Inimex Pharmaceuticals begins First Clinical Study of an Innate Defense Regulator

    Phase 1 healthy volunteer study of IMX942 will provide human safety and
    pharmacodynamic data

    VANCOUVER, April 28 /CNW/ - Inimex Pharmaceuticals is pleased to announce
that its novel Innate Defense Regulator (IDR) IMX942 was administered to human
subjects for the first time on April 27, 2009. The healthy volunteers were
enrolled in a Phase 1 safety study of IMX942 being performed for Inimex in
Montreal with the approval of Health Canada.
    "With this transition of IMX942 into clinical development, we are looking
forward to demonstrating the safety and biological effects of our IDR drugs in
humans," explains Dr. John R. North, President and CEO of Inimex
Pharmaceuticals, Inc. "We are excited that we will soon be in a position to
test IMX942, the first of this truly innovative new class of drugs, in
patients at risk of infection; we expect to launch the first Phase 2a study
during 2010 in the USA under an Investigational New Drug (IND) application."
    Inimex Pharmaceuticals secured US$22 Million in Series B venture
financing in May 2008, providing the resources to enable the company to
conduct the first clinical trials of an IDR drug in patients and to evaluate
IDRs in a broad range of disease models. Morningside Venture Investments Ltd.
led the Series B syndicate, joined by Astellas Venture Management LLC, BC
Advantage Funds (VCC) Ltd., BDC Capital Inc., British Columbia Discovery Fund
(VCC) Inc., Canadian Medical Discoveries Fund, Inc., managed by JovInvestment
Management, Inc., Roche Venture Fund, and Working Opportunity Fund (EVCC)
Ltd., managed by GrowthWorks Capital Ltd.

    About IMX942

    IMX942 is the first of a new class of drugs known as Innate Defense
Regulators, which modulate innate defenses to improve survival, reduce
bacterial infections and suppress inflammation. IMX942 is a small,
proprietary, fully synthetic peptide that binds to an intracellular adaptor
protein and modifies the signaling network downstream of TLR, TNF, and IL-1
receptors. IMX942 has no direct anti-bacterial activity but can control the
outcome of infections caused by a broad spectrum of pathogens; in future
clinical studies it will be developed for control of infections in high risk
patients in the hospital setting.

    About Inimex Pharmaceuticals

    Inimex Pharmaceuticals Inc. is a privately held biopharmaceutical company
dedicated to the discovery, development, and commercialization of new
medicines based on the selective modulation of the innate immune response.
Inimex' first in class products show promise for the safe and effective
treatment of a broad spectrum of serious medical conditions, including
infectious diseases and inflammatory disorders. For more information, please

For further information:

For further information: Inimex Pharmaceuticals Contact: Curve
Communications, Laura Murray, Media Relations, T: (604) 684-3170 ext 112, C:
(604) 306-0027,

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