-- New strategic partnership with Sobi to advance lacutamab is effective,
with a $75 million upfront payment; TELLOMAK-3 phase 3 initiated with FPI
expected in Q1 2027
-- EUR30 million equity financing completed to primarily support IPH4502
and preclinical ADC portfolio
-- IPH4502 Phase 1 dose escalation and cohort enrichment enrollment
completed, with initial data to be presented at ENA 2026
-- PACIFIC-9 Phase 3 readout for monalizumab, led by AstraZeneca, expected
in H2 2026
-- Cash position of EUR21.4 million1 as of June 30, 2026
-- Anticipated cash horizon until the end of Q1 2028, taking into account
the initial payment of $75 million expected from the completion of the
transaction with Sobi and the proceeds from the EUR30 million capital
increase
-- Conference call to be held today at 2:00 p.m. CEST / 8:00 a.m. ET
MARSEILLE, France--(BUSINESS WIRE)--September 17, 2026--
Regulatory News:
Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) ("Innate" or the "Company") today reported its consolidated financial results for the six months ended June 30, 2026. The consolidated financial statements are attached to this press release.
"2026 continues to be an important year of execution for Innate, marked by our strategic partnership with Sobi and the strengthening of our financial position," said Jonathan Dickinson, CEO of Innate Pharma. "With the TELLOMAK-3 Phase 3 study initiated, we are targeting the first patient in the study in Q1 2027 as we work toward a filing for accelerated approval in Sézary syndrome. Looking ahead, we will present Phase 1 data from IPH4502 at ENA 2026 and expect the PACIFIC-9 Phase 3 readout for monalizumab by year-end, as we remain focused on delivering value for patients and shareholders."
_________________
(1) Including short term investments (EUR4.4 million) and non-current
financial instruments (EUR10.5 million)
Webcast and conference call will be held today at 2:00pm CEST (8:00am ET)
Access to live webcast: Click here to access the live webcast Participants may
also join via telephone using the registration link below: Click here to
register This information can also be found on the Investors section of the
Innate Pharma website, www.innate-pharma.com. A replay of the webcast will be
available on the Company website for 90 days following the event.
------------------------------------------------------------------------------
Pipeline highlights:
Lacutamab (anti-KIR3DL2 antibody), partnered with Sobi:
Cutaneous T-Cell Lymphoma
-- In August 2026, Innate Pharma entered into a strategic partnership with
Sobi to license lacutamab in T-cell lymphoma (Link PR). The partnership
is intended to enable initiation of the TELLOMAK-3 confirmatory Phase 3
study in cutaneous T-cell lymphoma (CTCL), a key step toward filing for
accelerated approval of lacutamab in Sézary syndrome, a subtype of
CTCL.
-- On September 16, Innate Pharma announced closing of the transaction
under the partnership agreement, following expiration of the anti-trust
waiting periods and completion of other conditions (Link PR). This
triggers a USD 75 million upfront payment and marks the initiation of the
TELLOMAK-3 confirmatory Phase 3 study, with first patient expected in Q1
2027.
-- Under the agreement, Innate is conducting the TELLOMAK-3 Phase 3
confirmatory trial in cutaneous T-cell lymphoma. The TELLOMAK-3 study
will subsequently support applications for full approvals in key
jurisdictions in Sézary syndrome and mycosis fungoides, the most
common subtype. Sobi will receive exclusive global rights to
commercialize lacutamab upon potential accelerated approval and will be
eligible to assume full global development rights following positive
Phase 3 results.
-- Under the terms of the agreement, Sobi will pay Innate Pharma USD 75
million, payable on closing. Innate will be eligible to receive up to a
further USD 40 million in respect of near-term development milestones
connected to Sézary syndrome. Additionally, Innate will be eligible
to receive up to USD 465 million related to the option for Sobi to get
full development rights and to future regulatory and commercial
milestones. Innate will be eligible to receive tiered double-digit
royalties on net sales.
-- In February 2025, the FDA granted Breakthrough Therapy Designation to
lacutamab for relapsed or refractory Sézary syndrome based on
TELLOMAK Phase 2 results demonstrating encouraging efficacy and a
favorable safety profile in patients with Sézary syndrome, heavily
pretreated, post-mogamulizumab. Breakthrough Therapy Designation is
intended to accelerate the development and regulatory review in the U.S.
of drugs that are intended to treat a serious condition and that have
shown encouraging early clinical results, which may demonstrate
substantial improvement on a clinically significant endpoint over
available medicines. Lacutamab has also received Fast Track designation
from the FDA, PRIME designation from the EMA and orphan drug status in
both the United States and Europe.
Peripheral T-Cell Lymphoma (PTCL)
-- The investigator-sponsored Phase 2 KILT (anti-KIR in T-Cell Lymphoma)
trial, led by the Lymphoma Study Association (LYSA), evaluating lacutamab
in combination with GEMOX (gemcitabine and oxaliplatin) versus GEMOX
alone in patients with KIR3DL2-expressing relapsed/refractory PTCL has
ended recruitment.
IPH4502 (Nectin-4 exatecan ADC):
-- In July 2026, Innate announced completion of dose-escalation and
backfill enrollment in the ongoing Phase 1 study of IPH4502, with 76
patients enrolled across multiple tumor types known to express Nectin-4.
-- Preliminary anti-tumor activity has been observed in heavily
pre-treated patients, including objective responses in urothelial cancer
following prior enfortumab vedotin, as well as in NSCLC and HNSCC. A
favorable safety profile has been observed to date, with limited
hematological toxicity.
-- Initial Phase 1 dose-escalation data will be presented at the 38th
EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics
(ENA 2026) on November 18, 2026.
Monalizumab (anti-NKG2A antibody), developed in collaboration with AstraZeneca:
-- PACIFIC-9 is an AstraZeneca-sponsored Phase 3 study evaluating
durvalumab in combination with monalizumab or oleclumab in patients with
unresectable Stage III NSCLC who have not progressed following
platinum-based chemoradiation therapy $(CRT)$. Enrollment in the trial is
complete, and data readout is expected in H2 2026.
-- The Phase 3 program is supported by clinical findings from the Phase 2
COAST study, in which the combination of durvalumab and monalizumab
suggested prolonged progression-free survival compared with durvalumab
alone.
IPH5201 (anti-CD39 antibody, developed in collaboration with AstraZeneca):
-- The Phase 2 MATISSE study evaluating IPH5201 in combination with
durvalumab and platinum-based chemotherapy in resectable NSCLC is
ongoing. Encouraging results from a pre-planned interim analysis
presented at AACR 2026 showed an overall pathological complete response
rate of 27.5%, with higher response rates observed in patients with
PD-L1-positive tumors.
-- Following the interim analysis, MATISSE continues enrollment in the
PD-L1 >=1% patient population.
Preclinical ADC pipeline
-- For its preclinical ADC portfolio, Innate is leveraging its proprietary
linker technology, in clinical development through IPH4502. Innate's
next-generation ADC approaches include bispecific ADCs designed to
address tumor antigen heterogeneity, approaches aimed at enhancing
internalization to unlock activity in tumors with low target expression,
and dual-payload approaches intended to overcome payload resistance.
Post period events and Corporate Update:
-- In August 2026, Innate Pharma announced the appointment of Markus
Jensen, 57, as Chief Medical Officer and member of the Executive
Leadership Team, effective September 1, 2026. He succeeds Sonia Quaratino
and oversees the Company's clinical development activities as Innate
prepares to advance lacutamab into Phase 3 and continues development of
IPH4502. Markus Jensen joined Innate Pharma in 2024 as head of clinical
pharmacology and has served as global clinical lead for Company key
programs, including IPH4502. He brings more than 25 years of experience
spanning clinical medicine, academic research and the pharmaceutical
industry. Prior to joining Innate, he held leadership positions at Bayer
for more than 16 years, with a particular focus on oncology and clinical
development. He holds a medical degree from the University of Cologne and
is double board certified by Ärztekammer Nordrhein in Internal
Medicine and Clinical Pharmacology.
-- On August 18, 2026, Innate completed a capital increase without
preferential subscription consisting of a private placement of 17,647,059
new ordinary shares of the Company for aggregate gross proceeds to the
Company of an approximately EUR30 million. Together with the $75 million
upfront payment, the proceeds of the private placement are expected to
extend the Company's projected cash runway through end of Q1 2028.
-- As of June 30, 2026, the balance available under our April 2023 sales
agreement under the At-The-Market program remains at $75 million.
Financials highlights for the first half of 2026: