 Leverkusen, Germany, Aug. 18, 2020 GLOBE NEWSWIRE -- In a press release dated July 27, 2020, Biofrontera AG shares of Biofrontera AG ISIN: DE0006046113 announced the issuance of up to 2,638,150 1.00 qualified subordinated mandatory convertible bonds 20202021 Bonds with pre-emptive subscription rights for shareholders. The subscription price was set at 100 of the nominal value, corresponding to EUR 3.00 per Bond. As already announced to the capital market at the end of the subscription period on August 13, 2020, it had become apparent that all of the Bonds would be placed. This was confirmed after the completion of the private placement, following which the offering was significantly oversubscribed. The gross proceeds from the capital measure amount to EUR 7.9 million. The capital market responded with great interest to the issuance of our convertible bond. We were able to attract new investors to Biofrontera during these challenging times. This and particularly the demand expressed by our existing shareholders underline the confidence of the capital market in Biofronteras strategy. We would like to express our sincere thanks for this, commented Hermann Lübbert, CEO of Biofrontera AG, on the successful completion of the capital measure.Overall, the capital measure was significantly oversubscribed. The allocation was made in accordance with the criteria published in the subscription offer. Investors from the DACH region subscribed to the Bonds in the private placement, in which Quirin Privatbank AG acted as sole bookrunner.-END-For enquiries, please contact: Biofrontera AG Thomas Schaffer, Chief Financial Officer 49 0 214 87 63 2 0 R UK: Seton Services Toni Vallen 44 0 207 229 0805 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 companys 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 XepiTM 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. 