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Friday, January 27, 2023

Innate Pharma (NASDAQ: IPHA) Secures €28.7m in Non-Dilutive Financing

Innate Pharma S.A. (NASDAQ: IPHA) disclosed that it has secured €28.7M in non-dilutive financing in the form of two loans from Société Générale and BNP Paribas. The company revealed that this additional financing offers an opportunity to the company to further reinforce its cash position as well as its R&D activities in France.

Furthermore, the company confirmed that the two loans have an initial term of one year with a five-year extension option. They are 90% assured by the French state as part of the package of measures put in place by the French government to help the companies during the COVID-19 pandemic.

Previously, Innate Pharma disclosed that it has decided to participate in upcoming investor conferences. The ODDO BHF Digital Forum’s scheduled date is January 6, 2022.  H.C. Wainwright BIOCONNECT Virtual Conference will be held on January 10, 2022, and the Innate Pharma Virtual Corporate Access Event will be held on January 10-13, 2022.

Innate Pharma S.A. has earned a reputation as a global, clinical-stage oncology-focused biotech company committed to enhancing treatment and clinical outcomes for patients through therapeutic antibodies that utilize the immune system to fight cancer. The vast pipeline antibodies of Innate Pharma includes several possibly first-in-class clinical and preclinical candidates in cancers with high unfulfilled medical needs.

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