RegeneRx receives last $1M from license and security purchase agreement

|About: RegeneRx Biopharmaceut... (RGRX)|By:, SA News Editor

RegeneRx Biopharmaceuticals (OTCQB:RGRX +17.1%) receives the final payment of $1M of the $2.5M product license and securities purchase agreement with G-treeBNT Co., Ltd. Proceeds have been dedicated to the development of the RegeneRx's RGN-259, a preservative-free eye drop product for certain Asian markets.

G-treeBNT purchased 8,333,333 shares of RGRX common stock at $0.12 per share and retains an option to purchase an additional shares for $825K at $0.15 per share until January 31, 2015.