Bioprogress General Discussion

NEW YORK – November 24, 2006 – Inyx, Inc. (OTC BB: IYXIE), a specialty pharmaceutical company focused on niche drug delivery technologies and products, reported today that a group comprised of Inyx senior management and strategic outside investors this week approached the company’s board of directors about taking the company private. The Inyx board has formed a special committee comprised of three independent directors, which will evaluate any specific proposal. The committee will retain an independent investment-banking firm to review the fairness of any proposed offer made by the group. The group, which includes Jack Kachkar, M.D., Chairman & CEO of Inyx, and Steve Handley, President of Inyx, said that it intends to make an offer that “it believes will be in the best interests of all Inyx shareholders.” Yesterday, Dr. Kachkar informed the specialcommittee that he will work to secure new debt financing for Inyx before the group tries to finalize financing for any going-private offer.

Inyx reported that the company this week informed Westernbank Puerto Rico it intended to pay off the loan amounts owed to Westernbank by December 31, 2006; this debt now totals approximately $120 million and Dr. Kachkar has pledged a personal guarantee against a portion of that amount.

The company said it is now finalizing all of its financial statements and related information for its Form 10-Q quarterly report, which it expects to file next week.

Inyx also reported revised guidance for 2006. The company now expects revenues for the year to total approximately $85 million, up from $49.6 million in 2005, with net losses for 2006, based on two pending acquisitions now not being completed this year.