Cash, cash equivalents and financial assets* for the Company amounted to €243.6m (million euros) as of June 30, 2016
Company is building foundations to become a commercial stage biopharmaceutical company, with retained co-development and commercialization rights to monalizumab and full rights to IPH4102
Continues to invest in proprietary clinical and preclinical pipeline to position Innate Pharma for a more mature phase
Continued progress with key clinical trials:
First data for all three clinical programs expected before the end of 2016, including for lirilumab
Fifth clinical trial of monalizumab program initiated; conducted by AstraZeneca, this trial is testing monalizumab in combination with durvalumab in solid tumors
Research collaboration and licensing agreement with Sanofi on bispecific antibodies and exclusive licensing agreement with OREGA Biotech strengthen a key line-up of partnerships
Innate Pharma SA (the “Company” - Euronext Paris: FR0010331421 – IPH) today reports its consolidated financial results for the first half of 2016. The summary of the condensed half-year consolidated financial statements are attached to this press release.
During the period, Innate Pharma has made progress across its portfolio of innovative immunotherapies designed to harness the innate immune system, both in the three first-in-class antibodies in clinical trials and in preclinical programs.
The clinical program of lirilumab, Innate Pharma’s most advanced candidate, continued to progress well, with key data expected later in 2016.
The fifth clinical trial in the initial development program with monalizumab was initiated by the Company’s partner AstraZeneca, testing monalizumab in combination with durvalumab (anti-PD-L1) in solid tumors.
At the American Association of Cancer Research (AACR) Annual Meeting in New Orleans, USA, the Company’s scientists presented data supporting the rationale of four of Innate’s clinical and preclinical programs, including the rationale for combination treatment with monalizumab and an anti-PD-1/PD-L1, and for IPH4301, its first-in-class anti-MICA/B humanized antibody. Two new programs targeting the tumor microenvironment were also presented.
Earlier in 2016, the Company signed a research collaboration and licensing agreement with Sanofi to apply Innate Pharma’s new proprietary technology to the development of innovative bispecific antibody formats engaging natural killer (NK) cells to kill tumor cells. Innate Pharma and OREGA Biotech announced that they entered into an exclusive licensing agreement granting Innate Pharma full worldwide rights to OREGA Biotech’s first-in-class anti-CD39 checkpoint inhibitors.
Hervé Brailly, Chief Executive Officer of Innate Pharma, commented: “Innate Pharma has made great progress in clinical development and research across the portfolio in the first half of the year. We have a solid cash position and look forward to the several near-to-medium term value inflection points”. He added: “With retained co-development and commercialization rights to monalizumab as part of the landmark agreement with AstraZeneca, full rights to IPH4102 and continued investment in the proprietary pipeline, Innate is building the foundations to become a commercial stage biopharmaceutical company.”
* Including current and non-current financial assets