BETHESDA, Md.--(BUSINESS WIRE)--RegeneRx Biopharmaceuticals, Inc., (AMEX:RGN; www.regenerx.com) announced today that it has entered into agreements with certain accredited investors with respect to the sale of an aggregate of $9.55 million of common stock in a private placement. The transaction, which is expected to close on or about December 21, 2006, involves the sale of 5,305,557 shares of common stock at a purchase price of $1.80 per share. In addition, the Company granted the investors warrants to purchase up to an additional 2,122,222 shares of common stock at an exercise price of $2.75. Participants in the financing included both existing and new institutional investors, along with affiliates of Sigma-Tau Group, the Company's largest stockholder. Piper Jaffray & Co. acted as sole placement agent for the offering.
