Biofrontera, a spinoff of Biofrontera AG's commercialized dermatology portfolio, filed on Tuesday with the SEC to raise up to $25 million in an initial public offering.
Biofrontera markets Ameluz, a prescription drug approved for use in combination with Biofrontera AG's BF-RhodoLED lamp for the lesion-directed and field-directed treatment of actinic keratosis of mild-to-moderate severity on the face and scalp. The company also markets Xepi, a topical non fluorinated quinolone that inhibits bacterial growth and is approved by the FDA to treat impetigo, a common skin infection.
The Woburn, MA-based company was founded in 2015 and booked $19 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol BFRI. The Benchmark Company is the sole bookrunner on the deal. No pricing terms were disclosed.
