- Innate Pharma announces a €15 million investment from Sanofi, reinforcing their collaboration.
- Sanofi to subscribe to over 8 million new shares of Innate at €1.7974 per share.
- The capital increase aims to extend Innate's cash runway for further development of its pipeline.
Innate Pharma SA (IPH; IPHA) has disclosed Sanofi's strategic investment amounting to €14,999,998.59 in the company. This investment is through the subscription of 8,345,387 new ordinary shares at a price of €1.7974 per share. The transaction showcases Sanofi’s support for Innate's ongoing development efforts, particularly focusing on their BCMA targeting ANKET® program in autoimmune indications.
This capital infusion falls under the 22nd resolution approved during Innate's general shareholder meeting held on May 23, 2024. The closing of this capital increase is anticipated on April 25, 2025, with the new shares expected to commence trading on Euronext Paris on the same date. The financing will be directed towards general corporate purposes, helping to extend Innate's financial runway and support the continuation of its R&D pipeline.
Post-investment, Sanofi-Aventis Participations will hold 8,345,387 shares, translating to a 9.05% stake in Innate Pharma, marking a robust collaborative relationship aimed at boosting innovation in immunotherapy for cancer patients.
