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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
      D.C. 20549</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
      TO SECTION 13 OR 15(D) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OF
      THE
      SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (Date of Earliest Event Reported): March 9, 2006 (March 3,
      2006)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>BIOSPECIFICS
      TECHNOLOGIES CORP.</strong></font></div>
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      <hr style="COLOR: black" align="left" noshade size="1" width="100%">
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      name of registrant as specified in its charter)</font></div>
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              </td>
              <td valign="top" width="32%" style="border-bottom: black thin solid;">
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              </td>
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                  or Other Jurisdiction Of Incorporation)</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                  File Number)</font></div>
              </td>
              <td valign="top" width="34%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                  Employer Identification No.)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>35
      Wilbur Street</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Lynbrook,
      NY 11563</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
      of Principal Executive Office) (Zip Code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>516.593.7000</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant&#8217;s
      telephone number, including area code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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:</font></div>
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                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)</font></div>
            </td>
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          <tr>
            <td align="left" valign="top" width="5%">&#160;</td>
            <td align="left" valign="top" width="95%">&#160;</td>
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            </td>
            <td align="left" valign="top" width="95%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)</font></div>
            </td>
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          <tr>
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            <td align="left" valign="top" width="95%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></font></div>
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            <td align="left" valign="top" width="95%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))</font></div>
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            <td align="left" valign="top" width="95%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -36pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
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    <div>&#160;</div>
    <div>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Item
      2.01 - Completion of Acquisition or Disposition of
      Assets.</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BioSpecifics
      Technologies Corp. (&#8220;BTC&#8221;) and Advance Biofactures Corporation (&#8220;ABC&#8221;), a direct
      wholly-owned subsidiary of BTC, entered into an asset purchase agreement (the
      &#8220;Asset Purchase Agreement&#8221;) with DFB Biotech, Inc. (&#8220;DFB Biotech&#8221;), dated as of
      March 3, 2006, for the sale by BTC and ABC, and the purchase by DFB Biotech,
      of
      certain assets owned by BTC and ABC relating to their topical collagenase
      business. DFB Biotech delivered the $8,000,000 cash purchase price, and BTC,
      ABC
      and DFB Biotech finalized the sale, on March 6, 2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">At
      the
      Closing, DFB Biotech acquired all of the issued and outstanding shares of
      Advance Biofactures of Cura&#231;ao N.V., a direct wholly-owned subsidiary of BTC
      (&#8220;ABCura&#231;ao&#8221;) organized under the laws of the Netherlands Antilles. ABCura&#231;ao
      manufactures a fermentation derived enzyme called Collagenase ABC, the principal
      component of the collagenase ointment (used for debriding chronic dermal ulcers
      and severely burned areas) manufactured by BTC and marketed by Abbott
      Laboratories Inc. under the registered trademark SANTYL&#174;.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      addition, at the closing, DFB Biotech, through its affiliate DPT Lakewood Inc.
      (&#8220;DPT Lakewood&#8221;), (i) acquired from ABC certain inventory and manufacturing
      equipment used in the topical collagenase business, (ii) was granted a perpetual
      royalty free license to use, solely in connection with the topical collagenase
      business, certain intangible assets retained by ABC, and (iii) was granted
      the
      right (for a limited period of time) to use, solely in connection with the
      topical collagenase business, certain tangible assets retained by ABC.
</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      consideration for the purchased assets BTC and ABC received $8,000,000 in cash,
      DFB Biotech&#8217;s assumption of certain liabilities, and the right to receive earn
      out payments in the future based on sales of certain products. In connection
      with the Closing of the Asset Purchase Agreement, ABC agreed to provide certain
      technical assistance and certain transition services to DPT Lakewood in
      consideration of fees and costs totaling over $1.4 million. At the Closing,
      DFB
      Biotech paid to ABC a partial payment of $400,000 in respect of the technical
      assistance to be provided by ABC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Asset
      Purchase Agreement also contains other customary representations and warranties,
      covenants, and indemnification provisions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Closing was subject to customary closing conditions including the entry into
      certain other ancillary agreements that were mutually acceptable by the
      parties.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Following
      the sale, BTC and ABC continue to own material assets relating to their
      injectible collagenase business. BTC plans to continue to develop injectible
      collagenase products for the treatment of Dupuytren&#8217;s disease, Peyronie&#8217;s
      disease, Frozen Shoulder and other clinical indications, through ABC and in
      conjunction with Auxilium Pharmaceuticals, Inc. (&#8220;Auxilium&#8221;), pursuant to a
      Development and License Agreement, dated June 3, 2004, between BTC and Auxilium,
      as amended.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01. Financial Statements and Exhibits.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(d)</strong></font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibits</strong></font></div>
    </div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
                Number</strong></font></div>
            </td>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description
                of Exhibit</strong></font></div>
            </td>
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          <tr>
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            <td align="left" valign="top" width="80%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.1</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Asset
                Purchase Agreement, dated March 3, 2006, among BTC, ABC and DFB Biotech,
                Inc. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Portions
                of the Asset Purchase Agreement have been omitted pursuant to a request
                for confidential treatment.)</font></div>
            </td>
          </tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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. </font></div>
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                March 9, 2006</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>BIOSPECIFICS
                TECHNOLOGIES CORP.</strong></font></div>
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            <td>&#160;</td>
            <td colspan="2">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">&#160;(Registrant)</font></div>
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                Wegman</font>&#160;</div>
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                  Wegman </font></div>
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{"company-data": {"conformed-name": "BIOSPECIFICS TECHNOLOGIES CORP", "cik": "0000875622", "assigned-sic": "2834", "irs-number": "113054851", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19879", "film-number": "06677008"}, "business-address": {"street1": "35 WILBUR ST", "city": "LYNBROOK", "state": "NY", "zip": "11563", "phone": "5165937000"}, "mail-address": {"street1": "35 WILBUR STREET", "city": "LYNBROOK", "state": "NY", "zip": "11563"}}
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): March 9, 2006 (March 3,
      2006)
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,
      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:
o
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)
o
Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)
o
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
o
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
Item
      2.01 - Completion of Acquisition or Disposition of
      Assets.
BioSpecifics
      Technologies Corp. ("BTC") and Advance Biofactures Corporation ("ABC"), a direct
      wholly-owned subsidiary of BTC, entered into an asset purchase agreement (the
      "Asset Purchase Agreement") with DFB Biotech, Inc. ("DFB Biotech"), dated as of
      March 3, 2006, for the sale by BTC and ABC, and the purchase by DFB Biotech,
      of
      certain assets owned by BTC and ABC relating to their topical collagenase
      business. DFB Biotech delivered the $8,000,000 cash purchase price, and BTC,
      ABC
      and DFB Biotech finalized the sale, on March 6, 2006.
At
      the
      Closing, DFB Biotech acquired all of the issued and outstanding shares of
      Advance Biofactures of Curaçao N.V., a direct wholly-owned subsidiary of BTC
      ("ABCuraçao") organized under the laws of the Netherlands Antilles. ABCuraçao
      manufactures a fermentation derived enzyme called Collagenase ABC, the principal
      component of the collagenase ointment (used for debriding chronic dermal ulcers
      and severely burned areas) manufactured by BTC and marketed by Abbott
      Laboratories Inc. under the registered trademark SANTYL®.
In
      addition, at the closing, DFB Biotech, through its affiliate DPT Lakewood Inc.
      ("DPT Lakewood"), (i) acquired from ABC certain inventory and manufacturing
      equipment used in the topical collagenase business, (ii) was granted a perpetual
      royalty free license to use, solely in connection with the topical collagenase
      business, certain intangible assets retained by ABC, and (iii) was granted
      the
      right (for a limited period of time) to use, solely in connection with the
      topical collagenase business, certain tangible assets retained by ABC.
As
      consideration for the purchased assets BTC and ABC received $8,000,000 in cash,
      DFB Biotech's assumption of certain liabilities, and the right to receive earn
      out payments in the future based on sales of certain products. In connection
      with the Closing of the Asset Purchase Agreement, ABC agreed to provide certain
      technical assistance and certain transition services to DPT Lakewood in
      consideration of fees and costs totaling over $1.4 million. At the Closing,
      DFB
      Biotech paid to ABC a partial payment of $400,000 in respect of the technical
      assistance to be provided by ABC.
The
      Asset
      Purchase Agreement also contains other customary representations and warranties,
      covenants, and indemnification provisions.
The
      Closing was subject to customary closing conditions including the entry into
      certain other ancillary agreements that were mutually acceptable by the
      parties.
Following
      the sale, BTC and ABC continue to own material assets relating to their
      injectible collagenase business. BTC plans to continue to develop injectible
      collagenase products for the treatment of Dupuytren's disease, Peyronie's
      disease, Frozen Shoulder and other clinical indications, through ABC and in
      conjunction with Auxilium Pharmaceuticals, Inc. ("Auxilium"), pursuant to a
      Development and License Agreement, dated June 3, 2004, between BTC and Auxilium,
      as amended.
Item
      9.01. Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
                Number
Description
                of Exhibit
2.1
Asset
                Purchase Agreement, dated March 3, 2006, among BTC, ABC and DFB Biotech,
                Inc.
(Portions
                of the Asset Purchase Agreement have been omitted pursuant to a request
                for confidential treatment.)
99.1
Press
                Release
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:
                March 9, 2006
BIOSPECIFICS
                TECHNOLOGIES CORP.
(Registrant)
/s/Thomas
                Wegman
Thomas
                  Wegman
President