Innate Pharma (IPH) Investor update summary

Strategic and Portfolio Focus

• Announced a €30 million equity raise, priced at €1.70 per share, resulting in 18.76% dilution and net proceeds of €27.6 million, with closing expected August 18, 2026.

• Strategic partnership with Sobi includes €75 million upfront, up to €40 million in near-term milestones, and €465 million in additional regulatory and commercial milestones, plus double-digit royalties on future sales.

• Focused on advancing lacutamab (TELLOMAK-3), IPH4502, preclinical ADC portfolio, and monalizumab in collaboration with AstraZeneca.

• Organization reshaped for agile execution, leveraging in-house antibody discovery and ADC technologies.

• Cash runway extended through Q1 2028 with new funds and Sobi partnership proceeds.

Clinical Pipeline and Progress

• TELLOMAK-3 phase III study in cutaneous T-cell lymphoma initiated, advancing toward BLA filing for Sézary syndrome under FDA Breakthrough Therapy Designation.

• Lacutamab shows durable responses and favorable safety in Phase 2 for Sézary syndrome and mycosis fungoides, supporting accelerated approval.

• IPH4502 completed Phase 1 dose escalation with preliminary anti-tumor activity in post-PADCEV urothelial cancer, non-small cell lung cancer, and head and neck cancer; favorable safety profile observed.

• Preclinical ADC portfolio advancing with focus on bispecifics, enhanced internalization, and novel dual payloads.

• Monalizumab, co-developed with AstraZeneca, is in Phase 3 PACIFIC-9 trial for NSCLC, with enrollment completed and data expected H2 2026.

Financial and Operational Outlook

• Cash position of €25.4m as of March 31, 2026, with expected extension of cash runway through Q1 2028 upon closing of Sobi partnership and share offering.

• Proceeds prioritized for clinical development of IPH4502, advancement of preclinical ADC portfolio, and general corporate purposes.

• Continues to explore additional financing to support strategic priorities.

• All milestones, projected sales, and timelines are based on management's current expectations and subject to change.

• Offering anchored by European and US healthcare investors, with Bpifrance Participations S.A. committed to a €3 million order.