Clinic and InNexus formed a multi-year research collaboration to capitalize on the strengths of both organizations in working together to create new antibody-based therapies. Jeff Morhet, President and CEO of InNexus stated, "We are delighted to open our latest facility and share in the excitement of the MCCRB and our collaboration with Mayo."

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, Hornaday Development, and houses Mayo Research business offices, researchers and investigational labs plus offices for Mayo Clinic's strategic partners, the Translational Genomic Research Institute (TGen) and Arizona State University (ASU). The combined expertise of the various partners in research, technology, education and clinical practice will contribute to the study of diseases and to enhance patient care.

About InNexus

InNexus is an innovative antibody-driven drug development company that has developed two technology platforms, SuperAntibody™ and TransMAbs™, 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 Vancouver, British Columbia with principle management based 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.

About Mayo Clinic

Mayo Clinic is a private group practice of medicine dedicated to providing diagnosis and treatment of patient illnesses through a systematic focus on individual patient needs. As a leading academic medical center in the Southwest, Mayo Clinic focuses on providing specialty and surgical care in more than 65 disciplines at its outpatient facility in north Scottsdale and at Mayo Clinic Hospital. The 208-licensed bed hospital is located at 56th Street and Mayo Boulevard (north of Bell Road) in northeast Phoenix, and provides inpatient care to support the medical and surgical specialties of the clinic, which is located at 134th Street and Shea Boulevard in Scottsdale. To learn more about Mayo Clinic, please visit: www.mayoclinic.org

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