Annual results 2014: stronger cash position and expanded clinical portfolio

• €50m capital increase in June subscribed by specialized investors

  • Cash horizon to the end of 2017

• Acquisition of IPH2201, anti-NKG2A antibody, and start of Phase II clinical development

• Expected in 2015:

  • Initial efficacy data with lirilumab

  • Roll out of Phase II clinical development plan with IPH2201

  • IPH4102 to start clinical trial

Innate Pharma SA (the “Company” - Euronext Paris: FR0010331421 – IPH), the innate immunity company developing first-in-class therapeutic antibodies for cancer and inflammatory diseases, reports today its consolidated financial results for the year ended December 31, 2014. The consolidated financial statements are attached to this press release.

Hervé Brailly, Chief Executive Officer of Innate Pharma, commented: “2014 has been a big year for Innate Pharma. We have strengthened and advanced our pipeline with the acquisition of IPH2201 and the start of the first Phase II trial with this novel checkpoint inhibitor. With our most advanced program, lirilumab, we have completed the enrolment of the Phase II AML trial EffiKIR and our partner Bristol-Myers Squibb has expanded its clinical program to hematologic malignancies. Lastly, IPH4102 has received orphan drug designation in Europe and is on track to start a Phase I clinical trial in 2015.

From the corporate perspective, we have raised €50m to finance the Phase II program of IPH2201 and therefore maintain a comfortable cash horizon to the end of 2017. We have reinforced our team, notably in the clinical organization with Pierre Dodion joining us as CMO in September, and our staff count increased from 84 to 99.

2015 will be a key year with initial read-out of lirilumab clinical trials, roll-out of IPH2201 Phase II trials and the start of clinical trials with IPH4102”.