It is an object of the invention to provide novel compositions and methods utilizingimmunomodulating agents that can either stimulate or indirectly augment theimmune system or in other cases have an immunosuppressive effect. TNFR25 agonistsdisclosed herein have an anti-inflammatory and healing effect. They can be used,among other things, to treat disease caused by asthma and chronic inflammationsuch as for example inflammatory bowel diseases including ulcerative colitisand Crohn's Disease. TNFR25 antagonists disclosed herein are capableof inhibiting CD8 T cell-mediated cellular immune responses and can for example,mitigate organ or tissue rejection following a tissue transplantation. TNFR25agonists disclosed herein represent biological response modifiers that alterthe interaction between the body's cellular immune defenses and cancercells to boost, direct, or restore the body's ability to fight the cancerwhen given with tumor vaccines. TNFR25 specific immunotoxins disclosed hereinare also capable of increasing the effectiveness of a chemotherapeutic regimenby depleting a cancer patient of naturally occurring immunosuppressive cells.