BioSpecifics Technologies Corp. Announces Repayment of Outstanding Loan

LYNBROOK, N.Y., Feb. 5 /PRNewswire-FirstCall/ -- BioSpecifics Technologies
Corp. (OTC Bulletin Board: BSTC) announced today that it has received full
repayment of the loan owed to it by its former CEO, Edwin H. Wegman, who
passed away in February, 2007. The Estate of Edwin H. Wegman repaid the loan
amount plus accrued interest on February 1, 2008 through the sale of 344,114
shares of BioSpecifics' common stock to certain private investors. The Estate
sold the stock at the then market price of $12.00 per share. BioSpecifics
received a total amount of $1,269,458 from the Estate's sale, which includes
the loan amount owed of $1,116,558 and $152,900 for payment of the exercise of
options by the Estate.
Listing on OTC Bulletin Board
Effective January 29, 2008 BioSpecifics obtained a listing on the OTC
Bulletin Board Exchange.
BioSpecifics Technologies Corp. is a biopharmaceutical company that has
developed and licensed injectable collagenase for three clinical indications.
We have a development and licensing agreement with Auxilium Pharmaceuticals
www.auxilium.com for clinical indications in Dupuytren's disease, Peyronie's
disease and frozen shoulder (adhesive capsulitis).
BioSpecifics web site is:
www.biospecifics.com
SOURCE BioSpecifics Technologies Corp.

Tom Wegman, BioSpecifics Technologies Corp., +1-516-593-7000