Aurinia Closes US$173.1 Million Public Offering of Common Shares and Full Exercise of Underwriters’ Option to Purchase Additional Common Shares

VICTORIA, British Columbia–(BUSINESS WIRE)–Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (TSX:AUP) (“Aurinia” or the
“Company”), a clinical stage biopharmaceutical company focused on the
global immunology market, today announced the closing of 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 to purchase additional common shares (the
“Offering”). The shares were sold at a public offering price of US$6.75
per share. The gross offering proceeds to the Company from this Offering
are approximately US$173.1 million, before deducting underwriting
discounts and commissions and other estimated offering expenses.

Leerink Partners LLC and Cantor Fitzgerald & Co. (collectively, the
“Underwriters”) acted as joint book-running managers for the Offering.

For the purposes of the TSX approval, the Company relied on the
exemption set forth in Section 602.1 of the TSX Company Manual, which
provides that the TSX will not apply its standards to certain
transactions involving eligible inter-listed issuers on a recognized
exchange, such as NASDAQ. The Company intends to use the net proceeds of
the Offering for research and development activities, including Phase 3
clinical trial activities for lupus nephritis, and working capital

The Offering was made pursuant to a U.S. registration statement on Form
F-10, declared effective by the United States Securities and Exchange
Commission (the “SEC”) on November 5, 2015 (the “Registration
Statement”), and the Company’s existing Canadian short form base shelf
prospectus (the “Base Shelf Prospectus”) dated October 16, 2015. The
prospectus supplements relating to the Offering (together with the Base
Shelf Prospectus and the Registration Statement, the “Offering
Documents”) have been filed with the securities commissions in the
provinces of British Columbia, Alberta and Ontario in Canada, and with
the SEC in the United States. The Offering Documents contain important
detailed information about the securities being offered. Before you
invest, you should read the Offering Documents and the other documents
the Company has filed for more complete information about the Company
and the Offering. Copies of the Offering Documents are available for
free by visiting the Company’s profiles on the SEDAR website maintained
by the Canadian Securities Administrators at
or the SEC’s website at,
as applicable. Alternatively, copies of the prospectus supplements are
available upon request by contacting Leerink Partners LLC; Attention:
Syndicate Department; One Federal Street; 37th Floor; Boston, MA, 02110,
or by phone at 1-800-808-7525, ext. 6142, or by email at
or Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 5th
Floor, New York, New York 10022, or by telephone at 212-829-7122, or by
e-mail at

This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any sale
of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or qualification
under the securities laws of any such jurisdiction.


Aurinia is a clinical stage biopharmaceutical company focused on
developing and commercializing therapies to treat targeted patient
populations that are suffering from serious diseases with a high unmet
medical need. The Company is currently developing voclosporin, an
investigational drug, for the treatment of lupus nephritis (LN). The
Company is headquartered in Victoria, British Columbia and focuses its
development efforts globally.


Aurinia Pharmaceuticals Inc.
Celia Economides
of IR & Communications
Hippolyte, 917-826-2664