Biofrontera AG: Biofrontera announces agreement with Galenica AB for the promotion and distribution of Ovixan® in the United Kingdom

Leverkusen (pta011/16.10.2024/11:05) - Leverkusen, 15/10/2024 – Biofrontera Pharma GmbH has entered into an agreement with Galenica AB, a well-established Swedish pharmaceutical company, to exclusively promote and distribute their branded product Ovixan® (mometasone) in the UK by Biofrontera's specialized sales team. Ovixan® is an improved topical formulation of the leading corticosteroid mometasone for the treatment of inflammatory manifestations of atopic dermatitis and psoriasis, skin diseases that affect more than two million people in the United Kingdom.

Galenica will be responsible for registration of the product towards the UK authorities; after successful registration the marketing authorization will be transferred to Biofrontera that intends to start the commercialization by the end of 2025.

This is the second agreement signed during 2024 aiming to increase Biofrontera's portfolio, underlining its commitment as a leading company in dermatology to expand its business in the European market.

Pilar de la Huerta, Managing Director of Biofrontera Pharma GmbH and CFO of Biofrontera AG, comments, "I'm pleased to announce a new deal towards the expansion of our portfolio in the European space. Galenica was already our partner to market Ameluz® in the Nordic countries. With this agreement we build on our relationship, highlighting our mutual confidence in our qualified capabilities in Dermatology. We strongly believe in Ovixan®'s potential in the UK market as an enhanced formulation that addresses patients' needs to treat symptoms of psoriasis and atopic dermatitis. With this new product, we have a good opportunity to increase our presence and revenues in the UK, aiming to consolidate our capacities in this market."

Furthermore, she mentions that "two agreements in 2024 are an excellent outcome that shows the huge potential of our new strategy to expand our portfolio and business and become a relevant player in the European dermatological environment."

Galenica AB's CEO and founder, Ronnie Wallin, adds, "We are pleased to have been able to enter into this partnership with our already longstanding partner Biofrontera. Our proprietary product Ovixan® has been successfully launched into other major European markets, and we are looking forward now to bring it to patients in the United Kingdom through the Biofrontera team that has already a well-established network in Dermatology and a track record of successfully launching products in that space."

About Biofrontera AG: Biofrontera AG is a holding company listed in the German stock exchange market, focusing on the development and commercialization of treatments targeting skin diseases. Their key product is Ameluz® for Photodynamic therapy to treat actinic keratosis and some other forms of keratinocyte cancer.

About Galenica AB: Galenica is a Swedish privately owned pharmaceutical company, authorized and audited by the Swedish Medical Product Agency. Galenica's activities are divided into two business units: Contract Development Manufacturing Organization (CDMO) and Development and launching of own branded pharmaceutical products focused on the derma space.

This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Biofrontera AG. Known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation or development of the company and the estimates given here.

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