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

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.