Aurinia Announces Updates to the Board of Directors
November 13 2019 - 04:05PM
Business Wire
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH / TSX: AUP)
(“Aurinia” or the “Company”), a late-stage clinical
biopharmaceutical company focused on advancing voclosporin across
multiple inflammatory and autoimmune conditions, today announced
the appointment of Ms. Jill Leversage to its Board of Directors and
the resignation of Dr. Hyeuk Joon Lee.
Dr. George Milne, Chairman of the Aurinia Board of Directors,
stated, “I am pleased to welcome Jill to the board as we look
forward to leveraging her knowledge and strategic counsel to guide
the Company’s growth and our preparations for success with
voclosporin. In addition, I’d like to thank Joon for his insight
over the past five years and wish him the best in his future
endeavors.”
Ms. Leversage began her finance career at Burns Fry Ltd., and
has held senior level positions at BMO Financial Group, RBC Capital
Markets, and TD Securities. Ms. Leversage has served on a number of
public and not-for-profit corporate boards including MAG Silver
Corp, RE Royalty Ltd., Insurance Corporate of BC, CMAIO, and the
Vancouver Airport Authority. Ms. Leversage is a Fellow of the
Institute of Chartered Professional Accountants of British Columbia
and also a Chartered Business Valuator (ret.) of the Canadian
Institute of Chartered Business Valuators.
“With her cross-border financial expertise, it is a pleasure to
welcome Jill to the Aurinia Board,” stated Peter Greenleaf,
President and Chief Executive Officer of Aurinia. “Jill brings more
than 25 years of financial and corporate governance expertise which
are critical areas of growth as Aurinia continues its
transformation into a commercial-stage biopharmaceutical
company.”
About Aurinia
Aurinia Pharmaceuticals is a late clinical-stage
biopharmaceutical company focused on developing and commercializing
therapies to treat targeted patient populations that are impacted
by serious diseases with a high unmet medical need. The Company is
currently developing an investigational drug, for the treatment of
lupus nephritis, focal segmental glomerulosclerosis and dry eye
syndrome. The Company’s head office is in Victoria, British
Columbia and focuses its development efforts globally. For further
information, see our website at www.auriniapharma.com.
About Voclosporin
Voclosporin, an investigational drug, is a novel and potentially
best-in-class calcineurin inhibitor (“CNI”) with clinical data in
over 2,600 patients across indications. Voclosporin is an
immunosuppressant, with a synergistic and dual mechanism of action.
By inhibiting calcineurin, voclosporin blocks IL-2 expression and
T-cell mediated immune responses and stabilizes the podocyte in the
kidney. It has been shown to have a more predictable
pharmacokinetic and pharmacodynamic relationship (potentially
requires no therapeutic drug monitoring), an increase in potency
(vs cyclosporin), and an improved metabolic profile compared to
legacy CNIs. Aurinia anticipates that upon regulatory approval,
patent protection for voclosporin will be extended in the United
States and certain other major markets, including Europe and Japan,
until at least October 2027 under the Hatch-Waxman Act and
comparable laws in other countries and until April 2028 with
anticipated pediatric extension. Further, the new Notice of
Allowance is expected to result in the issuance of a U.S. patent
with a term extending to December 2037. If the FDA approves the use
of voclosporin for LN and the label for such use follows the dosing
protocol under the Notice of Allowance, the issuance of this patent
will expand the scope of intellectual property protection for
voclosporin to December 2037.
Forward-Looking Statements
Certain statements made in this press release may constitute
forward-looking information within the meaning of applicable
Canadian securities law and forward-looking statements within the
meaning of applicable United States securities law. These
forward-looking statements or information include but are not
limited to statements or information with respect to voclosporin
being potentially a best-in-class CNI with robust intellectual
property exclusivity; Aurinia’s anticipation that upon regulatory
approval, patent protection for voclosporin will be extended in the
United States and certain other major markets, including Europe and
Japan, until at least October 2027 under the Hatch-Waxman Act and
comparable laws in other countries and until April 2028 with
anticipated pediatric extension; that the new Notice of Allowance
is expected to result in the issuance of a U.S. patent with a term
extending to December 2037; that if the FDA approves the use of
voclosporin for LN and the label for such use follows the dosing
protocol under the Notice of Allowance, the issuance of this patent
will expand the scope of intellectual property protection for
voclosporin to December 2037. It is possible that such results or
conclusions may change based on further analyses of these data.
Words such as “anticipate”, “will”, “believe”, “estimate”,
“expect”, “intend”, “target”, “plan”, “goals”, “objectives”, “may”
and other similar words and expressions, identify forward-looking
statements. We have made numerous assumptions about the
forward-looking statements and information contained herein,
including among other things, assumptions about: that another
company will not create a substantial competitive product for
Aurinia’s business without violating Aurinia’s intellectual
property rights; the costs and expenses associated with Aurinia’s
clinical trials; the planned studies achieving positive results;
and Aurinia being able to extend and protect its patents on terms
acceptable to Aurinia. Even though the management of Aurinia
believes that the assumptions made, and the expectations
represented by such statements or information are reasonable, there
can be no assurance that the forward-looking information will prove
to be accurate.
Forward-looking information by their nature are based on
assumptions and involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of Aurinia to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking information. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in forward-looking statements or information. Such risks,
uncertainties and other factors include, among others, the
following: difficulties, delays, or failures we may experience in
the conduct of our clinical trial; difficulties we may experience
in completing the development and commercialization of voclosporin;
the market for our business may not be as estimated; Aurinia may
have to pay unanticipated expenses; estimated costs for clinical
trials may be underestimated, resulting in Aurinia having to make
additional expenditures to achieve its current goals; Aurinia not
being able to extend or fully protect its patent portfolio for
voclosporin; and competitors may arise with similar products.
Although we have attempted to identify factors that would cause
actual actions, events or results to differ materially from those
described in forward-looking statements and information, there may
be other factors that cause actual results, performances,
achievements or events to not be as anticipated, estimated or
intended. Also, many of the factors are beyond our control. There
can be no assurance that forward-looking statements or information
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, you should not place undue reliance on forward-looking
statements or information.
Except as required by law, Aurinia will not update
forward-looking information. All forward-looking information
contained in this press release is qualified by this cautionary
statement. Additional information related to Aurinia, including a
detailed list of the risks and uncertainties affecting Aurinia and
its business can be found in Aurinia’s most recent Annual
Information Form available by accessing the Canadian Securities
Administrators’ System for Electronic Document Analysis and
Retrieval (SEDAR) website at www.sedar.com or the U.S. Securities
and Exchange Commission’s Electronic Document Gathering and
Retrieval System (EDGAR) website at www.sec.gov/edgar.
We seek Safe Harbor.
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version on businesswire.com: https://www.businesswire.com/news/home/20191113005843/en/
Investor & Media Contacts:
Glenn Schulman, PharmD, MPH Corporate Communications, Aurinia
gschulman@auriniapharma.com
Aurinia Pharmaceuticals (NASDAQ:AUPH)
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