Marseille, France – (work wire) – Regulatory news:
Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) (“innate“or the”company”) today announced that it received 28.7 million euros In undiluted financing in the form of two loans from Société Générale and BNP Paribas.
The loans have an initial term of one year with an option to extend for five years. It is 90% guaranteed by the French state as part of the package of measures put in place by the French government to support businesses during the COVID-19 pandemic.
This additional funding provides the opportunity to strengthen our monetary position as well as our research and development activities in France. We thank our bank partners, Société Générale and BNP Paribas, for their support,” said Frederic Lombard, Senior Vice President and Chief Financial Officer of Innate Pharma.
About Inet Pharma:
Innate Pharma SA is a global biotechnology company focused on clinical stage oncology dedicated to improving treatment and clinical outcomes for patients through therapeutic antibodies that harness the immune system to fight cancer.
Innate Pharma’s extensive antibody pipeline includes several first-in-class clinical and preclinical candidates in cancers with high unmet medical needs.
Inet is a leader in the understanding of natural killer cell biology and has expanded its expertise in the tumor microenvironment and tumor antigens, as well as antibody engineering. This innovative approach has resulted in a diversified proprietary portfolio, key alliances with leaders in the biopharmaceutical industry including Bristol-Myers Squibb, Novo Nordisk A/S and Sanofi, and a multi-product collaboration with AstraZeneca.
Innate Pharma is headquartered in Marseille, France with a US office in Rockville, MD, and is listed on Euronext Paris and Nasdaq in the US.
Learn more about Innate Pharma at www.innate-pharma.com
Information about the shares of Innate Pharma:
Euronext: IPH Nasdaq: IPHA
Disclaimer regarding 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 “believes,” “likely,” “expect,” “will,” and similar expressions , is intended to identify forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, these forward-looking statements are subject to various risks and uncertainties, which could cause actual results to differ materially from those expected. These risks and uncertainties include, among other things, uncertainties inherent in research and development, including regarding safety, progress, and results from ongoing and planned clinical trials and preclinical studies, review and approvals by regulatory authorities for product candidates, the Company’s marketing efforts, and the continuing The Company’s ability to raise capital to fund its development and the overall impact of the COVID-19 outbreak on the global healthcare system as well as the Company’s business, financial condition and results of operations. For further discussion of risks and uncertainties that could cause the Company’s actual results, financial condition, performance or achievements to differ from those contained in forward-looking statements, please refer to the Risk Factors section (“Risk Factors”) in the Global Registration Document filed with the Capital Markets Authority French (“AMF”), available on the AMF website http://www.amf-france.org or on the Innate Pharma website, public files and reports filed with the US Securities and Exchange Commission (“SEC”), Including the Company’s annual report on Form 20-F for the year ended December 31, 2020, and subsequent reports and reports submitted to the AMF or SEC, or made public, by the Company.
This press release and the information contained in it do not constitute an offer to sell or a solicitation of an offer to purchase or subscribe for stock in Innate Pharma in any country.