Biofrontera Inc. Fully Exercises Recently Acquired Options to Purchase Shares of Biofrontera AG
November 08 2022 - 4:45PM
Biofrontera Inc. (Nasdaq:
BFRI), a biopharmaceutical company specializing in the
commercialization of dermatological products, announced today the
exercise in full of options to purchase 2,623,365 ordinary shares
of Biofrontera AG. These options were acquired in a private
exchange agreement as announced on October 31, 2022, and were
exercised at no additional cost. Furthermore, Biofrontera Inc.
announced the purchase of additional 1,601,318 shares of
Biofrontera AG.
As a result of this transaction, Biofrontera
Inc. now owns 4,224,683 shares, corresponding to 7.45% of
Biofrontera AG’s outstanding ordinary shares.
“Biofrontera Inc. is responsible for sales of
Biofrontera AG’s products in the world’s largest dermatology
market, is the primary driver of their growth and is their largest
source of revenue. The full exercise of these options further
strengthens and aligns the mutually beneficial relationship between
our two companies,” stated Erica Monaco, Chief Executive Officer of
Biofrontera Inc.
About Biofrontera Inc.
Biofrontera Inc. is a U.S.-based
biopharmaceutical company commercializing a portfolio of
pharmaceutical products for the treatment of dermatological
conditions with a focus on photodynamic therapy (PDT) and topical
antibiotics. The Company’s licensed products are used for the
treatment of actinic keratoses, which are pre-cancerous skin
lesions, as well as impetigo, a bacterial skin infection. For more
information, visit www.biofrontera-us.com.
Forward-Looking Statements
Certain statements in this press release may
constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995, as
amended to date. These statements include, but are not limited to,
statements relating to the Company’s relationship with Biofrontera
AG, including the continued beneficial ownership in Biofrontera AG,
and plans for ongoing collaboration. We have based these
forward-looking statements on our current expectations and
projections about future events, nevertheless, actual results or
events could differ materially from the plans, intentions and
expectations disclosed in, or implied by, the forward-looking
statements we make. These risks and uncertainties, many of which
are beyond our control, including, but not limited to, the impact
of extraordinary external events, such as the current COVID-19
pandemic; any changes in the Company’s relationship with its
licensors; the ability of the Company’s licensors to fulfill their
obligations to the Company in a timely manner; the Company’s
ability to achieve and sustain profitability; whether the current
global disruptions in supply chains will impact the Company’s
ability to obtain and distribute its licensed products; changes in
the practices of healthcare providers, including any changes to the
coverage, reimbursement and pricing for procedures using the
Company’s licensed products; the uncertainties inherent in the
initiation and conduct of clinical trials; availability and timing
of data from clinical trials; whether results of earlier clinical
trials or trials of Ameluz® in combination with
BF-RhodoLED® in different disease indications or product
applications will be indicative of the results of ongoing or future
trials; uncertainties associated with regulatory review of clinical
trials and applications for marketing approvals; whether the market
opportunity for Ameluz® in combination with
BF-RhodoLED® is consistent with the Company’s expectations;
the Company’s ability to complete the transition to a public
company; the Company’s ability to retain and hire key personnel;
the sufficiency of cash resources and need for additional financing
and other factors that may be disclosed in the Company’s filings
with the SEC, which can be obtained on the SEC website
at www.sec.gov . Readers are cautioned not to place undue
reliance on the forward-looking statements, which speak only as of
the date on which they are made and reflect management's current
estimates, projections, expectations and beliefs. The Company does
not plan to update any such forward-looking statements and
expressly disclaims any duty to update the information contained in
this press release except as required by law.
Contacts
Biofrontera Inc.Anke zur
Mühlen+1 781 486 1539us-ir@biofrontera.com
LHA Investor RelationsTirth T.
Patel+1 212 201 6614tpatel@lhai.com
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