Aurinia to Explore Strategic Alternatives to Maximize Shareholder Value

 In Addition, Board has Accepted Recent Director Resignations and has Initiated a Search for New Directors

Aurinia 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.

There 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.

Additionally, 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.

Aurinia 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.

https://finance.yahoo.com/news/aurinia-board-directors-announces-exploration-200500479.html