InNexus Bio Expands Team to Focus on Licensing and Partnering

CHANDLER, ARIZONA, 16 March 2011 – InNexus Biotechnology Inc. (TSX:IXS.V, www.ixsbio.com), a leading drug development company commercializing the next generation of antibodies based on its proprietary DXL™ and Transmab™ technologies, today announced the appointment of Jonathan Drutz as Business Development Director. Drutz will lead all licensing, business development and partnering initiatives and programs for InNexus’ DXL™ and Transmab™ antibody technologies

Most recently, Drutz was the President and CEO of Biodealflow, LLC, an international life science consulting firm focused on assisting life science companies worldwide to conduct strategic business transactions in the areas of licensing partnerships, venture capital financings and mergers and acquisitions. Drutz has worked on - licensing and M&A deals in the life sciences space totaling more than $400 million.  Drutz has particular expertise in the United States, Europe and Asia specializing in business development transactions focused around biologics and small molecule therapeutics. In addition to Biodealflow, Drutz worked for a Japanese life science venture capital firm as a Senior Associate and Shareholder where he was responsible for sourcing deals world-wide for funds totaling over $100 million. 

"Jonathan is a proven business development executive and a great addition to InNexus’ management team. His worldwide licensing and industry-specific experience are complementary to our company and we look forward to Jonathan developing and leading our partnering effort," said Jeff Morhet, CEO of InNexus Bio. "InNexus is developing commercial opportunities based on the expanding field of monoclonal antibodies in three markets:  ophthalmology, dermatology and oncology.   Jonathan will play an important role in helping to grow our company and meet the increasing demand for our unique antibody products."

"DXL™ and Transmab™ address a serious business issue facing any biotech or pharmaceutical organization developing new compounds," said Jonathan Drutz. "I am excited to lead business development efforts for InNexus Biotechnology Inc. by working to secure quality strategic partnerships around the highly promising DXL™ and Transmab™ platform technologies and pipeline candidates.

About InNexus Biotechnology

InNexus is developing commercial opportunities based on the expanding field of monoclonal antibodies, naturally occurring proteins that fight infection and disease, utilizing its proprietary DXL™ and Transmab™ technologies in three focus areas:  ophthalmology, dermatology and oncology.  InNexus has its own in-house developmental and manufacturing facilities, enabling InNexus (and its strategic partners) to advance novel drug therapeutics and diagnostics. InNexus is listed on the TSX Venture Exchange (TSX.V:IXS).

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, which may cause actual results or performance to differ materially from those currently anticipated in such statements.

Contact

Jeff Morhet, Chairman and Chief Executive Officer

InNexus Biotechnology Inc.

1-480-862-7500

www.ixsbio.com