Au­rinia’s board gets push­back from an­oth­er share­hold­er as Iljin fol­lows MKT Cap­i­tal’s lead

It’s the not-so-lucky sev­en for Au­rinia Phar­ma­ceu­ti­cals.

Ko­re­an in­vestor Iljin SNT is with­hold­ing sup­port for sev­en of the Cana­di­an biotech’s eight board mem­bers, back­ing on­ly the CEO Pe­ter Green­leaf.

Iljin, a 4.3% share­hold­er, is echo­ing MKT Cap­i­tal, which owns 4.2% of the shares, in call­ing for a board shake­up at the drug de­vel­op­er. Au­rinia mar­kets Lup­ky­nis for lu­pus nephri­tis and has two pre­clin­i­cal as­sets through ex­ter­nal deals.

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