Innate Pharma jumps on new licensing to Sanofi

Innate Pharma SA

19/12/2023 08:41

** Shares in Innate Pharma  IPH.PA  are up 8.3% after it
announced licensing of a fourth natural killer (NK) cell engager
in oncology to Sanofi  SASY.PA 
    ** The oncology-focused biotech company says Sanofi has
exercised its option to license a NK cell engager program in
solid tumours from Innate's ANKET platform
    ** Innate Pharma will receive a 15 million euro ($16.4
million) payment for the exercise of this option
    ** "Once again Innate capitalizes on its R&D know-how to
generate licensing revenues, Sanofi is seen as a partner from
now on," says Portzamparc in a note
    ** Including Tuesday's gain, the Innate Pharma stock is down
21.6% YTD

($1 = 0.9147 euros)

 (Reporting Clement Martinot)
 ((Clement.martinot@tr.com))