Rexahn Pharmaceuticals Signs Development and Commercialization Agreement with a Top 20 Pharmaceutical Company for Novel Anti-cancer Compound

ROCKVILLE, Md.--(Business Wire)--
Rexahn Pharmaceuticals, Inc. (NYSE Amex:RNN), a clinical stage pharmaceutical
company commercializing potential best in class oncology and CNS therapeutics,
today announced that it has signed an exclusive collaboration and option for
license agreement with a top 20 global pharmaceutical company (the "Partner
Co.") for the development of RX-3117. RX-3117 is a small molecule, new chemical
entity (NCE), nucleoside compound that has an anti-metabolite mechanism of
action, and has therapeutic potential in a broad range of cancers including
colon, lung and pancreatic cancer.

The obligation of the Partner Co. to proceed with the transaction is subject to
its satisfaction with its ongoing due diligence activities and to the
satisfaction of other customary conditions. Assuming that the Partner Co. elects
to proceed, then under the terms of the agreement, Rexahn will receive upfront
payments in the form of equity investment and, assuming the license option is
exercised, will be eligible to receive development, regulatory and sales
milestone payments. In addition, Rexahn will receive royalties on net sales
worldwide. The signing of the agreement by both parties precedes a definitive
deal closing for the exclusive development and commercialization of RX-3117.
Additional financial terms of the transaction were not disclosed.

Dr. Chang Ahn, Rexahn`s Chairman and Chief Executive Officer stated, "In
addition to the strength of our Phase II compounds Archexin, Serdaxin and
Zoraxel, the depth of our pre-clinical pipeline is a key differentiator of our
company. The commitment of a big pharmaceutical partner to collaborate with
Rexahn is a major step forward in our strategy and validates the
commercialization value of our innovative pipeline. RX-3117 is a highly
promising anticancer compound with potential for oral and IV formulation, and
this new partnership serves to rapidly advance its development and helps us
realize a potentially significant revenue stream."

About RX-3117

RX-3117 is a small molecule, new chemical entity (NCE), nucleoside compound that
inhibits DNA methyltransferase, a cyclin-dependent kinase, and DNA synthesis.
Potential indications of RX-3117 are solid tumors including colon, lung and
pancreatic cancers. RX-3117 has demonstrated its ability to overcome cancer drug
resistance in cancer cells, in particular, gemcitabine-resistance in the human
lung cancer cell. The US patent issued for RX-3117 claims composition of matter,
synthesis, and methods (2008).

About Rexahn Pharmaceuticals, Inc.

Rexahn Pharmaceuticals is a clinical stage pharmaceutical company dedicated to
commercializing first in class and market leading therapeutics for cancer, CNS
disorders, sexual dysfunction and other unmet medical needs. Rexahn currently
has three drug candidates in Phase II clinical trials - Archexin, Serdaxin, and
Zoraxel - all potential best in class therapeutics, and a robust pipeline of
preclinical compounds to treat multiple cancers and CNS disorders. Rexahn also
has key R&D programs in cancer nano-medicines and multi-target aimed ligands
drug discovery technologies. For more information, please visit www.rexahn.com

Safe Harbor

This press release contains forward-looking statements. Rexahn's actual results
may differ materially from anticipated results, and expectations expressed in
these forward-looking statements, as a result of certain risks and
uncertainties, including Rexahn's lack of profitability, and the need for
additional capital to operate its business to develop its product candidates;
the risk that Rexahn's development efforts relating to its product candidates
may not be successful; the possibility of being unable to obtain regulatory
approval of Rexahn's product candidates; the risk that the results of clinical
trials may not be completed on time or support Rexahn's claims; demand for and
market acceptance of Rexahn's drug candidates; Rexahn's reliance on third party
researchers and manufacturers to develop its product candidates; Rexahn's
ability to develop and obtain protection of its intellectual property; and other
risk factors set forth from time to time in our filings with the Securities and
Exchange Commission. Rexahn assumes no obligation to update these
forward-looking statements.

Investor Relations:
KCSA Strategic Communications
Jeffrey Goldberger, 212-896-1249
jgoldberger@kcsa.com
Yemi Rose, 212-896-1233
yrose@kcsa.com
or
Industry and Press Relations:
Base Pair Communications
Constantine Theodoropulos, 617-401-3116
constantine@basepaircomm.com

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