ROCKVILLE, Md.—RegeneRx Biopharmaceuticals (OTCQB: RGRX), a clinical-stage drug development company focused on tissue protection, repair and regeneration, announced July 1 that it closed its previously announced private placement offering of common stock and warrants for gross proceeds of $1,980,000. RegeneRx will be issuing to purchasers of common stock Series A warrants to purchase up to approximately 7.5 million shares of common stock with an exercise price of $0.24 per share, exercisable immediately and have a term of two years following issuance and Series B Warrants to purchase up to approximately 7.5 million shares of common stock with an exercise price of $0.28 per share, exercisable immediately and have a term of five years following issuance.

Roth Capital Partners served as sole placement agent. After the placement agent fees and estimated offering expenses payable by the company, the company said it expects to receive net proceeds of approximately $1,800,000.
 
RegeneRx is developing several products, including a preservative-free topical eye drop for regeneration of corneal tissues damaged by injury, disease or other pathology.