DNAprint Genomics (DNAG)

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A reminder:

"DNAPrint’s investment in Biofrontera is secured by a commitment from Dutchess Private Equities Fund to invest up to US $ 35 mln. in newly issued DNAPrint shares over the next two years. The funding will begin after the company registers the common stock that the company will issue in the transaction.

"Forming such a close alliance with a US company is a significant milestone for Biofrontera. It provides us with substantial resources we need to move our products ahead in clinical development, and to establish the key clinical milestones which will form the basis of the future value of Biofrontera”, commented Hermann Lübbert. “We are excited by the recent progress in developing our lead product BF-Derm1 for the treatment of severe chronic Urticaria, and the proceeds of this investment should enable us to bring this and other promising products to the market within the next three years.

Improving the patient selection by DNAPrint's unique technology will render Biofrontera’s clinical trials less costly and expedite the development of our drugs. We consider the ability to predict the individual patient's response to our drugs an extremely valuable addition to our effort in serving the patients' needs. Rapid success in drug development will move Biofrontera towards its goal of an initial public offering.”

Richard Gabriel, CEO and President of DNAPrint said: “We are extremely excited about the alliance between DNAPrint and Biofrontera, and we believe we have established a reliable and trustworthy source of capital for the development of both companies. Our goal for this financing, once it is completed through the registration process, is to build shareholder value beyond the inherent investment value that Biofrontera brings to the relationship. We hope to increase revenues of both companies by combining the distinct businesses and by offering services that address many of the problems in drug discovery and development.”

Ann