Teva Increases Stake in Rexahn Pharma

Rexahn Pharmaceuticals, Inc. (NYSE Amex: RNN), a clinical stage pharmaceutical company commercializing potential best-in-class oncology and central nervous system (CNS) therapeutics, today announced that Teva Pharmaceutical Industries Ltd. (Teva) will provide an additional funding to Rexahn pursuant to the terms of its agreements with Teva. Pursuant to the Securities Purchase Agreement with Teva, Teva will invest $750,000 to purchase Rexahn's common stock at 120% of closing price of common stock on the last trading day preceding the closing. This will complete the third closing agreed to by the parties in the Securities Purchase Agreement. Teva has agreed to commit additional research funding for development of RX-3117. Under a new amendment to the Research and Exclusive License Option Agreement, Teva will have the right to file the IND for RX-3117 with the FDA.