Full Press Release Details
Aurinia Announces Appointment
of New Chief Executive Officer
Appointment enhances commercial,
operational and financial expertise
a proven track record of building shareholder value
VICTORIA, British Columbia--(BUSINESS WIRE)--April 11,
2016--Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH-TSX:AUP) ("Aurinia" or
the "Company"), a biopharmaceutical company focused on the global
nephrology market, announced today that the company has appointed Mr.
Charles Rowland MBA, CPA, as its Chief Executive Officer replacing Mr.
Stephen Zaruby who has announced his resignation as the company's CEO
and from its Board of Directors.
Mr. Rowland has more than 30 years of experience in pharmaceutical
operations, strategic value creation as well as financial management. He
served as the Vice President and Chief Financial Officer
of ViroPharma Incorporated, an international biopharmaceutical company,
until it was acquired by Shire plc for $4.2B in January 2014. As a
member of the executive team, he was key to developing the global
strategic direction of the company, its international expansion and its
strong financial position. During his time at ViroPharma, the company
returned significant value to its stakeholders through a series of
strategic business and operational activities including the acquisition
and launch of several products in the U.S. and Europe,
including Cinryze (C1 esterase inhibitor, human) for prevention of
attacks of a rare disease called hereditary angioedema. Prior to
joining ViroPharma in 2008, Mr. Rowland held a number of leadership
positions at several biotechnology and pharmaceutical companies, most
recently as interim Co-Chief Executive Officer and Executive Vice
President and Chief Financial Officer for Endo Pharmaceuticals Inc., a
specialty pharmaceutical company with a primary focus in pain
management, where he served from 2006 to 2008. At Endo, Mr. Rowland
drove the strategic planning process, including the design and
implementation of the company's mid and long-term business and
financial strategy. Mr. Rowland previously held positions of increasing
responsibility at Biovail Corporation, Breakaway Technologies, Inc.,
Pharmacia Corporation, Novartis AG and Bristol-Myers Squibb.
Mr. Rowland's board experience includes companies such as BluePrint
Medicines, Vitae Pharmaceuticals and Idenix Pharmaceuticals. Idenix was
acquired by Merck in 2014.
"Charlie is a proven leader with extensive business, operational and
financial experience and I believe that he possesses the skills required
to maximize shareholder value and unlock the company's true intrinsic
value," commented Richard M. Glickman, the Chairman of Aurina's Board of
Directors. "The appointment of Charlie into the CEO role of the company
is an integral part of the Board's strategy to prepare the company for
the completion of its AURA-LV study and optimize the corporation's
"I'm excited to join the company at this important time," said Mr.
Rowland. "I believe that Voclosporin represents a true solution for
patients suffering from lupus nephritis, and I look forward to working
with the Aurinia team and lupus advocacy organizations to deliver
this important product to patients globally in the most strategic
and cost effective manner to maximize shareholder value."
"On behalf of the Board of Directors, I want to thank Stephen Zaruby for
his efforts and commitment to the company over the past several
years and to patients with Lupus who have participated
in Aurinia's global clinical study. We wish him well in his future
endeavors," added Mr. Glickman.
Aurinia is a clinical stage pharmaceutical company focused on the global
nephrology market. The fully-enrolled Phase 2b AURA-LV clinical
trial is evaluating the efficacy of its lead drug, voclosporin, as a
treatment for active LN. LN is an inflammation of the kidneys, that if
inadequately treated can lead to end-stage renal disease, making LN a
serious and potentially life-threatening condition.
Voclosporin is a novel and potentially
best-in-class calcineurin inhibitor ("CNI") with extensive clinical data
in over 2,000 patients in other indications. Voclosporin is made by a
modification of a single amino acid of the cyclosporine molecule (a CNI
approved for use in transplant patients since 1983). This modification
results in a more predictable pharmacokinetic
and pharmacodynamic relationship, an increase in potency vs.
cyclosporine, an altered metabolic profile, and potential for flat
We seek Safe Harbor.
Aurinia Pharmaceuticals Inc.
Chief Financial Officer
Barry Mire: bmire@renmarkfinancial.com
Welsh: lwelsh@renmarkfinancial.com
416-644-2020 / 514-939-3989