Contact:

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

RegeneRx Biopharmaceuticals, Inc. (AMEX:RGN) (www.regenerx.com) reported today that Dr. Deepak Srivastava has joined RegeneRx's Medical and Scientific Advisory Board and will become a consultant to the company. Dr. Srivastava is the Director, Gladstone Institute of Cardiovascular Disease at the University of California, San Francisco, and Wilma and Adeline Pirag Distinguished Professor in Pediatric Developmental Cardiology, University of California, San Francisco.

Dr. Srivastava's research laboratory at the University of Texas Southwestern Medical Center in Dallas first reported on the wound healing effects of Thymosin beta 4 (TB4) in animals after acute myocardial infarction (heart attack), which was reported in the scientific journal, Nature, in 2004.

"We are so pleased to have Dr. Srivastava join our team and become a member of our esteemed Medical and Scientific Advisory Board. His expertise and creativity will prove invaluable as we continue our product development in the cardiovascular field, for which we intend to shortly initiate clinical trials," commented Dr. Allan Goldstein, RegeneRx's chairman and chief scientific advisor.

"Heart disease is the number one killer on both sides of the age spectrum, resulting in significant mortality and morbidity in children and adults. I am very pleased to work closely with RegeneRx in this area, as well as other related medical areas where their technology may play a role in reducing or eliminating damage caused by ischemic events such as heart attack. I have long believed in the potential of TB4 and am excited about the opportunity to help develop a novel treatment for one of the most serious medical problems facing human medicine," said Dr. Srivastava.

About RegeneRx Biopharmaceuticals, Inc.
RegeneRx is focused on the discovery and development of novel molecules to accelerate tissue and organ repair. Currently, RegeneRx is developing TB4, a 43 amino acid peptide, in part, under an exclusive world-wide license from the National Institutes of Health. Preliminary research suggests that TB4 may prove efficacious for multiple indications; therefore, RegeneRx is developing TB4 as the cornerstone of its therapeutic platform. The technology platform has many potential applications in both the pharmaceutical and consumer products sectors. RegeneRx holds nearly 60 world-wide patents and patent applications related to dermal, ocular, and internal wounds and tissue repair, cardiac and neurological injuries, septic shock and several consumer product areas. RegeneRx is currently sponsoring three Phase 2 chronic dermal wound healing clinical trials and has additionally targeted ophthalmic and cardiac trials in 2007 as part of its ongoing clinical development program.

The RegeneRx Technology Platform
TB4 is a synthetic version of a naturally occurring peptide present in virtually all human cells. It is a first-in-class drug candidate that promotes endothelial cell differentiation, angiogenesis in dermal tissues, keratinocyte migration, collagen deposition, and down-regulates inflammation. One of TB4's key mechanisms of action is its ability to regulate the cell-building protein, actin, a vital component of cell structure and movement. Of the thousands of proteins in cells, actin represents up to 10% of the total protein and, thus, plays a major role in the physiology of the cell. RegeneRx has identified several molecular variations of TB4 that may affect the aging of skin, among other properties, and could be important candidates as active ingredients in pharmaceutical and consumer products. Researchers at the National Institutes of Health, and at other academic institutions throughout the U.S., have published numerous scientific articles indicating that TB4 is effective in accelerating dermal and corneal wound healing in several animal models, under a variety of conditions. In two articles published in the scientific journal, Nature, researchers found that TB4 protects heart tissue following a myocardial infarction (heart attack) and can regenerate coronary vessels in laboratory animals. Abstracts of scientific papers related to TB4's mechanisms of action may be viewed at RegeneRx's web page: www.regenerx.com.

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 ongoing and prospective development of TB4 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 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.

SOURCE: RegeneRx Biopharmaceuticals, Inc.

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