On November 2, 2021 Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) Biofrontera AG (ISIN: DE0006046113) has reported the closing of the successful IPO of its US subsidiary Biofrontera Inc. on Nasdaq (see also ad hoc announcement of November 2, 2021) (Press release, Biofrontera, NOV 2, 2021, View Source [SID1234594327]).

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The successfully completed IPO provides Biofrontera Inc. with the financial resources necessary to expand its marketing and sales activities. In addition, the listing on Nasdaq offers U.S. companies the opportunity to flexibly exploit market opportunities and respond rapidly to market risks.

Similar financing opportunities cannot be created by Biofrontera AG, which is restricted in many respects by the German capital market and corporate law regulations.

Professor Dr. Hermann Lübbert, founder and CEO of Biofrontera AG, commented: "The IPO and the associated access to one of the largest technology markets, together with the growth-oriented US corporate law, provides Biofrontera Inc. with the opportunity for further financing independently of Biofrontera AG. The high trading volumes already on the first two trading days indicate solid investor interest."

In the U.S., the current market share of Ameluz within the Photodynamic Therapy (PDT) sector is about 24%. Considering the still limited total market share of less than 2% for PDT in the treatment of actinic keratoses, our company’s declared goal is the exploitation of the growth potential through increased investments in marketing and sales. Furthermore, Biofrontera Inc. is strengthening the marketing of its second product Xepi, a topical antibiotic that is approved for the treatment of impetigo, a highly infectious bacterial skin infection, and effective even against antibiotic-resistant bacteria.

Biofrontera AG will directly benefit from the PDT sales growth of Biofrontera Inc. through a license and supply agreement. Under this agreement, Biofrontera Inc. acquires Ameluz and the PDT lamp BF-RhodoLED from Biofrontera AG. Up to annual Ameluz sales of USD 30 million, Biofrontera Inc. pays 50% of sales as a transfer price. This share decreases to 40% for sales from 30 to 50 Mio. USD and to 30% above 50 Mio. USD in sales, respectively, accounting for the associated higher sales costs.

Patents, drug approvals and all sales outside the USA, as well as future research results outside the further development of Ameluz will be exclusively owned by Biofrontera AG. Following the successful IPO of Biofrontera Inc., Biofrontera AG will be able to focus its financial resources on research and development and on marketing its products on the European and other international markets.

On November 2, 2021 CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory disease, reported that it will report its financial results for the third quarter ended September 30, 2021, after the market close on Tuesday, November 9, 2021, and will host a corporate update conference call at 4:30pm Eastern Time (Press release, CorMedix, NOV 2, 2021, View Source [SID1234594326]).

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On November 2, 2021 Bio-Techne Corporation (NASDAQ: TECH) reported inclusion in Inc.’s first annual Best-Led Companies list, an exciting 12-point measure of management excellence across the middle market — a select, data-driven list of the very strongest U.S. firms with revenue of $50 million to $2 billion (Press release, Bio-Techne, NOV 2, 2021, View Source [SID1234594239]). This novel program is the first Inc. recognition list to honor both public and private companies.

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The final list recognizes 250 companies that are agile enough to maneuver but also large enough to have a broad impact. These companies employ 35 million people, about one in four U.S. workers. All 250 have a successful track record with leadership teams that spur solid performance, create value, penetrate markets, engage with customers, and more.

To be considered for the list, each company had to fill out an application answering questions about its performance, executive team, and leadership. Applicants were then analyzed via an algorithm that identified the very best companies according to their leadership teams’ superlative accomplishments in four key areas: performance and value creation; market penetration and customer engagement; talent; and leadership team.

"We are honored to be recognized in Inc.’s inaugural list of Best-Led Companies," said Chuck Kummeth, Bio-Techne’s President and Chief Executive Officer. "This achievement reflects strong leadership at all levels of Bio-Techne. This leadership has been an integral part of our recent strong performance and positions the Company for continued growth going forward."

"This inaugural list of companies represents the remarkable midsized companies, both public and private, often founder-led, that are at the vanguard of reinventing American business," says Scott Omelianuk, editor-in-chief of Inc. magazine. "With their leadership, all business will benefit from an exciting, competitive future full of possibilities."

To compile the list, Inc. evaluated private and public U.S.-based companies with a 2020 revenue of $50 million to $2 billion or a valuation of $50 million to $10 billion using a proprietary 12-point measure of management excellence, generated with input from partners at Pitchbook and Shango Labs.

The November issue of Inc. magazine is available online now at View Source and will be on newsstands beginning November 9, 2021.

On November 2, 2021 Novo Nordisk reported that initiated a share repurchase programme in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the "Safe Harbour Rules") (Press release, Novo Nordisk, NOV 2, 2021, View Source [SID1234594203]). This programme is part of the overall share repurchase programme of up to DKK 18 billion to be executed during a 12-month period beginning 3 February 2021.

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Under the programme initiated 4 August 2021, Novo Nordisk has repurchased B shares for an amount up to DKK 3.3 billion in the period from 5 August 2021 to 1 November 2021. The programme is now concluded.

Since the announcement 25 October 2021, the following transactions have been made:

With the transactions stated above, Novo Nordisk owns a total of 22,633,347 B shares of DKK 0.20 as treasury shares, corresponding to 1.0% of the share capital. The total amount of A and B shares in the company is 2,310,000,000 including treasury shares.

Novo Nordisk expects to repurchase B shares for an amount up to DKK 18 billion during a 12- month period beginning 3 February 2021. As of 1 November 2021, Novo Nordisk has since 3 February 2021 repurchased a total of 23,826,181 B shares at an average share price of DKK 511.47 per B share equal to a transaction value of DKK 12,186,313,644.