Oxymetazoline Hydrochloride

Lender to Provide Incremental Liquidity to Support Long-Term Growth Senior Secured Lender to Exchange Outstanding Debt into Equity of the Reorganized Entities Business Operations at U.S. Subsidiaries to Continue as They Pursue Strategic Plan RVLP Ordinary Shares Expected to be Cancelled RVL Pharmaceuticals plc (“RVL” or “the Company”), a specialty pharmaceutical company focused on the commercialization of UPNEEQ® (oxymetazoline hydrochloride ophthalmic solution), 0.1%, for the treatment of acquired blepharoptosis, or droopy eyelid, in adults, today announced that certain of its U.S. operating subsidiaries, RevitaLid Pharmaceutical Corp., RVL Pharmaceuticals, Inc. and RVL Pharmacy, LLC (the “RVL Subsidiaries”), have reached an agreement with their sole secured lenders, funds managed by Athyrium Capital Management (“Athyrium”), and other key stakeholders, to effectuate a change of control transaction through prepackaged bankruptcy cases commenced in the United States Bankruptcy Court for the District of Delaware today (the “Reorganization”). The Reorganization provides a structured pathway for the RVL Subsidiaries to significantly reduce their debt, while enabling them to streamline operations, maintain jobs and position themselves under new ownership. As a result of the Reorganization, RVL is expected to commence the wind-down of any remaining operations of the Company and its subsidiaries, other than the RVL Subsidiaries. RVL’s public equity is expected to be cancelled upon completion of its wind-down, anticipated to be during 2024, likely resulting in no recovery to public shareholders. Under the Reorganization, funds managed by Athyrium will exchange their outstanding debt into equity of a newly formed entity that will either (1) directly hold 100% of the equity interests of Revitalid Pharmaceutical, Corp., which is currently an indirect wholly owned subsidiary of the Company, or (2) indirectly hold 100% of the equity interests of RVL Pharmaceuticals, Inc., which is currently a wholly owned subsidiary of Revitalid Pharmaceutical, Corp. and the direct parent of RVL Pharmacy, LLC. In addition, funds managed by Athyrium are committed to providing incremental financing facilities to support the RVL Subsidiaries’ operations during the Reorganization and to support their long-term growth and liquidity. The Reorganization will enhance the RVL Subsidiaries’ ability to invest in UPNEEQ, accelerate their strategic initiatives, and allow for the continued delivery of high-quality, innovative ocular and aesthetic solutions for patients and healthcare partners. The Reorganization contemplates that all of RVL Subsidiaries’ vendors, suppliers, and customers will be unaffected by the Reorganization, and their employees will remain employed by these entities. Brian Markison, Chief Executive Officer and Chairman of the Company’s Board of Directors, commented, “This is a significant step forward in securing RVL’s future, ensuring we continue to meet the demands of our patients while also executing our long-term growth strategy. As we move forward, we remain committed to realizing the full commercial potential of UPNEEQ.” The RVL Subsidiaries are being advised by Ropes & Gray LLP, Richards, Layton & Finger, P.A., and A&L Goodbody LLP as legal counsel, Ernst & Young LLP as financial advisor, and Ducera Partners LLC as investment banker. About the Company RVL Pharmaceuticals plc is a specialty pharmaceutical company focused on the commercialization of UPNEEQ® (oxymetazoline hydrochloride ophthalmic solution), 0.1%, for the treatment of acquired blepharoptosis, or low-lying eyelid, in adults. UPNEEQ is the first non-surgical treatment option approved by the FDA for acquired blepharoptosis. The content above comes from the network. if any infringement, please contact us to modify.

WOBURN, MA / ACCESSWIRE / August 29, 2023 / Biofrontera Inc. (NASDAQ:BFRI) ("Biofrontera" or the "Company"), a biopharmaceutical company specializing in the commercialization of dermatologic products, announced today the appointment of Samantha (Sam) Widdicombe to the newly created position of Senior Director, Strategic Accounts and Communications. Biofrontera created this position in response to the growing demand and opportunity for specialized sales and marketing approaches resulting from an evolving landscape of medical practices consolidating into larger integrated organizations. Reporting to Mark Baldyga, Vice President of Sales and Marketing, Ms. Widdicombe joins Biofrontera with over 25 years of commercial leadership experience in the pharmaceutical industry, including 12 years in dermatology. She began her career in the United Kingdom with roles of increasing responsibility in sales and marketing before moving to the U.S. in 2011. "Sam strengthens our team with considerable expertise and an extraordinary professional reputation in dermatology," said Hermann Luebbert, Chairman and Chief Executive Officer. "Over the past few months we have expanded our sales organization and increased our investment in medical and commercial initiatives. This strategic appointment further demonstrates our commitment to investing in customer-facing initiatives and to growing sales." "Sam's experience in working cross-functionally to execute sales tactics, identify targets and grow high-value accounts will help us achieve our strategic goals and drive product sales. I'm delighted to have her on our team and welcome her to Biofrontera," added Mr. Baldyga. "I'm proud to join such a great organization and to support Biofrontera's commitment to the dermatology community and our patients. I look forward to working with the team, building new relationships in the industry and working with key accounts to expand the usage of Ameluz® across the U.S.," commented Ms. Widdicombe. Prior to joining Biofrontera, Ms. Widdicombe was Head of Strategic Communications at EPI Health/ Novan and previously served as Executive Director at Almirall, where she established their U.S. corporate communications function. Ms. Widdicombe began her career in dermatology at Allergan, where she was responsible for peer-to-peer initiatives for the medical dermatology franchise including Aczone®, Tazorac® and Rhofade®, and Skinmedica. Before relocating to the U.S., she was Director of European Marketing and led a UK business unit for GE Healthcare. Ms. Widdicombe holds a BSc in Biochemistry from the University of Birmingham in England. About Biofrontera Inc. Biofrontera Inc. is a U.S.-based biopharmaceutical company commercializing a portfolio of products for the treatment of dermatologic conditions with a focus on photodynamic therapy (PDT) and topical antibiotics. The Company's licensed products are used for the treatment of actinic keratoses, which are pre-cancerous skin lesions, as well as impetigo, a bacterial skin infection. For more information, visit and follow Biofrontera on LinkedIn and Twitter. Forward-Looking Statements Certain statements in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These statements include, but are not limited to, expectations for revenue growth in 2023, the adoption of PDT and sBCC for the treatment of actinic keratoses by dermatologists, the achievements of our salesforce and the performance of the Company's new hires. We have based these forward-looking statements on our current expectations and projections about future events, nevertheless, actual results or events could differ materially from the plans, intentions and expectations disclosed in, or implied by, the forward-looking statements we make. These risks and uncertainties, many of which are beyond our control, including, but not limited to, the impact of any extraordinary external events; any changes in the Company's relationship with its licensors; the ability of the Company's licensors to fulfill their obligations to the Company in a timely manner; the Company's ability to achieve and sustain profitability; whether global disruptions in supply chains will impact the Company's ability to obtain and distribute its licensed products; changes in the practices of healthcare providers, including any changes to the coverage, reimbursement and pricing for procedures using the Company's licensed products; the uncertainties inherent in the initiation and conduct of clinical trials; availability and timing of data from clinical trials; whether results of earlier clinical trials or trials of Ameluz® in combination with BF-RhodoLED® in different disease indications or product applications will be indicative of the results of ongoing or future trials; uncertainties associated with regulatory review of clinical trials and applications for marketing approvals; whether the market opportunity for Ameluz® in combination with BF-RhodoLED® is consistent with the Company's expectations; the Company's ability to comply with public company requirements; the Company's ability to regain compliance with Nasdaq continued listing standards, the Company's ability to retain and hire key personnel; the sufficiency of cash resources and need for additional financing and other factors that may be disclosed in the Company's filings with the SEC, which can be obtained on the SEC website at Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management's current estimates, projections, expectations and beliefs. The Company does not plan to update any such forward-looking statements and expressly disclaims any duty to update the information contained in this press release except as required by law. Contact: LHA Investor Relations Tirth T. Patel 212-201-6614 tpatel@lhai.com # # # SOURCE: Biofrontera Inc. View source version on accesswire.com: