ROCKVILLE, Md., Nov. 6, 2014 /PRNewswire/ -- RegeneRx Biopharmaceuticals, Inc. (OTCQB: RGRX) ("the Company" or "RegeneRx") today announced that the Company has retained Alan Klein, MBA, on a part-time basis as Chief Business Officer (CBO) primarily responsible for product licensing, in particular RGN-352, as well as financing initiatives, commercialization modeling, grant applications, and intellectual property development. Mr. Klein previously held senior positions at public and private companies, including Quintiles International, Gene Logic, and Sequella Inc. He has been responsible for generating numerous out-licensing, in-licensing, and M&A transactions, valued at over $1 billion in aggregate, with major biotech and pharmaceutical companies throughout the world.
"We are excited to bring Alan on board. His extensive experience and success executing licensing transactions with large biotech and pharmaceutical companies, as well as his general experience within biopharma, will be of significant benefit to our company," said J.J. Finkelstein, President and Chief Executive Officer.
On October 31, 2014, Dane Saglio submitted his resignation as Chief Financial Officer of the Company. Mr. Saglio and the Company have entered into a Consulting Agreement, dated November 1, 2014, pursuant to which Mr. Saglio will perform the duties of principal financial officer of the Company until the filing of the Company's Quarterly Report on Form 10-Q for the third fiscal quarter of 2014. Mr. Saglio will remain as a consultant to the Company after the filing date.
"Although we are disappointed Dane will be taking a position at another firm, we appreciate the fine work he did during his tenure at RegeneRx. I am please he will continue working with us as a consultant on a part-time basis in order to support certain SEC, accounting, and other financial matters. We wish him well with his new position," stated Mr. Finkelstein.
About RegeneRx Biopharmaceuticals, Inc. (www.regenerx.com)
RegeneRx is focused on the development of a novel therapeutic peptide, Thymosin beta 4, for tissue and organ protection, repair and regeneration. RegeneRx currently has three drug candidates in clinical development for ophthalmic, cardiac, CNS and dermal indications in the U. S. and through strategic licensing agreements in China, the EU, and in other Pan Asia countries, including Korea, Japan and Australia, and has an extensive worldwide patent portfolio covering its products.
Any statements in this press release that are not historical facts are forward-looking statements made under the provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements concerning hiring of executive management of the Company, management's expertise, background and skills, and management's impact on operations, financing, product development and product commercialization. Any forward-looking statements 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. Please view these and other risks described in the Company's filings with the Securities and Exchange Commission ("SEC"), including those identified in the "Risk Factors" section of the annual report on Form 10-K for the year ended December 31, 2013, and subsequent quarterly reports filed on Form 10-Q, as well as other filings it makes with the SEC. Any forward-looking statements in this press release represent the Company's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. The Company specifically disclaims any obligation to update this information, as a result of future events or otherwise, except as required by applicable law.
SOURCE RegeneRx Biopharmaceuticals, Inc.