Biofrontera Inc. announced that on May 22, 2023, the Company received a letter from Loretta Wedge tendering her resignation as a member of the Board. Ms. Wedge's resignation was accepted by the Board upon receipt of her Resignation Letter. Prior to her resignation, Ms. Wedge was the chairperson of the Audit Committee and a member of the Compensation Committee.

In the Resignation Letter, Ms. Wedge stated that she is resigning from her position as a director of the Company because, among other things, she has disagreed with the Board with respect to (i) the Board's plans for the management transition following the resignation of Erica Monaco as Chief Executive Officer of the Company and (ii) certain aspects of the Company's strategic and operational direction. On May 25, 2023, John Borer, a member of the Board, was appointed to the audit committee.