Biofrontera provides update on Cutanea integration
Biofrontera AG - American Depositary Shares (BFRA)
US:NASDAQ Investor Relations:
biofrontera.com/en/investors/financial-reports.html
Company Research
Source: GlobeNewswire
Leverkusen, Germany, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (“Biofrontera” or the “Company”), an international biopharmaceutical company, provides an update on the integration progress of Cutanea Life Sciences, Inc. (“Cutanea”). On March 25, 2019, Biofrontera Inc. through its wholly owned subsidiary Biofrontera Newderm LLC, acquired 100% of the stock of Cutanea, a specialty pharmaceutical company focused on dermatology products, from Maruho Co., Ltd. (“Maruho”). At the time of the acquisition, Maruho had agreed to cover any restructuring expenses as well as all other expenses during the three-month integration period, which ended on June 25, 2019, as well as to indemnify Biofrontera and Cutanea from any liabilities relating to or arising from the period prior to the closing. During the three-month restructuring period, Biofrontera was able to seamlessly integrate Cutanea into its existing organization by leveraging synergies
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