Press Room

2008 Press Releases

TSX:V - IXS
NASD OTC:BB: IXSBF

February 27, 2008

InNexus Biotechnology Inc. Announces Earnings for the Second Quarter Ended December 31, 2007

BRITISH COLUMBIA, Canada-27 February 2008-InNexus Biotechnology Inc. (OTCBB: IXSBF)(TSX VENTURE: IXS), (http://www.ixsbio.com), a drug development company commercializing the next generation of monoclonal antibodies based on its technology, Dynamic Cross Linking (DXL™),today filed its interim financial statements and management’s discussion and analysis for the second quarter ended December 31, 2007. All amounts are Canadian dollars unless otherwise noted.

The Company reported consolidated net loss for the second quarter ended December 31, 2007, of $2,047,476, or $0.05 per share, compared to a consolidated net loss of $1,271,675, or $0.04 per share, for the same quarter last year. The increased costs incurred during the 2007 quarter include significant development activities for our DXL625 (CD20) product candidate, for which we recently announced encouraging preliminary results of an invivo animal study which exhibited DXL625’s efficacy in targeting lymphoma cancer.

InNexus’ continuation of development and other operating activities into the second quarter reflects the preparation for the preclinical launch of our second DXL™ product candidate, which occurred on February 19, 2008 when we announced that DXL702 (HER2/neu) for the treatment of breast cancer was released as our second preclinical candidate. Royalty Pharma has purchased a portion of the future revenues that may be realized from this second DXL™ product on terms and conditions very similar to their interest in DXL625. The royalty interest to DXL702 was our second to be sold to Royalty Pharma, resulting in an additional cash infusion to InNexus of US$2,500,000 in February 2008.

Jeff Morhet, Chairman and CEO of InNexus, commented “We are excited to begin to see the results of the investment we have undertaken in the past 18 months become tangible as we continue to move our two product candidates through the preclinical development stages. Our recent announcements of preliminary results for the enhancement of DXL625 as well as our additional sale to Royalty Pharma of royalty rights for the development of our second candidate, DXL702 indicate that our DXL™ technology platform will produce many more opportunities for the investment made to date”.

About InNexus

InNexus is a drug development company commercializing the next generation of monoclonal antibodies based on its Dynamic Cross Linking (DXL™) technology, which improves the potency of existing antibody products while opening new markets and disease applications. DXL™ 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 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.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.

Contact:

Wade Brooksby, Chief Financial Officer
InNexus Biotechnology Inc.
480-862-7500
www.ixsbio.com