Innovus Pharma Announces the Appointment of Bassam Damaj as President & Chief Executive Officer

Innovus Pharma Announces the Appointment of Bassam Damaj as President & Chief
Executive Officer

SAN DIEGO, Jan. 22, 2013 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals, Inc.
(OTCBB:INNV) ("Innovus Pharma") today announced the appointment of Bassam
Damaj, Ph. D. to serve as President & CEO, and a member of the Board of
Directors, effective immediately. Dr. Damaj replaces Vivian Liu, who resigned
from the Company's management team. Ms. Liu will continue to serve on the
Board of Directors. Innovus Pharma will also move its corporate headquarters
from Sierra Madre, California to San Diego, California.

Before joining Innovus Pharma, Dr. Damaj served as President & Chief Executive
Officer of Apricus Biosciences, Inc., (Nasdaq:APRI) from December 2009 until
November 2012. At Apricus Bio, Dr. Damaj was responsible for the approval of
its lead drug Vitaros, a treatment for erectile dysfunction. Dr. Damaj also
signed multimillion dollar partnerships between Apricus Bio and leading
pharmaceutical companies such as Abbott, Novartis-Sandoz and Takeda. "I am
delighted to join Innovus Pharma," said Dr. Damaj. "The company has a number
of important drugs either approved or under development, and I look forward to
filling the company's product pipeline and building it into a true commercial
revenue-generating organization."

Innovus Pharma also announced that director Henry Esber Ph.D. has been
appointed Chairman of the Board. Commenting on today's news, Dr. Esber said:
"We are fortunate to be able to recruit an executive officer with Bassam's
accomplishments, expertise and identity in the marketplace. At Apricus Bio, he
successfully designed and executed on a business plan that resurrected the
Company, its technology platform and its products, and grew the Company to
over 100M in market capitalization."

Before Apricus Bio, Dr. Damaj was a co-founder of Bio-Quant, Inc. and served
as the Chief Executive Officer and Chief Scientific Officer and a Director of
Bio-Quant's board of directors from its inception in June 2000 until its
acquisition by Apricus Biosciences in June 2011. In addition, Dr. Damaj was
the founder, Chairman, President & Chief Executive Officer of R&D Healthcare,
and the co-founder of Celltek Biotechnologies. He also served as a Director of
the Board of Directors at CreAgri, Inc. and was Member of Scientific Advisory
Board of MicroIslet, Inc.

Dr. Damaj is the author of the Immunological Reagents and Solutions reference
book, the inventor of many patents and author of numerous peer reviewed
scientific publications. Dr. Damaj won a US Congressional award for the
Anthrax Multiplex Diagnostic Test in 2003. Dr. Damaj holds a Ph.D. degree in
Immunology/Microbiology from Laval University and completed a postdoctoral
fellowship in molecular oncology from McGill University.

The Company intends to describe its 2013 strategy and corporate objectives in
detail an upcoming press release.

About Innovus Pharma:Innovus Pharma is an emerging pharmaceutical company
that develops, in-licenses, acquires and markets proprietary pharmaceutical
products with unique packaging and presentation for better patient compliance
and results. The Company is headquartered at 4275 Executive Square, Suite 207,
San Diego CA 92037, T: 858-964-5123, F: 858-964-2301, www.innovuspharma.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995: With the exception of the historical information contained in this
release, the matters described herein contain forward-looking statements that
involve risks and uncertainties that may be considered to be "forward-looking
statements" within the meaning of the Securities Act of 1933 and the
Securities Exchange Act of 1934, as amended by the Private Securities
Litigation Reform Act of 1995.Forward-looking statements involve risks and
uncertainties that may individually or mutually impact the matters described
in this release for a variety of reasons, many of which are outside the
control of Innovus Pharma.These risks and uncertainties include, but are not
limited to Innovus Pharma's ability to raise sufficient capital to fund its
operations and growth strategy, the continued willingness of members of the
Board of Directors to fund the company on an interim basis, Innovus Pharma's
ability to achieve its development, regulatory, commercialization and
financial goals for its existing products, its ability to acquire additional
products, and its ability to achieve development, regulatory,
commercialization and financial goals for such additional products.Readers
are cautioned not to place undue reliance on these forward-looking statements
as actual results could differ materially from the forward-looking statements
contained herein. Readers are urged to read the risk factors set forth in the
Company's most recent annual report on Form 10-K, subsequent quarterly reports
filed on Form 10-Q and other filings made with the SEC. Copies of these
reports are available from the SEC's website or the "Investors" section of
Innovus Pharma's website at innovuspharma.com.

CONTACT: Kevin Holmes
         Chesapeake Group
         info@chesapeakegp.com
         T: 410-825-3930
 
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