Contact:

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

RegeneRx Biopharmaceuticals, Inc. (AMEX: RGN) (www.regenerx.com) announced today that researchers from Kresge Eye Institute, Wayne State University and Detroit Mercy School of Dentistry, Detroit, MI are presenting new data on Tβ4 's ability to down-regulate inflammation in the eye at the Third Biennial Military Vision Research Symposium: Traumatic Eye and Brain Injury on September 16-18, 2008 at the Schepens Eye Research Institute, an affiliate of Harvard University, Boston, MA. The data further elaborate Tβ4 's ability to suppress inflammation stimulated and mediated by specific inflammatory molecules and pathways.

"I think we may be unraveling how and why Tβ4 is so important in wound healing. Our research has particular relevance to the military as ocular wound healing has become a significant issue facing soldiers returning from the combat arena with eye damage from desert conditions as well as ordnance," commented Gabriel Sosne, M.D., Associate Professor of Ophthalmology at Wayne State University School of Medicine and Kresge Eye Institute in Detroit, MI, and a member of RegeneRx's Medical and Scientific Advisory Board.

About RegeneRx Biopharmaceuticals, Inc.
RegeneRx is focused on the discovery and development of novel peptides to accelerate tissue and organ repair. Currently, RegeneRx is developing three product candidates, RGN-137, RGN-259 and RGN-352 for dermal, ophthalmic, and cardiovascular tissue repair, respectively. These product candidates are based on Tβ4 , a 43-amino acid, naturally occurring peptide, in part, under an exclusive world-wide license from the National Institutes of Health. RegeneRx holds over 60 world-wide patents and patent applications related to novel peptides and is currently sponsoring three Phase II chronic dermal wound healing clinical trials, a Phase II ophthalmic wound healing clinical trial, and a Phase I parenteral (injectable) clinical trial supporting systemic delivery of RGN-352 to reduce cardiac damage in patients after acute myocardial infarction, in addition to other systemic indications.

RegeneRx Technology Backgrounder
Tβ4 is a synthetic version of a naturally occurring peptide present in virtually all human cells. It is a first-in-class multi-faceted molecule that promotes endothelial cell differentiation, angiogenesis in dermal tissues, keratinocyte migration, collagen deposition, and down-regulates inflammation. RegeneRx has identified several molecular variations of Tβ4 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 Tβ4 's in vitro and in vivo efficacy in accelerating wound healing and tissue protection under a variety of conditions. Key publications related to Tβ4 's cardio-protective effects have been published in Nature and Circulation. Abstracts of these and other scientific papers related to Tβ4 's mechanisms of action may be viewed at RegeneRx's web page: www.regenerx.com.

Forward-Looking Statements
Any statements in this press release that are not historical facts are forward-looking statements made under the provisions of The Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the words "project," "believe," "anticipate," "plan," "expect," "estimate," "intend," "should," "would," "could," "will," "may" or other similar expressions and include statements regarding the safety and efficacy of Tβ4 , RGN-137, RGN-259 and RGN-352 and the status and prospects of any ongoing research studies and clinical trials. Actual results may differ materially from those indicated or implied by such forward-looking statements because the Company's product candidates may not demonstrate safety and/or efficacy in current or future clinical trials or as a result of various important factors described in the Company's filings with the Securities and Exchange Commission ("SEC"), including those identified in the "Risk Factors" sections of the annual report on Form 10-K for the year ended December 31, 2007 filed with the SEC on March 28, 2008 and other periodic reports filed with the SEC. Any forward-looking statements in this press release represent the Company's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. The Company anticipates that subsequent events and developments may cause its views to change, and the Company specifically disclaims any obligation to update this information, as a result of future events or otherwise, except as required by applicable law.

SOURCE: RegeneRx Biopharmaceuticals, Inc.

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