Innate Pharma Grants Takeda Exclusive Rights To Antibody Drug Conjugates; Stock Rises

(RTTNews) - Shares of Innate Pharma SA (IPHA) were gaining around 14 percent in the morning trading in Paris and in pre-market activity on Nasdaq after the French drug maker announced Monday an exclusive license agreement with Japan's Takeda Pharmaceutical Co. Ltd. (TAK, TKPHF.PK) of antibodies for Celiac disease research program.

Under the deal, Innate granted Takeda exclusive worldwide rights to research, develop, manufacture and commercialize antibody drug conjugates or ADC using a panel of selected Innate antibodies against an undisclosed target, with a primary focus in Celiac disease.

Under the deal terms, Innate will receive a $5 million upfront payment and is eligible to receive up to $410 million in future development, regulatory and commercial milestones if all milestones are achieved during the term of the deal. In addition, the company will get royalties on potential net sales of any commercial product resulting from the license.

Takeda will be responsible for the future development, manufacture and commercialization of any potential products developed using the licensed antibodies.

In Paris, Innate Pharma shares were trading at 3.08 euros, up 14.75%. In pre-market activity on Nasdaq, the shares were trading at $3.28, up 13.9%.

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