RegeneRx Biopharmaceuticals to Present at BIO 2003.

Health/Medical Writers

BIO 2003 Annual Convention

WASHINGTON--(BUSINESS WIRE)--June 24, 2003

RegeneRx Biopharmaceuticals, Inc. (OTCBB:RGRX; www.regenerx.com) is scheduled to make two corporate presentations at the BIO 2003 Annual Meeting in Washington, D.C. today.

At 2:00 p.m. EST, Mr. J.J. Finkelstein, RegeneRx's President and CEO, will participate in a 90-minute panel presentation discussing various strategies to speed up product research and development and the clinical trial process. He will describe the strategy RegeneRx utilized to rapidly initiate human clinical trials for its wound healing technology platform based on Thymosin Beta 4 (TB4).

The Company's second presentation, at 4:00 p.m. EST, will be at the BIO Business Forum describing RegeneRx's strategy, business model and potential commercial opportunities. Mr. Finkelstein will also be delivering this presentation.

BIO is the industry's largest trade organization and leading advocate for the biotechnology industry. BIO represents more than 1,000 biotech companies and academic institutions in all 50 states and 33 other nations. This year's annual conference is expected to attract over 17,000 attendees.

TB4 is a naturally occurring 43 amino acid peptide and the major actin-sequestering molecule in mammalian cells. As such, it plays a vital role in the regeneration, remodeling, and healing of injured or damaged tissues. TB4 is found in highest concentration in blood platelets, the first molecules to reach the site of a wound. It has also been shown to influence T-cell differentiation, decrease toxicity induced by endotoxin and chemotherapy, and down-regulate a number of key inflammatory cytokines and chemokines. TB4 is the first actin-sequestering molecule to be tested for wound healing. It has a significantly different mechanism of action than other potential wound healing agents, including growth factors, and may be delivered topically, virtually eliminating toxicity while allowing easy accessibility for frequent treatment. Numerous recent papers have been published in major scientific journals describing the results of research on TB4 conducted at the NIH and other institutions. Abstracts of these publications may be found at the company's web site.

RegeneRx Biopharmaceuticals, Inc., Bethesda, MD, (www.RegeneRx.com) holds an exclusive worldwide license for TB4 from NIH for wound healing and is developing it for the potential treatment of a variety of human diseases. The Company holds several patents related to the technology and has numerous patent applications pending. RegeneRx has recently initiated phase I human clinical trials for chronic dermal wounds and completed a $2 million private financing with the Sigma-Tau Group, headquartered in Rome, Italy.

The information in this press release may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements concern the Company's current expectations regarding future events, including the regulatory approval process and the ongoing and prospective development and commercialization of TB4 and possible future benefits to the Company, its shareholders, and patients. Due to the nature of clinical trials, product development and the regulatory approval process, the forward-looking statements contained in this press release are subject to risks and uncertainties, including those reflected in the Company's filings with the Securities and Exchange Commission, particularly its most recent Annual Report on Form 10-KSB. The Company assumes no obligation to update or revise any forward-looking statements made herein or any other forward-looking statements made by the Company.