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RegeneRx reaches deal on eye treatment

RegeneRx Biopharmaceuticals Inc., of Rockville, has agreed to a joint venture agreement with South Korean pharmaceutical company G-treeBNT Co. Ltd. to develop RGN-259 for dry eye syndrome and neurotrophic keratitis in the United States.  RegeneRx will receive $1 million and potential royalties on sale of the product if it comes to market. G-treeBNT will be responsible for all clinical trials and product development and receives an exclusive license to market and sell RGN-259 in the U.S. “This partnership is a great opportunity for RegeneRx and G-treeBNT as it creates a vehicle to rapidly develop RGN-259 for ophthalmic indications in the U.S. without the need for RegeneRx to raise new capital, sell additional equity or build out infrastructure,” J.J. Finkelstein, RegeneRx’s president and chief executive officer, said in a statement.