LYNBROOK, N.Y. Feb. 7, 2011 /PRNewswire/ -- BioSpecifics Technologies Corp. (Nasdaq: BSTC; the "Company" or "BioSpecifics"), a biopharmaceutical company developing first in class collagenase-based products, today announced that its Board of Directors has amended its Rights Agreement (the "Rights Agreement"), adopted May 14, 2002 and previously amended June 19, 2003 (the "Amendment").
The Amendment increases the ownership threshold for determining "Acquiring Person" status under the Rights Agreement from 15% to 18% and extends the "Final Expiration Date" for an additional two years, to May 31, 2014.
About BioSpecifics Technologies Corp.
BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed injectable collagenase for twelve clinical indications, three of which include: Dupuytren's contracture, Peyronie's disease, and frozen shoulder (adhesive capsulitis). Its strategic partner Auxilium markets XIAFLEX® in the U.S. for the treatment of Dupuytren's contracture. Pfizer, Inc. is responsible for marketing XIAPEX® in Europe. More information about BioSpecifics may be found on its website at www.biospecifics.com.
SOURCE BioSpecifics Technologies Corp.