Biofrontera AG announces the closing of the capital raise with gross proceeds of EUR 24.7 million - Seite 2

The Benchmark Company, LLC and Lake Street Capital Markets have been acting as the managing underwriter with Lake Street Capital Markets as the “qualified independent underwriter” in connection with the ADS Offering.

In Germany, Quirin Privatbank in Berlin have been acting as Global Coordinator, European Bookrunner and Subscription Agent for the subscription rights offering.

A registration statement on Form F-3 relating to this U.S. offering has been filed with, and declared effective by, the Securities and Exchange Commission (“SEC”). The U.S. offering of these securities is being made only by means of a prospectus supplement, forming a part of the effective registration statement and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement relating to the U.S. offering, when available, may be obtained from Biofrontera, with an address of Hemmelrather Weg 201, D-51377, Leverkusen, Germany Telephone: [phone], email: [e-mail]. In addition, the registration statement, including the prospectus supplement, is available to the public at www.sec.gov or www.biofrontera.com. In addition, you may contact The Benchmark Company by calling 212-312-6700 or [e-mail].

Legal counsel to the Company were McGuireWoods LLP in the U.S and LLR Rechtsanwälte PartG mbB in Germany.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.

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For enquiries, please contact: Biofrontera AG Thomas Schaffer, Chief Financial Officer Pamela Keck, Head of IR

[e-mail] [phone]

About Biofrontera:

Biofrontera AG is a biopharmaceutical company specializing in the development and sale of dermatological drugs and medical cosmetics.

The Germany-based company, with over 150 employees worldwide, develops and markets innovative products for the care, protection and treatment of the skin. The company’s lead product is the combination of Ameluz, a topical prescription drug, and medical device BF-RhodoLED for the photodynamic therapy of certain superficial skin cancers and their precursors. Ameluz has been marketed in the EU since 2012 and in the United States since May 2016. In addition, the company markets the prescription medication Xepi for the treatment of impetigo in the United States. In the EU, the company also sells the dermocosmetics series Belixos, which offers specialized care for damaged or diseased skin.