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BIOSPECIFICS TECHNOLOGIES CORP. ANNOUNCES RESEARCH AND DEVELOPMENT AGREEMENT WITH U.S. LICENSEE

 LYNBROOK, N.Y., Dec. 8 /PRNewswire/ -- BioSpecifics Technologies Corp. (NASDAQ: BSTC) today reported reaching a research and development agreement with its U.S. licensee.
 Edwin H. Wegman, chairman and president of BioSpecifics, stated, "Over the past few years we have worked intensely in the laboratory and with animals to develop a high potency form of topical collagenase to treat wounds and deep burns which require a very rapid debridement. Debridement is the process of removing devitalized tissue from a wound so that optimal healing can take place. Until now rapid debridement has not been possible and these wounds could only be treated surgically.
 "We are pleased to announce that based on encouraging preclinical results, our U.S. licensee has now agreed to cover all costs for the clinical work necessary to advance this high potency product rapidly through the FDA approval process. The agreement covers the company's construction costs as well for a pilot facility to produce this new product form. It is estimated that this agreement may result in the outlay of several million dollars. Worldwide patents have been applied for by the company. We anticipate that this new product form of collagenase will demonstrate the company's scientific leadership position worldwide in the treatment of necrotic wounds."
 BioSpecifics produces and licenses pharmaceutical products for domestic and international sales. The company is also engaged in various stages of research, development, clinical testing and marketing of additional pharmaceutical products. The company's current principal product is its FDA approved enzyme Collagenase ABC, used in topical applications for the treatment of dermal ulcers and severe burns.
 -0- 12/8/93
 /CONTACT: Edwin H. Wegman of BioSpecifics Technologies, 516-593-7000, or Sam Witchel of Scharff, Witchel & Co., 212-983-1060/
 (BSTC)


CO: BioSpecifics Technologies Corp. ST: New York IN: MTC SU:

SP-CK -- NY063 -- 1775 12/08/93 12:38 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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