8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported):  August 19, 2008

BIOSPECIFICS TECHNOLOGIES CORP.

(Exact name of registrant as specified in its charter)

Delaware	0-19879	11-3054851
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

35 Wilbur Street

Lynbrook, NY  11563

(Address of Principal Executive Office) (Zip Code)

516.593.7000

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Introductory Comment

Throughout this Current Report on Form 8-K, the terms “we,” “us,” “our” and “Company” refer to BioSpecifics Technologies Corp.

ITEM 3.02UNREGISTERED SALES OF EQUITY SECURITIES

On August 19, 2008, the Company closed on the sale of 50,000 shares of its common stock, par value $0.001 (the “Shares”), in a private placement offering to an investment fund at a purchase price of $22.50 per share for aggregate proceeds to the Company of $1,125,000.00 (the “Sale”).

The Shares were offered and sold in reliance on Section 4(2) of the Securities Act of 1933 (the “Act”) as private placements of securities that are exempt from the registration requirements of the Act.

A press release announcing the Sale is attached hereto as Exhibit 99.1.

ITEM 9.01.FINANCIAL STATEMENTS AND EXHIBITS

(d)           Exhibits

99.1 Press Release dated August 20, 2008

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date:  August 21, 2008	BIOSPECIFICS TECHNOLOGIES CORP. —————————————————— (Registrant) /s/ Thomas L. Wegman
	—————————————————— Thomas L. Wegman President

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated August 20, 2008

EX-99.1

Exhibit 99.1

Press Release Source: BioSpecifics Technologies Corp.

BioSpecifics Technologies Corp. Announces Private Placement Offering

Wednesday August 20, 7:55 pm ET

LYNBROOK, N.Y., Aug. 20 /PRNewswire-FirstCall/ -- BioSpecifics Technologies Corp. (OTC Bulletin Board: BSTC - News), a biopharmaceutical company developing first in class collagenase based products, announced today that it raised an aggregate amount of $1,125,000 through the sale of 50,000 unregistered shares of its common stock priced at $22.50 per share. The shares were purchased by certain private investors on August 19, 2008. The shares were sold in a company managed PIPE transaction at a premium over the market price. BioSpecifics did not grant options nor pay any commissions for this transaction.

BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed and licensed injectable collagenase for three clinical indications: Dupuytren's disease, Peyronie's disease and frozen shoulder (adhesive capsulitis). It has a development and licensing agreement with Auxilium Pharmaceuticals.

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