Biofrontera AG Private Placement (2324P)
February 16 2016 - 8:58AM
UK Regulatory
TIDMB8F
RNS Number : 2324P
Biofrontera AG
16 February 2016
Biofrontera AG
("Biofrontera" or the "Company")
Private Placement
Leverkusen, Germany, February 16, 2016 - The Management Board of
Biofrontera AG (FSE: B8F) has resolved on 12 February 2016, with
the approval of the Supervisory Board, to increase the registered
share capital of the Company by up to EUR 2,357,384 from authorized
capital by issuing up to 2,357,384 new no-par registered shares
("New Shares"). The shareholders' subscription right is excluded.
The New Shares were offered to selected institutional investors at
an issue price of EUR 1.90 per New Share, for a total issue price
of EUR 4,479,029.60. All shares were successfully placed today.
The net proceeds of approx. EUR 4.4 million will be used to
cover the operational expenses of the Company and the further
development of marketing the Company's main product Ameluz(R).
Currently, Ameluz(R) is approved for the treatment of actinic
keratosis in the EU. With the proceeds from this issue, the Company
intends to support the regulatory approval and commercialization in
the US as well as the extension of the European approval of
Ameluz(R) for treatment of basal cell carcinoma.
The Management Board
Ends
Enquiries, please contact:
Biofrontera AG +49 (0) 214 87 63
Thomas Schaffer, 2 0
Chief Financial Officer press@biofrontera.com
www.biofrontera.com
IR Germany: Brainwell
Asset Solutions
Jürgen Benker +49 (0) 152 08931514
Nomad and Broker:
Shore Capital
Bidhi Bhoma / Toby
Gibbs +44(0) 20 7408 4090
IR UK: Seton Services
Toni Vallen +44(0) 20 7729 0805
Financial PR: Gable
Communications
John Bick / Justine +44(0) 20 7193 7463
James +44 (0)7872 061007
Background:
Biofrontera Group (FSE/AIM: B8F, ISIN DE0006046113) is a
biopharmaceutical company specialising in the development, sale and
distribution of drugs and medical cosmetics for the care and
treatment of skin diseases. Biofrontera's most important product is
Ameluz(R) , a prescription drug which is approved in Europe for the
treatment of mild and moderate actinic keratosis (superficial skin
cancer) with photodynamic therapy (light therapy). Biofrontera is
the first German pharmaceutical start-up company to obtain
centralised approval for a drug it has developed itself. The
company also plans for Ameluz(R) to be approved for basal cell
carcinoma and is currently preparing for approval in other
countries, especially in the largest pharmaceutical market in the
world, the United States.
The company also markets the Belixos(R) dermatological range of
cosmetics. Belixos(R) products, a cream, a gel and a scalp tonic,
contain combinations of active substances extracted from plants,
relieve itching and redness and are used for the regenerative care
of chronic skin conditions such as atopic dermatitis or psoriasis.
The Belixos(R) Protect, a daily skincare for sun-damaged skin,
complements this dermo-cosmetic line. All products are available
through Amazon.
The Biofrontera Group was established in 1997 by Prof. Dr
Hermann Lübbert, the Chairman of the company's Management Board,
and has its headquarters in Leverkusen, Germany.
www.biofrontera.com
This communication expressly or implicitly contains certain
forward-looking statements concerning the business activities of
Biofrontera AG. These forward-looking statements reflect the
opinion of Biofrontera at the time of this communication and
involve certain known and unknown risks. The actual results
achieved by Biofrontera may differ significantly from future
results or performances which are published in its forward-looking
statements. Biofrontera assumes no responsibility to update its
forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 16, 2016 08:58 ET (13:58 GMT)
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