Biofrontera enters payment addendum with affiliates; schedules ~$7.5M in payments through April 2024

Biofrontera Inc.

INC to pay Pharma $2.791M by Dec 20, 2023, reduced by ~$137K owed by Bioscience.
By Jan 31, 2024, INC owes Pharma ~$1.4-1.6M (DARM00429 remainder) and ~$2.9M under PO#11440.
By Jan 31, 2024, INC must pay AG invoice AR01207 and Bioscience invoices TAR01584 and TAR01593.
By Apr 30, 2024, INC pays 2023 purchase price variance and invoices for POs #11272, #11305, #11154.
Failure to timely pay Licensed Products constitutes material breach, triggering termination without cure period.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Biofrontera Inc. entered into Addendum to Amended and Restated License and Supply Agreement with Biofronter Pharma GmbH, Biofrontera Bioscience GmbH, and Biofrontera AG valued at Schedule of payments for purchase of Licensed Products through end of 2024 (effective 2023-12-12).

Action: entry
Agreement: license
Counterparty: Biofronter Pharma GmbH, Biofrontera Bioscience GmbH, and Biofrontera AG
Value: Schedule of payments for purchase of Licensed Products through end of 2024
Effective: 2023-12-12

Exact text from the filing

On December 12, 2023, Biofrontera Inc. (the “ Company ”) entered into an addendum (the “ Addendum ”) to its Amended and Restated License and Supply Agreement, dated as of June 16, 2021 (as amended on October 8, 2021, the “LSA”), by and among the Company, Biofrontera Pharma GmbH (“Pharma”), and Biofrontera Bioscience GmbH (“Bioscience”).

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Biofrontera Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-045074

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