German drugmaker files $21.6M IPO for skin cancer drug
German biotech Biofrontera is looking to raise $21.6 million in a US IPO to fund development and marketing of its late-stage skin care drug.
The company is the maker of Ameluz (aminolaevulinic acid), approved by the FDA in combination with a medical device for the skin cancer precursor actinic keratosis. Now, Biofrontera aims to expand its label so it can be used in superficial basal cell carcinoma, a form of squamous cell carcinoma called Bowen’s disease, and larger treatment areas of actinic keratosis.
Biofrontera is in preparation for Phase III trials in all three indications.
The trials involve the use of a photodynamic therapy lamp Biofrontera developed to use with Ameluz. The process involves applying Ameluz to lesions and leaving it for several hours. The gel is then wiped away, and the treatment area is bathed in red light using the company’s lamp, called BF-RhodoLED.
With proceeds from this IPO, Biofrontera plans to grow its US sales and marketing infrastructure, and to fund clinical trials, according to a statement the company filed with the SEC.