Leverkusen, Germany, October 1, 2021 - Biofrontera AG currently holds a 100 % stake in the US-based subsidiary Biofrontera Inc.

On July 6, 2021, Biofrontera AG published an insider information pursuant to Article 17 MAR announcing that Biofrontera Inc. intends to raise capital by means of an initial public offering and a stock exchange listing in the United States ("IPO").

Within the scope of the IPO, up to 3,450,000 shares of Biofrontera Inc. are to be placed with US investors in a price range of USD 5.00 to USD 7.00 per share. The shares of Biofrontera Inc. to be offered in the IPO are to be issued from a capital increase. A sale of shares of Biofrontera Inc. by Biofrontera AG as part of the IPO is currently not intended. The shares of Biofrontera Inc. are to be listed on NASDAQ.

The management board of Biofrontera AG has resolved today, with the approval of the supervisory board, that it is in favor of Biofrontera Inc. performing the IPO.

A registration statement relating to the securities to be offered in the IPO by Biofrontera Inc. has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This public disclosure of inside information according to article 17 MAR shall not constitute an offer to sell or the solicitation of an offer to buy 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 registration or qualification under the securities laws of any such state or jurisdiction.

Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen

ISIN: DE0006046113

WKN: 604611

Contact:

Biofrontera AG

Tel: +49 (0214) 87 63 2 0, Fax: +49 (0214) 87 63 290

Email: ir@biofrontera.com

Forward-Looking Statements: Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the public offering and the intended use of proceeds from the offering.

These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate" and "intend," among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are set forth in the annual report on Form 20-F filed with the SEC, including Item 3.D. "Key Information - Risk Factors," and in future reports filed with the SEC. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.

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Biofrontera AG published this content on 01 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2021 14:21:02 UTC.