ImmuneRegen BioSciences, Inc. Plans Response To Upcoming Department of Health and Human Services RFP For Advanced Development Of New Antiviral Agents For Influenza

SCOTTSDALE, Ariz., May 31 /PRNewswire-FirstCall/ -- Research and development bio-pharmaceutical company, ImmuneRegen BioSciences, a wholly owned subsidiary of IR BioSciences Holdings, Inc. , announced today that it is preparing to respond to the Department of Health and Human Services' (DHHS) request for proposal (RFP) titled Advanced Development of New Antiviral Agents for Influenza.

According to the Presolicitation Notice, issued on May 15, 2006, the DHHS, through the Office of Public Health Emergency Preparedness and Office of Research and Development Coordination, will consider awarding single or multiple contracts to companies with compounds that show potential for the treatment and prevention of pandemic and seasonal influenza. Any DHHS contracts awarded will support the advanced research and development of the selected compounds as well as their production at one or more Food and Drug Administration (FDA)-licensed manufacturing facilities. Incremental multi-year funding for cost-reimbursement contracts will be provided to support this effort for an anticipated period of up to five years. The DHHS has stated they are particularly interested in the advanced development of new influenza antiviral agents designed to affect different targets of influenza virus infection.

ImmuneRegen plans to submit their proposal by July 18, 2006 and will include the latest findings on its proprietary compound, Viprovex(TM) in regards to the potential treatment of influenza. ImmuneRegen's formal response will contain results from past studies, including completed pre-clinical testing on the Hong Kong influenza virus (A/Hong Kong/8/68, of the H3N2 type).

About ImmuneRegen BioSciences, Inc.

IR BioSciences Holdings Inc., through its wholly owned subsidiary ImmuneRegen BioSciences, Inc., is a development stage biotechnology company focused on the research and development of Homspera(TM) and its derivatives Radilex(TM) and Viprovex(TM), which are designed to be used as countermeasures for multiple homeland security bioterrorism threats. Homspera is derived from modified Substance P, a naturally occurring peptide immunomodulator and homeostatic compound with the dual effect of improving pulmonary function and the stimulation of the human immune system. For more information, please visit the company's website at www.immuneregen.com.

Statements about the Company's future expectations, including statements about the potential for the Company's drug candidates, science and technology, and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. These future events may not occur as and when expected, if at all, and, together with the Company's business, are subject to various risks and uncertainties. The Company's actual results could differ materially from expected results as a result of a number of factors, including the fact that preliminary results involved only a small number of test mice, the uncertainties inherent in research and development collaborations, pre-clinical and clinical trials and product development programs, (including, but not limited to the fact that future results or research and development efforts may prove less encouraging than current results or cause side effects not observed in current pre-clinical trials) the evaluation of potential opportunities, the level of corporate expenditures, capital market conditions, and others set forth in the Company's periodic report on Form 10-Q for the three months ended March 31, 2006 as filed with the Securities and Exchange Commission. There are no guarantees that any of the Company's proposed products will prove to be commercially successful. The Company undertakes no duty to update forward-looking statements.

Contact: W. Jason Grimley Spelling Communications 310-477-9500 jgrimley@spellcom.com

CONTACT: W. Jason Grimley of Spelling Communications, +1-310-477-9500,jgrimley@spellcom.com, for ImmuneRegen BioSciences

Web site: http://www.immuneregen.com//