InNexus Biotechnology Amends Collaborative Agreement with the National Cancer Institute (NCI)

InNexus Biotechnology Inc. (TSX: IXS.V) (www.ixsbio.com), a leading drug development company commercializing the next generation of antibodies based on its groundbreaking Dynamic Cross Linking (DXL™) technology, today announced the Company and the National Cancer Institute (NCI), part of the U.S. National Institutes of Health (NIH), have amended the Collaborative Agreement announced on May 27, 2010, involving research on technologies developed by InNexus.

"Under the existing collaborative agreement, the NCI will continue to evaluate our proprietary technology as applied to certain immunotoxins currently in development at the NCI,” said Dr. Thomas Kindt, Chief Scientific Officer of InNexus. "Under the amended agreement we will receive additional immunotoxins for modification in our own facilities to enhance activity and function and the NCI will evaluate the modified immunotoxins against unmodified product.”

Jeff Morhet, InNexus CEO, said, "Work will now be conducted in both houses, and our R&D effort is expanded. Our scientists are excited to apply InNexus technology to the NCI’s anti-cancer compounds (immunotoxins) in our laboratories. These modified products will be tested by the NCI for activity against tumor cells in comparison with the unmodified compounds giving independent evaluation of our new technology.”

InNexus Resources

• AACR 2009 Scientific Poster on DXL625™

• DXL™ Pipeline & Programs

• Stock Quick Check

• Scientific Advisory Board

• Leadership Team

About InNexus Biotechnology

InNexus is a leading drug development company commercializing the next generation of monoclonal antibodies based on its DXL™ and Transmab™ technology to improve the potency of existing antibodies and to develop novel antibodies based on the unique and patented methods and technologies of InNexus. InNexus has its own in-house developmental (GLP) and manufacturing (GMP) 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.