Unassociated Document
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________

SCHEDULE 13G
Under the Securities Exchange Act of 1934
 
 
BioSpecifics Technologies Corp.
 (Name of Issuer)
 
 
Common Stock, par value $0.001 per share
 (Title of Class of Securities)
 
 
090931106
 (CUSIP Number)
 
 
July 1, 2010
(Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which the Schedule is filed:

 
o
Rule 13d-1(b)

 
x
Rule 13d-1(c)

 
o
Rule 13d-1(d)
 


CUSIP No.  090931106
13G
     
1.
NAMES OF REPORTING PERSONS
  
     
 
Duke University
  
     
  I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  
56-0532129
  
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  
   
(a) o
    
(b) x
3.
SEC USE ONLY
  
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
  
North Carolina
  
 
5.
SOLE VOTING POWER
     
   
0
NUMBER OF
6.
SHARED VOTING POWER
SHARES
    
BENEFICIALLY
  
172,766
OWNED BY
7.
SOLE DISPOSITIVE POWER
EACH
    
REPORTING
  
0
PERSON WITH
8.
SHARED DISPOSITIVE POWER
     
   
172,766
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  
     
 
172,766
  
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
  
     
   
o
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  
     
 
2.75%
  
12.
TYPE OF REPORTING PERSON
  
     
 
OO
  
 
 
CUSIP No.  090931106
13G
     
1.
NAMES OF REPORTING PERSONS
  
     
 
The Duke Endowment
  
     
  I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  
56-0529965
  
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  
   
(a) o
    
(b) x
3.
SEC USE ONLY
  
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
  
North Carolina
  
 
5.
SOLE VOTING POWER
     
   
0
NUMBER OF
6.
SHARED VOTING POWER
SHARES
    
BENEFICIALLY
  
76,933
OWNED BY
7.
SOLE DISPOSITIVE POWER
EACH
    
REPORTING
  
0
PERSON WITH
8.
SHARED DISPOSITIVE POWER
     
   
76,933
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  
     
 
76,933
  
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
  
     
   
o
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  
     
 
1.23%
  
12.
TYPE OF REPORTING PERSON
  
     
 
OO
  
 
 
CUSIP No.  090931106
13G
     
1.
NAMES OF REPORTING PERSONS
  
     
 
Gothic ERP, LLC
  
     
  I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  
58-2255087
  
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  
   
(a) o
    
(b) x
3.
SEC USE ONLY
  
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
  
Georgia
  
 
5.
SOLE VOTING POWER
     
   
0
NUMBER OF
6.
SHARED VOTING POWER
SHARES
    
BENEFICIALLY
  
23,721
OWNED BY
7.
SOLE DISPOSITIVE POWER
EACH
    
REPORTING
  
0
PERSON WITH
8.
SHARED DISPOSITIVE POWER
     
   
23,721
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  
     
 
23,721
  
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
  
     
   
o
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  
     
 
0.38%
  
12.
TYPE OF REPORTING PERSON
  
     
 
OO
  
 
 
CUSIP No.  090931106
13G
     
1.
NAMES OF REPORTING PERSONS
  
     
 
Gothic HSP
  
     
  I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  
27-1325761
  
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  
   
(a) o
    
(b) x
3.
SEC USE ONLY
  
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
  
North Carolina
  
 
5.
SOLE VOTING POWER
     
   
0
NUMBER OF
6.
SHARED VOTING POWER
SHARES
    
BENEFICIALLY
  
54,244
OWNED BY
7.
SOLE DISPOSITIVE POWER
EACH
    
REPORTING
  
0
PERSON WITH
8.
SHARED DISPOSITIVE POWER
     
   
54,244
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  
     
 
54,244
  
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
  
     
   
o
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  
     
 
0.86%
  
12.
TYPE OF REPORTING PERSON
  
     
 
OO
  
 
 
CUSIP No.  090931106
13G
     
1.
NAMES OF REPORTING PERSONS
  
     
 
DUMAC, LLC
  
     
  I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  
65-1319939
  
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  
   
(a) o
    
(b) x
3.
SEC USE ONLY
  
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
  
North Carolina
  
 
5.
SOLE VOTING POWER
     
   
0
NUMBER OF
6.
SHARED VOTING POWER
SHARES
    
BENEFICIALLY
  
327,664
OWNED BY
7.
SOLE DISPOSITIVE POWER
EACH
    
REPORTING
  
0
PERSON WITH
8.
SHARED DISPOSITIVE POWER
     
   
327,664
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  
     
 
327,664
  
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
  
     
   
o
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  
     
 
5.22%
  
12.
TYPE OF REPORTING PERSON
  
     
 
IA
  
 
 
CUSIP No.  090931106
13G
     
1.
NAMES OF REPORTING PERSONS
  
     
 
Blackwell Partners LLC
  
     
  I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  
20-8075455
  
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  
   
(a) o
    
(b) x
3.
SEC USE ONLY
  
     
     
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
   Georgia  
 
5.
SOLE VOTING POWER
     
   
0
NUMBER OF
6.
SHARED VOTING POWER
SHARES
    
BENEFICIALLY
  
327,664
OWNED BY
7.
SOLE DISPOSITIVE POWER
EACH
    
REPORTING
  
0
PERSON WITH
8.
SHARED DISPOSITIVE POWER
     
   
327,664
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  
     
 
327,664
  
10.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
  
     
   
o
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  
     
 
5.22%
  
12.
TYPE OF REPORTING PERSON
  
     
 
IV
  
 
 
Item 1(a).
Name of Issuer:

BioSpecifics Technologies Corp.

Item 1(b).
Address of Issuer’s Principal Executive Offices:

35 Wilbur Street
Lynbrook, NY 11563

Item 2(b).
Name of Person Filing:

Duke University
The Duke Endowment
Gothic ERP, LLC
Gothic HSP
DUMAC, LLC
Blackwell Partners LLC

Item 2(b).
Address of Principal Business Office:

Duke University
c/o DUMAC, LLC
406 Blackwell Street, Suite 300
Durham, NC  27701

The Duke Endowment
c/o DUMAC, LLC
406 Blackwell Street, Suite 300
Durham, NC  27701

Gothic ERP, LLC
c/o DUMAC, LLC
406 Blackwell Street, Suite 300
Durham, NC  27701

Gothic HSP
c/o DUMAC, LLC
406 Blackwell Street, Suite 300
Durham, NC  27701

DUMAC, LLC
c/o DUMAC, LLC
406 Blackwell Street, Suite 300
Durham, NC  27701

Blackwell Partners LLC
c/o DUMAC, LLC
406 Blackwell Street, Suite 300
Durham, NC  27701

 
Item 2(c).
Citizenship:

Duke University
North Carolina

The Duke Endowment
North Carolina

Gothic ERP, LLC
Georgia

Gothic HSP
North Carolina

DUMAC, LLC
North Carolina

Blackwell Partners LLC
Georgia

Item 2(d).
Title of Class of Securities

Common Stock, $0.001 par value

Item 2(e).
CUSIP Number:

090931106
 

CUSIP No. 090931106
 
    

Item 3.
If this statement is filed pursuant to rule 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

  (a) ___ Broker or dealer registered under Section 15 of the Act.
       
 
(b)
___
Bank as defined in Section 3(a)(6) of the Act.
       
 
(c)
___
Insurance company as defined in Section 3(a)(19) of the Act.
       
 
(d)
 ___
Investment company registered under Section 8 of the Investment Company Act of 1940.
       
 
(e)
___
An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).
       
 
(f)
___
An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F).
       
 
(g)
___
A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G).
       
 
(h)
___
A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
       
  (i)
___
A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940.
       
 
(j)
___
Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
 
 
Item 4.
Ownership

DUMAC, LLC (“DUMAC”) is a North Carolina limited liability company formed by Duke University and The Duke Endowment, a charitable trust established in 1924 by James B. Duke, to provide the members and their affiliated entities with investment management services on a not-for-profit basis.  Duke University owns approximately 74% of the membership interests in DUMAC, while The Duke Endowment owns the remainder, or approximately 26%.  As a result, Duke University is deemed to control DUMAC.  Blackwell Partners LLC (“Blackwell”) is a Georgia limited liability company through which Duke University; Gothic ERP, LLC; Gothic HSP and the Duke Endowment make certain of their segregated account investments.  Each of Duke University; Gothic ERP, LLC; Gothic HSP the Duke Endowment and Blackwell receive investment management services from DUMAC.

As of the date of this filing, Blackwell holds and beneficially owns 327,664 shares of common stock of BioSpecifics Technologies Corp. (“Biospecifics”), which constitutes approximately 5.22% of BioSpecifics’ outstanding common shares as reported in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2009 filed on November 2, 2009.  DUMAC has been granted sole discretion over all investment and voting decisions for the shares held by Blackwell on behalf of Duke University, The Duke Endowment, Gothic ERP LLC, and Gothic HSP.  As a result, DUMAC shares beneficial ownership of these 327,664 shares with Blackwell.

Duke University owns approximately 52.7% of the membership interests of Blackwell through its wholly-owned subsidiary, Gothic Corporation.  As a result, Duke University is deemed to control Blackwell and beneficially owns approximately 172,766 shares of BioSpecifics’ common stock held by Blackwell.

The Duke Endowment owns approximately 23.5% of the membership interests of Blackwell.  As a result, The Duke Endowment beneficially owns approximately 76,933 shares of BioSpecifics’ common stock held by Blackwell.

Gothic ERP, LLC owns approximately 7.2% of the membership interests of Blackwell.  As a result, The Duke Endowment beneficially owns approximately 23,721 shares of BioSpecifics’ common stock held by Blackwell.

Gothic HSP owns approximately 16.6% of the membership interests of Blackwell.  As a result, The Duke Endowment beneficially owns approximately 54,244 shares of BioSpecifics’ common stock held by Blackwell.

Item 5.
Ownership of Five Percent or Less of Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [   ].

Item 6.
Ownership of More Than 5 Percent on Behalf of Another Person

Not applicable.

Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

Not Applicable.
 
Item 8.
Identification and Classification of Members of the Group

Not Applicable.
 
Item 9.
Notice of Dissolution of Group

Not Applicable.

Item 10.
Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DATED:  September 17, 2010
 
 
Duke University
  
       
By:
/s/ Bart J. Brunk  
    Name:  Bart J. Brunk  
    Title:    Controller  
   
 DUMAC, LLC
  
 
 
Blackwell Partners LLC
  
       
By:
/s/ Bart J. Brunk  
    Name:  Bart J. Brunk  
    Title:    Controller  
   
 DUMAC, LLC
  
 
  DUMAC, LLC  
       
By:
/s/ Bart J. Brunk  
    Name:  Bart J. Brunk  
    Title:    Controller  
   
 DUMAC, LLC
  
 
  The Duke Endowment  
       
By:
/s/ Bart J. Brunk  
    Name:  Bart J. Brunk  
    Title:    Controller  
   
 DUMAC, LLC
  
 
  Gothic ERP, LLC  
       
By:
/s/ Bart J. Brunk  
    Name:  Bart J. Brunk  
    Title:    Controller  
   
 DUMAC, LLC
  
 
  Gothic HSP  
       
By:
/s/ Bart J. Brunk  
    Name:  Bart J. Brunk  
    Title:    Controller  
   
 DUMAC, LLC