Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) has announced a restructuring of its Board of Directors, with the aim of aligning the company more closely with shareholder interests. The company's President and Chief Executive Officer, Peter Greenleaf, will remain a Director, having initially submitted a conditional resignation due to receiving less than majority support at the 2024 Annual General Meeting.
As part of the restructuring, Kevin Tang, President of Tang Capital Management, LLC, has been appointed as a Director. Tang, who founded the life sciences-focused investment company in 2002, brings over 20 years of experience in investing, governing, and leading companies in the biopharmaceutical industry.
The Board has accepted the conditional resignations of three directors, namely Daniel G. Billen, Ph.D., R. Hector MacKay-Dunn, J.D., K.C., and Brinda Balakrishnan, M.D., Ph.D., who also received less than majority support at the Meeting.
Following these changes, the restructured Board now 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.
Aurinia Pharmaceuticals, a fully integrated biopharmaceutical company, is focused on delivering therapies for people living with autoimmune diseases. In January 2021, the company introduced LUPKYNIS® (voclosporin), the first FDA-approved oral therapy dedicated to the treatment of adult patients with active lupus nephritis. Additionally, the company is developing AUR200, a differentiated, potential best-in-class therapy for autoimmune diseases targeting both BAFF (B-cell Activating Factor) and APRIL (A Proliferation-Inducing Ligand). Today the company's shares have moved 0.8% to a price of $6.58. If you want to know more, read the company's complete 8-K report here.
