Innate Pharma extends cash runway to 2028 as Sobi partnership closes
The biotech firm’s first-half results confirm a €75 million upfront payment from Sobi, securing funding through early 2028 while key clinical trials for lacutamab and IPH4.5000 progress.
Innate Pharma has reported its first-half 2026 financial results, confirming the formal closure of a strategic partnership with Sobi for the development of lacutamab in T cell lymphoma. The transaction, which includes a €75 million upfront payment, marks a significant milestone for the company’s lead asset, with Sobi set to receive exclusive global commercialisation rights upon potential accelerated approval.
The financial position of the company has been further strengthened by a €30 million equity financing, which is expected to yield €28 million in net proceeds. Combined with the Sobi payment, these funds are projected to extend Innate Pharma’s cash runway through the end of the first quarter of 2028, providing a stable foundation for continued clinical development.
Clinically, the company has initiated the Phase 3 TELLOMAK-3 study for lacutamab, targeting the first patient in the first quarter of 2027. Based on existing Phase 2 data, Innate Pharma plans to file for accelerated approval in Sézary syndrome in the second half of 2027. The agreement with Sobi also includes up to €40 million in near-term milestones and up to $465 million in additional payments related to full development rights and regulatory milestones.
Progress was also reported for the company’s next-generation antibody-drug conjugate, IPH4.5000. The Phase 1 trial completed dose escalation in July 2026, with preliminary antitumour activity and objective responses observed in patients with urothelial cancer, non-small cell lung cancer, and head and neck cancer. Initial data from this trial is scheduled to be presented at the EORTC-NCI-AACR meeting in November 2026.
Meanwhile, the Phase 3 PACIFIC-9 trial for monalizumab, developed in partnership with AstraZeneca, has completed enrolment. A readout of the Phase 3 data is expected in the second half of 2026. The company noted that the favourable safety profile of its assets and the strengthened balance sheet position it well for upcoming catalysts in the remainder of the year.
Pricing research conducted in the United States suggests that lacutamab could be priced between $500,000 and $650,000 per patient per annum, supported by its clinical data and expected listing in NCCN guidelines. This premium pricing strategy is anticipated to be viable given the low incidence of Sézary syndrome and the orphan disease status of the condition.
