HEUKING advises Biofrontera on doubling share capital with share issue
November, 2024 - Cologne, Germany
A HEUKING team led by Cologne-based Partner Dr. Thorsten Kuthe legally advised Biofrontera AG on a significant capital increase. The issuance of 3,038,431 new ordinary shares raised gross proceeds of about EUR 3.3 million, effectively doubling the company’s share capital. The capital increase was resolved at an extraordinary general meeting held on April 4, 2024.
As a result of the successful transaction, the major shareholder, Deutsche Balaton group, increased its stake to 61.2%.
Biofrontera AG, headquartered in Leverkusen, is a biopharmaceutical company specializing in the development and commercialization of dermatological drugs and medical cosmetics. The company’s flagship product, Ameluz®, is a prescription medication for treating actinic keratosis and certain types of skin cancer. Since its launch in 2012 in the EU and 2016 in the U.S., Ameluz® has received both centralized European and U.S. approval – a rare achievement for a German-developed drug. Established in 1997, Biofrontera AG is listed on Frankfurt Stock Exchange (Prime Standard).
Counsel to Biofrontera AG
HEUKING:
Dr. Thorsten Kuthe (Lead),
Stefan Westerheide, LL.M. oec,
Madeleine Zipperle,
Meike Dresler-Lenz (all Capital Markets), all Cologne
