SOURCE: Iris Biotechnologies Inc.

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March 30, 2015 13:28 ET

Hanson McClain Filed False Reports With the Security and Exchange Commission Regarding Iris BioTechnologies

SANTA CLARA, CA--(Marketwired - March 30, 2015) - Hanson McClain Advisors, a Sacramento based financial advisory firm, has submitted a series of false filings with the Security and Exchange Commission (SEC) about Iris BioTechnologies Inc. (OTCQB: IRSB).

On January 9, 2015, Hanson McClain filed a 13F report with the Securities and Exchange Commission listing Iris BioTechnologies Inc. as a discretionary holding of Hanson McClain Advisors. 

Hanson McClain has never sold any share of IRSB. However, based on incorrect information contained in Hanson McClain's January 9, 2015 13F report, the financial media incorrectly concluded and reported that the only institutional investor in IRSB dumped 725,730 shares, or 5% of all outstanding shares in IRSB. 

These media reports led to a selling frenzy in IRSB, and the price dropped from $1.27 on January 9, 2015, to $0.15 per share, the lowest in the past year, by January 26, 2015.

Hanson McClain also filed false reports on July 7, 2014, October 8, 2014, and February 17, 2015, for the quarters ended on June 30, 2014, September 30, 2014, and December 31, 2014. In all of those reports, Hanson McClain falsely reported IRSB price at approximately 79% below the actual market prices.

Prior to Hanson McClain's false reports, IRSB value had risen on a series of good news. In April 2014, Iris was granted a key patent, which could be worth at least hundreds of millions of dollars. In the same month, Iris was recognized with the IAIR Award for the Best Company for Leadership in Personalized Medicine in North America. On June 18, 2014, IRSB reached $4.50 per share.

Commenting on the false reporting, Iris CEO Simon Chin stated, "The Company has retained counsel and is looking into what should be done next regarding Hanson McClain. In the meantime, we continue to focus on our product launch."

Iris will report Hanson McClain's activities to the SEC.

About Iris BioTechnologies Inc.

Iris BioTechnologies Inc. (OTCQB: IRSB) is a life sciences company focused on providing accurate, affordable precision healthcare, which is the future of medicine. Iris offers the best approach to the treatment of cancer and other diseases through actionable integration of molecular profiling in the clinical decision-making process. In the treatment of cancer, we can achieve precision analysis of chemotherapy effectiveness as well as risk of recurrence. We accomplish this by incorporating DNA, RNA and protein analysis with a patient's medical records, family medical history, life style and environmental exposures. By analyzing the totality of who a patient is Iris can offer physicians the necessary information to assist their patients in determining the best medical treatment regimen before the treatment even begins. Iris enables personal precision healthcare by matching patient to targeted treatments, and in some cases, including therapies in clinical trials.

The Iris Nano-Biochip product pipeline includes: CancerChip, PrenatalChip, Integrated Blood Test, IVF applications, NeuroChip (Alzheimer's and Parkinson diseases), MetabolicChip (Diabetes), CardioChip, and Chips for veterinary, agricultural (e.g., biofuel development), environmental, and other applications. The Iris BioWindows artificial intelligence system provides big data and analysis for clinical applications, drug development, and stem cell research.

For more information on Iris BioTechnologies Inc., please visit Iris on Facebook (https://www.facebook.com/irisbiotech), Twitter (https://twitter.com/irisbiotech), and the Iris corporate website (www.irisbiotech.com).

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