BFRI - InvestorNewsBreaks - Biofrontera Inc. (NASDAQ: BFRI) Closes on Private Placement Valued at Up to $16M
Biofrontera (NASDAQ: BFRI), a biopharmaceutical company specializing in the commercialization of dermatologic products, has closed on a securities purchase agreement. According to the announcement, the agreement is with healthcare-focused institutional investors led by Rosalind Advisors. The financing is for an initial $8 million with an additional $8 million second tranche, dependent on the company reaching specified milestones. The company noted that the funding, along with recent restructuring of a supply agreement, allow it to conduct planned research and development activities as well as support further commercial growth. “The company intends to use the upfront net proceeds from the private placement to fund the company's general business operations and ongoing activities related to expediting the development and approval of additional indications for the company's lead product Ameluz,” said Biofrontera in the press release. “The product is currently approved in conjunction with the BF-RhodoLED lamp series for the treatment of mild to moderate actinic keratosis on the face and scalp (‘AK’).”
To view the full press release, visit https://ibn.fm/vOPPD
About Biofrontera Inc.
Biofrontera is a U.S.-based biopharmaceutical company commercializing a portfolio of products for the treatment of dermatologic conditions with a focus on photodynamic therapy (“PDT”) and topical antibiotics. The company's licensed products are used for the treatment of actinic keratoses, which are precancerous skin lesions, as well as impetigo, a bacterial skin infection. For more information about the company, please visit www.Biofrontera-us.com.
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