BETHESDA, Md.--(BUSINESS WIRE)--March 16, 2006--RegeneRx Biopharmaceuticals, Inc. (AMEX:RGN) today closed its previously announced registered direct offering. The company sold 2,591,952 shares of common stock at $2.81 per share for aggregate gross proceeds of $7.3 million. Participants in the financing included several new institutional investors as well as existing investors, and affiliates of Sigma-Tau Group, the company’s largest stockholder. The shares were offered through a prospectus supplement pursuant to the company’s effective shelf registration statement. In addition, warrants to purchase 907,182 shares of common stock were issued to the investors. The warrants have an exercise price of $4.06 per share. RBC Capital Markets Corporation acted as sole placement agent for the transaction.
