Financing strengthens Company’s cash horizon
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“This additional financing provides the opportunity to further strengthen our cash position as well as our research and development activities in France. We thank our bank partners, Société Générale and BNP Paribas, for their support”
Innate Pharma SA announced that it has obtained €28.7M in non-dilutive financing in the form of two loans from Société Générale and BNP Paribas.
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The two loans have an initial term of one year with a five-year extension option. They are 90% guaranteed by the French state as part of the package of measures put in place by the French government to support companies during the COVID-19 pandemic.
“This additional financing provides the opportunity to further strengthen our cash position as well as our research and development activities in France. We thank our bank partners, Société Générale and BNP Paribas, for their support,” said Frederic Lombard, Senior Vice President and Chief Financial Officer, Innate Pharma.
Innate Pharma S.A. is a global, clinical-stage oncology-focused biotech company dedicated to improving treatment and clinical outcomes for patients through therapeutic antibodies that harness the immune system to fight cancer.
Innate Pharma’s broad pipeline of antibodies includes several potentially first-in-class clinical and preclinical candidates in cancers with high unmet medical need.
Innate is a pioneer in the understanding of natural killer cell biology and has expanded its expertise in the tumor microenvironment and tumor-antigens, as well as antibody engineering. This innovative approach has resulted in a diversified proprietary portfolio and major alliances with leaders in the biopharmaceutical industry including Bristol-Myers Squibb, Novo Nordisk A/S, Sanofi, and a multi-products collaboration with AstraZeneca.
Headquartered in Marseille, France with a US office in Rockville, MD, Innate Pharma is listed on Euronext Paris and Nasdaq in the US.
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