Business Wire - June 7, 2002

Monoclonal antibody 1F7 was generated to pooled, human antibody to HIV in 1991 and characterized and developed by Drs. Sybille Muller and Heinz Kohler of ImmPheron, Inc. of Lexington, KY. who are also collaborators in the development of SAT. 1F7 has profound effects on the function of the immune system and the action of immune cells in chronic viral disease. Numerous studies in vitro and in animal models such as the simian HIV model, indicate that 1F7 may be able to increase the ability of the immune system to generate antibodies against HIV, even after the virus mutates, and restore the immune system's effectiveness. In a recent publication (J. Med. Virol. 66:13-21, 2002), 1F7 was shown to react to antibodies from patients infected with Hepatitis C, extending the potential therapeutic benefits of the antibody to that disease and to perhaps other chronic viral diseases.

Utilizing SAT, 1F7 will be converted into a SuperAntibody for clinical development. SAT is the next-generation technology platform for monoclonal antibodies, able to increase their strength of binding and allow them to cross-link their target antigen. This can result in triggering "apoptosis" or cell suicide or the enhancement of complement-dependent or immune cell killing of pathogens, viruses or tumor cells. The technology platform can also be used to confer novel properties to antibodies such as the ability to penetrate cells and bind to intracellular targets such as virus components (before assembly), and can allow antibodies to be converted into vaccines. SuperAntibody properties can be engineered into any antibody through sites within the framework of the hypervariable region (antigen-binding). As such, the technology can be utilized with second generation, human or "humanized" antibodies and genetically engineered antibody fragments including ScFv. In the case of 1F7, SAT will be used to create a humanized, IgG antibody with the ability to crosslink and trigger apoptosis or cell suicide of 1F7 positive B-cells, its proposed mechanism for regulation of the immune system.

Further to a Letter of Agreement dated May 27, 2002, the Company has agreed to acquire SAT rights to 1F7 in a sublicense from Immune Network Ltd. and the Sydney Kimmel Cancer Center (San Diego), including rights to four issued U.S. patents, in exchange for an upfront license fee, ongoing research and development support and a single digit royalty. This new agreement completes the intent of an original Sublicense Option Agreement between the two companies and supercedes that original agreement.

Dr. Charles Morgan, President and CEO of InNexus said, "This Sublicense Agreement with IMM enables the combination of an antibody, with tremendous therapeutic potential for incurable diseases, together with a technology that potentiates antibody activity and increases the probability of an antibody completing clinical development and gaining product approval."

In a separate statement, the Company announced that Dr. Charles Morgan, its Founder and President, has been invited to speak at 9:10 am, June 18th, 2002 at the Third Annual SMI Conference on Therapeutic Antibodies in London, England. His presentation will be entitled "The next generation of antibody therapeutics."

About InNexus

InNexus is developing the next generation of therapeutic, monoclonal antibodies using the SuperAntibody Technology Platform. InNexus intends to apply this technology to improve the potency of existing antibody products while opening new markets and disease applications with other forms of SuperAntibodies. InNexus will develop the technology through partnerships with biotechnology and pharmaceutical companies while pursuing its own products for unmet medical needs. InNexus is in the process of listing on the TSX Venture Exchange, an affiliate of the Toronto Stock Exchange, through its proposed merger with Cusil Venture Corp. (TSX Venture Exchange:CUS.V). To learn more about InNexus Corporation please visit the Company's website: www.innexuscorp.com

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts and are subject to risks and uncertainties which could cause actual results and the timing of certain events to differ materially from those set forth in or implied herein including, without limitation, risks associated with clinical development, regulatory approvals, product commercialization, intellectual property claims and litigation and other risks associated with the Company's proposed activities.

InNexus Contact:

Gail Thurston, V.P. Corporate Development

Telephone (toll-free): 1- 877-990-8382

Fax: (425) 696-0068

Email: gthurston@innexuscorp.com

URL: www.innexuscorp.com SOURCE: InNexus Corporation

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