Extraordinary General Meeting of Biofrontera AG: Biofrontera Management Board supported by large majority

Leverkusen, Germany, Dec. 20, 2019 (GLOBE NEWSWIRE) -- Biofrontera AG BFRA Frankfurt Stock Exchange: B8F))) (the "Company"), an international biopharmaceutical company, today announced the results of the Extraordinary General Meeting held on December 19, 2019. The shareholders present represented 63.71% of the registered share capital.

The resolutions proposed by the Deutsche-Balaton Group, at whose request the Extraordinary General Meeting was held, were rejected by the shareholder meeting with a large majority. Thus, the majority of the shareholders followed the recommendations of the management on all agenda items. Although the shareholders also voted with a clear majority for the additional resolution proposal of the management to establish authorized capital, the ¾-majority required by the German Stock Corporation Act was not achieved for this agenda item.

"The rejection of the proposed resolutions of the Deutsche Balaton-Group shows once again that our shareholders are fully supporting the management of Biofrontera. In particular, the shareholder meeting rejected the repeated motion for a vote of no confidence in the Management Board, thus confirming the confidence in us, as it did at the Annual General Meeting in July this year," says CEO Prof. Dr. Hermann Lübbert. "The Executive Management Board and all employees of Biofrontera are working every day - with the outstanding support of our Supervisory Board - to continue writing Biofrontera's success story. The support of our shareholders is the prerequisite without which we could not do our work. We would like to express our sincere thanks for this".

Further information on the Extraordinary General Meeting including the detailed voting results and the Management Board slide deck can be found at: https://www.biofrontera.com/en/annual-general-meeting.html

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About Biofrontera:

Biofrontera AG is a biopharmaceutical company specializing in the development and sale of dermatological drugs and medical cosmetics.

The Germany-based company, with almost 200 employees worldwide, develops and markets innovative products for the care, protection and treatment of the skin. The company's lead product is the combination of Ameluz^®, a topical prescription drug, and medical device BF-RhodoLED^® for the photodynamic therapy of certain superficial skin cancers and their precursors. Ameluz^® has been marketed in the EU since 2012 and in the United States since May 2016. In addition, the company markets the prescription medication Xepi™ for the treatment of impetigo in the United States. In the EU, the company also sells the dermocosmetics series Belixos^®, which offers specialized care for damaged or diseased skin.

Biofrontera is the first German founder-led pharmaceutical company to receive a centralized European and a US approval for a drug developed in-house. The Biofrontera Group was founded in 1997 by the current CEO Prof. Dr. Hermann Lübbert and is listed on the Frankfurt Stock Exchange (Prime Standard) and on the US NASDAQ.www.biofrontera.com.