WOBURN, Mass., Nov. 08, 2022 (GLOBE NEWSWIRE) — 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.
