DNAprint Genomics (DNAG)

[stakddek]

Biofrontera Awarded grant:

+++++++++++++++++++++

http://www.prnewswire.co.uk/cgi/news/release?id=117283

+++++++++++++++++++++

News Release
Wednesday 18 February 2004, 9:30 GMT Wednesday 18 February 2004
HEALTH
MEDICAL
BUSINESS
Biofrontera Pharmaceuticals Holding AG


Biofrontera Wins EUR 4 Mio Research Grant


LEVERKUSEN, Germany, February 18 /PRNewswire/ -- Biofrontera Pharmaceuticals GmbH, Leverkusen, today announced that it obtained funding by the state government of North Rhine-Westphalia. The company will receive 4 mio. EUR over the next 2 years. The research grant is aimed at supporting the discovery of innovative drug candidates for the treatment of chronic Pain and Parkinson's Disease. Biofrontera Pharmaceuticals GmbH is a wholly-owned subsidiary of Biofrontera AG, a neuroscience company based on natural compound discovery.

"This generous support confirms the quality of Biofrontera's outstanding pharmaceutical research platform. The funding helps us to advance research projects in our core-areas Pain and Parkinson" commented Prof. Hermann Lübbert, CEO of Biofrontera AG. "With its Technology and Innovation Program, the government of North Rhine-Westphalia made a clear commitment to the support of biotechnology."

"We have initiated the TIP Program to help technology companies during the time and cost intensive research period, which precedes product sales in such businesses," explained Harald Schartau, Minister for Economic Affairs in NRW. "We are pleased that a first-class company like Biofrontera AG has chosen NRW for its headquarters. We take pride in supporting research-intensive companies in their development."

Biofrontera has a unique natural compound collection and strength in natural compound modification, which it combines with proprietary molecular and in vivo pharmacology, to build a pipeline of novel CNS drugs. All technology modules are made available for contract research.

http://www.biofrontera.com

Distributed by PR Newswire on behalf of Biofrontera Pharmaceuticals Holding AG


--------------------------------------------------------------------------------
PR Newswire Europe Ltd.

209 - 215 Blackfriars Road, London, SE1 8NL
Tel : [phone]
Fax : [phone]
E-mail : [e-mail]

Copyright © 2005 PR Newswire Europe Limited. All rights reserved.
A United Business Media Company.
Terms and conditions of use apply.

Of course this is subject to comment by people who will complain about the amount, or the purpose, or the -- yada yada yada... but then it's better than getting nothing right?

Stakddek