RegeneRx Biopharmaceuticals, Inc. (OTCBB:RGRX) reported today that a paper published in the most recent edition of the scientific journal, Current Eye Research, Sosne et. al., 2002, 24(4):268-273, presented new data indicating that Thymosin Beta 4 (Tß4) could aid in the repair of injuries to the human eye and surrounding tissues.

Dr. Gabriel Sosne, in collaboration with Dr. Michelle Kurpakus-Wheater, at the Kresge Eye Institute, Detroit, MI, reported that administration of Tß4 stimulated conjunctival epithelial cell migration in a dose-dependent manner compared to a control compound, in vitro. This activity results in increased extracellular laminin-5 deposition, which is associated with epithelial cell migration and wound repair in the eye, among other tissues.

"By increasing laminin-5 deposition, Tß4 is theoretically able to positively impact the speed and quality of corneal healing. These observations provide further insight into the mechanism of action of Tß4 related to healing of eye injuries, although human clinical trials will be necessary to prove clinical efficacy," according to Dr. Sosne.

Today's publication is the third by Sosne showing the activity of Tß4 and its potential value in the treatment of ocular injuries. Over the past eighteen months, he has also published papers in the journal, Experimental Eye Research, on the efficacy of Tß4 after alkali and heptanol abrasion injuries to the eye, both with positive results. After the second study Dr. Sosne concluded that, "Tß4 may provide a new clinical treatment for severe traumatic corneal wound disorders by promoting rapid corneal wound healing…"

RegeneRx Biopharmaceuticals, Inc., Bethesda, MD, holds an exclusive worldwide license for Tß4 from NIH for wound healing and is developing it for the treatment of a variety of human diseases. Tß4 is a naturally occurring 43-amino acid peptide that regulates actin and down-regulates certain inflammatory cytokines, both of which are involved in the complex wound healing cascade. The Company holds several patents related to its technology and has numerous patent applications pending. Phase I human clinical trials for chronic dermal wounds are planned for later this year.

The information in this press release may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements concern the Company's current expectations regarding future events, including the ongoing and prospective development and commercialization of Tß4 and possible future benefits to the Company, its shareholders, and patients. Due to the nature of product development and the regulatory approval process, the forward-looking statements contained in this press release are subject to risks and uncertainties, including those reflected in the Company's filings with the Securities and Exchange Commission, particularly its most recent Annual Report on Form 10-KSB. The Company assumes no obligation to update or revise any forward-looking statements made herein or any other forward-looking statements made by the Company.

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