LEVERKUSEN, Germany, Oct. 7 /PRNewswire/ -- Biofrontera AG today announced that it has acquired from ASAT AG, Zug, Switzerland all intellectual property, know-how and material related to a phase II compound for the treatment of various cancerous and precancerous skin lesions and some gynecological indications. The product applies aminolevulinic acid (ALA) in a patented nanocolloid formulation, ideally suited for photodynamic therapy (PDT). PDT is a novel and effective approach for the treatment of basal cell carcinomas and actinic keratosis.
With two dermatology products in advanced clinical development, both with an anticipated market introduction in 2007 or 2008, Biofrontera considers itself ideally positioned for building a specialty pharma business in the field of dermatology.
The novel nanocolloid formulation of ALA provides effective permeation of the compound specifically into the malignant tissue and enhances the formation of protoporphyrine in these cells, ultimately causing cell degeneration. Efficacy and safety of the new formulation have been investigated with positive results in pilot phase II and phase III studies. Biofrontera came to the conclusion that the new formulation has some clear advantages over similar existing therapies, allowing the application of much lower doses of the active substance at the same efficacy. Following successful completion of clinical development, the first entry to the market is expected in 2007. The transaction was coordinated and managed by InterPharmaLink AG, Basel, Switzerland.
Prof. Dr. Lubbert, CEO of Biofrontera AG, commented: "We are delighted to have acquired this extremely promising product in photodynamic therapy, a fairly novel treatment paradigm. The nanocolloid formulation of ALA ideally suits the dermatology focus of our leading products and combines the benefits of an already existing therapy with an innovative, in all likelihood superior formulation. Similar to our other dermatological clinical development compound, we consider the development risk of this product extremely low. This makes us very confident that we will be able to bring this new product to the market."
About Biofrontera AG
Biofrontera is aiming to become a specialty pharma business, initially in the field of dermatology, with internal research capacity to extend its drug pipeline. Major shareholders of Biofrontera include Heidelberg Innovation and the 3i group. DNAPrint genomics Inc., a genomics-based company based in Sarasota, FL, recently also agreed to acquire a significant stake in Biofrontera.
InterPharmaLink is a professional healthcare management consulting firm. The emphasis is on initiating and managing business transactions in the areas of late-stage development projects, in-market products and business development for the pharmaceutical industry.
CONTACT: Anke zur Muhlen, Corporate Communication, Biofronters AG,+011-49-0-214-87632-22, or +011-49-0-214-87632-90; or Richard Gabriel, CEO andPresident, DNAPrint(TM) genomics, Inc., +1-941-366-3400