Monte Jade Names Rexahn Pharmaceuticals 2006 Biotechnology Company of the Year

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ROCKVILLE, Md.--(BUSINESS WIRE)--

Rexahn Pharmaceuticals (OTCBB:RXHN), a biopharmaceutical company, dedicated to the discovery, development, and commercialization of innovative treatments for cancer and disorders of the central nervous system, was recently named "2006 Biotechnology Company of the Year" by the Monte Jade Science and Technology Association of Greater Washington D.C., during its "Evening of Celebration and Networking" held at the North Bethesda Marriott Hotel & Conference Center.

Monte Jade is a non-profit organization designed to benefit Asian-owned scientific and technological businesses and entrepreneurs in the Greater Washington area. The organization's goal is to "create a forum that would bring professionals together for the purpose of networking and business cooperation."

Chang Ahn, Rexahn's CEO & Chairman, said, "It is an honor to be acknowledged by such a respected organization. In the days and weeks ahead, we will work very hard to continue being a company worthy of such an award."

At the January 18 event, Rexahn was honored along with Former Secretary of Transportation Norman Mineta, Parature Inc. and James Whang of AEPCO.

Additional information about Rexahn is available at www.rexahn.com.

    For more information about Monte Jade, visit www.mj-dc.org

    Safe Harbor

This press release contains statements (including projections and business trends) that are forward-looking statements. Rexahn's actual results may differ materially from the anticipated results and expectations expressed in these forward-looking statements as a result of certain risks and uncertainties, including, Rexahn's lack of profitability, its auditor's going concern qualification 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. These forward-looking statements are made as of the date hereof, Rexahn assumes no obligation to update these forward-looking statements.

Source: Rexahn Pharmaceuticals

Released January 19, 2007