Innate Pharma signs Global License Agreement with BMS, potential deal value up to $465 million - Gilde Healthcare

Innate Pharma signs Global License Agreement with BMS, potential deal value up to $465 million

July 7, 2011

Princeton, New Jersey, and Marseille, France – Bristol-Myers Squibb Company (NYSE: BMY) and Innate Pharma S.A. (Euronext Paris: FR0010331421, IPH) announced a global agreement for the development and commercialization of IPH2102, a novel antibody in Phase I development for the treatment of cancer.

Under the terms of the agreement, Innate Pharma will grant to Bristol-Myers Squibb exclusive worldwide rights to develop, manufacture and commercialize IPH2102 and related compounds blocking KIR receptors. The agreement covers all potential indications for IPH2102. Innate Pharma will continue to develop IPH2102 in acute myeloid leukemia (AML) through to the end of Phase II. Innate Pharma will also provide pre-clinical support for the development of IPH2102. Bristol-Myers Squibb will fund the development of IPH2102, make an upfront payment of $35 million and additional payments of up to $430 million, depending on the achievement of pre-specified milestones during the development and commercialization period, as well as pre-specified tiered double-digit royalty payments on worldwide net sales.

About Innate Pharma

Innate Pharma S.A. is a biopharmaceutical company developing first-in-class immunotherapy drugs targeting innate immunity checkpoints. Its innovative approach has been validated by license agreements with Novo Nordisk A/S. and Bristol Myers Squibb, two major pharmaceutical companies. Learn more about Innate Pharma at www.innatepharma.com

About Gilde Healthcare Partners

Gilde Healthcare Partners (Utrecht, The Netherlands and Boston, US) is a transatlantic venture and growth capital firm focused on private healthcare technologies and services. It has over €400 million under management and is actively looking to lead new investments in therapeutics, diagnostics, medical devices and services. Gilde successfully builds healthcare businesses across Europe and US, investing up to €15 million in a single portfolio company. By investing in companies with clear, achievable business models, Gilde has used its financial resources and network to create significant value for both its investors and the entrepreneurs it backs. For a list of Gilde’s portfolio companies please visit the website at www.gildehealthcare.com

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