Biofrontera raised 3 Million Euro in capital round

02-Jun-2009 - Germany

Biofrontera AG announced that the company has received 3,000,150 Euro after placing 2,000,100 new shares at a share price of 1.50 Euro. An extraordinary shareholder meeting had authorized the ordinary capital increase. The company granted a purchase option to existing shareholders and placed the remaining shares with institutional investors. The share issue increased Biofrontera's base capital to 5,736,628 Euro.

"For successful progression of the clinical trials with our product candidates the fresh capital is utterly important. With the current constraints of the capital markets money raising is extremely difficult for technology companies. We are very happy about the successful completion of this capital round, illustrating the trust of our old and new shareholders in the company", stated Prof. Dr. Hermann Lübbert, CEO of Biofrontera AG.

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