REG - Biofrontera AG - Update Re: Biosynth AG <Origin Href="QuoteRef">B8FGn.DE</Origin>

Biofrontera AGAnnouncement

29/10/2014 08:02

RNS Number : 7755Q
Biofrontera AG
03 September 2014
Ad-hoc Release pursuant to Section15 of the German Securities Trading Act (Wertpapierhandelsgesetz)
Biofrontera AG and BiosynthAG settle legal issues amicably
Leverkusen, 03 September 2014 - The management board of Biofrontera AG had announced in an ad hoc release on 20 August 2014 that it had applied for negative declaratory relief against a former supplier of Biofrontera group, Biosynth AG (Biosynth), Staat, Switzerland. 
Meanwhile, after discussions between the parties, the issues were settled in an out-of-court agreement. Biosynth has claimed that the requirements of the European Medicines Agency (EMA) referred to in the ad-hoc release dated August 20, 2014 had been formally addressed to Biofrontera group as applicant and not to Biosynth. The requirements EMA made in the context of the approval of Ameluz were not processed by Biosynth after the termination of the cooperation with Biofrontera group in February 2014. 
In the opinion of Biosynth, the GMP requirements of the EMA concern the active substance 5-aminolevulinic acid hydrochloride (ALA) produced by Biosynth only insofar as it is used in Ameluz, the drug of Biofrontera group, since Biosynth holds a GMP certificate of Swissmedic as the competent Swiss authority, which is valid in the EU in accordance with the agreements between the EU and Switzerland. As part of the settlement, Biofrontera group and Biosynth have waived all mutual claims. No mutual financial obligations, neither for Biofrontera group nor for Biosynth, arise out of the settlement. The past business relationship was terminated consensually. As a result, Biofrontera will withdraw the action for negative declaratory relief filed against Biosynth without undue delay.
ends.
Enquiries
Biofrontera AG 
Prof. Hermann Lbbert, Chief Executive Officer
Thomas Schaffer , Chief Financial Officer
Anke zur Mhlen, Corporate Communications
+49 (0) 214 87 63 2 0
press@biofrontera.com
www.biofrontera.com
Brainwell Asset Solutions
Jrgen Benker
+49 (0) 152 08931514
finnCap (Nomad and Broker)
Geoff Nash / Christopher Raggett (Corporate Finance)
Steven Norcross(Corporate Broking)
+44(0) 20 7220 0500
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Toni Vallen
+44 (0) 20 7603 6797
Gable Communications 
John Bick
+44 (0) 20 7193 7463
+44 (0) 7872 061007
Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen
ISIN: DE0006046113
WKN: 604611

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