Biofrontera publishes Q3 interim report
(Thomson Reuters ONE) -
Biofrontera AG /
Biofrontera publishes Q3 interim report
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Leverkusen, 19 November 2010 - Biofrontera AG (DSE: B8F) has announced that
today the 9-month interim report was published on the company's web page. The
report concentrates on the description that is required by the listing in the
German regulated stock market, without presenting detailed financial figures.
The most important development for Biofrontera in the last quarter was the drug
application for the product BF-200 ALA at the European Medical agency. The new
drug is in development for the treatment of actinic keratosis, a form of non-
melanoma skin cancer. The validation phase was passed successfully without any
time delay. Currently, the application is reviewed by the two rapporteurs that
the agency has selected. First feedback is expected within the next two months.
In addition to BF-200 ALA Biofrontera pushed ahead with the marketing of the
medical cosmetic Belixos(®). Belixos(®) cream is the initial component of a
medical cosmetic series with herbal actives that is supposed to generate a basic
cash flow for Biofrontera long-term. In Germany Belixos(®) cream is distributed
to pharmacies through wholesalers since September 2010 and is now available in a
large number of German pharmacies. Few days ago the distribution started
additionally in the Arabic countries of North Africa and Asia. Sales are still
low, as expected, since the introduction of a new medical cosmetic brand
requires a long-term effort before generating a regular revenue stream.
Nevertheless, sales were increasing by 24% in Q3 2010 compared to the same
period of the previous year. Because of the mostly completed clinical studies,
spending for research and development decreased by 32%. The loss of the first
nine months of the year amounted to TEUR 4,674. Biofrontera expects a clear
increase of the revenues after the approval of BF-200 ALA expected in H2 2011 or
related to milestone payments from license deals.
The filing of the approval dossier has created a widespread interest of other
pharma companies in licenses for the distribution of BF-200 ALA. In the past
weeks Biofrontera was frequently contacted by medium-size or large pharma
companies, including multi-national players, asking for the possibility to
obtain a license. The renowned US-institute Windhover has selected BF-200 ALA as
one of the TOP10 projects worldwide available for licensing. The presentation of
the project at the Windhover Therapeutic Area Partnerships Conference in Boston
triggered additional contacts to potential licensees. The choice of the most
competent marketing partners for different regions of the world is crucial for
optimizing the value generation from the project. Therefore, the signing of the
license deals will require a few more months.
The approval of the first innovative drug is a break-through for every biotech
company. Only few such companies worldwide have ever reached this point.
Therefore, the approval of BF-200 ALA expected in 2011 represents a milestone
for Biofrontera which finally turns from a pure research and development company
to a specialty pharma company.
About Biofrontera AG
Biofrontera AG is specialized in the development of pharmaceutical products in
the area of dermatology. The company is characterized by a broad, relatively
close to the market product portfolio. Biofrontera is listed in the regulated
market of the Düsseldorf stock exchange under the symbol B8F and the ISIN number
DE0006046113.
www.biofrontera.com
This press release contains forward-looking statements based on the currently
held beliefs and assumptions of the management of Biofrontera AG, which are
expressed in good faith and, in their opinion, reasonable. Forward-looking
statements involve known and unknown risks, uncertainties and other factors,
which may cause the assumptions expressed or implied in this press release to be
faulty. Given these risks, uncertainties and other factors, recipients of this
document are cautioned not to place undue reliance on the forward-looking
statements. Biofrontera AG disclaims any obligation to update these forward-
looking statements to reflect future events or developments.
For further information please contact:
Anke zur Mühlen
Corporate Communication
+ 49 (0) 214 87632 22
+ 49 (0) 214 87632 90
a.zurmuehlen(at)biofrontera.com
Biofrontera AG
Hemmelrather Weg 201
D- 51377 Leverkusen, Germany
[HUG#1464108]
--- End of Message ---
Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany
WKN: 604611;ISIN: DE0006046113;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München,
Regulierter Markt in Börse Düsseldorf;
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originality of the information contained therein.
Source: Biofrontera AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 19.11.2010 - 11:00 Uhr
Sprache: Deutsch
News-ID 48941
Anzahl Zeichen: 6008
contact information:
Town:
Leverkusen
Kategorie:
Business News
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