ImmuneRegen BioSciences, Inc. Announces Strategic Partnership With Azopharma

SCOTTSDALE, AZ--(Marketwire - September 23, 2009) - ImmuneRegen BioSciences, Inc.®, a wholly owned subsidiary of IR BioSciences Holdings, Inc. (OTCBB: IRBS), today announced the execution of a Letter of Intent to enter a Strategic Partnership Agreement with Azopharma Product Development Group, Inc. Under the agreement, Azopharma will perform research services to further develop ImmuneRegen’s lead drug candidate Homspera®.

Under the terms of this non-binding Letter of Intent, Azopharma will provide full development services to ImmuneRegen, which include drug manufacturing, formulation development, and pre-clinical services including IND-enabling toxicology and safety pharmacology studies. Azopharma is a leading Contract Research Organization based in North America which is unique in being able to provide total product development services for the pharmaceutical, biotechnology, and medical device industries. Additionally, Azopharma scientists have experience in the development of inhaled drugs and medical devices, which is of particular importance to ImmuneRegen.

Phil Meeks, CEO of Azopharma Product Development Group, commented, “The potential benefits to humankind of ImmuneRegen’s lead compound has compelled Azopharma to undertake this strategic partnership. We are excited to undertake the development activities that will enable pre-clinical and clinical evaluation.”

The agreement, which is subject to, among other things, the completion of work scope and budget by both parties and the negotiation and signing of a definitive agreement, is expected to close within sixty days, with work to begin immediately upon closing. In exchange for the services, ImmuneRegen intends to issue a certain amount of common stock and common stock purchase warrants to Azopharma, subject to the approval of the company’s Board of Directors.

“We believe this partnership will provide the most expedited development of our lead candidate Homspera,” said ImmuneRegen CEO Michael Wilhelm. “We feel privileged to be entering this relationship with Azopharma, given their extensive experience in swiftly developing similar products.”

About Azopharma Product Development Group, Inc.

Azopharma Product Development Group, The Total Product Development Company™, is FDA registered, DEA approved and client audited on a regular basis. In product development, it comes down to the right people, their commitment and application of experience. Partnering with Azopharma provides customers with the confidence of assured success. We welcome visits to our South Florida facilities as well as our other sites to conduct audits or meet with our pharmaceutical scientists to outline a study that meets your specific needs. For more information please visit www.azopdogroup.com.

About ImmuneRegen BioSciences, Inc.

ImmuneRegen BioSciences, Inc., a wholly owned subsidiary of IR BioSciences Holdings, Inc. (OTCBB: IRBS), is a development-stage biotechnology company focused on the research, development and licensing of Homspera® and its derivatives. Homspera is an adult stem cell active compound that in study results has been shown to regenerate and strengthen the immune system and enhance wound healing. Viprovex®, a derivative of Homspera, is being developed for potential use against infectious diseases as a stand-alone or combination therapy and as a vaccine adjuvant. To advance its mission, the Scottsdale, Arizona based company has forged numerous study partnerships with industry and academic leaders, including Celgene Cellular Therapeutics, HemoGenix, Lovelace Respiratory Research Institute and Virion Systems. For more information, please visit www.immuneregen.com.

Statements about ImmuneRegen’s future expectations, including statements about the potential use and scientific results for ImmuneRegen’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. ImmuneRegen 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 ImmuneRegen’s business, are subject to various risks and uncertainties. ImmuneRegen’s actual results could differ materially from expected results as a result of a number of factors, including 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 ImmuneRegen’s periodic report on Form 10-KSB for the year ended December 31, 2008 as filed with the Securities and Exchange Commission. There are no guarantees that any of ImmuneRegen’s proposed products will prove to be commercially successful. ImmuneRegen undertakes no duty to update forward-looking statements.