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) June 3, 2004

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)	(I.R.S. Employer Identification No.)

35 Wilbur Street, Lynbrook, New York 11563

(Address of Principal Executive Office) (Zip Code)

(516) 593-7000

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, If Changed Since Last Report.)

Item 5.     Other events

On June 7, 2004, the Company announced (see press release exhibit no. 99.1) that it has signed a development and license agreement with Auxilium Pharmaceuticals, Inc. for an exclusive worldwide license to develop and commercialize certain therapeutic applications for BioSpecifics’ enzyme. Auxilium is to pay license fees, milestone fees, and royalties, as well as a fee for the manufacture of the product. BioSpecifics will manufacture and package the product for all uses worldwide. The agreement does not cover dermal applications of BioSpecifics approved product (Santyl Ointment) now distributed by Ross Products Division of Abbott Laboratories Inc. or the patented wound-healing potentials.

Item 7.     Financial Statements and Exhibits.  

(c)

Exhibits.

Exhibit No.	Exhibit Description
99.1	Press Release

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SIGNATURES

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

	BIOSPECIFICS TECHNOLOGIES CORP.
Date:  June 9, 2004	By:	/s/ THOMAS WEGMAN
		Thomas Wegman Executive Vice President

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INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Press Release

EX-99.1

Exhibit 99.1

BIOSPECIFICS TECHNOLOGIES CORP. ANNOUNCES SIGNING OF DEVELOPMENT AND LICENSE AGREEMENT WITH AUXILIUM PHARMACEUTICALS, INC.

For immediate release

LYNBROOK, NY, June, 7 2004 - BioSpecifics Technologies Corp., (Pinksheets:BSTC) announced today that it has signed a development and license agreement with Auxilium Pharmaceuticals, Inc. for an exclusive worldwide license to develop and commercialize certain therapeutic applications for Biospecifics’ enzyme.

According to BioSpecifics chairman, Edwin H. Wegman, “Auxilium is a growing pharmaceutical company with a track record of accomplishments that gives us confidence that they will aggressively pursue these outstanding opportunities.”

Auxilium is to pay license, milestone fees, and royalties as well as a fee for the manufacture of the product. BioSpecifics will manufacture and package the product for all uses worldwide. The agreement does not cover dermal applications of Biospecifics approved product (Santyl® Ointment) now distributed by Ross Products Division of Abbott Laboratories Inc. or the patented wound-healing potentials.

About BioSpecifics Technologies Corp.

BioSpecifics Technologies Corp. is a biopharmaceutical company focused on wound healing and tissue remodeling. It has pioneered the application of Collagenase for several disease conditions, notably dermal ulcers, pressure sores (bedsores), and second and third degree burns. BioSpecifics produces Collagenase ABC, the essential ingredient in the prescription drug Collagenase Santyl(R) Ointment sold in the United States, and under other trademarks abroad. The Ross Products Division of Abbott Laboratories Inc. assumed United States marketing responsibility for Collagenase Santyl® Ointment effective Jan. 1, 2004. Abbott Laboratories manufactures Collagenase Santyl® Ointment using BioSpecifics' collagenase ABC enzyme as the essential ingredient. This prescription ointment is indicated for debridement of chronic dermal ulcers and second and third degree burns. Collagenase Santyl® Ointment is sold primarily to long-term care centers, where Abbott's Ross Products Division has built a strong market position and reputation.

Santyl is a registered trademark of Abbott Laboratories.

BioSpecifics' main website is at

www.biospecifics.com

its Dupuytren's Disease patient discussion forum at

www.biospecifics.com/forum/

and its Peyronie's Disease patient discussion forum at

www.biospecifics.com/forum/index2

SOURCE BioSpecifics Technologies Corp

Thomas Wegman of BioSpecifics Technologies Corp.,

+1-516-593-7000

Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, liquidity and adequate funding, government regulation, the ability of the Company to adequately address concerns of the FDA, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies, and other risk factors detailed in the Company's filings with the Securities and Exchange Commission. Further, any forward looking statement or statements speak only as of the date on which such statements were made, and we undertake no obligation to update any forward looking statement or statements to reflect events or circumstances after the date on which such statement or statements were made.