- Exclusive worldwide rights granted to Takeda to research and
develop antibody drug conjugates (ADC) using a panel of selected
Innate antibodies; Innate to receive $5m upfront payment and
eligible to up to $410m in future milestones plus
royalties
- ANKET® assets in collaboration with Sanofi continue to
progress; abstract for IPH6101/SAR’579 selected for oral
presentation at ASCO 2023 annual meeting
- Cash position of €135.0 million1 as of March 31, 2023 (not
including the $5 million payment from Takeda), anticipated cash
runway into mid 2025
- Conference call to be held today at 2:00 p.m. CEST / 8:00
a.m. EDT
Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA)
(“Innate” or the “Company”) today reported its
consolidated financial results for the quarter ending March 31,
2023.
“Our strong cash position was further bolstered during the first
quarter of 2023 as we signed a license agreement with Takeda for
antibody drug conjugates (ADC) using a panel of selected Innate
antibodies, with a primary focus in Celiac disease. This agreement
demonstrates our ability to expand the application of Innate’s
science beyond our oncology focus and leverage partnership to value
our assets. We also continue to see good progress for our ANKET®
assets with our partner Sanofi presenting preclinical data at key
medical congresses supporting the development of ongoing product
candidates,” said Mondher Mahjoubi, Chief Executive Officer of
Innate Pharma. “We remain committed to using our scientific
expertise and strong partnerships to deliver innovative treatments
for patients with cancer. We are looking forward to seeing Sanofi’s
oral presentation with IPH6101/SAR’579 at the ASCO 2023 annual
meeting along with two AstraZeneca Trial in progress posters for
monalizumab. We progress towards important inflections points as we
hit key milestones in H2 2023, including final readouts from the
TELLOMAK Phase 2 trial with our lead proprietary program lacutamab
and further updates for our ANKET® assets.”
Webcast and conference call
will be held today at 2:00pm CEST (8:00am EDT)
The live webcast will be
available at the following link:
https://events.q4inc.com/attendee/824692547
Participants may also join via
telephone using the following registration link:
https://registrations.events/direct/Q4E61301
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.
1 Including short term investments (€17.1
million) and non-current financial instruments (€35.6 million).
Pipeline highlights:
Lacutamab (IPH4102, anti-KIR3DL2
antibody):
- Final MF and SS data expected in H2 2023. Innate continues to
see progress for lacutamab with final data from the TELLOMAK Phase
2 trial for both mycosis fungoides (MF) and Sézary syndrome (SS)
expected in H2 2023.
- Initial PTCL data are expected in H2 2023. Two parallel
clinical trials to study lacutamab in patients with
KIR3DL2-expressing, relapsed/refractory peripheral T-cell lymphoma
(PTCL) are ongoing.
ANKET® (Antibody-based NK cell Engager
Therapeutics):
ANKET® is Innate’s proprietary platform for developing
next-generation, multi-specific NK cell engagers to treat certain
types of cancer. Innate’s pipeline includes four public drug
candidates born from the ANKET® platform: IPH6101 (CD123-targeted),
IPH6401 (BCMA-targeted), IPH62 (B7-H3-targeted) and tetra-specific
IPH6501 (CD20-targeted). Several other undisclosed proprietary
preclinical targets are being explored.
IPH6101, IPH6401 and IPH62 (partnered with Sanofi)
- The Phase 1/2 clinical trial by Sanofi is progressing well,
evaluating IPH6101/SAR’579, the first NKp46/CD16-based
CD123-targeted ANKET® platform NK cell engager, in patients with
relapsed or refractory acute myeloid leukemia (AML), B-cell acute
lymphoblastic leukemia or high-risk myelodysplastic syndrome.
- Preclinical data showing the control of AML cells by a
trifunctional NKp46-CD16a-NK cell engager targeting CD123 were
published in Nature Biotechnology in January 2023.
- An abstract entitled “A first-in-human study of CD123 NK cell
engager SAR443579 in relapsed or refractory acute myeloid leukemia,
B-cell acute lymphoblastic leukemia, or high-risk myelodysplasia”
has been selected for oral presentation at the American Society for
Clinical Oncology (ASCO) 2023 Annual Meeting, taking place June
2-6, 2023 in Chicago, IL.
- Partner Sanofi continues to progress IPH6401/SAR’514, a
BCMA-targeting NK cell engager into investigational new drug
(IND)-enabling studies.
- Sanofi presented preclinical data showing IPH6401/SAR’514 has
potent in-vitro, in-vivo and ex-vivo anti-myeloma effect through
dual NK cell engagement in a poster at the American Association for
Cancer Research (AACR) 2023 in April.
- As announced on December 19, 2022, Sanofi also licensed IPH62,
a NK cell engager program targeting B7-H3 from Innate’s ANKET®
platform. Sanofi also have the option to add up to two additional
ANKET® targets. Upon candidate selection, Sanofi will be
responsible for all development, manufacturing and
commercialization. Under the terms of the agreement, Innate
received a €25m upfront payment and is eligible for up to €1.35bn
total in preclinical, clinical, regulatory and commercial
milestones plus royalties on potential net sales.
IPH6501 (proprietary)
- IPH6501 continues toward a Phase 1 clinical trial in 2023 for
the proprietary CD20 targeted tetra-specific ANKET®.
Monalizumab (anti-NKG2A antibody),
partnered with AstraZeneca:
- Innate continues to see progress for monalizumab in the early
non-small cell lung cancer (NSCLC) setting, with the ongoing Phase
3 PACIFIC-9 study run by AstraZeneca. The study is evaluating
durvalumab (anti-PD-L1) in combination with monalizumab or
AstraZeneca’s oleclumab (anti-CD73) in patients with unresectable,
Stage III NSCLC who have not progressed following definitive
platinum-based concurrent chemoradiation therapy (CRT).
- Two monalizumab abstracts have been accepted for “Trial in
progress” posters at the American Society for Clinical Oncology
(ASCO) 2023 Annual Meeting, taking place June 2-6, 2023 in Chicago,
IL:
- Phase 3 study of durvalumab combined with oleclumab or
monalizumab in patients with unresectable stage III NSCLC
(PACIFIC-9).
- NeoCOAST-2: A Phase 2 study of neoadjuvant durvalumab plus
novel immunotherapies (IO) and chemotherapy (CT) or MEDI5752
(volrustomig) plus CT, followed by surgery and adjuvant durvalumab
plus novel IO or volrustomig alone in patients with resectable
non-small-cell lung cancer (NSCLC).
IPH5201 (anti-CD39), partnered with
AstraZeneca:
- The MATISSE Phase 2 clinical trial conducted by Innate in
neoadjuvant lung cancer for IPH5201, an anti-CD39 blocking
monoclonal antibody developed in collaboration with AstraZeneca,
has started and is awaiting first patient dosed.
IPH5301 (anti-CD73):
- The investigator-sponsored CHANCES Phase 1 trial of IPH5301, in
collaboration with Institut Paoli-Calmettes is ongoing.
Preclinical assets:
- In April 2023, Innate announced that it has entered into an
exclusive license agreement with Takeda under which Innate grants
Takeda exclusive worldwide rights to research and develop antibody
drug conjugates (ADC) using a panel of selected Innate antibodies
against an undisclosed target, with a primary focus in Celiac
disease. Under the terms of the license agreement, Innate is due to
receive a $5m upfront payment and is eligible to receive up to
$410m in future development, regulatory and commercial milestones
if all milestones are achieved during the term of the agreement,
plus royalties on potential net sales of any commercial product
resulting from the license.
- Fueling its R&D engine, the Company continues to develop
different approaches for the treatment of cancer utilizing its
antibody engineering capabilities to deliver novel assets, with its
innovative ANKET® platform and continuing to explore Antibody Drug
Conjugates (ADC) formats.
Corporate update
- As a post period event, on April 26, Innate announced the
establishment of a new At-The-Market (ATM) program, pursuant to
which it may, from time to time, offer and sell to eligible
investors a total gross amount of up to $75 million American
Depositary Shares (“ADS”). Each ADS representing one ordinary share
of Innate.
Financial Results:
Cash, cash equivalents and financial assets of the Company
amounted to €135.0 million as of March 31, 2023. At the same date,
financial liabilities amounted to €41.1 million. Cash, cash
equivalents and financial assets as of March 31, 2023 do not
include the $5.0 million payment to be received from Takeda.
Revenues for the first three months of 2023 amounted to €26.0
million (€2.6 million for the same period in 2022). For the
three-month period, ended March 31, 2023, revenue from
collaboration and licensing agreements mainly results from the
partial or entire recognition of the proceeds received pursuant to
the agreements with AstraZeneca, Sanofi and Takeda.
About Innate Pharma
Innate Pharma S.A. is a global, clinical-stage biotechnology
company developing immunotherapies for cancer patients. Its
innovative approach aims to harness the innate immune system
through therapeutic antibodies and its ANKET®
(Antibody-based NK cell Engager
Therapeutics) proprietary platform.
Innate’s portfolio includes lead proprietary program lacutamab,
developed in advanced form of cutaneous T cell lymphomas and
peripheral T cell lymphomas, monalizumab developed with AstraZeneca
in non-small cell lung cancer, as well as ANKET® multi-specific NK
cell engagers to address multiple tumor types.
Innate Pharma is a trusted partner to biopharmaceutical
companies such as Sanofi and AstraZeneca, as well as leading
research institutions, to accelerate innovation, research and
development for the benefit of patients.
Headquartered in Marseille, France with a US office in
Rockville, MD, Innate Pharma is listed on Euronext Paris and Nasdaq
in the US.
Learn more about Innate Pharma at www.innate-pharma.com and
follow us on Twitter and LinkedIn.
Information about Innate Pharma shares
ISIN code
FR0010331421
Ticker code
Euronext: IPH Nasdaq: IPHA
LEI
9695002Y8420ZB8HJE29
Disclaimer on forward-looking information and risk
factors
This press release contains certain forward-looking statements,
including those within the meaning of the Private Securities
Litigation Reform Act of 1995. The use of certain words, including
“believe,” “potential,” “expect” and “will” and similar
expressions, is intended to identify forward-looking statements.
Although the company believes its expectations are based on
reasonable assumptions, these forward-looking statements are
subject to numerous risks and uncertainties, which could cause
actual results to differ materially from those anticipated. These
risks and uncertainties include, among other things, the
uncertainties inherent in research and development, including
related to safety, progression of and results from its ongoing and
planned clinical trials and preclinical studies, review and
approvals by regulatory authorities of its product candidates, the
Company’s commercialization efforts and the Company’s continued
ability to raise capital to fund its development. For an additional
discussion of risks and uncertainties which could cause the
company's actual results, financial condition, performance or
achievements to differ from those contained in the forward-looking
statements, please refer to the Risk Factors (“Facteurs de Risque")
section of the Universal Registration Document filed with the
French Financial Markets Authority (“AMF”), which is available on
the AMF website http://www.amf-france.org or on Innate Pharma’s
website, and public filings and reports filed with the U.S.
Securities and Exchange Commission (“SEC”), including the Company’s
Annual Report on Form 20-F for the year ended December 31, 2022,
and subsequent filings and reports filed with the AMF or SEC, or
otherwise made public, by the Company.
This press release and the information contained herein do not
constitute an offer to sell or a solicitation of an offer to buy or
subscribe to shares in Innate Pharma in any country.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230509006263/en/
Investors Innate
Pharma Henry Wheeler Tel.: +33 (0)4 84 90 32 88
Henry.wheeler@innate-pharma.fr Media
Relations NewCap Arthur Rouillé Tel.: +33 (0)1 44
71 00 15 innate@newcap.eu
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