Ms. Celia Economide reports

AURINIA CLOSES US$173.1 MILLION PUBLIC OFFERING OF COMMON SHARES AND FULL EXERCISE OF UNDERWRITERS' OPTION TO PURCHASE ADDITIONAL COMMON SHARES

Aurinia Pharmaceuticals Inc. has closed its previously announced underwritten public offering of 25,645,000 common shares, including 3,345,000 common shares, pursuant to the full exercise of the underwriters' option to purchase additional common shares. The shares were sold at a public offering price of $6.75 (U.S.) per share. The gross offering proceeds to the company from this offering are approximately $173.1-million (U.S.), before deducting underwriting discounts and commissions and other estimated offering expenses.

Leerink Partners LLC and Cantor Fitzgerald & Co. acted as joint bookrunning managers for the offering.

For the purposes of the Toronto Stock Exchange approval, the company relied on the exemption set forth in Section 602.1 of the TSX company manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq Stock Market. The company intends to use the net proceeds of the offering for research and development activities, including phase 3 clinical trial activities for lupus nephritis, and working capital purposes.

About Aurinia Pharmaceuticals Inc.

Aurinia is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies to treat targeted patient populations that are suffering from serious diseases with a high unmet medical need. The company is currently developing voclosporin, an investigational drug, for the treatment of lupus nephritis. The company is headquartered in Victoria, B.C., and focuses its development efforts globally.