Innate Pharma Launches €22.5 Million Share Offering

Innate Pharma, based in Marseille, has announced a proposed offering of approximately €22.5 million in ordinary shares. The release outlines that the shares will be placed privately in the EU and the U.S., targeting qualified institutional buyers under specific securities regulations. The funds are intended to support clinical development of their lead asset IPH4502, among other corporate purposes.

The offering's pricing and final amount depend on market conditions and will be determined through an accelerated bookbuilding process. Stifel and BTIG are joint bookrunners. Notably, existing shareholder Bpifrance Participations S.A. has committed €3 million to the offering.

Innate has clarified that the proposed share issuance will not trigger a public prospectus requirement. The new shares will be listed on Euronext Paris, maintaining existing codes, with a contractual lock-up period of 90 days post-closing.