POWER OF ATTORNEY
The undersigned hereby constitutes and appoints J.J. Finkelstein,
Dane Saglio, Todd A. Taylor or Andrew Nick, or either of them acting
alone, the undersigned's true and lawful attorney-in-fact and agent with
full power of substitution and resubstitution, for the undersigned and in
the undersigned's name, place and stead, in any and all capacities, to
sign any or all Forms 4 and Forms 5 relating to beneficial ownership of
securities of RegeneRx Biopharmaceutical, Inc. (the "Issuer"), to file
the same, with all exhibits thereto and other documents in connection
therewith, with the Securities and Exchange Commission and to deliver a
copy of the same to the Issuer, granting unto said attorney-in-fact and
agent full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises, as
fully to all intents and purposes as the undersigned might or could do in
person, hereby ratifying and confirming all said attorney-in-fact and
agent, or his substitute or substitutes, may lawfully do or cause to be
done by virtue thereof. The undersigned acknowledges that the foregoing
attorney-in-fact, in serving in such capacity at the request of the
undersigned, is not assuming any of the undersigned's responsibilities to
comply with Section 16 of the Securities Exchange Act of 1934.
This power of attorney may be revoked as to any attorney-in-fact
upon written notice to that person, which shall be deemed to have been
given if mailed or if transmitted and confirmed by any standard form of
telecommunication, including but not limited to confirmed facsimile and
email transmissions. Furthermore, this Power of Attorney will be
terminated if at any time the undersigned is no longer subject to the
provisions of Section 16 of the Securities Exchange Act of 1934 with
respect to securities of the Issuer.
IN WITNESS WHEREOF, the undersigned has caused this Power of
Attorney to be executed as of this 10th day of September, 2014.
/s/ R. Don Elsey
