Funding strengthens the company’s cash flow horizon
MARSEILLE, France, January 05, 2022– (BUSINESS WIRE) – Regulatory news:
Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) (“Innate“or the”Society“) announced today that it has obtained € 28.7 million in non-dilutive financing in the form of two loans from Société Générale and BNP Paribas.
Both loans have an initial term of one year with an option to extend for five years. They are 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 is the opportunity to further strengthen our cash flow as well as our research and development activities in France. We would like to thank our banking partners, Société Générale and BNP Paribas, for their support. said Frédéric Lombard, Senior Vice-President and Chief Financial Officer of Innate Pharma.
About Innate Pharma:
Innate Pharma SA is a global clinical-stage oncology-focused biotechnology company dedicated to improving treatments and clinical outcomes for patients through therapeutic antibodies that harness the immune system to fight cancer.
Innate Pharma’s large antibody portfolio includes several potentially first-in-class clinical and preclinical candidates in cancers with high unmet medical need.
Innate is a pioneer in understanding the biology of natural killer cells and has extended its expertise in the tumor microenvironment and tumor antigens, as well as in antibody engineering. This innovative approach has resulted in a diverse proprietary portfolio and major alliances with leaders in the biopharmaceutical industry, including Bristol-Myers Squibb, Novo Nordisk A / S, Sanofi, and a multi-product collaboration with AstraZeneca.
Based in Marseille, France with a US office in Rockville, MD, Innate Pharma is listed on Euronext Paris and Nasdaq in the United States.
Find out more about Innate Pharma on www.innate-pharma.com
Information on Innate Pharma shares:
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 “believe”, “potential”, “expect” and “will be” And similar phrases, 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 others, uncertainties inherent in research and development, including related to the safety, progress and results of its ongoing and planned clinical and preclinical trials, review and approvals by the regulatory authorities of its product candidates, the Company’s marketing efforts, the Company’s continued ability to raise capital to finance its development, and the overall impact of the COVID-19 epidemic on the global health system as well as the business, financial condition and results of operations of the Company. For further discussion of the risks and uncertainties that could cause the actual results, financial condition, performance or achievements of the company to differ from those contained in forward-looking statements, please refer to the Risk Factors section. (“Risk factors”) of the Universal Registration Document filed with the Autorité des marchés financiers (“AMF”), available on the AMF website http://www.amf-france.org or on Innate Pharma’s website, and public filings and statements filed with the US Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 20-F for the fiscal year ended 31 December 2020, and subsequent filings and reports filed with the AMF or the SEC, or otherwise made public, by the Company.
This press release and the information it contains do not constitute an offer to sell or a solicitation of an offer to purchase or subscribe for Innate Pharma shares in any country whatsoever.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220104005828/en/
For more information, please contact:
Phone. : +33 761 88 38 74
Tracy Rossin (World / United States)
Phone. : +1 240 801 0076
Marie Puvieux (France)
Phone. : +33 (0) 9 81 87 46 72