BioSpecifics Announces First Commercial Sale Of Xiaflex In Japan - Quick Facts

(RTTNews) - BioSpecifics Technologies Corp. (BSTC) said that the first commercial sale of Xiaflex, or collagenase clostridium histolyticum or CCH, by Asahi Kasei Pharma Corp. for the treatment of Dupuytren's contracture in Japan has triggered a $1 million milestone payment to BioSpecifics.

Asahi Kasei Pharma has the rights to develop and market Xiaflex in Japan for Dupuytren's contracture and Peyronie's disease through an agreement with BioSpecifics' partner Endo International plc.

Under the terms of BioSpecifics' agreement with Endo, in addition to receiving a $1 million milestone payment related to the first commercial sale of Xiaflex in Japan, BioSpecifics will receive royalties on net sales, mark-up on cost of goods sold and sales-based milestone payments.

Dupuytren's contracture is caused by an abnormal accumulation of collagen in the palm of the hand characterized by the formation of nodules or lumps in the early stages. As the disease progresses, a cord is formed and the fingers may become progressively contracted. Once the Dupuytren's collagen cord can be felt, it is referred to as a "palpable cord."