Business
Aurinia Board of Directors Announces Exploration of Strategic Alternatives to Maximize Shareholder Value
In Addition, Board has Accepted Recent Director Resignations and has Initiated a Search for New Directors EDMONTON, Alberta--(BUSINESS WIRE)-- Aurinia
About this update from Aurinia Pharmaceuticals Inc
[{"type":"text","content":"\nIn Addition, Board has Accepted Recent Director Resignations and has Initiated a Search for New Directors\n\n\n EDMONTON, Alberta--(BUSINESS WIRE)--\nAurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (“Aurinia” or the “Company”) today announced that its Board of Directors has initiated an exploration of strategic alternatives. As part of this process, the Board will consider a wide range of options for the company including, but not limited to, a potential sale, merger, or other strategic transaction.\n\n\nThere can be no assurance that this process will result in the company pursuing a particular transaction or other strategic outcome. Aurinia has not set a timetable for completion of this process, and it does not intend to disclose further developments unless and until it determines that further disclosure is appropriate or necessary. To assist in the review process, Aurinia has retained JP Morgan as its financial advisor, Skadden, Arps, Slate, Meagher & Flom, LLP as its US legal counsel, and Borden Ladner Gervais LLP as its Canadian legal counsel.\n\n\nAdditionally, Aurinia’s Board of Directors has accepted the resignations of George Milne and Joseph Hagan, who received less than majority support during the May 17th annual general meeting. To ensure a diverse and qualified pool of candidates, Aurinia has retained Korn Ferry, a global organizational talent firm, to assist in the search for two new directors.\n\n\nAurinia remains committed to transparent and responsive business practices that reflect the best interests of the Company, our shareholders, and other key stakeholders, including our patients, healthcare providers, and our employees.\n\n\nAbout Aurinia\n\n\nAurinia Pharmaceuticals is a fully integrated biopharmaceutical company focused on delivering therapies to treat targeted patient populations with a high unmet medical need that are impacted by autoimmune, kidney and rare diseases. In January 2021, the Company introduced LUPKYNIS® (voclosporin), the first FDA-approved oral therapy dedicated to the treatment of adult patients with active lupus nephritis. The Company’s head office is in Edmonton, Alberta, its U.S. commercial office is in Rockville, Maryland. The Company focuses its development efforts globally.\n\n\nForward-Looking Statements\n\n\nThis press release may include forward-looking statements that reflect our...