Exhibit 99.11

Deutsche Balaton Biotech AG (Frankfurt am Main)

DELPHI Unternehmensberatung Aktiengesellschaft (Heidelberg)

Announcement pursuant to Section 23 Para. 1 Clause 1 No. 1 of the German Securities

Acquisition and Takeover Act (“WpÜG”)

Deutsche Balaton Biotech AG (" DB Biotech ") with its registered office in Frankfurt am Main, business address in 69120 Heidelberg, Ziegelhäuser Landstraße 1, and DELPHI Unternehmensberatung Aktiengesellschaft (" DELPHI ") with its registered office in Heidelberg, business adress ibidem (DB Biotech and DELPHI hereinafter jointly referred to as the " Bidders ") have published the offer document for their Voluntary Acquisition Offer (" Acquisition Offer ") to the shareholders of Biofrontera AG, Leverkusen, (" Target Company ") for the acquisition of up to 500,000 registered shares of Biofrontera AG (ISIN DE0006046113 / WKN 604611) (" Biofrontera Shares ") against payment of a cash benefit of original EUR 7.20 per share on 21 June 2019. On 1 July 2019, the bidders announced that they would increase the consideration to EUR 8.00 per Biofrontera share. The Offer Amendment and a notice in the Federal Gazette were published on 4 July 2019. The offer document and the Offer Amendment are available on the Internet at

https://www.deutschebalatonbiotech.de/erwerbsangebot-biofrontera-2019.

The period for acceptance of the Acquisition Offer ends on 19 July 2019, 24:00 hours (local time Frankfurt am Main).

Until 12 July 2019, 11:00 a.m. (local time Frankfurt am Main) (" Reporting Date ") the Acquisition Offer was accepted for a total of 31,443 (in words: thirty-one thousand four hundred forty-three) Biofrontera Shares. This corresponds to 0.07 % of the share capital and the voting rights of the Target Company.

The Bidders and the persons acting jointly with the Bidders held the following Biofrontera Shares as of the Reporting Date:

The Bidders and the persons acting jointly with the Bidders thus together hold a total of 12,520,299 Biofrontera Shares. This corresponds to approximately 28.05 % of the share capital and voting rights of the Target Company.

The voting rights from Biofrontera Shares held by DB Biotech are attributed to Deutsche Balaton AG, VV Beteiligungen Aktiengesellschaft, DELPHI and Mr Wilhelm K. T. Zours pursuant to Section 30 Para. 1 Clause 1 no. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by DELPHI are attributed to Mr. Wilhelm K. T. Zours pursuant to Section 30 Para. 1 Clause 1 no. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by Deutsche Balaton are attributed to VV Beteiligungen Aktiengesellschaft, DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by ABC Beteiligungen AG are attributed to Deutsche Balaton Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by Sparta AG are attributed to Deutsche Balaton Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by Prisma Equity AG are attributed to Deutsche Balaton Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG. The Biofrontera Shares held by Prisma Equity AG are being held on a trust basis for DB Biotech and are used to serve the claim of assignment of Biofrontera Shares to which the owners of the stock purchase warrant issued by DB Biotech in 2018 are entitled. For this reason, the Biofrontera Shares held by Prisma Equity AG are also attributed to DB Biotech pursuant to Section 30 Para. 1 Clause 1 No. 2 WpÜG. Due to the allocation to DB Biotech described above, the Biofrontera Shares held by Prisma Equity AG are also attributed to Deutsche Balaton Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, DELPHI Unternehmensberatung Aktiengesellschaft and Mr Wilhelm K. T. Zours pursuant to Section 30 Para. 1 Clause 1, No. 2, Clause 2 WpÜG.

The voting rights from Biofrontera Shares held by AEE Ahaus-Enscheder AG are attributed to Deutsche Balaton Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by MARNA Beteiligungen AG are attributed to Deutsche Balaton Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by Youbisheng Green Paper AG are attributed to Deutsche Balaton Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by Ming Le Sports AG are attributed to Deutsche Balaton Aktiengesellschaft, VV Beteiligungen Aktiengesellschaft, DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG.

The voting rights from Biofrontera Shares held by Strawtec Group AG are attributed to DELPHI and Mr. Wilhelm K. T. Zours each pursuant to Section 30 Para. 1 Clause 1 No. 1, Clause 3 WpÜG.

Consequently, Mr. Wilhelm K.T. Zours is attributed voting rights from a total of 12,520,299 Biofrontera Shares. This corresponds to a share of 28.05 % of the capital stock and voting rights of Biofrontera AG.

The total number of Biofrontera Shares for which the Acquisition Offer has already been accepted as of the Reporting Date, plus the number of Biofrontera Shares directly held by the Bidders and the persons acting in concert with the Bidders as of the Reporting Date, therefore amounts to 12,551,742 Biofrontera Shares, corresponds to approximately 28.12 % of the share capital and voting rights of the Target Company.

In addition to the aforementioned shareholdings, neither the Bidders nor any of the persons acting jointly with the Bidders within the meaning of Section 2 para. 5 WpÜG or their subsidiaries hold shares of the Target Company and no further voting rights from Biofrontera Shares pursuant to Section 30 WpÜG are attributable to them. Instruments within the meaning of Sections 38, 39 of the Securities Trading Act (“WpHG”) are held neither by the Bidders nor by persons acting jointly with the Bidders or their subsidiaries.

This publication is available - at the same time also in a non-binding English translation - as follows:

on the Internet at: https://www.deutschebalatonbiotech.de/erwerbsangebot-biofrontera-2019

on the Internet dated: 12 July 2019

Heidelberg, the 12 July 2019

Deutsche Balaton Biotech AG

DELPHI Unternehmensberatung Aktiengesellschaft

2

Exhibit 99.12

POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS , that the undersigned each hereby constitutes and appoints Uwe Pirl and Philipp Wiedmann , and each of them, his true and lawful attorney-in-fact, with full power of substitution, to sign any and all instruments, certificates and documents that may be necessary, desirable or appropriate to be executed on behalf of the undersigned as an individual or in the undersigned’s capacity as an officer, director, board member, or other representative, as applicable, of any corporation, limited liability company or other entity, pursuant to the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, and the Investment Advisers Act of 1940, in each case as amended from time to time, and any and all rules and regulations of the United States Securities and Exchange Commission promulgated thereunder, or pursuant to any U.S. state securities or “blue sky” law, or the rules of any U.S. national securities exchange, registered securities association, or other self-regulatory organization (collectively, “ U.S. Securities Laws and Rules ”), under seal or otherwise, and to acknowledge and file or furnish the same, with all exhibits thereto, and any other documents in connection therewith, with the United States Securities and Exchange Commission, and with any other entity, when and if such execution, acknowledgment, and filing or furnishing is mandated by the U.S. Securities Laws and Rules, or any of them, as applicable, granting unto said attorney-in-fact the full power and authority to do and perform each and every act and thing necessary, desirable or appropriate, to fulfill the foregoing purposes, to the full extent that the undersigned might or could do in person, thereby ratifying and confirming all that said attorney-in-fact, or his substitutes, may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF , this Power of Attorney has been signed as of the 12th day of July, 2019.