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BioSpecifics Technologies Corp. Announces Sale of Stock in Private Placement Offering

LYNBROOK, N.Y., June 3 /PRNewswire-FirstCall/ -- BioSpecifics Technologies Corp. (OTC Bulletin Board: BSTC.OB) today announced that it sold 100,000 unregistered shares of its common stock priced at $13 per share with aggregate proceeds to BioSpecifics of $1,300,000. The shares were purchased by an investment group on May 30, 2008. The shares were sold in a company managed PIPE transaction at a premium over the market price.

BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed and licensed injectable collagenase for three clinical indications. It has a development and licensing agreement with Auxilium Pharmaceuticals, Inc. for clinical indications in Dupuytren's disease, Peyronie's disease and frozen shoulder (adhesive capsulitis).

BioSpecifics' main website is at

its Dupuytren's Disease patient discussion forum at

and its Peyronie's Disease patient discussion forum at

SOURCE BioSpecifics Technologies Corp.
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