InNexus Announces Business Development Initiative
for DXL625, Royalty Pharma Comments
SCOTTSDALE, ARIZONA, August 5, 2009 – InNexus Biotechnology Inc. (TSX.V:IXS, www.ixsbio.com), a drug development company commercializing the next generation of antibodies based on its groundbreaking Dynamic Cross Linking (DXL™) technology, announced today that the Company will embark on a business development initiative for DXL625™ (CD20), the Company’s lead preclinical candidate for the prospective treatment of Non-Hodgkin’s Lymphoma and/or Chronic Lymphocytic Leukemia.
“We have worked hard to establish DXL625 as a superior therapeutic over Rituxan®,” said Jeff Morhet, Chairman and CEO. “We have also optimized our manufacturing process for production of clinical Phase I materials at our facility on the Mayo Clinic campus in Scottsdale, Arizona, and established safety with the successful completion of our toxicology studies last year. We are pleased to continue working toward a 2010 Investigational New Drug Application (IND) submission to the FDA.”
Royalty Pharma – the industry leader in acquiring revenue-producing intellectual property, with royalty interests in such blockbuster biopharmaceutical products as Abbott’s Humira®, J&J/Centocor’s Remicade®, Pfizer’s Lyrica®, Amgen’s Neupogen® and Neulasta®, Genentech’s Rituxan®, Gilead’s Emtriva®, Truvada® and Atripla®, and Celgene’s Thalomid® – holds a royalty interest in the DXL625 product candidate.
Pablo Legorreta, Chief Executive Officer of Royalty Pharma stated, “The recently announced successful meeting with the FDA and the agency’s expressed support for InNexus’ proposed clinical pathway for DXL625 is very encouraging. We remain supportive of InNexus’ continued development of DXL625. We are excited to have this product candidate as a part of our portfolio of royalty interests on leading biopharmaceutical products.”
InNexus Resources
AACR 2008 Scientific Poster on DXL625™
DXL™ Pipeline & Programs
Stock Quick Check
Scientific Advisory Board
Leadership Team
About InNexus Biotechnology
InNexus Biotechnology Inc. is a public biotechnology company commercializing the next generation of monoclonal antibodies based on its 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 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. InNexus Biotechnology Inc. is listed on the TSX Venture Exchange (TSX.V:IXS). 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, which may cause actual results or performance to differ materially from those currently anticipated in such statements.
Contact
Jeff Morhet, Chairman & Chief Executive Officer
InNexus Biotechnology Inc.
1-480-862-7500
www.ixsbio.com
