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Actionable news in BSTC: BioSpecifics Technologies Corp,

Biospecifics Technologies Corp. Announces Partner Endo International

The following excerpt is from the company's SEC filing.

Exercises Early Opt-In for XIAFLEX for Two New Indications

Company to receive opt-in fee of $0.5M for each new indication; lateral thigh fat and plantar fibromatosis

BioSpecifics Technologies Corp. (NASDAQ: BSTC), a biopharmaceutical company that originated and continues to develop collagenase based-therapies with a first in class collagenase-based product marketed as XIAFLEX

(collagenase clostridium histolyticum or CCH) in the U.S. and Xiapex

in Europe, today announced that its partner Endo International plc (Endo) has exercised an early opt -in for CCH to include two new potential indications, lateral thigh fat and plantar fibromatosis. The Company will receive a $0.5 million opt-in fee for each indication.

"Our partner Endo shares our belief in the vast potential of CCH as an effective treatment for many important conditions and diseases, said Thomas L. Wegman, President of BioSpecifics. We are very excited to report that they have chosen to opt-in early for the development of these two promising indications.

As a result of Endos early opt-in for these two indications, Endo is now responsible for all costs for future clinical development. All other terms and conditions of the agreement remain the same, however, including Endos obligations with respect to developmental milestone payments and royalties and mark-up on cost of goods sold payments. BioSpecifics agreed to this early opt-in which does not affect any of the other Stage I development activities of BioSpecifics including human lipomas and uterine fibroids.

In addition to these two new indications announced today, Endo's current licensed rights also include Dupuytren's contracture, Peyronie's disease, adhesive capsulitis, cellulite and canine lipoma.

About Lateral Thigh Fat

Lateral thigh (trochanteric) fat accumulation is common among woman particularly as they age and it is often very difficult to improve its appearance through exercise and diet alone. Patients frequently avoid exercise and are unable to restrict their caloric intake. In some cases, cyrolipolysis and liposuction are performed to remove the unsightly fat deposits in the lateral thigh. There are no pharmaceutical products that are labeled for use on lateral thigh fat in the U.S.

About Plantar...