(BFM Bourse) – This agreement provides for an initial payment of $5 million and a potential amount of $410 million.
Innate Pharma convinces a new tenor in the pharmaceutical industry. The Marseille biotech specializing in immuno-oncology announced Monday morning a new licensing agreement, this time with the Japanese Takeda, a juggernaut whose market capitalization is close to 50 billion dollars.
Innate Pharma thus grants the Japanese company exclusive worldwide rights for the research and development of conjugated antibodies (“Antibody Drug Conjugates” – ADC), which are mainly used to treat celiac disease, an intolerance to gluten. This disease causes disorders of the small intestine, such as inflammation of the intestinal lining, and affects around 1% of the European population, according to the French National Society of Gastroenterology.
Takeda will be responsible for the development, manufacturing and commercialization of potential products developed using the licensed antibodies, Innate Pharma said in a statement.
Up to 410 million euros in payments
“We are pleased to collaborate with Takeda, whose experience in the development of new drugs in multiple therapeutic areas is recognized. This agreement extends the application of Innate’s science beyond our focus in oncology and illustrates how our antibody engineering expertise can play a major role in the development of antibody conjugates (ADCs),” said Yannis Morel, executive vice president, product strategy & business development at Innate Pharma, quoted in the press release.
The terms of the licensing agreement provide for an upfront payment of $5 million to Innate Pharma. The Marseille group will be able to receive a maximum potential total amount of $410 million if all milestones are reached during the term of the agreement, as well as royalties on potential net sales of any commercial products resulting from the license.
On the Paris Stock Exchange, the Innate Pharma share recorded a clear boost thanks to this partnership, winning 14.75% to 3.08 euros.
The group had already experienced comparable progress in December following the extension of its partnership with Sanofi relating to “natural killer” cells in oncology, lymphocytes capable of killing infected or cancerous cells.
In addition to Sanofi and Takeda, Innate Pharma has forged alliances with leading biopharma companies such as Bristol-Myers Squibb, Novo Nordisk as well as a multi-product partnership with AstraZeneca. In particular, the latter acquired, in 2018, all the rights to its most advanced product, monalizumab, in oncology.
Julien Marion – ©2023 BFM Bourse
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