BioSpecifics Technologies Corporation Announces Sale of Stock in Private Placement Offering
LYNBROOK, N.Y., June 3 /PRNewswire-FirstCall/ -- BioSpecifics Technologies Corp. 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).
CONTACT: Thomas L. Wegman, President of BioSpecifics Technologies Corp.,
Web site: http://www.biospecifics.com/