Aurinia Establishes at-the-Market Facility

VICTORIA, British Columbia–(BUSINESS WIRE)–Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH / TSX:AUP) (“Aurinia
or the “Company”) today announced that it has entered into an
Open Market Sale Agreement (the “Sale Agreement”) with Jefferies
LLC (“Jefferies”) pursuant to which the Company may from time to
time sell, through at-the-market (“ATM”) offerings with Jefferies
acting as sales agent or directly to Jefferies acting as principal, such
common shares in the capital of the Company (“Common Shares”) as
would have an aggregate offering price of up to US$30,000,000. Aurinia
has also filed a prospectus supplement with securities regulatory
authorities in Canada in the provinces of British Columbia, Alberta and
Ontario, and with the United States Securities and Exchange Commission,
which supplements Aurinia’s short form base shelf prospectus dated March
26, 2018, and Aurinia’s shelf registration statement on Form F-10 dated
March 26, 2018, declared effective on March 29, 2018. The listing of any
shares sold pursuant to the ATM offering is subject to the approval of
the Toronto Stock Exchange and NASDAQ. Jefferies, at Aurinia’s
discretion and instruction, will use its commercially reasonable efforts
to sell the Common Shares at market prices from time to time. Sales in
the ATM offering will only be conducted in the United States through
NASDAQ or another exchange at market prices. No sales will be conducted
in Canada or through the Toronto Stock Exchange.

Aurinia currently intends to use the proceeds from sales related to the
ATM offering, if any, to fund its operations, including the clinical
development and commercial production of voclosporin (whether for lupus
nephritis (“LN”) or other indications), regulatory, pre-marketing and
commercialization preparation activities for potential approval of
voclosporin, primarily for LN but also potentially for other voclosporin
indications, business development opportunities such as additional
product in-licensing transactions, additional clinical trials or
acquisitions of other businesses or products, capital expenditures and
working capital.

Copies of the prospectus supplement and the accompanying prospectus
relating to these securities may be obtained by contacting Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, New York 10022, by telephone at (877)
821-7388.

About Aurinia

Aurinia Pharmaceuticals 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 potential treatment of lupus nephritis,
focal segmental glomerulosclerosis, and dry eye syndrome. The company is
headquartered in Victoria, British Columbia and focuses its development
efforts globally. For further information, see our website at
www.auriniapharma.com.

Cautionary Note Regarding Forward-looking Statements

This press release contains forward-looking statements.
Forward-looking statements in this press release include statements
about the possible sales of Common Shares and statements of the current
intended use of proceeds from the sale of shares, if any.
The
forward-looking statements may include, without limitation, statements
that the net proceeds from the sale of the Common Shares will be used
primarily to fund its operations, including clinical development and
commercial production of voclosporin (whether for LN or other
indications), regulatory, pre-marketing and commercialization
preparation activities for voclosporin primarily for LN but also
potentially for other voclosporin indications, business development
opportunities such as additional product in-licensing transactions,
additional clinical trials or acquisitions of other businesses or
products, capital expenditures and working capital.
Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, events or
developments to be materially different from any future results, events
or developments expressed or implied by such forward-looking statements.

Such risks and uncertainties include, among others, the ability of
the Company to protect its intellectual property rights, securing and
maintaining corporate alliances and partnerships, the need to raise
additional capital and the effect of capital market conditions and other
factors on capital availability, the potential of its products, the
success and timely completion of clinical programs, and the Company’s
ability to successfully obtain regulatory approvals and commercialize
voclosporin on a timely basis.
These factors should be considered
carefully and readers are cautioned not to place undue reliance on such
forward-looking statements.
For additional information on risks
and uncertainties relating to these forward-looking statements,
investors should review the prospectus supplement and accompanying
prospectus and consult the Company’s ongoing quarterly filings, annual
reports and the Annual Information Form and other filings found on SEDAR
at
www.sedar.com
and on EDGAR at
www.sec.gov/edgar.

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