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Biofrontera acquires dermatology company Cutanea for $1

Biofrontera AG will acquire U.S.-based dermatology company Cutanea Life Sciences Inc., which markets an acne treatment and other products, for $1.

Germany's Biofrontera will acquire the company through a subsidiary from Japan's Maruho Co. Ltd., which holds a 20% stake in Biofrontera, according to a March 25 press release.

Besides the acne treatment Aktipak, Cutanea in November 2018 launched Xepi, a treatment for a bacterial skin infection called impetigo.

Maruho plans to provide up to $7.3 million in startup funds for the development of Biofrontera's drug candidates through the transaction. Profits from Aktipak and Xepi will later be split between Maruho and Biofrontera.