Form 3: Director Discloses Affiliations; Reports No BFRI Ownership

Rhea-AI Filing Summary

Hansjoerg Plaggemars filed an Initial Form 3 reporting his relationship to Biofrontera Inc. (BFRI). He is a director and explains he serves on the supervisory board of Biofrontera AG, which holds a 10% stake in the issuer. He also holds management roles in entities that together control ~62.2% of Biofrontera AG. The filing states no securities are beneficially owned by the reporting person.

Insights

Financial Analyst

TL;DR: Routine Section 16 disclosure; no personal share ownership reported, so no immediate trading impact.

The Form 3 documents governance ties rather than direct economic exposure. Plaggemars discloses board and management roles in entities that collectively control a majority of Biofrontera AG and notes Biofrontera AG owns 10% of the issuer. The filing explicitly states he personally does not beneficially own securities of the issuer, which limits near-term insider trading implications. This is a standard initial ownership disclosure reflecting indirect corporate relationships without reported share holdings.

Corporate Governance Expert

TL;DR: Governance disclosure clarifies potential conflicts but reports no direct beneficial ownership.

The submission clarifies Plaggemars' roles across a chain of entities culminating in substantial collective ownership (approximately 62.2%) of Biofrontera AG, which itself holds a 10% interest in the issuer. The reporting person disclaims pecuniary interest in those holdings and affirms no securities are beneficially owned. This is important for transparency on relationships but does not, per the form, indicate material changes in ownership or voting power at the issuer level by the individual filer.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Plaggemars Hansjoerg

(Last) (First) (Middle)

ZIEGELHAUSER LANDSTRASSE 3

(Street)

HEIDELBERG 2M 69120

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/16/2025

3. Issuer Name and Ticker or Trading Symbol
Biofrontera Inc. [ BFRI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

The Reporting Person is filing this Form 3 because he is a member of the supervisory board of Biofrontera AG, which is a 10% owner of the Issuer. In addition, the Reporting Person is a member of the management board of Delphi Unternehmensberatung Aktiengesellschaft (Delphi Unternehmensberatung Aktiengesellschaft owns a majority interest in VV Beteiligungen Aktiengesellschaft, which owns a majority interest in Deutsche Balaton Aktiengesellschaft, and the collective ownership by Delphi Unternehmensberatung Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft and Deutsche Balaton Aktiengesellschaft is approximately 62.2% of the outstanding voting stock of Biofrontera AG). The Reporting Person disclaims any pecuniary interest in the shares held by Delphi Unternehmensberatung Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, Deutsche Balaton Aktiengesellschaft, or Biofrontera AG.

No securities are beneficially owned.

	/s/ Martin Flick, attorney in fact for Hansjoerg Plaggemars	09/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Hansjoerg Plaggemars disclose on Form 3 for BFRI?

He disclosed his roles as a director and positions in related entities, stated those entities collectively control ~62.2% of Biofrontera AG, and that Biofrontera AG owns 10% of the issuer; he reported no personal beneficial ownership of the issuer's securities.

Does the Form 3 indicate any shares owned by Hansjoerg Plaggemars in Biofrontera Inc. (BFRI)?

No. The filing explicitly states no securities are beneficially owned by the reporting person.

Why is the ~62.2% figure mentioned in the filing important?

It describes collective ownership across related entities that control a majority stake in Biofrontera AG, clarifying the corporate ownership chain; the form does not assign a pecuniary interest in those shares to Plaggemars personally.

When was the event requiring this Form 3 reported?

The Date of Event Requiring Statement shown on the form is 09/16/2025.