INNATE PHARMA (EPA:IPH) The General Meeting of Innate Pharma (Euronext Paris: FR0010331421 – IPH) has authorized the Executive Board to purchase its own shares through a share repurchase program.

Transparency directive : regulatory news

18/09/2009 18:10

PRESS RELEASE

DESCRIPTION OF THE COMPANY'S AUTHORIZATION TO PURCHASE OF ITS OWN SHARES ADOPTED
DURING THE GENERAL SHAREHOLDERS' MEETING ON JUNE 23, 2009

Marseilles, France, September 18, 2009

During the General Shareholders' Meeting which took place on June 23, 2009, the
general meeting of Innate Pharma (the Company - Euronext Paris: FR0010331421 -
IPH) has authorized the Executive Board to purchase its own shares through a
share repurchase program.

Description of the share repurchase program approved by the shareholders during
the General Shareholders' Meeting on June 23, 2009:

1. Number of shares and share capital directly or indirectly held by the
Company:  As of September 18, 2009, the Company does not hold treasury shares.

2. Objectives of the share repurchase program:

(i) to hold the shares that would have been purchased and to use them in
exchange or in payment in the context of potential external growth transactions,
in compliance with market regulations;

(ii) to distribute shares upon the exercise of the rights attached to securities
giving a right to the Company's shares;

(iii) to allocate shares to employees, directors or officers of the Company or
its affiliates in accordance with the terms and conditions set by law, in
particular, by allocation of free shares, participation in the profits from the
expansion of the business, stock option plans or a company savings plan;

(iv) to ensure liquidity and to promote the secondary market for the Company's
securities, with the assistance of an investment services provider in the
context of a liquidity contract in compliance with the ethics charter approved
by the Autorité des Marchés Financiers;

(v) to cancel securities acquired; and

(vi) to accomplish all other authorized purposes or those that could become
authorized or recognized by law or that could be recognized as a market practice
by the Autorité des Marchés Financiers, in which case the Company would inform
its sha reho l de rs.

3. Maximum share capital, maximum number and description of shares which may be
acquired by the Company and maximum purchase price:

- The maximum number of shares that may be acquired pursuant to this
authorization may not exceed 10% of the total number of shares comprising the
Company's share capital and 5% of the total number of shares comprising the
Company's share capital for the acquisitions made to retain shares and to
subsequently use them as payment or in an exchange in the context of a merger,
split or sale transaction; it being specified that these limits apply to an
amount of the Company's share capital that will be adjusted, if necessary, to
take into account those transactions that will affect the share capital
following the date of the present Shareholders' Meeting. The acquisitions
carried out by the Company must not result in the Company holding, at any
moment, directly or indirectly, more than 10% of its share capital.

- The maximum purchase price (before expenses) per share is set at EUR10 and,

- The maximum amount of funds allocated to this share repurchase program may not
exceed EUR10,000,000.

4. Duration of the share repurchase program:

The authorization of the share repurchase program was given for a period of 18
months from the date of the June 23, 2009 Shareholders' Meeting, i.e. until
December 23, 2010.

5. Appointment of an investment services provider:

The Company has appointed an investment services provider acting independently
so as to assist it in the execution of its share repurchase program.

About Innate Pharma:

Innate Pharma S.A. ("the company") is a clinical-stage biopharmaceutical company
developing first-in-class immunotherapy drugs for cancer and other severe
diseases. The company was incorporated in 1999 and listed on NYSE-Euronext in
Paris in 2006.

The company has significant expertise in identifying new targets and bringing
novel drug candidates through to clinical proof-of-concept trials. It currently
has seven proprietary drug candidates in development (two of which are in Phase
II clinical trials) and two programs out-licensed to Novo Nordisk A/S.

Innate Pharma is based in Marseilles, France, and had 86 employees as at
June 30, 2009.

Learn more about Innate-Pharma at www.innate-pharma.com.

Practical Information about Innate Pharma shares:

ISIN code        FR0010331421
Ticker code      IPH

Disclaimer:

This press release contains certain forward-looking statements. Although the
company believes its expectations are based on reasonable assumptions, these
forward-looking statements are subject to numerous risks and uncertainties,
which could cause actual results to differ materially from those anticipated.
For a discussion of risks and uncertainties which could cause the company's
actual results, financial condition, performance or achievements to differ from
those contained in the forward-looking statements, please refer to the Risk
Factors ("Facteurs de Risque") section of the Document de Reference prospectus
filed with the AMF, which is available on the AMF website
(http://www.amf-france.org) or on Innate Pharma's website.

This press release and the information contained herein do not constitute an
offer to sell or a solicitation of an offer to buy or subscribe to shares in
Innate Pharma in any country.

For additional information, please contact:
Innate Pharma                 Alize Public Relations
Laure-Hélène Mercier          Caroline Carmagnol
Director, Investor Relations  Phone: +33 (0)1 41 22 07 31
Phone: +33 (0)4 30 30 30 87   Mobile: +33 (0)6 64 18 99 59
investors@innate-pharma.com   caroline@alizerp.com

090918 IPH Share repurchase program

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