Biofrontera cuts Ameluz transfer price to 25%, raises up to $16M in private placement

Biofrontera Inc.

Transfer price reduced from 50% to 25% for 2024-2025; stepwise increases to max 35% from 2032; minimum dollar amount per unit.
Company to assume control of all US clinical trials for Ameluz by June 1, 2024, improving cost management and oversight.
Private placement led by Rosalind Advisors: $8M from Series B-1 Preferred, plus $8M warrants tied to milestones; up to $16M gross.
Conversion price set at $0.7074 per share; Series B-3 conversion requires shareholder approval to increase authorized shares.
Net proceeds to fund general operations and accelerate development of additional Ameluz indications (BCC, SCC, acne).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Biofrontera Inc. entered into Second Amended and Restated License and Supply Agreement with Biofrontera Pharma GmbH, Biofrontera Bioscience GmbH valued at Transfer price changed to 25% through 2025 then increasing up to 35% starting in 2032 (effective 2024-02-13).

Action: entry
Agreement: license
Counterparty: Biofrontera Pharma GmbH, Biofrontera Bioscience GmbH
Value: Transfer price changed to 25% through 2025 then increasing up to 35% starting in 2032
Effective: 2024-02-13

Exact text from the filing

On February 19, 2024, Biofrontera Inc. (the “ Company ”) entered into the Second Amended and Restated License and Supply Agreement (the “ LSA ”), effective as of February 13, 2024 , 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 0001493152-24-007143

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