Biofrontera AG

Biofrontera significantly increases its turnover in Germany in 2014

Biofrontera AG / Biofrontera AG: Biofrontera significantly increases its turnover in Germany in 2014 . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

•  Increase in revenues by nearly 30% in Germany

•  Major investment in R&D in order to extend product indications and to prepare for marketing approval in the USA
• Successful completion of the Phase III study for field therapy of actinic keratosis
• Revenues for 2015 expected to increase to EUR 4-5 million

Leverkusen, Germany, 10 April 2015 - Biofrontera AG (FSE/AIM:B8F), the specialist in sun-induced skin cancer, increased its turnover in Germany by more than 27% in the 2014 financial year, to EUR 2.4 million (previous year: EUR 1.9 million). Total sales were nearly constant at EUR 3.1 million. The net loss before tax went from EUR -8.1 million to EUR -10.7 million, which is attributable, among other things, to significantly higher expenses for the ongoing approval process in the USA and the extension of the indications for the main product Ameluz^® in Europe.

Operational progress achieved
Biofrontera has achieved its objectives regarding an increase in turnover in Germany. Sales in other European countries, however, were lower than expected. The reason for this was that the distribution partners in Europe still had stock inventories during 2014 that did not need to be replenished until 2015. Biofrontera continues to pursue its two main strategic objectives: the approval of Ameluz^® to treat actinic keratosis in the USA and the approval of Ameluz^® to treat basal cell carcinoma in Europe. Biofrontera has made significant progress with both issues. The dossier for the US approval is expected to be submitted for approval to the Food and Drug Administration (FDA) in the second quarter of 2015. The Phase III study to extend the indication for Ameluz^® in Europe to basal cell carcinoma will probably be completed by the end of 2015. With the approval of Ameluz^® for actinic keratosis and basal cell carcinoma, sales are expected to increase significantly, also outside of Germany.