InNexus Biotechnology Inc. Announces Oversubscription of Private Placement Raised to $5 Million and Additional Equity Financing up to $7.5 Million

BRITISH COLUMBIA, Canada--(BUSINESS WIRE)--InNexus Biotechnology Inc. (OTCBB:IXSBF) (TSX VENTURE:IXS) (http://www.ixsbio.com), a drug development company commercializing the next generation of monoclonal antibodies based on its technology, Dynamic Cross Linking (DXL™), announced today that due to extensive interest in the brokered Private Placement led by Dundee Securities Corporation announced on 23 May 2008, the Company is pleased to announce that the offering has been increased to 20,000,000 units with gross proceeds of up to $5,000,000.

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