InNexus Biotechnology Receives 2008 Frost & Sullivan Innovation of the Year Award

Business Wire,  May 7, 2008  

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BRITISH COLUMBIA, Canada -- InNexus Biotechnology Inc. (OTCBB:IXSBF) (TSX VENTURE:IXS) (www.ixsbio.com), a drug development company commercializing the next generation of monoclonal antibodies, today announced that it has been awarded the 2008 Frost & Sullivan Therapeutic Monoclonal Antibodies Technology Innovation of the Year Award for its Dynamic Cross Linking (DXL[TM]) technology.

"We are pleased to accept this award for our DXL[TM] technology and anticipate many new innovative products to emerge in the near future from this technology," said Jeff Morhet, CEO and Chairman of InNexus Biotechnology.

Pablo Legorreta, Chief Executive Officer of Royalty Pharma stated, "I'm pleased with the progress InNexus has made and the focus and determination of Jeff and the InNexus Team. He has developed a world-class team and our two preclinical programs are on track and progressing as scheduled." He continued, "We look forward to InNexus filing the IND for DXL625 in 2009."

The Frost & Sullivan Award for Technology Innovation of the Year is presented to the company that has demonstrated technological innovation within its industry. This Award recognizes the ability of the company to successfully develop and introduce new/disruptive technology, formulate a well-designed product family, and make significant technology contributions to the industry.

This award will be presented November 12th at The Frost & Sullivan 2008 Excellence in Pharmaceuticals & Life Sciences Awards Banquet in San Antonio, TX.

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About InNexus

InNexus is a drug development company commercializing the next generation of monoclonal antibodies based on its DXL[TM] technology, which improves the potency of existing antibody products while opening new markets and disease applications. DXL[TM] antibodies utilize unique, novel and patented methods and technologies of InNexus.

InNexus is headquartered in British Columbia with principal management based in Scottsdale, Arizona on the campus of Mayo Clinic and has its own in-house developmental facilities. These development resources 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.ixsbio.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements that involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.

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