Aurinia Adds Financial Expertise to Its Board of Directors
VICTORIA, British Columbia, July 29, 2014 (GLOBE NEWSWIRE) -- Aurinia
Pharmaceuticals Inc. ("Aurinia" or the "Company") (TSX:AUP) today announced
that Mr. Charles Rowland Jr. has joined its Board of Directors and will assume
the role of Audit Committee Chair. Mr. Rowland has over 32 years of
diversified financial experience.Most recently Mr. Rowland was Vice President
and Chief Financial Officer of ViroPharma Inc., which was acquired in January
of 2014 by Shire PLC for over $4.2 billion. He has also served as interim
Co-CEO and CFO at Endo Pharmaceuticals Inc., and CFO at Biovail
Pharmaceuticals Corporation (acquired by Valeant Pharmaceuticals International
Inc.) Mr. Rowland is a CPA and holds an M.B.A. from Rutger's University and a
B.S. in Accounting from Saint Joseph's University.
"The Company is pleased to welcome Mr. Rowland to our Board as he brings a
high level of financial expertise and a breadth of experience within our
business sector," said Mr. Stephen Zaruby, Aurinia's President and Chief
Executive Officer. "His addition to the Board will provide greater financial
oversight and Board independence for our Company."
The Company has filed an application to list its shares on the NASDAQ Global
Market. Upon meeting the required listing criteria the Company expects to
begin trading on this exchange shortly thereafter. "Mr. Rowland's extensive
financial experience and his CPA designation qualifies him to act as an Audit
Committee Chair as per the NASDAQ requirements, therefore his appointment to
our Board is an important step in our preparations towards an anticipated
NASDAQ listing," said Stephen Zaruby.
In conjunction with Mr. Rowland joining the Board, Mr. Michael Martin, Chief
Operating Officer of the Company and co-founder of Aurinia Pharma Corp., has
agreed to step off the Board. "The Company would like to thank Mr. Martin for
his gracious offer to step off the Board so that Mr. Rowland could be
appointed.Mr. Martin will continue to play a critical role as Chief Operating
Officer," said Dr. Richard Glickman, the Company's Chairman of the Board.
Aurinia is a clinical stage pharmaceutical company focused on the global
nephrology market. It is currently enrolling patients in its Phase 2b clinical
trial to evaluate the efficacy of its drug, voclosporin, as a treatment for
lupus nephritis ("LN"). LN is an inflammation of the kidneys, that if
inadequately treated can lead to end-stage renal disease, making LN a serious
and potentially life-threatening condition.
Voclosporin is a novel and potentially best in class calcineurin inhibitor
("CNI") with extensive clinical datain over 2,600 patients in other
indications.Voclosporin is made by a modification of a single amino acidof
the cyclosporine molecule (a CNI approved for use in transplant patients since
1983).This modification results in a more predictable pharmacokinetic and
pharmacodynamic relationship, an increase in potency vs. cyclosporine, an
altered metabolic profile, and potential for flat dosing.
Aurinia also has development and commercialization partners in Canada, Israel,
South Africa and Greater China. Visit www.auriniapharma.com, www.sedar.com and
www.sec.gov for more information.
CONTACT: Company Contact:
President & Chief Executive Officer
Investor & Media Contact:
Michael R. Martin
Chief Operating Officer
Press spacebar to pause and continue. Press esc to stop.