Contract

Exhibit 99.4

[***] indicates material has been omitted pursuant to a Confidential Treatment Request filed with the Securities and Exchange Commission. A complete copy of this agreement has been filed separately with the Securities and Exchange Commission.

Agreement

About the Settlement of Litigations

among

1. Biofrontera AG, Xxxxxxxxxxxx Xxx 000, 00000 Xxxxxxxxxx,

2. Mr. Xxxxxxx X. X. Zours, business adress: Deutsche Balaton AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx

3. Deutsche Balaton AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx

4. Delphi Unternehmensberatung AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx

5. VV Beteiligungen AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx

6. ABC Beteiligungen AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx

7. Deutsche Balaton Biotech AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx,

8. SPARTA AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx,

9. Strawtec Group AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx,

10. Heidelberger Beteiligungsholding AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx,

11. Altech Advanced Materials AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx,

12. Ming Le Sports AG, Xxxxxxxxxxxx Xxxxxxxxxx 0, 00000 Xxxxxxxxxx,

- the Parties at 3. to 12. hereinafter together „Balaton-Companies“ -

and

13. Maruho Deutschland GmbH, Xxxxxxxxxxxx Xxx 000, 00000 Xxxxxxxxxx

[***************************************************]

Enclosure – Agreed Language:

Leverkusen, November XX, 2021 -

Biofrontera AG has been in mediation proceedings with Mr Xxxxxxx X. X. Zours and Deutsche Balaton AG for a year in order to find a solution for the settlement of legal disputes and other differences (see ad hoc announcement of 11 September 2020). Mr. Xxxxx is an indirect major shareholder of Biofrontera AG, holding the shares in Biofrontera AG through various companies (hereinafter "Deutsche Balaton Group"). Another major shareholder is Maruho Deutschland GmbH, a subsidiary of Maruho Co. Ltd, Japan. At the upcoming Annual General Meeting of Biofrontera AG on 14 December 2021, new elections to the Supervisory Board will be held as scheduled. In the course of the mediation process, agreement was reached between the Deutsche Balaton Group and the incumbent Supervisory Board of Biofrontera AG on the candidates for the Supervisory Board. The incumbent Supervisory Board therefore intends to propose the following candidates for election at the Annual General Meeting: 

a. Xx. Xxxxxx Xxxxxxxxx

b. Xx. Xxxxx Xxxxxxx

c. Mrs. Xxxx. Xxxxxx Xxxxxxxx

d. Mr Xxxxxxxxx Xxxxxxxx

e. Xx. Xxxxxx Xxxxxxxx

f. Mr Xxxxxxx X. X. Zours

Of the above candidates, Mr. Xxxxx declared his willingness to stand for election as Chairman of the Supervisory Board.

Maruho Deutschland GmbH supports the proposal of the incumbent Supervisory Board. The companies of the Deutsche Balaton Group and Maruho Deutschland GmbH have made a one-time commitment to vote in favor of the election of the aforementioned candidates in the upcoming Annual General Meeting. Biofrontera AG, on the one hand, and Mr. Xxxxx and companies of the Deutsche Balaton Group, on the other hand, have also mutually agreed in a settlement ("Settlement") to terminate all lawsuits pending between them by withdrawing their claims. The Settlement also provides that the Authorized Capital II resolved by the Annual General Meeting of Biofrontera AG on 24 May 2017 under agenda item 6, which is the subject of a pending action for rescission and which would in any case be limited until 23 May 2022, is not to be used even after the withdrawal of the action. In order to ensure that Biofrontera AG will be able to raise further capital in the future, Deutsche Balaton AG will apply for an amendment to the agenda of the next shareholders meeting and propose the adoption of a respective authorized capital. The settlement does not include a review regarding the background of the IPO of Biofrontera Inc. in the USA. The settlement is subject to the condition precedent that the aforementioned candidates are elected to the Supervisory Board of Biofrontera AG by 31 December 2021 at the latest.