InNexus develops IXS312 small protein fragment as topical therapy for AMD, diabetic retinal dysplasia

InNexus Biotechnology Inc. (TSX:IXS.V)(www.ixsbio.com), a drug development company commercializing the next generation of antibodies based on its groundbreaking Dynamic Cross Linking (DXL™) technology, today announced that it has developed IXS312(VEGF), an antibody fragment with activity against the growth factor VEGF for planned use in ocular treatments.

Age-related macular degeneration (AMD) affects more than 30 million people worldwide and is the leading cause of blindness in people over 60 years of age in the US. Speaking on the announcement, Jeff Morhet, InNexus CEO said, "This is a rapidly growing market with limited options for patients. Some treatments cost greater than $15,000 annually. Our product has a novel approach, unique drug design and simplified manufacturing (cost competitive) process. We are in active discussions with several potential development partners to commercialize IXS312 and products based on our technologies."

"Vascular Endothelial Growth Factor (VEGF) is a chemical signal produced by cells that stimulate the growth of new blood vessels. Over-expression of VEGF can cause vascular disease in the retina of the eye and other parts of the body. InNexus' protein research team developed IXS312 to treat ocular diseases, without invasive application steps such as direct injection into the eye," said Dr. Thomas Kindt, InNexus CSO. "IXS312 is a small protein fragment intended for use as a topical therapy for AMD and diabetic retinal dysplasia. Our R&D program has made great progress. We originally modified the fragments to give them stability at body temperature, something very important for packaging and administration and then modified the IXS312 sequence to promote the passage of the product across cellular membrane layers. The recombinant IXS312 is expressed in good yield and was shown to be properly folded through its isolation and purification, binding its antigen target with high affinity. Development is ongoing."

Earlier this year InNexus announced it developed a novel antibody fragment product, IXSCD11a, directed at treatment of psoriasis and produced by recombinant technology identical to IXS312(VEGF).

InNexus also announced today that it is currently in discussions with multiple parties to secure financing to continue the development of its lead product, DXL625, to the completion and filing of an Investigational New Drug application (IND) with the U.S. Food and Drug Administration (FDA) as communicated during InNexus' successful meeting with the FDA in March 2009. The filing of an IND for DXL625, estimated to take 18 months following funding, triggers a payment from one of InNexus' commercial partners.