McGuireWoods advised Biofrontera AG, an international biopharmaceutical
company with corporate headquarters in Leverkusen, Germany, in its U.S. initial
public offering of American Depositary Shares (ADSs), which began trading on The
NASDAQ Capital Market under the symbol “BFRA” on Feb. 14. Partners Seth Goldsamt
and Stephen Older led the McGuireWoods Biofrontera team, which included fellow
partners Rakesh Gopalan and Kate W. Hardey and associates Tristan Freeman and
Barlow Mann*. McGuireWoods lawyers were on hand as Biofrontera’s founder and CEO
Dr. Hermann Lübbert rang the closing bell on Feb. 15, celebrating Biofrontera’s
listing on the exchange.
Biofrontera specializes in the development and commercialization of a
platform of pharmaceutical products for the treatment of dermatological
conditions and diseases caused primarily by exposure to sunlight that results in
sun damage to the skin. Biofrontera’s approved products focus on the treatment
in the U.S. and Europe of actinic keratoses, which are skin lesions that can
sometimes lead to skin cancer, as well as the treatment of certain forms of
basal cell carcinoma in the European Union.
“We are proud of Biofrontera’s milestone achievement and to have represented
it in this significant international capital markets transaction,” Goldsamt
“We value our relationship with Biofrontera, and look forward to much success
as it brings its products to the U.S. market,” Older added.
Biofrontera is part of a boom that has seen approximately a half-dozen
biotech IPOs on NASDAQ in early 2018.
“We believe the biotech equities markets in the U.S. will continue to thrive
this year, in particular, as increasing numbers of non-U.S.-based life sciences
companies explore commercial and financing opportunities in the United States,”
McGuireWoods’ capital markets team has earned global recognition in
authoritative league tables for advising corporate issuers and underwriters in
complex corporate and securities matters, repeatedly ranking among the top 20
law firms in multiple categories for debt and equity issuances.
*Licensed to practice law in New York, but not in North Carolina where his
resident office is located.