Biofrontera AG’s $12 million American depositary shares (ADSs) Initial Public Offering


Schiff Hardin advised The Benchmark Company as managing underwriter in the transaction

The shareholders of the dermatology-focused biotechnology company have pre-emptive rights under German law and Biofrontera’s shares already traded on the Frankfurt Stock Exchange, making this a very complex transaction. The transaction involved side-by-side U.S. and German pre-emptive rights offerings.

Biofrontera AG operates as a biopharmaceutical company. The Company, led by Hermann Luebbert, Thomas Schaffer and Christoph Duenwald, develops, sales, and distributes dermatological drugs and medical cosmetics.

Schiff Hardin advised The Benchmark Company with a team including Ralph V. De Martino (Picture), F. Alec Orudjev and Cavas S. Pavri.

Involved fees earner: Cavas Pavri – Schiff Hardin LLP; Alec Orudjev – Schiff Hardin LLP; Ralph De Martino – Schiff Hardin LLP;

Law Firms: Schiff Hardin LLP;

Clients: The Benchmark Company;

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Author: Ambrogio Visconti