VC-backed Aurinia Pharmaceuticals closes $173 mln public offering
Canadian clinical-stage biopharmaceutical company Aurinia Pharmaceuticals Inc (Nasdaq: AUPH, TSX: AUP) has closed a public offering of common shares, generating gross proceeds of about US$173.1 million. The Victoria, British Columbia company said it plans to use the proceeds for research and development initiatives, including Phase 3 clinical trial activities for lupus nephritis, and working capital purposes. Aurinia three years ago raised US$52 million in venture capital funding. It continues to be backed by several investors in that round, including Lumira Capital and ILJIN Life Science.
21 March 2017•3 mins read
