Contact:

At RegeneRx:
J.J. Finkelstein
jjfnk@regenerx.com
301.280.1992

At the Financial
Relations Board:
Analyst Inquiries:
Leslie Loyet
312.640.6672

or
General Inquiries
Kathy Waller
312.640.6696

or
Media Inquiries
Tim Grace
312.640.6741

RegeneRx Biopharmaceuticals, Inc. (AMEX: RGN) (www.regenerx.com) reported today that Dr. Gabriel Sosne, Assistant Professor of Ophthalmology at Wayne State University and the Kresge Eye Institute in Detroit, Michigan, has shown for the first time that Thymosin Beta 4 (Tß4) modulates MMP-9, an enzyme associated with persistent inflammation and corneal wounds, which may delay or retard corneal wound healing. Dr. Sosne presented his findings today at the World Cornea Congress in Washington, D.C.

"Tß4's ability to modulate MMP-9 levels is significant because MMP-9 is often associated with dysregulated inflammation and impaired healing. To be able to affect MMP-9 in the way we've identified adds to the growing body of evidence supporting Tß4's wound healing properties," according to Dr. Sosne. "This data, combined with our previously published data, gives additional support for the use of Tß4 to treat eye wounds."

About RegeneRx Biopharmaceuticals, Inc.
RegeneRx (www.regenerx.com) is a biopharmaceutical company developing Tß4 as a platform technology for the treatment of acute and chronic wounds and for a variety of human diseases involving tissue and organ repair under an exclusive world-wide license from the National Institutes of Health. The company holds over fifty world-wide patents and patent applications related to dermal, ocular, and internal wounds and tissue repair, including the prevention and treatment cardiac and neurological injuries, as well as patents related to the treatment of septic shock. RegeneRx has received clearance from the U.S. FDA for its first three Phase II dermal wound healing clinical trials and has targeted ocular wound healing as part of its ongoing clinical trial program.

Safe Harbor Statement
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 regulatory approval process and the ongoing and prospective development and commercialization of Tß4 and possible future benefits to the Company, its stockholders, and patients. Due to the nature of clinical trials, 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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