BioSpecifics Technologies Corp is traded on the NASDAQ Global Market under the symbol BSTC. It is a biopharmaceutical company that has reached a profitable, commercial stage. At the time of writing, the injectable collagenase XIAFLEX (collagenase clostridium histolyticum), developed by BioSpecifics, is approved in the United States for the treatment of adult Dupuytren’s contracture patients with up to two palpable cords in the same palm and for Peyronie’s disease in men with a palpable plaque and a curvature of 30 degrees or greater at the start of therapy.
In the European Union, XIAFLEX is approved for the treatment of both Dupuytren’s contracture and Peyronie’s disease. In Canada and Australia, XIAFLEX is so far only approved for the treatment of Dupuytren’s contracture.
What is this company selling?
Among other things, BioSpecifics Technologies Corp owns, co-owns or controls patent and patent applications for injectable collagenase to treat Dupuytren’s contracture, Peyronie’s disease and Frozen shoulder syndrome, and for the removal of adipose tissue.
Collagenase is an enzyme that breaks down collagen. Collagen is the main ingredient of scar tissue.
XIAFLEX (collagenase clostridium histolyticum) has Orphan Drug protection in the U.S. until 2017, Drug product composition patent until 2028 and Biologic Exclusivity until 2022 for the treatment of Dupuytren’s contracture. For the treatment of Peyronie’s disease, XIAFLEX has Orphan Drug protection in the U.S. until 2020 and Drug product composition patent until 2028.
BioSpecifics Technologies Corp also has additional patents pending.
Background & Future
- BioSpecifics was launched in 1957. It is one of the oldest biopharmaceutical companies in New York State.
- Some of BioSpecifics early work came out of Columbia University. In the 1980s, BioSpecifics entered into a developmental partnership with The University of California, Los Angeles (UCLA) and this partnership is still active today.
- BioSpecific is known for its many successful collaborations with local Long Island biotech experts. Some of the initial work with XIAFLEX was carried out in Stony Brook University laboratories.
- BioSpecifics Technologies Corp was incorporated in 1990 in the state of Delaware.
- BioSpecifics Technologies Corp made their Initial Public Offering (IPO) in 1991.
- I January 2015, BioSpecific’s strategic partner, Auxilium Pharmaceuticals, Inc. was acquired by Endo International plc (Endo). Since then, XIAFLEX has been marketed by Endo in the United States, and Endo is also managing the research and development of collagenase clostridium histolyticum for licensed indications.
- Examples of strategic partners for non-US markets are Actelion Pharmaceuticals Ltd for Canada, Australia, Brazil and Mexico, Asahi Kasei Pharma Corporation for Japan and Swedish Orphan Biovitrum AB for 70+ European, Asian and African countries.
- In addition to Dupuytren’s contracture and Peyronie’s disease, BioSpecific’s injectable collagenase is showing great potential for the treatment of over ten other conditions, including keloids and uterine fibroids.
|Company type||Public company|
|Traded as||NASDAQ: BSTC|
|Headquartered||Lynbrook, New York, USA|
- 35 Wilbur St.
- Lynbrook, NY 11563
- Phone #: 516-593-7000
- Fax #: 516-593-7039
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