BioSpecifics Technologies Corp. Announces First Commercial Sale of XIAFLEX® for the Treatment of Dupuytren's Contracture in Japan

BioSpecifics Technologies Corp.

, 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, announced today that the first commercial sale of XIAFLEX by Asahi Kasei Pharma Corporation for the treatment of Dupuytren's contracture in Japan has triggered a $1.0 million milestone payment to BioSpecifics. Asahi Kasei Pharma has the rights to develop and market XIAFLEX in Japan for Dupuytren's contracture and Peyronie's disease through an agreement with BioSpecifics' partner Endo International plc (Endo). "We recognize the importance of expanding XIAFLEX's reach to new patients around the globe and the first commercial sale of XIAFLEX in Japan is an important milestone for this effort," commented Thomas L. Wegman, President of BioSpecifics. "We are very happy that there is now a non-surgical treatment option available to patients suffering from the debilitating effects of Dupuytren's contracture in this territory." Under the terms of BioSpecifics' agreement with Endo, in addition to receiving a $1.0 million milestone payment related to the first commercial sale of XIAFLEX in Japan, BioSpecifics will receive royalties on net sales, mark-up on cost of goods sold and sales-based milestone payments.