PRIVATE PLACEMENT OF CONVERTIBLE PREFERRED SHARES FOR $2.5 MILLION

InNexus Biotechnology, Inc. (the "Company") has negotiated a private placement with U.S. institutional sources led by SDS Capital Group SPC, Ltd. as a principle investor. The financing will enable the Company's business plan for the continued development of the Company's SuperAntibody and TransMab technologies.

Canada NewsWire Group (http://www.newswire.ca/en/releases/archive/August2005/08/c7909.html)