Notes: January 7, 2011 — RegeneRx Biopharmaceuticals, Inc. (OTC Bulletin Board: RGRX), a biopharmaceutical company focused on the development and commercialization of novel therapeutic products for tissue and organ protection, repair and regeneration, announced today that affiliates of the Company’s largest stockholder, Sigma-Tau Group, have purchased $950,000 of the Company’s common stock, and a new institutional investor, Lincoln Park Capital Fund, LLC (“LPC” or “Lincoln Park”), has purchased $500,000 of the Company’s common stock. All shares were purchased at $0.27 per share, a 35% premium over the previous day’s closing price. In connection with these purchases, the Company issued to the purchasers common stock warrants to purchase 40% of the number of shares purchased, or an aggregate of 2,148,148 shares, at an exercise price of $0.38 per share over a five-year period. The transactions closed on January 7, 2011. In addition to the $1.45 million investment, RegeneRx entered into a separate purchase agreement with Lincoln Park that, subject to certain conditions and at RegeneRx’s sole discretion, commits LPC to purchase up to $11 million of RegeneRx’s common stock over a 30-month period. RegeneRx is required to file a registration statement with the U.S. Securities and Exchange Commission covering the resale of the shares that may be issued to Lincoln Park. Once the registration statement is effective, LPC is obligated to make purchases as RegeneRx directs in accordance with the purchase agreement, which may be terminated by RegeneRx at any time, without cost or penalty. Sales of shares will be made in specified amounts and at prices that are based upon the market prices of the Company’s common stock preceding the sales to LPC, without any fixed discount. Except for a limitation on variable priced financings, there are no financial or business covenants, restrictions on future funding, rights of first refusal, participation rights, penalties or liquidated damages in the purchase agreement.