(Note: Immediately after this offering, Biofrontera AG, our parent company and sole existing stockholder immediately prior to this offering, will own about 72.7% of our outstanding shares of common stock.)

We are a U.S.-based biopharmaceutical company specializing in the commercialization of pharmaceutical products for the treatment of dermatological conditions, in particular, diseases caused primarily by exposure to sunlight that result in sun damage to the skin. Our licensed products focus on the treatment of actinic keratoses, which are skin lesions that can sometimes lead to skin cancer. We also market a topical antibiotic for treatment of impetigo, a bacterial skin infection.

Our principal licensed product is Ameluz^®, a prescription drug approved for use in combination with our licensor’s medical device, which has been approved by the U.S. Food and Drug Administration (the “FDA”), the BF-RhodoLED^® lamp, for photodynamic therapy, or PDT (when used together, “Ameluz^® PDT”) in the United States to treat actinic keratosis of mild-to-moderate severity on the face and scalp. 

Our second prescription drug licensed product is Xepi^® (ozenoxacin cream, 1%), a topical non-fluorinated quinolone that inhibits bacterial growth. Currently, no antibiotic resistance against Xepi^® is known and it has been specifically approved by the FDA to treat impetigo, a common skin infection, due to Staphylococcus aureus or streptococcus pyogenes. It is approved for use in adults and children 2 months and older. 

(Note: Biofrontera priced its unit IPO on Oct. 28, 2021, at $5 – the low end of its recently reduced range of $5 to $7 – and increased the number of units to 3.6 million, up from 3.1 million in the prospectus, to raise $18 million. Biofrontera had revamped its IPO to a unit offering from an offering of only shares of common stock in an S-1/A filing dated Oct. 26, 2021: 3.1 million units at a price range of $5 to $7. Previously the deal consisted of 3 million shares at a price range of $5 to $7 each. Under the new terms: Each unit will consist of one share of common stock and one warrant to buy one share of common stock. The stock will trade under the proposed symbol “BFRI” and the warrants will trade under the proposed symbol “BFRIW” on the NASDAQ. The timing of this deal’s pricing has been pending over the past few weeks in October.)