McGuireWoods Advises Biofrontera Inc. in Multimillion-Dollar IPO and Subsequent Private Placement

Proceeds to Help Company Expand U.S. Presence

December 6, 2021

McGuireWoods advised Biofrontera Inc., the U.S. subsidiary of international biopharmaceutical company Biofrontera AG, in its initial public offering that closed Nov. 2, 2021, and a $15 million private placement in public equity (PIPE) offering that closed Dec. 1, 2021.

Biofrontera specializes in commercialization of pharmaceutical products that treat dermatological conditions and diseases caused primarily by sun damage to the skin. Proceeds from the two transactions will enable the company to achieve its near-term business goals, including expanding its commercial position across the United States.

New York partner Stephen Older and Charlotte associate Andrew Terjesen led the McGuireWoods deal team, which included partner Seth Goldsamt and associate Samar Khan in New York, Charlotte counsel David Wolpa, Charlotte healthcare partner Kate Hardey and Chicago healthcare associate Royce Dubiner.

McGuireWoods has served as go-to U.S. counsel for Biofrontera AG for the past six years. Firm lawyers represented the company in its 2018 U.S. initial public offering of American depositary shares and several other securities offerings, as well as the acquisition of dermatology company Cutanea Life Sciences Inc. The firm also has advised Biofrontera AG on U.S. securities law and regulatory issues and various litigation matters.

“We value our longstanding relationship with Biofrontera and were proud to assist the company in closing these significant transactions, which demonstrate the capabilities of our securities practice,” Older said.

McGuireWoods consistently ranks among the leading law firms for advising corporate issuers and underwriters in U.S. capital markets transactions and has earned global recognition for its work representing clients in corporate and securities matters.