Aurinia Pharmaceuticals takes in $52 million from private placement

Deal funds clinical and nonclinical development, corporate purposes

By Devika Patel

Knoxville, Tenn., Feb. 14 - Aurinia Pharmaceuticals Inc. said it completed a $52 million private placement.

The sale was conducted with lead investors venBio, New Enterprise Associates, Redmile Group, RA Capital Management, Great Point Partners and Apple Tree Partners, as well as Lumira Capital, ILJIN Life Science Co. Ltd. and Difference Capital.

Proceeds will be used for clinical and nonclinical development of voclosporin and for general corporate purposes.

The pharmaceutical company is based in Victoria, B.C. Its lead drug candidate, voclosporin, is a therapy for lupus nephritis.

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