RegeneRx Biopharmaceuticals, Inc. (OTCPK:RGRX) announced that it has entered into a definitive agreement in connection with a private placement of up to 10,000,000 of shares and warrants at a purchase price of $0.20 per share for gross proceeds of $2,000,000 and accompanying warrants, Series A warrants to purchase up to approximately 7,500,000 shares 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 7,500,000 million shares of common stock with an exercise price of $0.28 per share on June 28, 2021. The shares are exercisable immediately and have a term of five years following issuance. The net proceeds after deducting placement agent fees and other offering expenses, are expected to be approximately $1,800,000. The transaction is expected to close on or about June 30, 2021, subject to customary closing conditions.