June 7, 2010 (FinancialWire) — RegeneRx Biopharmaceuticals, Inc. (AMEX: RGN), a biopharmaceutical company said that the underwriters of its recently completed public offering of units have exercised an option to purchase an additional 1,624,750 units at $0.41 per unit, consisting of an aggregate of 1,624,750 shares of common stock and warrants to purchase an aggregate of 649,900 shares of common stock.

Maxim Group LLC acted as the sole book-running manager for the offering.

Each warrant has a term of five years and represents the right to purchase one share of common stock at an exercise price of $0.56 per share. No fractional warrants will be issued.

Including the proceeds from the sale of the additional units pursuant to the exercise of the over-allotment option, the aggregate net proceeds to RegeneRx from the public offering of the units, after deducting underwriting discounts and commissions and other estimated offering expenses, were around $4.5 million. RegeneRx said it plans to use the net proceeds from this offering to support and fund several clinical trials.

Maryland-based RegeneRx is focused on the development of a novel therapeutic peptide, Thymosin beta 4, or T?4, for tissue and organ protection, repair and regeneration.

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