Innate Pharma Announces HSR Clearance Regarding Expansion of Its Collaboration With Sanofi on NK Cell Engagers

Rhea-AI Summary

Innate Pharma announced the expiration of the Hart-Scott-Rodino waiting period, making its licensing agreement with Sanofi effective. This collaboration involves Sanofi licensing a Natural Killer (NK) cell engager program targeting B7H3 from Innate’s ANKET® platform. The agreement includes a €25 million upfront payment and up to €1.35 billion in potential milestones, plus royalties on net sales. The ANKET® technology is designed to enhance cancer treatment by utilizing NK cells. Innate Pharma aims to leverage its innovative approach in oncology to address unmet medical needs.

Positive

• Licensing agreement with Sanofi now effective, enhancing growth opportunities.
• Upfront payment of €25 million received from Sanofi.
• Potential total of €1.35 billion in milestone payments and royalties on net sales.
• Collaboration focuses on innovative ANKET® platform targeting cancer.

Negative

• None.

• Following expiration of Hart-Scott-Rodino waiting period regarding expansion of their collaboration on NK cell engagers, the licensing agreement between Sanofi and Innate is now effective.

MARSEILLE, France--(BUSINESS WIRE)-- Regulatory News:

Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) (“Innate” or the “Company”) announced today the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 with respect to the previously announced expansion of its collaboration with Sanofi. The licensing agreement is now effective.

As announced on December 19, 2022, Sanofi is licensing a Natural Killer (NK) cell engager program targeting B7H3 from Innate’s ANKET^® (Antibody-based NK Cell Engager Therapeutics) platform. Sanofi will also have the option to add up to two additional ANKET^® targets. Upon candidate selection, Sanofi will be responsible for all development, manufacturing and commercialization. Under the terms of the agreement, Innate will receive €25m upfront payment and up to €1.35bn total in preclinical, clinical, regulatory and commercial milestones plus royalties on potential net sales.

About ANKET^®

ANKET^® (Antibody-based NK cell Engager Therapeutics) is Innate's proprietary platform for developing next-generation, multi-specific natural killer (NK) cell engagers to treat certain types of cancer.

This versatile, fit-for-purpose technology is creating an entirely new class of molecules to induce synthetic immunity against cancer. It leverages the advantages of harnessing NK cell effector functions against cancer cells and also provides proliferation and activation signals targeted to NK cells.

Our latest innovation, the tetra-specific ANKET molecule, is the first NK cell engager technology to engage activating receptors (NKp46 and CD16), a tumor antigen and an interleukin-2 receptor (via an IL-2 variant, IL-2v) via a single molecule.

About Innate Pharma

Innate Pharma S.A. is a global, clinical-stage oncology-focused biotech company dedicated to improving treatment and clinical outcomes for patients through therapeutic antibodies that harness the immune system to fight cancer.

Innate Pharma’s broad pipeline of antibodies includes several potentially first-in-class clinical and preclinical candidates in cancers with high unmet medical need.

Innate is a pioneer in the understanding of Natural Killer cell biology and has expanded its expertise in the tumor microenvironment and tumor-antigens, as well as antibody engineering. This innovative approach has resulted in a diversified proprietary portfolio and major alliances with leaders in the biopharmaceutical industry including Bristol-Myers Squibb, Novo Nordisk A/S, Sanofi, and a multi-products collaboration with AstraZeneca.

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

Information about Innate Pharma shares:

ISIN code Ticker code LEI

FR0010331421 Euronext: IPH Nasdaq: IPHA 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, the Company’s continued ability to raise capital to fund its development and the overall impact of the COVID-19 outbreak on the global healthcare system as well as the Company’s business, financial condition and results of operations. 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/20230124005598/en/

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 recent announcement by Innate Pharma regarding Sanofi?

Innate Pharma announced the expiration of the Hart-Scott-Rodino waiting period, making its licensing agreement with Sanofi for an NK cell engager program effective.

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

Innate Pharma will receive a €25 million upfront payment, with potential total payments of up to €1.35 billion in milestones, plus royalties on net sales.

What is the focus of the NK cell engager program licensed to Sanofi?

The program targets B7H3 using Innate Pharma's ANKET® platform to enhance cancer treatment.

How does the ANKET® platform benefit cancer treatment?

The ANKET® platform utilizes natural killer (NK) cells to enhance immune responses against cancer cells.

What is the stock symbol of Innate Pharma?

The stock symbol for Innate Pharma is IPHA.