Innate Pharma's Q1 2025: Navigating Contradictions in Lacutamab Development and Strategic Partnerships

Strategic partnerships and financing for lacutamab, Nectin-4 ADC program strategy and timeline, lacutamab development strategy and accelerated approval pathway, and lacutamab development strategy are the key contradictions discussed in Innate Pharma's latest 2025Q1 earnings call.



Strategic Investment and Pipeline Advancement:
- Innate Pharma received a €50 million strategic equity investment from Sanofi, increasing Sanofi's shareholding to 9%.
- This investment reflects Sanofi's confidence in Innate's ANKET and ADC platforms, and supports the development of products in both areas.
- As a result of this investment, Sanofi will return rights to the CD123 targeting ANKET, IPH6101, to Innate Pharma by July 1, 2025.

Innate Pharma's Pipeline Growth:
- Innate Pharma has eight innovative assets currently in the clinic, with four proprietary and four partnered assets.
- Notable assets include IPH65 for B-cell lymphomas, IPH6101 for AML, IPH6401 for autoimmune diseases, and IPH45 targeting Nectin-4 expressing solid tumors.
- The company continues to advance its pipeline with a focus on clinical updates and partnership discussions.

Clinical Progress and Regulatory Milestones:
- Lacutamab, a proprietary asset for CTCL and PTCL, received FDA breakthrough therapy designation for Sezary syndrome patients.
- This designation, along with FDA fast track and EMA prime designations, supports the development of lacutamab as a potential treatment for rare and challenging cancers.
- Long-term follow-up data for lacutamab will be presented at ASCO, showcasing the product's potential to make a significant impact on patients' lives.

Funding and Financial Visibility:
- Innate Pharma has a cash position of €72.5 million as of the end of March, excluding the €15 million received from Sanofi's equity investment.
- The company is focusing resources on key assets like IPH6501 and IPH4502 to reach the next decision points, aiming to secure further funding through partnerships or investment raises.
- The current cash runway does not include the Phase 3 confirmatory study for lacutamab, and the company is exploring partnership options to fund this study.