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Biofrontera Inc. announces sale of license to Xepi® Antibiotic Cream to Pelthos Therapeutics Inc. for up to $10M

  • Biofrontera Inc. divested its US license for Xepi® (ozenoxacin) Cream to Pelthos Therapeutics Inc.
  • The transaction generated $3 million at closing with $1 million due upon commercial product availability & up to $6 million in milestone payments.
  • Milestone payments of $3 million each are tied to achieving $10 million & $15 million in annual net revenues for Xepi® in the U.S., Puerto Rico & U.S. Virgin Islands.
  • Proceeds will support the growth of Biofrontera's photodynamic therapy platform & expansion of Ameluz® into additional indications.
  • CEO Dr. Hermann Luebbert stated the deal strengthens the balance sheet & is expected to fund the company to profitability.
  • Xepi® is an FDA-approved topical non-fluorinated quinolone for treating impetigo caused by Staphylococcus aureus or Streptococcus pyogenes.
  • No antibiotic resistance against Xepi® is currently known.
  • Biofrontera continues to focus on its PDT franchise including Ameluz® for actinic keratosis & clinical trials for non-melanoma skin cancers & severe acne.