Innate Pharma Secures €30 Million to Advance Drug Programs

Innate Pharma raised €30 million in equity financing to advance its lacutamab (IPH4502) and preclinical antibody-drug conjugate programs. This funding, combined with an expected €75 million upfront payment from a partnership with Sobi, is projected to extend the company's cash runway into the first quarter of 2028, pending antitrust clearance and other closing conditions.

The partnership with Sobi will support the Phase III TELLOMAK-3 trial of lacutamab for cutaneous T-cell lymphoma, which has already received FDA clearance. Under the terms of the agreement, Innate Pharma may receive up to €40 million in near-term milestones and up to €465 million in further regulatory and commercial milestones, in addition to tiered double-digit royalties. Sobi will assume global commercialization of lacutamab following accelerated approval.

In other developments, the company has completed enrollment for its Phase I IPH4502 ADC trial. Innate Pharma also expects to receive primary-endpoint data from the PACIFIC-9 trial of monalizumab by the end of the year.