LYNBROOK, N.Y.,
Oct. 23, 2019 /PRNewswire/ --
BioSpecifics Technologies Corp. (NASDAQ: BSTC), a biopharmaceutical
company that originated and continues to develop collagenase-based
therapies with a first in class product marketed as
XIAFLEX® in the U.S. and
Xiapex® in Europe, today announced that
Jennifer Chao has been appointed
chairperson of its board of directors, effective immediately. Ms.
Chao has served on the BioSpecifics board as an independent
director since 2015, and also serves as chair of the compensation
committee.
"Jenn's counsel as chairperson of our board will be
instrumental as we seek to unlock new opportunities to generate
value for all our stakeholders. BioSpecifics has accomplished
significant milestones in the last few years and now, as we usher
the company into its next phase of growth, her life sciences
industry expertise will bring an elevated level of strategy,
execution and focus," said J. Kevin
Buchi, chief executive officer of BioSpecifics.
"I look forward to continuing to contribute in my new role
as chairperson. Over the years, we have built a growing,
profitable, commercial-stage organization that is supported by a
diverse development pipeline focused on CCH. I am excited to work
together with the executive leadership team and the board to
develop and execute on our strategy to build upon that momentum as
we look to the future," said Ms. Chao.
Ms. Chao is the founder of CoreStrategies Management, LLC,
a strategic consulting firm, and she works integrally with senior
management and Boards to provide transformational corporate and
financial strategies for maximizing core valuation. Ms. Chao was
previously a Managing Director and Senior Lead Biotechnology
Securities Analyst at Deutsche Bank, covering large- and small to
mid-cap biotechnology/life science companies. Her widely published
research served as a bellwether for investment portfolio managers,
the financial and health care industry and was widely covered by
major press outlets. Prior to this, Ms. Chao was also a Managing
Director and Senior Lead Biotechnology Analyst at RBC Capital
Markets and a Senior Analyst in Biotechnology with Leerink Swann
& Co. She was also a Research Fellow at Massachusetts General
Hospital/Harvard Medical School and
received her B.A. in Politics and Greek Classics from New York University.
About BioSpecifics Technologies
Corp.
BioSpecifics Technologies Corp. is a
commercial-stage biopharmaceutical company. The company discovered
and developed a proprietary form of injectable collagenase (CCH)
which is currently marketed by BioSpecifics' partner, Endo
International plc (Endo), as XIAFLEX® in the U.S. for the
treatment of Dupuytren's contracture and Peyronie's disease. Endo
expects a commercial launch in the second half of 2020 for a third
CCH indication, cellulite, subject to U.S. Food and Drug
Administration approval. The CCH research and development pipeline
includes several additional potential indications; adhesive
capsulitis, lipomas, lateral hip fat, plantar fibromatosis and
uterine fibroids. For more information, please
visit www.biospecifics.com.
Forward-Looking
Statements
This press release includes
"forward-looking statements" within the meaning of, and made
pursuant to the safe harbor provisions of, the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical fact, including statements regarding
BioSpecifics' strategy, future operations, future financial
position, future revenues, projected costs, prospects, plans and
objectives of management and the Board, expected revenue growth,
shareholder value, the commercial launch of XIAFLEX® for the
treatment of cellulite, the timing and occurrence of certain
clinical trials, research and development plans, the effect of
recent management and Board leadership changes, and the assumptions
underlying or relating to such statements, are "forward-looking
statements." In some cases, these statements can be identified by
forward-looking words such as "expect," "plan," "anticipate,"
"potential," "estimate," "can," "will," "continue," "should,"
"believe," "schedule," "intend," the negative or plural of these
words, and other similar expressions. These forward-looking
statements are predictions based on the Company's current
expectations and the Company's projections about future events and
various assumptions. These forward-looking statements involve known
and unknown risks, uncertainties and other factors, which may be
beyond the Company's control, and which may cause the actual
results, performance, or achievements of BioSpecifics to be
materially different from future results, performance, or
achievements expressed or implied by such forward-looking
statements. All forward-looking statements included in this report
are made as of the date hereof, and are expressly qualified in
their entirety by this cautionary notice, including, without
limitation, those risks and uncertainties described in the
Company's annual report on Form 10-K for the year ended
December 31, 2018, and otherwise in
its SEC reports and filings. Except as may be required by law,
BioSpecifics assumes no obligation to update these forward-looking
statements.
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SOURCE BioSpecifics Technologies Corp.