Supervisory Board of Biofrontera AG renews Management Board appointment
Leverkusen, Germany, July 23, 2020 -- Biofrontera AG (NASDAQ: BFRA) announced the extension of CEO Prof. Dr. Hermann Lübbert and CFO Thomas Schaffer's service contracts for an additional two years, securing management continuity during a crucial phase for the company. The appointments aim to strengthen Biofrontera's journey towards becoming an independent, profitable specialty pharmaceutical entity. The new terms will last until December 31, 2022, with responsibilities within the Management Board remaining unchanged.
- Management continuity secured with the extension of CEO and CFO contracts.
- Strategic focus on developing Biofrontera into a profitable specialty pharmaceutical company.
- None.
Leverkusen, Germany, July 23, 2020 (GLOBE NEWSWIRE) -- The Supervisory Board of Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F), an international biopharmaceutical company, today announced that the appointments and service contracts of both members of the Management Board, CEO Prof. Dr. Hermann Lübbert and CFO Thomas Schaffer, have each been extended for an additional 2 year-term.
"We are looking forward to continuing the excellent and fruitful cooperation with the Biofrontera Management Board. The coming months are crucial for the further development of Biofrontera into an independent, profitable specialty pharma company. The Supervisory Board expressly appreciates continuity in the management of Biofrontera AG during this very important strategic and operational phase of the company. I am very pleased that in both cases this has been achieved," commented the Chairman of the Supervisory Board, Dr. Ulrich Granzer. "Over the next two years, the Supervisory Board, together with the Management Board, will successively implement succession planning which has already been jointly initiated".
The term of office and service contracts for both Prof. Dr. Hermann Lübbert and Thomas Schaffer will run until December 31, 2022.
The allocation of responsibilities within the Management Board remains unchanged.
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| For enquiries, please contact: Biofrontera AG Thomas Schaffer, Chief Financial Officer | +49 (0) 214 87 63 2 0 ir@biofrontera.com |
| IR UK: Seton Services Toni Vallen | +44 (0) 207 229 0805 |
About Biofrontera:
Biofrontera AG is a biopharmaceutical company specializing in the development and sale of dermatological drugs and medical cosmetics.
The Germany-based company, with almost 200 employees worldwide, develops and markets innovative products for the care, protection and treatment of the skin. The company’s lead product is the combination of Ameluz®, a topical prescription drug, and medical device BF-RhodoLED® for the photodynamic therapy of certain superficial skin cancers and their precursors. Ameluz® has been marketed in the EU since 2012 and in the United States since May 2016. In addition, the company markets the prescription medication Xepi™ for the treatment of impetigo in the United States. In the EU, the company also sells the dermocosmetics series Belixos®, which offers specialized care for damaged or diseased skin.
Biofrontera is the first German founder-led pharmaceutical company to receive a centralized European and a US approval for a drug developed in-house. The Biofrontera Group was founded in 1997 by the current CEO Prof. Dr. Hermann Lübbert and is listed on the Frankfurt Stock Exchange (Prime Standard) and on the US NASDAQ.www.biofrontera.com.
FAQ
What recent management changes occurred at Biofrontera AG (BFRA)?
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