Healthcare Watch: RegeneRx Biopharmaceuticals Plans Common Unit Offering

(Comment on this article at http://www.financialwire.net/2010/04/19/healthcare-watch-regenerx-biopharmaceuticals-plans-common-unit-offering/)

April 19, 2010 (FinancialWire) -- RegeneRx Biopharmaceuticals, Inc. RGN said it plans to offer units consisting of shares of its common stock and warrants to purchase shares of its common stock in a public offering.

The number of units to be issued, the price of each unit, the portion of a common share underlying each warrant and the exercise price per warrant, as well as the size of the offering, will be determined at the time of pricing the offering.

Maxim Group LLC is acting as the lead manager for this offering, with Boenning & Scattergood as co-manager.

RegeneRx plans to use the net proceeds from this proposed offering to support and fund several clinical trials, including a proposed Phase 2 clinical trial of its product candidate RGN-352 for the treatment of patients with acute myocardial infarction, an ongoing Phase 2 clinical trial of its product candidate RGN-137 in patients with the skin defect epidermolysis bullosa, compassionate use studies of its product candidate RGN-259 in patients with neurotrophic keratitis and a proposed physician-sponsored trial in patients with dry eye associated with graft versus host disease, as well as a proposed Phase 1/2 trial of RGN-352 in patients with multiple sclerosis.

The company also plans to use the net proceeds for general corporate purposes, including working capital.

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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