McGuireWoods Team Advises International Biopharmaceutical Company Biofrontera AG on U.S. IPO

March 5, 2018

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 said.

“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,” Goldsamt observed.

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.