InNexus Will Delay Filing Its Annual Financial Reports from October 28 to December 31, 2011

Vancouver, British Columbia--(October 28, 2011) - InNexus Biotechnology Inc. (TSXV: IXS) today announced it will delay filing its annual financial reports from October 28, 2011, to December 31, 2011.

The Company has delayed its filing due to operational constraints and has no disagreements with its auditors on accounting and financial disclosure. The company working with its auditors is currently completing its annual audit of the 2011 financial statements. The audit is expected to be completed before the end of December 2011 and when filed on SEDAR to include:

-          Audited annual financial statements for the year ended June 30, 2011, as required by Part 4 of NI 51-102;

-          Management's discussion and analysis ("MD&A") relating to the audited annual financial statements, as required by Part 5 of NI 51-102; and

-          CEO and CFO certificates relating to the audited annual financial statements, as required by National Instrument 52-109 Certification
of  Disclosure in Issuers' Annual and Interim Filings.

About InNexus Biotechnology

InNexus is developing commercial opportunities based on the expanding field of monoclonal antibodies utilizing its proprietary technologies in three focus areas: ophthalmology, dermatology and oncology. InNexus is listed on the TSX Venture Exchange (TSX.V: IXS).

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements that involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.

CONTACT:

InNexus Biotechnology Inc.
Angela Giannoccaro, Chief Financial Officer
480-862-7500
www.ixsbio.com