InNexus Biotechnology Inc. Reports Progress in 2010 and Outlook for 2011

Strategic Insights -

InNexus Biotechnology Inc. (TSX:IXS.V), a leading drug development company, has reported on its accomplishments and progress during 2010, as well as its outlook for 2011. The company has refocused its efforts on three distinct healthcare markets: ophthalmology, dermatology, and oncology, with multiple candidates in each opportunity. InNexus has also continued to collaborate with large pharmaceutical companies, such as the National Cancer Institute (NCI), and has made significant progress in developing its proprietary technologies, including DXL and Transmab.

Key Takeaways:

  • InNexus has refocused its efforts on three distinct healthcare markets: ophthalmology, dermatology, and oncology, with multiple candidates in each opportunity.
  • The company has continued to collaborate with large pharmaceutical companies, such as the National Cancer Institute (NCI), and has made significant progress in developing its proprietary technologies, including DXL and Transmab.
  • InNexus has successfully raised funds through a small private placement from existing investors and has been awarded a cash grant of $117,000 by the U.S. government.
  • The company has identified its most significant opportunity in its Transmab technology platform, which allows it to pursue multiple opportunities and build a diversified research and development pipeline.
  • InNexus has made multiple discoveries, including targets for Psoriasis and Age-related Macular Degeneration (AMD), and has advanced multiple product candidates for each ailment.
  • The company has considered various forms of divestiture for its DXL625 product, which has a significant cash burn rate and is waiting for FDA approval.
  • InNexus has evaluated multiple financing opportunities, including grants, loans, private placements, and other equity financing, and is exploring options to consolidate its common shares to attract investors.
  • The company has rejected multiple offers to purchase InNexus as they were not in the best interest of its shareholders.

Statistics:

  • InNexus has raised $117,000 in cash grants from the U.S. government.
  • The company has identified multiple hundred-million to billion-dollar revenue potential in each of the three market segments.
  • InNexus has a significant cash burn rate with its DXL625 product, which is waiting for FDA approval.
  • The company has multiple candidates in each of the three market opportunities, with multiple targets and prospective products being pursued.

Sources:

  • InNexus Biotechnology Inc. (www.ixsbio.com)
  • Clinical Trials Week editors via NewsRx.com
  • National Cancer Institute (NCI)
  • U.S. National Institutes of Health (NIH)