Biofrontera AG: Biofrontera strengthens commercial focus with reorganization of its US business

DGAP-News: Biofrontera AG / Key word(s): Miscellaneous/Personnel
06.01.2020 / 15:00
The issuer is solely responsible for the content of this announcement.

Biofrontera strengthens commercial focus with reorganization of its US business

Leverkusen, Germany, January 6, 2020 - Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the "Company"), an international biopharmaceutical company, today announced a new organizational structure of its American subsidiary Biofrontera Inc. to strengthen its commercial activities in the USA.

The operating business in the USA will, as of today, be managed by Christopher Pearson as Chief Commercial Officer USA and Erica Monaco as Chief Financial Officer USA. Chris Pearson will be responsible for Sales, Marketing and Market Access. Erica Monaco is responsible for Finance & Operations, Human Resources, Legal and Compliance. Organizationally, Biofrontera Inc. is now managed by a 4-member Board of Directors, consisting of Prof. Hermann Lübbert (Chairman) and Thomas Schaffer as non-executive board members, Chris Pearson and Erica Monaco as executive board members.

Prof. Hermann Lübbert, Chief Executive Officer of Biofrontera AG, commented: "With the previous company structure, we rapidly established a highly successful sales organization in the US. Due to the size now achieved, Biofrontera Inc. will further increase its sales power through local operational management, to become even more competitive and successful".

-End-

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 almost 200 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^(R), a topical prescription drug, and medical device BF-RhodoLED^(R) for the photodynamic therapy of certain superficial skin cancers and their precursors. Ameluz^(R) 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(TM) for the treatment of impetigo in the United States. In the EU, the company also sells the dermocosmetics series Belixos^(R), which offers specialized care for damaged or diseased skin.

Biofrontera is the first German founder-led pharmaceutical company to receive a centralized European and a US approval for a drug developed in-house. The Biofrontera Group was founded in 1997 by the current CEO Prof. Dr. Hermann Lübbert and is listed on the Frankfurt Stock Exchange (Prime Standard) and on the US NASDAQ. www.biofrontera.com.

06.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de