Biofrontera AG: Biofrontera AG announces results of the capital increase resolved on May 28, 2020 - Gross proceeds of EUR 24.7 million

Leverkusen (pta002/24.02.2021/00:50 UTC+1) Leverkusen, February 24, 2021 - On May 28, 2020, the annual general meeting of Biofrontera AG (hereinafter referred to as the "Company") resolved to increase the share capital of the Company by up to EUR 8,969,870 by issuing up to 8,969,870 new no-par value registered shares with a notional interest in the share capital of EUR 1.00 each ("New Shares") against cash contributions. The Management Board, with the approval of the Supervisory Board, was authorized by the shareholders' meeting, to determine the further details of the capital increase and its execution, in particular the further conditions for the issue of the New Shares. With regard to the further details of the completion of the capital increase, reference is made to the Company's publications dated February 4 and 18, 2021, as well as to the Company's publications in the Federal Gazette (Bundesanzeiger) dated February 5 and 18, 2021.

According to the assessment, a total of 8,969,870 New Shares were subscribed at a subscription price of EUR 2.75 each. Gross proceeds amount to EUR 24.7 million.

The Management Board

Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen
ISIN: DE0006046113
WKN: 604611

Contact:
Biofrontera AG
Tel: +49 (0214) 87 63 2 0, Fax: +49 (0214) 87 63 290
Email: ir@biofrontera.com

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Emitter:	Biofrontera AG Hemmelrather Weg 201 51377 Leverkusen Germany
Contact Person:	Investor Relations
Phone:	+49 (0) 214 87 63 20
E-Mail:	ir@biofrontera.com
Website:	www.biofrontera.com
ISIN(s):	DE0006046113 (Share)
Stock Exchange(s):	Regulated Market in Dusseldorf, Frankfurt; Free Market in Berlin, Munich, Stuttgart, Tradegate
Other Stock Exchanges:	Nasdaq