Innate Pharma (IPH) Investor update summary

Strategic agenda and financing update

• Announced a €30 million equity raise to support key pipeline programs and strategic priorities.

• 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.

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

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

Offering details

• Priced €30 million offering of 17,647,059 new ordinary shares at €1.70 per share, reflecting a 15% discount to the recent volume weighted average price.

• Net proceeds of €27.6 million after estimated expenses, with closing expected on August 18, 2026.

• Shares issued via capital increase without pre-emptive rights, admitted to trading on Euronext Paris under the same ISIN.

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

• Board members and executives, except Bpifrance, subject to a 90-day lock-up period post-closing.

Pipeline progress and clinical updates

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

• IPH4502 dose escalation study completed with 76 patients; preliminary activity seen in post-PADCEV urothelial cancer, non-small cell lung cancer, and head and neck cancer.

• Favorable safety profile observed for IPH4502, supporting further development; data to be presented at a medical conference before year-end.

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