ILJIN Group and venBio backed Aurinia prices US $150.5M offering

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH; TSX: AUP), a clinical stage biopharmaceutical company focused on the global immunology market, has priced its underwritten public offering of 22,300,000 common shares at US $6.75 per share for gross offering proceeds of approximately US $150.5 million.

The offering is expected to close on or about March 20, 2017, subject to the satisfaction of customary closing conditions.

Leerink Partners LLC and Cantor Fitzgerald & Co. are acting as joint book-running managers.

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.

In December 2016, Aurinia Pharmaceuticals completed an offering of 12,777,775 units at US $2.25 per unit for gross proceeds of US $28.75 million.

Aurinia Pharmaceuticals’ major investors include ILJIN Group and venBio Global Strategic Fund. ILJIN Group, the largest shareholder, participated in the last offerin, subscribing for 1,333,333 units for US $3 million.

photo credit: Aurinia Pharmaceuticals