REGENERX RECEIVES $5 MILLION EQUITY INVESTMENT

RegeneRx Biopharmaceuticals announced a $5 million private placement of its common stock to Defiante Farmaceutica, a wholly owned subsidiary of Sigma-Tau Group, and two of its affiliates. Under the terms of the transaction, the investors purchased 1.538 million shares of common stock at $3.25 per share. The investors may not sell or distribute the securities for five years and have given their proxies to RegeneRx management to vote the shares during the lock-up period. At the end of the five year lock-up period, RegeneRx, at its option, may buy-back for $5.00 per share the number of shares required to maintain Sigma-Tau's equity ownership at 30.1 percent, the same percentage as it stood prior to this transaction.

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