Aurinia Pharmaceuticals Signs Agreement To Acquire Kezar Life Sciences For $6.955/Share In Cash

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH), a biopharmaceutical company focused on delivering therapies to people living with autoimmune diseases with high unmet medical needs, announced today it has entered into a definitive merger agreement (the "Merger Agreement") to acquire Kezar Life Sciences, Inc. (NASDAQ:KZR), a biotechnology company focusing on small-molecule therapeutics to treat unmet needs in autoimmunity and cancer, for $6.955 in cash per share of Kezar common stock, plus one non-transferable contingent value right ("CVR"), which represents the right to receive: (i) potential payments relating to the ongoing clinical development or disposition of zetomipzomib; (ii) certain proceeds relating to Kezar's collaboration with Everest Medicines and Kezar's sale of its Sec61‑based discovery and development program to Enodia Therapeutics; and (iii) 100% of Kezar's closing net cash in excess of $50 million, net of certain post-closing CVR-related expenses.