SOLIGENIX, INC. — Director's Dealing 2010

Jun 21, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SOLIGENIX, INC. (SNGX)
CIK: 0000812796
Period of Report: 2010-06-18

Reporting Person: CAVAZZA PAOLO (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-06-18	Common Stock	P	8608580	$0.205	Acquired	54227816	Indirect
2010-06-18	Common Stock	P	2926829	$0.205	Acquired	3282929	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-06-18	Common Stock Warrant (warrant to buy)	$0.28	J	1	Acquired	2015-06-18	Common Stock (5165148)	Indirect
2010-06-18	Common Stock Warrant (warrant to buy)	$0.28	J	1	Acquired	2015-06-18	Common Stock (1756097)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1190770	Direct

Footnotes

F1: Shares directly owned by Sigma-Tau Pharmaceuticals, Inc. ("Pharmaceuticals"). Pharmaceuticals is a direct wholly-owned subsidiary of Sigma-Tau America S.A. ("America"). America is a direct wholly-owned subsidiary of Sigma-Tau International S.A. ("International"). International is a direct wholly-owned subsidiary of Sigma-Tau Finanziaria S.p.A. ("Sigma Tau"). Paolo Cavazza directly and indirectly owns 38% of Sigma Tau.

F2: Shares directly owned by Chaumiere Sarl ("Chaumiere") (formerly Chaumiere Consultadoria Servicos SDC Unipessoal L.d.a.), which is an indirect wholly owned subsidiary of Aptafin S.p.A. ("Aptafin"). Aptafin is owned by Paolo Cavazza and members of his family.

F3: This warrant was issued by the Issuer to Pharmaceuticals in consideration of Pharmaceuticals' purchase of 8,608,580 shares of the Issuer's common stock on June 18, 2010.

F4: The expiration date of the warrants may be accelerated at the Issuer's option if the Issuer's common stock meets certain price thresholds and the common shares underlying the warrant are registered for resale pursuant to an effective registration statement or are freely transferable without volume restrictions pursuant to Rule 144 under the Securities Act of 1933, as amended.

F5: This warrant was issued by the Issuer to Chaumiere in consideration of Chaumiere's purchase of 2,926,829 shares of the Issuer's common stock on June 18, 2010.