Innate Pharma Announces Exclusive License of Antibodies to Takeda for Celiac Disease Research Program

Rhea-AI Summary

Innate Pharma (Euronext: IPH; Nasdaq: IPHA) announced an exclusive license agreement with Takeda for developing antibody drug conjugates (ADC) targeting an undisclosed area, focusing on Celiac disease. Takeda will manage the development, manufacturing, and commercialization of products. Innate will receive a $5 million upfront payment and could earn up to $410 million in future milestone payments, plus royalties on net sales. This collaboration aims to leverage Innate's antibody engineering expertise, expanding its scientific applications beyond oncology.

Positive

• Exclusive license agreement with Takeda for ADC development.
• Upfront payment of $5 million.
• Potential for up to $410 million in milestone payments.
• Royalties on potential product sales.

Negative

• None.

• Takeda to obtain exclusive worldwide rights to develop, manufacture and commercialize Antibody Drug Conjugates (ADC) using a panel of selected antibodies developed by Innate

MARSEILLE, France--(BUSINESS WIRE)-- Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) today announced that it has entered into an exclusive license agreement with Takeda under which Innate grants Takeda exclusive worldwide rights to research and develop antibody drug conjugates (ADC) using a panel of selected Innate antibodies against an undisclosed target, with a primary focus in Celiac disease.

Takeda will be responsible for the future development, manufacture and commercialization of any potential products developed using the licensed antibodies.

Yannis Morel, Ph.D., Executive Vice President, Product portfolio strategy & Business development at Innate Pharma

“We are thrilled to be working with Takeda, a company which has been very successful in developing new drugs across multiple therapeutic areas. This agreement expands the application of Innate’s science beyond our oncology focus and demonstrates how our antibody engineering expertise can play a major role in developing Antibody Drug Conjugate formats. Our antibody platform has the broad ability to contribute to modalities not only via NK Cell Engagers through our ANKET^® technology but also with Antibody Drug Conjugates.”

Under the terms of the license agreement, Innate will receive a $5m upfront payment and is eligible to receive up to $410m in future development, regulatory and commercial milestones if all milestones are achieved during the term of the agreement, plus royalties on potential net sales of any commercial product resulting from the license.

About Innate Pharma

Innate Pharma S.A. is a global, clinical-stage biotechnology company developing immunotherapies for cancer patients. Its innovative approach aims to harness the innate immune system through therapeutic antibodies and its ANKET^® (Antibody-based NK cell Engager Therapeutics) proprietary platform.

Innate’s portfolio includes lead proprietary program lacutamab, developed in advanced form of cutaneous T cell lymphomas and peripheral T cell lymphomas, monalizumab developed with AstraZeneca in non-small cell lung cancer, as well as ANKET^® multi-specific NK cell engagers to address multiple tumor types.

Innate Pharma is a trusted partner to biopharmaceutical companies such as Sanofi and AstraZeneca, as well as leading research institutions, to accelerate innovation, research and development for the benefit of patients.

Headquartered in Marseille, France with a US office in Rockville, MD, Innate Pharma is listed on Euronext Paris and Nasdaq in the US.

Learn more about Innate Pharma at www.innate-pharma.com and follow us on Twitter and LinkedIn.

Information about Innate Pharma shares

ISIN code		FR0010331421
Ticker code		Euronext: IPH Nasdaq: IPHA
LEI		9695002Y8420ZB8HJE29

Disclaimer on forward-looking information and risk factors

This press release contains certain forward-looking statements, including those within the meaning of the Private Securities Litigation Reform Act of 1995. The use of certain words, including “believe,” “potential,” “expect” and “will” and similar expressions, is intended to identify forward-looking statements. Although the company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, progression of and results from its ongoing and planned clinical trials and preclinical studies, review and approvals by regulatory authorities of its product candidates, the Company’s commercialization efforts and the Company’s continued ability to raise capital to fund its development. For an additional discussion of risks and uncertainties which could cause the company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risque") section of the Universal Registration Document filed with the French Financial Markets Authority (“AMF”), which is available on the AMF website http://www.amf-france.org or on Innate Pharma’s website, and public filings and reports filed with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 20-F for the year ended December 31, 2021, and subsequent filings and reports filed with the AMF or SEC, or otherwise made public, by the Company.

This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230402005026/en/

For additional information, please contact:

Investors

Innate Pharma

Henry Wheeler

Tel.: +33 (0)4 84 90 32 88

Henry.wheeler@innate-pharma.fr

Media Relations

NewCap

Arthur Rouillé

Tel.: +33 (0)1 44 71 00 15

innate@newcap.eu

Source: Innate Pharma SA

FAQ

What is the license agreement between Innate Pharma and Takeda?

Innate Pharma granted Takeda exclusive worldwide rights to develop antibody drug conjugates using Innate's antibodies, focusing on Celiac disease.

What are the financial terms of the agreement between Innate Pharma and Takeda?

Innate Pharma will receive a $5 million upfront payment and is eligible for up to $410 million in milestones, plus royalties on net sales.

What is the focus of the antibody drug conjugates developed by Takeda?

The primary focus of the antibody drug conjugates will be on Celiac disease.

How does the agreement impact Innate Pharma's business?

The agreement expands Innate's scientific application beyond oncology and brings potential financial benefits through milestone payments and royalties.