- 19 - Erica accepted the CEO role in October of 2021 after five years leading the finance and operations of the organization. Erica joined Biofrontera Inc. as “employee #2” in the newly formed U.S.-based subsidiary of a German company, with the goal to commercialize the 2015 FDA approved flagship drug Ameluz® (aminolevulinic acid hydrochloride) topical gel, 10%, in the United States. Starting in 2016, Erica built the business infrastructure to address operations, business logistics, commercial pricing, financial reporting and compliance required to operate a start-up in the U.S. market. The parent company provided a manual checkbook and the key to a 5,000 sq. foot sublease at the start. Within four months of accepting the keys, Biofrontera had 15 employees and a commercial product on the market in the U.S. Today Erica leads a team of 90+ employees generating $30 million in revenue. Since company launch, Erica has scaled the business, revised commercial strategies, expanded the salesforce, overseen the merger and integration of another pharma company, led the company through the pandemic, and has grown revenue to record heights. In 2021, Erica led the spin-off and IPO of Biofrontera, Inc. and has raised over $60 million in funding. In 2019, Biofrontera Inc. expanded its U.S.-product portfolio with the FDA-approved drug Xepi® (ozenoxacin) cream, 1%. Today, Biofrontera is a U.S.-based biopharmaceutical company commercializing a portfolio of pharmaceutical products focused on the fields of photodynamic therapy and topical antibiotics. In collaboration with healthcare providers, the company is fully committed to advancing treatment options and patient care. With two FDA-approved products and a scalable business strategy, Biofrontera Inc. is ideally positioned for sustainable growth. The company, with Erica in charge, has the goal of becoming a leading U.S. specialty dermatology company by focusing on innovative therapy options that enable dermatology healthcare professionals to help improve the lives of patients. As a business woman and a female CEO, what unique challenges have you faced in your career, and how have you overcome them? A few challenges come to mind when thinking about this question. Most notable is finding both a mentor and balance in life. Finding a female mentor at the senior level has been challenging. I am in an industry where so many leaders are talented men. I have learned a great deal from them, however we, as women, have different struggles in the workforce and in leadership. When I attend meetings with bankers or conferences with physicians, most of the attendees are men and statistically I am most often an N of 1. This can make it challenging to have my voice heard. In some, not all, of these situations I find my gender an added handicap. Without a strong female mentor, I occasionally struggle to claim my seat at the table and be heard. So often your work product might be welcome, but not necessarily your ideas or point of view. I have found myself at times taking on the bulk of executing the details of projects while seeing someone else say “I” for work that has been completed either collaboratively or primarily through my efforts. Despite lacking true mentors at the executive level, I have found many wonderful women in different roles that remind me to keep fighting for what I believe in. Being surrounded by strong women who are not afraid to tell me what they think and who also build my confidence is invaluable. I would not be sitting here today without some key women in my life. Thank you to Andrea, Alison, Kerry and Lori. You continue to shape my thinking and keep me grounded and humble. Thankfully, and proudly, I’ve created a culture at Biofrontera where I can lead by example and provide mentorship and growth opportunities to females who are trying to pave a similar path for themselves. At Biofrontera, I have been a strong advocate for diversity and inclusion. More than 60% USA CEO Today Business Women Awards 2023
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