Aurinia Pharmaceuticals (AUPH) Announces Board Restructuring

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today announced that it has restructured its Board of Directors (the Board) to further align the Company with shareholder interests.

Peter Greenleaf, President and Chief Executive Officer of Aurinia, remains a Director. Mr. Greenleaf had conditionally resigned as a Director because he received less than majority support at the 2024 Annual General Meeting (the Meeting). The Board carefully considered all relevant factors and determined that there are exceptional circumstances that warrant the rejection of Mr. Greenleaf’s conditional resignation. The Board believes that maintaining Mr. Greenleaf’s Director position is in the best interests of the Company and allows for the Company’s continued focus on commercial execution, free cash flow generation, and advancement of its pipeline.

The Board has appointed Kevin Tang, President of Tang Capital Management, LLC, a life sciences-focused investment company that he founded in 2002, as a Director. Mr. Tang has more than 20 years of experience investing in, governing and leading companies in the biopharmaceutical industry. His biography can be found here.

The Board has accepted the conditional resignations of Daniel G. Billen, Ph.D., R. Hector MacKay-Dunn, J.D., K.C., and Brinda Balakrishnan, M.D., Ph.D., who received less than majority support at the Meeting.

The restructured Board consists of seven members: Jeffrey A. Bailey; Robert T. Foster, Pharm.D., Ph.D., DSc; Peter Greenleaf; David R.W. Jayne, M.D., FRCP, FRCPE, FMedSci; Jill Leversage; Karen Smith, M.D., Ph.D., MBA, LLM; and Kevin Tang.

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