Financial results for the first half of 2013

•    Stable financial results with maintenance of the cash horizon into mid-2015
•    Clinical and pre-clinical programs progressing on track
•    Strengthening of the Supervisory board and of the Scientific Advisory Board
•    New US-based fund among institutional shareholders
 

Innate Pharma SA (the “Company” - Euronext Paris: FR0010331421 – IPH), the innate immunity company developing first-in-class drugs for cancer and inflammatory diseases, announces today its financial results for the first half of 2013.
Hervé Brailly, CEO of Innate Pharma, said : “The exciting clinical data presented during the last ASCO further emphasized the potential of immunotherapy in cancer treatment, with a highlight this year on combinations of immunomodulating antibodies. Innate Pharma is one of the very few biotech companies positioned in this field. Innate is a pioneer in the discovery of novel agents such as lirilumab, licensed to BMS, now in Phase II trial, and one of the most advanced product candidate in immune-oncology.

We are also honored to welcome Prof Michael A. Caligiuri from Ohio State University to our Supervisory board, as well as Prof Ron Levy from Stanford University to our Scientific Advisory Board. Innate Pharma will benefit from their vision and broad experience at this turning point in the history of immune-oncology.”


Financial highlights of the first-half of 2013:

• Revenue and other income of 7.0 million euros for the six-month period ended June 30, 2013 (2012: 7.7 million euros) and operating expenses of 9.2 million euros (2012: 9.9 million euros). Stable operating loss of 2.2 millions euros;
• 24.7 million euros in cash and cash equivalents as at June 30, 2013, leading to a cash horizon of mid-2015.

Post period events:

• Review by the Data and Safety Monitoring Board of ongoing EffiKIR Phase II trial with lirilumab unanimously recommends continuation of trial without modification;
• New institutional shareholder (Boston-based Wellington Management Company) with declared holding greater than 5%;
• New shareholder in Platine Pharma Services.

A meeting for fund managers, financial analysts and journalists will be held today at 11:30 am (CET) at the SFAF premises in Paris 24, rue de Penthièvre, 75008