Innate Pharma acquires of the Anti-C5aR antibody from Novo Nordisk A/S
Innate Pharma ha acquired the Anti-C5aR antibody from Novo Nordisk A/S, who are being advised by Baker McKenzie.
According to the terms of the agreement, Novo Nordisk A/S grants Innate Pharma full exclusive rights to develop and commercialise the anti-C5aR antibody (which becomes the IPH5401 programme). Currently at the clinical stage, this ‘first-in-class” antibody represents a novel therapeutic approach in immuno-oncology.
Thanks to this operation, Innate Pharma has strengthened its portfolio of clinical-stage proprietary antibodies, with IPH5401 representing a strategic addition to the immune-oncology portfolio. It consolidates Innate Pharma’s position in the field of antibodies targeting the tumour microenvironment beyond its developments in the adenosine pathway. The launch of clinical trials with IPH5401 in oncology is scheduled for 2018.
The terms of the agreement between Innate Pharma and Novo Nordisk A/S specify an initial payment of €40m, paid in the form of new shares for €37.2m and in cash for €2.8m. Novo Nordisk A/S’s stake in the capital of Innate Pharma will rise from 10.3% to between 14.6% and 15.8%, depending on the average share price used.
Novo Nordisk A/S was advised by Baker McKenzie with Raphaële François-Poncet, partner in charge of the Securities and Capital Markets practice, François-Xavier Naime, partner, and Giuliano Lastrucci, associate.