BioSpecifics Technologies Corp. Announces Private Placement Offering

LYNBROOK, N.Y., Aug. 20 BioSpecificsTechnologies Corp. (OTC Bulletin Board: BSTC), a biopharmaceutical companydeveloping first in class collagenase based products, announced today that itraised an aggregate amount of $1,125,000 through the sale of 50,000unregistered shares of its common stock priced at $22.50 per share. Theshares were purchased by certain private investors on August 19, 2008. Theshares were sold in a company managed PIPE transaction at a premium over themarket price. BioSpecifics did not grant options nor pay any commissions forthis transaction.

BioSpecifics Technologies Corp. is a biopharmaceutical company that hasdeveloped and licensed injectable collagenase for three clinical indications:Dupuytren's disease, Peyronie's disease and frozen shoulder (adhesivecapsulitis). It has a development and licensing agreement with AuxiliumPharmaceuticals.BioSpecifics' main website is at http://www.biospecifics.com it's Dupuytren's Disease patient discussion forum at http://www.biospecifics.com/forum/index.html and its Peyronie's Disease patient discussion forum at http://www.biospecifics.com/forum/index2.html

SOURCE BioSpecifics Technologies Corp.

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