8th Apr 2015 08:34
LONDON (Alliance News) - Biopharmaceutical company Biofrontera AG on Wednesday said it has completed an off-market block trade of shares.
Under the deal, the one million shares in the company owned by German financier Carsten Maschmeyer have been sold to institutional investors in Biofrontera. It did not provide any pricing details on the trade, which represents a 4.5% stake in the company.
"Biofrontera is in an important growth phase. Developments in 2015 will be core to our future success, in particular with the preparations for the market entry of Ameluz in the USA. In addition, we will progress the indication expansion for basal cell carcinoma in Europe as quickly as possible," said Biofrontera's Chief Executive, Hermann Lübbert.
"In this phase we are delighted by the confidence of investors taking up a block of shares on short notice, signalling their support for the company's strategy." said Lübbert.
Shares in the company were untraded Wednesday at 2.55 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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