RegeneRx Biopharmaceuticals, Inc. (RGRX) Issues $300,000 Convertible Note to Pursue Current Initiatives
10/22/2012 9:39:59 AM
ROCKVILLE, Md.--(BUSINESS WIRE)--RegeneRx Biopharmaceuticals, Inc. (OTC Bulletin Board: RGRX) (“the Company” or “RegeneRx”) today announced that it has received $300,000 through the issuance of unsecured convertible notes to two members of management, an outside director, and an affiliated stockholder. The loan proceeds will allow the Company to maintain current operations and continue work on opportunities related to its ophthalmic and cardiac drug candidates, as well as certain strategic financial opportunities. The loan proceeds are expected to fund operations into the first quarter of 2013.