Aurinia Announces Appointment of Company Founder, Dr. Richard M. Glickman, as its New Chief Executive Officer
06 February 2017 - 10:15PM
Business Wire
Aspreva Founder and CEO to lead the next stage
of Aurinia’s development
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH / TSX: AUP)
(“Aurinia” or the “Company”), a clinical stage biopharmaceutical
company focused on the global immunology market, today announced
its Board of Directors has appointed Dr. Richard M. Glickman L.LD
(Hon), the Company's founder and Chairman of the Board, as
Aurinia’s Chairman and Chief Executive Officer (CEO). The board
accepted the resignation of Charles Rowland as CEO and an executive
member of the Board, effective immediately.
“My decision to take on the CEO role at this important time for
Aurinia is fueled by my absolute conviction in the potential for
voclosporin to transform the lupus nephritis treatment landscape,”
said Dr. Glickman. “I have worked on LN for much of my career and
believe that voclosporin will significantly improve the lives of
patients suffering from this disease. Building on the success of
the Phase 2 AURA study, Aurinia’s goal is to advance voclosporin
while optimizing the company’s strategic vision and maximizing
shareholder value. I look forward to engaging with our key
stakeholders and working with this world-class team as we unlock
the value and potential of this unique program, beginning with the
initiation of our planned pivotal Phase 3 trial in the second
quarter of 2017.”
“On behalf of the board, I am grateful to Charlie for his
leadership as CEO over the last year and his many contributions to
the strategic and operating imperatives of the company,” added Dr.
Glickman.
Dr. Glickman brings over 30 years of experience in the creation
and operation of healthcare ventures, founding and co-founding
numerous companies during his career. As the co-founder, Chairman
and CEO of Aspreva Pharmaceuticals, he played an integral role in
developing and establishing CellCept®, or MMF, as the current
standard of care for the treatment of lupus nephritis (LN). Aspreva
Pharmaceuticals was acquired by Swiss pharmaceutical company
Galenica for nearly $1B in 2008. He currently serves as founding
Chairman of Essa Pharmaceuticals Inc., Chairman of the Board of
Engene Corporation and a Director of Cardiome Pharma. He is
also a Partner at Lumira Capital, one of Canada’s most successful
healthcare focused venture capital firms. Dr. Glickman has served
on numerous biotechnology and community boards, including member of
the federal government’s National Biotechnology Advisory Committee,
Director of the Canadian Genetic Disease Network, Chairman of Life
Sciences B.C. and a member of the British Columbia Innovation
Council.
Dr. Glickman is the recipient of numerous awards including the
Ernst and Young Entrepreneur of the Year, a recipient of both
BC and Canada’s Top 40 under 40 award, the BC Lifesciences
Leadership Award and the Corporate Leadership Award from the Lupus
Foundation of America (LFA).
“Dr. Glickman is a long-time supporter of lupus patients,
clinicians and researchers and I know first-hand and greatly admire
what his tenacity and passion can accomplish,” said Sandra C.
Raymond, President and Chief Executive Officer of the Lupus
Foundation of America. “He is a true visionary and a pioneer in
lupus, a field in which development of new medications to treat the
disease has been challenging. I’m thrilled to be working with him
in this capacity and with the Aurinia team as voclosporin moves
towards potentially becoming the first FDA approved treatment for
lupus nephritis.”
About Lupus Nephritis (LN)Lupus Nephritis (LN) in an
inflammation of the kidney caused by Systemic Lupus Erythematosus
(SLE) and represents a serious progression of SLE. SLE is a
chronic, complex and often disabling disorder and affects more than
500,000 people in the United States (mostly women). The disease is
highly heterogeneous, affecting a wide range of organs & tissue
systems. It is estimated that as many as 60% of all SLE patients
have clinical LN requiring treatment. Unlike SLE, LN has
straightforward disease outcomes where an early response correlates
with long-term outcomes, measured by proteinuria. In patients with
LN, renal damage results in proteinuria and/or hematuria and a
decrease in renal function as evidenced by reduced estimated
glomerular filtration rate (eGFR), and increased serum creatinine
levels. LN is debilitating and costly and if poorly controlled, LN
can lead to permanent and irreversible tissue damage within the
kidney, resulting in end-stage renal disease (ESRD), thus making LN
a serious and potentially life-threatening condition.
About VoclosporinVoclosporin, an investigational drug, is
a novel, best-in-class calcineurin inhibitor (“CNI”) with clinical
data in over 2,000 patients across multiple indications.
Voclosporin is an immunosuppressant, with a synergistic and dual
mechanism of action that has the potential to improve near and
long-term outcomes in LN when added to standard of care (MMF). By
inhibiting calcineurin, voclosporin blocks IL-2 expression and
T-cell mediated immune responses. The Company anticipates that upon
regulatory approval, patent protection for voclosporin will be
extended in the United States to at least late 2027 under the
Hatch-Waxman Act.
About AuriniaAurinia 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 (LN). The company is headquartered
in Victoria, BC and focuses its development efforts globally.
www.auriniapharma.com.
Forward Looking StatementsThis press release contains
forward-looking statements, including statements related to
Aurinia's clinical and regulatory strategy, and future clinical
development plans for voclosporin, including the initiation of its
planned pivotal Phase 3 trial in the second quarter of 2017,
analysis, assessment and conclusions of the results of the AURA-LV
clinical study. It is possible that such results or conclusions may
change based on further analyses of these data. Words such as
"plans," "intends," “may,” "will," "believe," and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon Aurinia’s current
expectations. Forward-looking statements involve risks and
uncertainties. Aurinia’s actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of these risks and
uncertainties, which include, without limitation, the risk that
Aurinia’s analyses, assessment and conclusions of the results of
the AURA-LV clinical study set forth in this release may change
based on further analyses of such data, and the risk that Aurinia’s
clinical studies for voclosporin may not lead to regulatory
approval. These and other risk factors are discussed under "Risk
Factors" and elsewhere in Aurinia’s Annual Information Form for the
year ended December 31, 2015 filed with Canadian securities
authorities and available at www.sedar.com and on Form 40-F with
the U.S. Securities Exchange Commission and available at
www.sec.gov, each as updated by subsequent filings, including
filings on Form 6-K. Aurinia expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in Aurinia's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based.
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Investor Contact:Celia EconomidesHead of IR &
Communicationsceconomides@auriniapharma.comorMedia
Contact:Christopher
HippolyteChristopher.hippolyte@inventivhealth.com917-826-2664