BioSpecifics Technologies Corp. announced that the Board of Directors of the Company approved the appointment of Mr. Patrick C. Hutchison as Chief Financial Officer of the Company, effective as of January 6, 2020 (the Effective Date). Mr. Hutchison, 61, served as the Chief Financial Officer of SwanBio Therapeutics (SwanBio), on a part-time basis from April 2019 through December 2019.

Before SwanBio, from April 2017 to August 2018, Mr. Hutchison served as the Chief Financial Officer of Innocoll Inc. Prior to the Effective Date, Mr. Patrick Caldwell was serving as the Company's interim Principal Financial Officer. On the Effective Date, the Company provided notice to Mr. Caldwell of its intent to terminate Mr. Caldwell's Consulting Agreement, dated April 1, 2019, with such termination effective as of March 31, 2020. Mr. Caldwell will continue to be employed by the Company through March 31, 2020, during which time he will serve as the Company's Principal Accounting Officer and assist in the transition of his responsibilities and duties to Mr. Hutchison.