Biofrontera AG - shares for investment in kind agreement registered
Biofrontera AG /
Biofrontera AG - shares for investment in kind agreement registered
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The issuer is solely responsible for the content of this announcement.
Leverkusen, Germany - Biofrontera AG (hereafter called Biofrontera) had
announced on 15 June, 2011, that on this day she had signed an agreement with
ASAT Applied Science and Technology AG, Zug, Switzerland (hereafter called
"ASAT"), according to which a debt claim against Biofrontera Bioscience GmbH (a
wholly owned subsidiary of Biofrontera) was transferred to Biofrontera against
new Biofrontera shares.
In return to passing the debt claim of about € 2.094 mln. to Biofrontera, ASAT
was to receive 385,000 new Biofrontera name shares. In the meantime, a certified
appraisal was issued, upon which yesterday the capital increase was registered.
Biofrontera's equity capital now amounts to € 11,240,486.00, divided into
11,240,486 shares.
The herewith lapsed claims of ASAT stemmed from 2004, when Biofrontera purchased
know-how and patents related to her leading product BF-200 ALA, which is
currently in the European approval process. The debt transfer of € 2.094 mln. in
exchange for 385,000 shares relates to a calculative share price of € 5.44. ASAT
has agreed to a one-year lock-up period following the registration of the
shares.
Background
BF-200 ALA gel is a drug for the treatment of actinic keratosis. It is applied
in the relatively novel photodynamic therapy (PDT). This therapy is a one-time
treatment of actinic keratosis lesions with very high efficacy and excellent
cosmetic results, without the side-effects and discomfort of a long-term
treatment.
Actinic keratosis is a superficial skin cancer that is still restricted to the
upper skin layer (the epidermis). These tumors result from UV-light induced
lesions accumulating during the life time. They occur very frequently in sun-
exposed skin regions. In about 10-15% of the affected people the actinic
keratosis lesions develop into malignant, potentially fatal squamous cell
carcinomas.
About Biofrontera AG
Biofrontera aims at attending and treating the skin, recognizing the aesthetic
needs of a person's visual reflection.
Biofrontera is listed in the regulated market of the Düsseldorf stock exchange
under the symbol B8F and the ISIN number DE0006046113.
www.biofrontera.com
For further information please contact:
Werner Pehlemann
CFO
+ 49 (0) 214 87632 0
+ 49 (0) 214 87632 90
w.pehlemann@biofrontera.com
Biofrontera AG
Hemmelrather Weg 201
D- 51377 Leverkusen, Germany
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Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany
WKN: 604611;ISIN: DE0006046113;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München,
Regulierter Markt in Börse Düsseldorf;
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Source: Biofrontera AG via Thomson Reuters ONE
[HUG#1542498]
