IR BioSciences Holdings, Inc. to Collaborate with Leading Clinical Services Company to Evaluate Radilex(TM) in Low-Level Radiation Exposure

SCOTTSDALE, Ariz., Feb. 26 /PRNewswire-FirstCall/ -- ImmuneRegen BioSciences, a wholly owned subsidiary of IR BioSciences Holdings, Inc. announced today that it has entered into an agreement with The Translational Genomics Research Institute (TGen), a non- profit organization focused on developing earlier diagnostics and smarter treatments. The parties will collaborate to identify and develop innovative solutions to mitigate the side-effects of radiation therapy in cancer patients using ImmuneRegen's proprietary compound Radilex(TM). The parties believe that the solutions, based on completed and ongoing animal and cell culture studies, may also mitigate the effects of non-therapeutic radiation exposure. Radilex(TM) has already demonstrated through animal studies the potential for treatment of acute radiation syndrome (ARS) following lethal doses of radiation. Non-therapeutic radiation exposures might result following the explosion of a radiological dispersion device ("dirty bomb") or nuclear weapon.

"It is our mission to participate in the identification and accelerated development of treatment modalities for cancer patients," said Stephen Gately, Director, Non-clinical Development at TD2. "We are enthusiastic and pleased to be working with ImmuneRegen on these promising applications for bio-defense and toxic therapy radiation exposure."

"Based upon the promising results we have seen with Radilex to date in high-dose radiation exposure, we believe that the potential exists to apply the compound to the treatment of low-level radiation exposure, which represents a much larger market. We are excited to explore a number of potential applications in the area of oncology, this being the first," said Michael Wilhelm, ImmuneRegen CEO.

Recently, ImmuneRegen announced that it had retained Battelle, the world's largest independent research and development organization, as an accredited testing facility. Battelle will perform additional specialized laboratory services supporting additional studies of the biological and radiological effectiveness of Radilex(TM).

About TD2

TGen Drug Development Services (TD2), helps investigators from research institutions, biotech and pharmaceutical companies evaluate the efficacy of their drug candidate by using preclinical models, genomic tools and coordination of Phase I clinical trials at various clinical facilities, including Mayo Clinic Scottsdale, Scottsdale Healthcare, the Arizona Cancer Center, and U.S. Oncology. TD2 also provides central coordination of an international team of investigators who are conducting studies in patients with pancreatic cancer. Although initially focused in oncology, TD2 expects to expand its capabilities to other disease areas including neurological diseases and diabetes.

About TGen

The Translational Genomics Research Institute (TGen), a non-profit 501(c)(3) organization, is focused on developing earlier diagnostics and smarter treatments. Translational genomics research is a relatively new field employing innovative advances arising from the Human Genome Project and applying them to the development of diagnostics, prognostics and therapies for cancer, neurological disorders, diabetes and other complex diseases. TGen's research is based on personalized medicine and the institute plans to accomplish its goals through robust and disease-focused research.

About Radilex(TM) and Viprovex(TM)

Radilex(TM) is the trade name used in referring to formulations of Homspera for potential indications for treatment of exposure to ionizing radiation. Viprovex(TM) is the trade name used in referring to formulations of Homspera for potential indications for treatment of viral and bacterial infections. Homspera is a generic name used by the Company to describe the synthetic peptide Sar9, Met (O2)11-Substance P. Sar9, Met (O2)11-Substance P is an analog of the naturally occurring human neuropeptide Substance P, which can be found throughout the body, including in the airways of humans and many other species. All of the Company's research and development efforts are early, pre-clinical stage and Homspera, as Viprovex(TM) and Radilex(TM), has only undergone exploratory studies to evaluate its biological activity in small animals.

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 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 subsequent investigations were limited in scope, 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 and monies available for further studies, capital market conditions, and others set forth in the Company's periodic report on Form 10-QSB for the three months ended September 30, 2006 and on Form 10-KSB for the twelve months ended December 31, 2005 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.

MEDIA CONTACT: W. Jason Grimley Spelling Communications 310-477-9500 jgrimley@spellcom.com INVESTOR CONTACT: Josh Reynolds CEOcast, Inc. 212-732-4300 jreynolds@ceocast.com

CONTACT: Media - W. Jason Grimley, Spelling Communications,+1-310-477-9500, jgrimley@spellcom.com, or Investor - Josh Reynolds,CEOcast, Inc., +1-212-732-4300, jreynolds@ceocast.com, both for ImmuneRegenBioSciences, Inc.

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