Aurinia Pharmaceuticals completes US $173M offering

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By CPE News

Vancouver (pcJ News Briefs) – Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH; TSX: AUP), a clinical stage biopharmaceutical company focused on the global immunology market, has closed its previously announced underwritten public offering of 25,645,000 common shares, including 3,345,000 common shares pursuant to the full exercise of the underwriters’ option, at US $6.75 per share for gross proceeds of approximately US $173.1 million,

Leerink Partners LLC and Cantor Fitzgerald & Co. are acting as joint book-running managers. Borden Ladner Gervais LLP and Cooley LLP acted as Canadian and US legal counsel to Aurinia while Stikeman Elliott LLP and Goodwin Procter LLP acted as Canadian and US counsel to the underwriters.

Aurinia Pharmaceuticals intends to use the net proceeds for research and development activities, including Phase 3 clinical trial activities for lupus nephritis, and working capital purposes.

Aurinia Pharmaceuticals’ major investors include ILJIN Group and venBio Global Strategic Fund.

photo credit: Aurinia Pharmaceuticals