Leverkusen, Germany, Feb. 16, 2016 (GLOBE NEWSWIRE) -- 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 mio will be used to cover the operational expenses of the Company and the further development of marketing the Company's main product BF-200 ALA. Currently, BF-200 ALA 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 BF-200 ALA for treatment of basal cell carcinoma.
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®, 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® 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® dermatological range of cosmetics. Belixos® 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® 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.
For more information, visit 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.
Source: Biofrontera AG