Innate Pharma jumps after license deal with Takeda

Innate Pharma SA

03/04/2023 08:28

** Shares in Innate Pharma  IPH.PA  jump as much as 17%,
after the French biopharmaceutical company announced an
exclusive license agreement with Takeda  4502.T  on antibody
drug conjugates (ADC) for celiac disease
    ** Takeda will be responsible for the future development,
manufacture and commercialization of any potential products
developed using Innate Pharma's licensed antibodies
    ** Innate Pharma will receive a $5 mln upfront payment and
is eligible to receive up to $410 mlm in future development,
regulatory and commercial milestones 
        ** The stock jumped 12% by 0727 GMT, on track for its
best day since December 29, when it closed 13.0% higher

 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))