News release

Biofrontera also rejects the modified tender offer of Deutsche Balaton Biotech AG

Leverkusen, Germany, July 30, 2018 – Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F), an international biopharmaceutical company, today published a joint opinion of management and supervisory board of Biofrontera AG on the adjustment of the tender offer of Deutsche Balaton Biotech AG, Frankfurt am Main, announced on 20 July 2018, to shareholders of Biofrontera AG. The statement can be viewed on the company’s website at http://www.biofrontera.com on the “Investors” tab under “Acquisition Offer of Deutsche Balaton Biotech AG” https://www.biofrontera.com/de/Erwerbsangebot.html.

Employees of Biofrontera AG, Biofrontera Pharma GmbH and Biofrontera Bioscience GmbH have also responded to the modified acquisition offer by Deutsche Balaton Biotech AG pursuant to § 27 para. 2 WpÜG (German Securities Takeover Act), and drafted a separate statement, which is also available at the above-mentioned website. Again, the statement is supported by 100% of the employees.

The Management Board and the Supervisory Board in their joint opinion as well as the employees in their own statement once more recommend to not accept the adjusted offer.

In addition, a non-binding English translation of the joint opinion was published at https://www.biofrontera.com/en/Tender_Offer.html.

Copies of the statements are available at Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen, Germany, Tel. +49 (0)214-87632-0 (order by fax to +49(0)214-87632-90 or by e-mail to ir@biofrontera.com).

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For enquiries, please contact:
Biofrontera AG	+49 (0) 214 87 63 2 0
Thomas Schaffer, Chief Financial Officer	ir@biofrontera.com
IR UK: Seton Services
Toni Vallen	+44 (0) 207 224 8468
IR and PR US: The Ruth Group
IR: Tram Bui	+1 646-536-7035
PR: Kirsten Thomas	+1 508-280-6592

About Biofrontera:

Biofrontera AG is an international biopharmaceutical company specializing in the development and commercialization of a platform of pharmaceutical products for the treatment of dermatological conditions and diseases caused primarily by exposure to sunlight that results in sun damage to the skin. Biofrontera’s approved products focus on the treatment in the U.S. and Europe of actinic keratoses, which are skin lesions that can sometimes lead to skin cancer, as well as the treatment of certain forms of basal cell carcinoma in the European Union. American Depositary Shares representing Biofrontera’s ordinary shares are listed on the NASDAQ Capital Market under the symbol “BFRA”, and Biofrontera’s ordinary shares are listed in the Frankfurt Stock Exchange (B8F, ISIN: DE0006046113). Information is also available at www.biofrontera.com.

Forward Looking Statements:

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the public offering and the intended use of proceeds from the offering. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate” and “intend,” among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are set forth in the Registration Statement on Form F-1 filed with the SEC, including in the section “Risk Factors,” and in future reports filed with the SEC. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.

Biofrontera AG

Hemmelrather Weg 201 | D-51377 Leverkusen, Germany

Phone: +49 214 87632-0 | Telefax: +49 214 87632-90

info@biofrontera.com | www.biofrontera.com

Supervisory board: Dr. Ulrich Granzer (Chairman) | Jürgen Baumann (Vice-Chairman)

Executive board: Prof. Dr. rer. nat. Hermann Lübbert (CEO)

Christoph Dünwald (CCO) | Thomas Schaffer (CFO)

Commercial register: Handelsregister Köln | Register number: HR B 49717 (AG)

VAT-identification number according to § 27 a UStG VAT act: DE 812374102

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