Innate Pharma SA (IPHA) announced a capital increase of nearly €15 million, fully subscribed by Sanofi. The investment involves the issuance of 8,345,387 new ordinary shares at €1.7974 per share, reflecting a total capital injection of €14,999,998.59.
This price matches the volume-weighted average share price of Innate on Euronext Paris as of April 23, 2025.
According to Innate CEO Jonathan Dickinson, Sanofi's strategic investment strengthens the ongoing partnership between the two companies. The funds will be used to support general corporate initiatives, extend the company's financial runway, and advance the clinical pipeline with a long-term value focus.
This capital increase is being executed under the authority granted by shareholders in the 22nd resolution of Innate's general meeting held on May 23, 2024. The transaction is expected to close on April 25, 2025, with the new shares listed for trading on Euronext Paris the same day.
Following the capital increase, Sanofi-Aventis Participations becomes a major stakeholder, holding approximately 9.05% of the company's shares and 8.98% of its voting rights. The public's ownership, while still representing the majority, will decrease from about 70.7% to 64.3%. Other notable shareholders include Novo Nordisk A/S, Medimmune Limited, and Bpifrance Participations, whose respective holdings have decreased in percentage terms due to the increase in total shares.
With this transaction, Innate Pharma's total number of outstanding shares rises from 83.8 million to over 92.1 million, marking a significant step in its efforts to secure financial stability and drive innovation in its immuno-oncology pipeline.
Thursday IPHA closed at $2, or 2.0305% higher on the Nasdaq Global Select Market.
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