updated 8/31/2010 4:46:03 PM ET 2010-08-31T20:46:03

SCOTTSDALE, Ariz., Aug. 31, 2010 (GLOBE NEWSWIRE) -- ImmuneRegen BioSciences®, a wholly owned subsidiary of IR Biosciences Holdings Inc. (OTCBB:IRBS), today announced that after review of the company's proposal outline submitted in late 2009 advocating the development of Homspera as a medical countermeasure against radiation-induced injury, the Biomedical Advanced Research and Development Authority (BARDA) has invited ImmuneRegen to submit a full proposal for a multi-year, multi-million dollar contract to develop Homspera towards FDA approval. BARDA supports the development of diagnostics and therapeutics to counter Chemical, Biological, Radiological and Nuclear (CBRN) threats as well as Pandemic Influenza/Emerging Infections to the United States.

ImmuneRegen has partnered with Dr. Jacob Finkelstein at the University of Rochester Medical School, in the preparation of the White Paper outline and in subsequently preparing the full joint submission seeking funding to further develop Homspera® as a post-exposure therapy for injury resulting from ionizing radiation exposure, expanding on research ImmuneRegen has previously performed demonstrating efficacy of Homspera in treating pulmonary injury as well as mitigating acute effects, including the hematopoietic (blood-cell related) syndrome, resulting from exposure to ionizing radiation.

ImmuneRegen, and partner, will submit a full proposal requesting funding to further develop Homspera for the treatment and prevention of such injuries, leveraging not only the University's resources and Dr. Finkelstein's experience, but also previous experiments in which Homspera was found to be effective at mitigating certain damaging effects of ionizing radiation exposure.

"We are excited by the invitation from BARDA to submit a full proposal for the development of Homspera as a medical countermeasure against radiation-induced injury," said Michael Wilhelm, ImmuneRegen's Chief Executive Officer. "We believe we are well-positioned to receive BARDA support for this indication, as we're able to leverage both our research and development of Homspera to date and our key partnerships, like the one we have with Dr. Finkelstein at the University of Rochester, which is one of eight Centers for Medical Countermeasures against Radiation in the United States."

For this particular BAA, BARDA funding, of up to $750MM, will support advanced development and eventual licensure/approval by the U.S. Food and Drug Administration of medical countermeasures for cutaneous and/or pulmonary injuries resulting from an acute exposure to radiation from a radiological/nuclear accident or attack, particularly injuries associated with radiation exposure.

Dr. Finkelstein, a professor in the departments of Pediatrics, Radiation Oncology and Environmental Medicine at the University of Rochester Medical School, is a principal investigator at the University of Rochester Center for Biophysical Assessment and Risk Management Following Irradiation, one of the eight participating institutions of the Centers for Medical Countermeasures against Radiation.

For More Information about ImmuneRegen, please visit our website: www.immuneregen.com

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