Innate Pharma, Sanofi Finalize Investment

MT Newswires Live

04/24

Innate Pharma (IPHA) said Thursday that Sanofi (SNY) has agreed to subscribe to about 8.3 million shares of Innate at a price of 1.7974 euros ($2.05) per share for a capital increase of about 15 million euros.

The investment will be used for general corporate purposes, including extending the biotech firm's cash runway, said Innate Chief Executive Jonathan Dickinson.

The deal is expected to close on Friday, the company said.

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