RegeneRx Biopharmaceuticals, Inc. (OTCBB: RGRX), announced today that it is now listed on the Over-The-Counter Bulletin Board. Previously, the Company was listed only in the Pink Sheets. The OTCBB is part of the NASDAQ system and has more stringent listing requirements than the Pink Sheets.

On February 7, 2001, the Company announced that it received an exclusive license from the National Institutes of Health (NIH) for the world-wide use of Thymosin Beta 4 (Tß4) in wound healing and other related areas, patents for which were filed in 1998 by NIH. The Company intends to continue collaborating with NIH and file an Investigational New Drug application (IND) to begin human clinical trials later this year or shortly thereafter. Additionally, it is continuing to evaluate other potential clinical indications for Tß4 and may seek strategic partners to co-develop the product in these areas.

RegeneRx is a biopharmaceutical company founded in 1982 which is focused on products to treat a variety of human diseases. For the past several years researchers at the Company and the NIH's Institute of Dental and Craniofacial Research have been exploring the vital role of Tß4 in the regeneration, remodeling, and healing of chronic wounds and have published scientific papers on its efficacy in animal models. Several of these researchers will also be presenting their results at the International Congress of Allergy and Immunology in New York in April, 2001.

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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