B8F.L Regulatory News (B8F)

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23 April 2015

Biofrontera AG

("Biofrontera" or the "Company")

Open Offer and Private Placement

Leverkusen, 23 April 2015 - Biofrontera AG (AIM/FSE: B8F), the biopharmaceutical company focusing on skin cancer, announces that it proposes, pursuant to existing authorities, to raise up to Euro 4.84 million (before expenses), by way an Open Offer and Private Placement pursuant to which 2,173,913 new no-par registered shares ("New Shares") will be offered to Qualifying Shareholders on the basis of 1 New Share for every 10 existing ordinary shares held, at a subscription price of EUR 2.30 ("Subscription Price") per New Share (the "Subscription Offer").

Shareholders on the Company's register at close of business on 4 May 2015 ("Qualifying Shareholders") will be able to subscribe for shares during the subscription period that will run from 5 May 2015 to and include 19 May 2015.

Qualifying Shareholders subscribing for their full entitlement under the Subscription Offer will also be able to request additional New Shares through an excess application facility. To the extent that pro-rata entitlements to New Shares are not subscribed for by Qualifying Shareholders, such shares will be available to satisfy such excess applications and allocations will be made according to the appropriate statutory rules. Excess applications will be scaled back such that funds raised from the Subscription Offer will not exceed Euro 4.843 million.

Any New Shares not acquired by subscription or over-subscription will be eligible to be placed in a private placement. The offer period for the private placement shall end no later than three trading days after the end of the subscription period.

Net proceeds of the Subscription Offer will be used by Biofrontera for general working capital purposes, including the approval for Ameluz® in the USA and the extension of the indication of Ameluz® to basal cell carcinoma in Europe.

Further details on the Subscription Offer will be published in the Federal Gazette in Germany, announced through RNS, and also available on the Company's website www.biofrontera.com on 27 April 2015.

Commenting, Professor Hermann Lübbert, Chief Executive Officer, said: "Biofrontera is extremely focused on achieving its two strategic goals for 2015 with the approval for Ameluz® in the USA and the extension of the indication of Ameluz® to basal cell carcinoma in Europe. We are confident of achieving these transformational milestones in 2016. The submission to the FDA is on schedule for Q2 2015 and once the approval has been issued, which is expected approximately 12 months after submission of the application, Biofrontera will have access to the largest healthcare market in the world."

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Background:

The Biofrontera Group (FSE/AIM: B8F, ISIN DE0006046113) is a biopharmaceutical company specialising in the development, sale and distribution of drugs and medical cosmetics for the care and treatment of skin diseases. Biofrontera's most important product is Ameluz®, a prescription drug which is approved in Europe for the treatment of mild and moderate actinic keratosis (superficial skin cancer) with photodynamic therapy (light therapy). Biofrontera is the first German pharmaceutical start-up company to obtain centralised approval for a drug it has developed itself. The company also plans for Ameluz® to be approved for basal cell carcinoma and is currently preparing for approval in other countries, especially in the largest pharmaceutical market in the world, the United States.

The company also markets the Belixos® dermatological range of cosmetics. Belixos® products contain combinations of active substances extracted from plants, relieve itching and redness and are used for the regenerative care of chronic skin conditions such as atopic dermatitis or psoriasis. At the moment, Belixos® cream, gel and scalp tonic are available through Amazon.

The Biofrontera Group was established in 1997 by Prof. Dr Hermann Lübbert, the Chairman of the company's Management Board, and has its headquarters in Leverkusen, Germany.

www.biofrontera.com

This communication expressly or implicitly contains certain forward-looking statements concerning the business activities of Biofrontera AG. These forward-looking statements reflect the opinion of Biofrontera at the time of this communication and involve certain known and unknown risks. The actual results achieved by Biofrontera may differ significantly from future results or performances which are published in its forward-looking statements. Biofrontera assumes no responsibility to update its forward-looking statements.