Innate Pharma, a clinical-stage biotechnology company specializing in immuno-oncology and dedicated to improving cancer treatment through innovative therapeutic antibodies exploiting the immune system, whose shares are listed on Euronext Paris and NASDAQ, has successfully completed a capital increase reserved to the Institute for Follicular Lymphoma Innovation (IFLI).
This capital increase is part of an agreement between Innate Pharma and the IFLI to clinically study the potential of IPH6501, Innate Pharma's anti-CD20 ANKET® in follicular lymphoma (FL), pursuant to which IFLI has invested 3m USD in new shares Innate Pharma.
The 1,832,899 new ordinary shares, fungible with Innate Pharma's ordinary shares and admitted to trading on Euronext Paris on the same listing line as the existing ordinary shares, were issued on 9 December 2024 at a price of €1.56 per new share (i.e. €0.05 par value and €1.51 issue premium), corresponding to the arithmetic average of the daily volume-weighted averages (in the central order book and excluding off-market block trades) of the Innate Pharma's share price on Euronext Paris over the last full thirty trading days prior to the setting of the issue price.
IFLI may also invest up to an additional 4.9m USD into new shares of Innate Pharma, depending on the completion of certain milestones, at a price to be determined at the time of the said investments.
For this transaction, Innate Pharma was advised by CMS Francis Lefebvre, for capital markets matters, McDermott Will & Emery LLP, for corporate and partnership matters, and Jones Day, for US law matters. The CMS Francis Lefebvre team comprised Bertrand Sénéchal, partner, and Pierre Maunand, associate.
IFLI was advised by Marshall, Gerstein & Borun LLP.
