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BioSpecifics Announces Partnership Between Auxilium and Actelion for XIAFLEX® in Canada, Australia, Brazil and Mexico
Date:2/23/2012

LYNBROOK, N.Y., Feb. 23, 2012 /PRNewswire/ -- BioSpecifics Technologies Corp. (NASDAQ: BSTC), a biopharmaceutical company developing first in class collagenase-based products marketed as XIAFLEX® in the U.S. and XIAPEX® in Europe and Eurasia, today announced that its partner Auxilium Pharmaceuticals, Inc. (Auxilium) has entered into a partnership with Actelion Pharmaceuticals Ltd. (Actelion) for the long-term development, supply and commercialization of XIAFLEX for the treatment of Dupuytren's contracture and Peyronie's disease. Under this agreement, Actelion will receive exclusive rights to commercialize XIAFLEX for the two indications in Canada, Australia, Brazil and Mexico upon receipt of the respective regulatory approvals. Actelion will be primarily responsible for the applicable regulatory and commercialization activities for XIAFLEX in these countries.

"We are excited to announce this strategic collaboration with Actelion, which will further enable XIAFLEX to reach patients around the world who are in need of this treatment," reflected Thomas L. Wegman, President of BioSpecifics. "XIAFLEX is already available in the U.S. and nine European and Eurasian markets for patients with Dupuytren's contracture and we look forward to potential additional approvals in these new partnership territories, as well as reporting top-line results from Auxilium's global Phase III study of XIAFLEX for Peyronie's disease by the end of the second quarter of this year. This lead pipeline indication has the potential to greatly increase the market for injectable collagenase due to the devastating effects of this disease."

BioSpecifics will receive a certain percentage of the $10 million upfront payment paid to Auxilium from Actelion as well as a certain percentage of the up to $16 million in potential regulatory, pricing and reimbursement milestone payments and $42.5 mil
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