2011 full year results: a year of momentum for Innate Pharma

• Collaboration and licence agreement signed with Bristol-Myers Squibb for lead program
• Strengthened position in the innate immunity field
• Total cash increased to €46.6 million from €34.6 million at the end of 2010

Innate Pharma SA (the “Company” - Euronext Paris: FR0010331421 – IPH), the innate immunity company developing first-in-class drugs for cancer and inflammatory diseases, reports today its consolidated financial results for the year ended December 31, 2011. The consolidated financial statements are attached to this press release.

The key elements of these results are as follows:

• Revenue and other income of 11.7 million euros (vs. 4.3 million euros in 2010), primarily from collaboration agreements and research tax credit;
• Operating expenses of 19.3 million euros (vs. 18.0 million euros in 2010), of which approximately 80% is in research and development;
• Net loss amounting to 7.0 million euros (vs. 13.7 million euros in 2010); and
• Cash, cash equivalents and current financial instruments of 46.6 million euros at December 31, 2011, with 6.8 million euros in debt. Based on its current programs, the Company estimates that it has sufficient cash to fund operation into mid-2015.