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. Hynda Kleinman, Chief of the Laboratory of Cell Biology at the National Institutes of Health's (NIH) Dental and Craniofacial Research Institute in Bethesda, MD, presented data showing how Thymosin beta 4 (Tß4) accelerates wound healing, as well as the stimulation of hair follicles in laboratory animals. In her presentation today at the 15th Annual Meeting of the Wound Healing Society in Chicago, IL, Dr. Kleinman emphasized Tß4's ability to up-regulate or "turn on" two genes, zyxin and laminin-5, both of which are important for cellular adhesion and cell migration, two key biological activities necessary for successful wound healing.

Dr. Kleinman also presented confirmatory data indicating Tß4's ability to enter the nucleus of the cell due to the presence of actin, a major cell-building protein to which Tß4 readily attaches. According to Dr. Allan L. Goldstein, Chairman of the Department of Biochemistry and Molecular Biology at the George Washington University School of Medicine in Washington, DC and RegeneRx's Chief Scientific Advisor, "The ability of Tß4 to enter the cell nucleus offers a very interesting possibility that it could be used as a carrier or 'chaperone molecule' to allow manipulation of cells at the nuclear level. This capability could open up a whole new avenue for delivering specialized chemotherapeutic agents, or other drugs, to cells in a very efficient and targeted manner and further broadens the possible uses of Tß4."

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, ophthalmic, 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 also targeted ophthalmic and cardiac wound healing as part of its ongoing clinical development 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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