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20 Apr 2015 07:00
Biofrontera establishes subsidiary in the US
· Preparing for scheduled market entry in 2016
· Monica Tamborini appointed CEO of Biofrontera's US operations
Leverkusen, 20 April 2015 - Biofrontera AG (AIM/FSE: B8F), the biopharmaceutical company focusing on skin cancer, has formed a wholly-owned US subsidiary, Biofrontera Inc., registered in Wilmington, Delaware. This company is intended to lay the ground for marketing and sales activities upon the expected FDA approval for the products Ameluz® and BF-RhodoLED® in 2016.
Monica Tamborini has been appointed CEO of Biofrontera's US operations. Monica has over 20 years' experience managing US companies in the healthcare sector. After earning master's degrees in economics and business administration with summa cum laude from Boston University und Suffolk University, and receiving the "Delta Alpha PI Society Award", Monica worked in various sectors before joining the pharmaceutical industry. Since then, Monica has held various positions as CFO and COO. In addition to her expertise in finance Monica has, as Managing Director of Calix Consulting, in recent years concentrated on the communication with the Food and Drug Administration (FDA) and the development of quality management systems, which are mandatory for pharmaceutical and medical device businesses.
Commenting, CEO of Biofrontera, Prof. Dr. Hermann Lübbert, said: "We are very happy that we will be able to rely on Monica's broad expertise when establishing the infrastructure for the distribution of our products in the US.
"An efficient infrastructure, supported by a perfectly well-attuned quality management system, is the foundation of every pharmaceutical company's success. Monica Tamborini's professional background makes her the perfect choice for the development and management of our US business. Since we are expecting FDA approval for our products by the summer of 2016, it is extremely important to start preparing now for the distribution of our products. Monica will initially conduct further market analyses on which the decision will be based whether the cooperation with another distribution partner will be required."
Ends
Enquiries, please contact:
Biofrontera AG Prof. Hermann Lübbert, Chief Executive Officer Thomas Schaffer, Chief Financial Officer | +49 (0) 214 87 63 2 0 press@biofrontera.com www.biofrontera.com |
IR Germany: Brainwell Asset Solutions Jürgen Benker | +49 (0) 152 08931514 |
Nomad and Broker: Shore Capital Bidhi Bhoma / Toby Gibbs | +44(0) 20 7408 4090 |
IR UK: Seton Services Toni Vallen | +44(0) 20 7603 6797 |
Financial PR: Gable Communications John Bick | +44(0) 20 7193 7463 +44 (0)7872 061007 |
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.
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