RegeneRx Updates on Phase II Venous Stasis Trial  

BETHESDA, Md.--(BUSINESS WIRE)--Feb 26, 2009 - REGENERX BIOPHARMACEUTICALS, INC. (NYSE Alternext US:RGN) announced today that preliminary data from its Phase II clinical trial in Europe, evaluating the safety and wound-healing efficacy of RGN-137 for the treatment of patients with venous stasis ulcers, has been received and is being analyzed. RegeneRx will report data upon the completion of its analysis. The trial was conducted by Sigma-Tau Group, RegeneRx's strategic partner in Europe and its largest stockholder.

About Venous Stasis Ulcers

Venous stasis ulcers affect 500,000 to 600,000 people in the United States every year and account for 80 to 90% of all leg ulcers. They are caused by problems in the veins of the lower leg caused by leaky valves, obstructions, or regurgitation disturbing the flow of blood from the lower extremities back to the heart. The blood collects in the lower leg and damages the tissues and causes wounds. Venous ulcers are located below the knee and are primarily found on the inner part of the leg, just above the ankle. The base of a venous ulcer is usually red. It may also be covered with yellow fibrous tissue or there may be a green or yellow discharge if the ulcer is infected. Fluid drainage can be significant with this type of ulcer. The skin may also have brown or purple discoloration about the lower leg. Venous stasis ulcers are common in patients who have a history of leg swelling, long standing varicose veins, or a history of blood clots in either the superficial or the deep veins of the legs. Ulcers may affect one or both legs.

About RegeneRx Biopharmaceuticals, Inc.

RegeneRx is focused on the discovery and development of novel peptides to accelerate tissue and organ repair. Currently, RegeneRx is developing three product candidates, RGN-137, RGN-259 and RGN-352 for dermal, ophthalmic, and cardiovascular tissue repair, respectively. RegeneRx is also developing RGN-457 for use in pulmonary indications such as cystic fibrosis. These product candidates are based on Tβ4, a synthetic copy of a 43-amino acid, naturally occurring peptide, in part, under an exclusive world-wide license from the National Institutes of Health. RegeneRx holds over 60 world-wide patents and patent applications related to novel peptides and is currently sponsoring multiple clinical trials for dermal and ophthalmic wound healing and protection of heart tissue after an acute myocardial infarction.

RegeneRx Technology Background

Tβ4 is a synthetic version of a naturally occurring peptide present in virtually all human cells. It is a first-in-class multi-faceted molecule that promotes endothelial cell differentiation, angiogenesis in dermal tissues, keratinocyte migration, collagen deposition, and down-regulates inflammation. RegeneRx has identified several molecular variations of Tβ4 that may affect the aging of skin, among other properties, and could be important candidates as active ingredients in pharmaceutical and consumer products. Researchers at the National Institutes of Health, and at other academic institutions in the U.S., have published scientific articles indicating Tβ4's in vitro and in vivo efficacy in accelerating wound healing and tissue protection under a variety of conditions. Abstracts of scientific papers related to Tβ4's mechanisms of action may be viewed at RegeneRx's web page: www.regenerx.com.

Forward-Looking Statements

This press release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Examples of such forward-looking statements include statements concerning the estimated schedule for the release of data related to RegeneRx's Phase II venous stasis ulcer clinical trial and Tβ4's impact or potential impact on the treatment of dermal wounds, including venous stasis ulcers, the results of future trials involving Tβ4, and the therapeutic potential of Tβ4 for other dermal, ophthalmic and cardiovascular wounds or pulmonary indications, or its use in other pharmaceutical or consumer products. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include the risk that RegeneRx's product candidates may not demonstrate safety and/or efficacy in its ongoing or future clinical trials and other development efforts, including its trials and/or other development efforts related to RGN-137, RGN-259, RGN-352 and RGN-457, the risk that RegeneRx or its collaborators will not obtain approval to market RegeneRx's product candidates in the U.S. or abroad, the risks associated with RegeneRx's need for additional financing to meet capital requirements necessary for the further development and commercialization activities relating to RegeneRx's product candidates, the risks associated with protecting RegeneRx's intellectual property, or that RegeneRx will not be able to obtain patent protection, or that its issued patents will be infringed, and such other risks described in RegeneRx's quarterly report on Form 10-Q for the period ended September 30, 2008, and other filings RegeneRx makes with the SEC. Any forward-looking statements are made pursuant to Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, speak only as of the date made. RegeneRx undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: RegeneRx Biopharmaceuticals, Inc.
J.J. Finkelstein, 301-280-1992
jjfnk@regenerx.com

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Posted: February 2009

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