INNATE PHARMA (EPA:IPH) Innate Pharma (Euronext Paris: FR0010331421 – IPH) announces its turnover for the first nine months of 2010 and updates on its cash situation

Transparency directive : regulatory news

05/11/2010 17:45

PRESS RELEASE

                     INNATE PHARMA ANNOUNCES ITS TURNOVER FOR
                        THE FIRST NINE MONTHS OF 2010 AND
                          UPDATES ON ITS CASH SITUATION

Marseilles, France, November 5, 2010

Innate Pharma (the "Company" - Euronext Paris: FR0010331421 - IPH)
announces a turnover of 0.2 millions euros (210 thousand euros) for the first
nine months of 2010, compared with 2.8 million euros (2,776 thousand euros)
for the same period in 2009.

For the nine-month period ended on September 30, 2009, revenue from
collaboration and licensing agreements mostly came from an agreement signed
with Novo Nordisk A/S in 2006 and ended in March 2009. In 2009 and 2010, the
Company received additional research and development funding from Novo Nordisk
A/S for collaborative work performed on selected products that are licensed to
Novo Nordisk A/S.

Before reaching the marketing stage of its products, turnover of the Company is
composed mostly by revenue from collaboration and licensing agreements, and
notably from payments received for the achievement of pre-specified milestones
in the development of drug-candidates. Therefore, its turnover is not
recurring and may show substantial variations from one period to another.

Government funding for research expenditures, which comprises research tax
credit, is not included in the turnover but is part of the Company's operating
revenue, only released with first half and full year results.

Cash, cash equivalents and current financial instruments and financial
liabilities:

Cash, cash equivalents and current financial instruments of the Company
amounted to 38.6 million euros at September 30, 2010.

At the same date, the financial liabilities of the Company amounted 7.7
million euros, including 4.4 million euros related to the twelve-year
lease-financing agreement on the Company's main premises, 2.5 million euros
related to Oséo*  grants and 0.8 millions euros for other lease-financing
agreements.

* The French Innovation Agency

About Innate Pharma:

Innate Pharma S.A. is a biopharmaceutical company developing first-in-class
immunotherapy drugs for cancer and inflammatory diseases.

The Company specializes in the development of new monoclonal antibodies
targeting receptors and pathways controlling the activation of innate immunity
cells. It has two proprietary clinical- stage drug candidates: IPH 1101, a
small molecule agonist of gamma delta T cells, has achieved proof-of-concept
in two Phase IIa trials, in Type C Viral Hepatitis and follicular Lymphoma.
IPH 2101, an anti-KIR monoclonal antibody potentiating NK cells activation,
is currently in Phase II clinical trials in hematologic cancers. Innate Pharma
also develops a preclinical portfolio of immunomodulatory or cytotoxic
monoclonal antibodies. Two of its preclinical programs in chronic inflammation
are out-licensed to  Novo Nordisk A/S.

The key expertise of Innate Pharma is in immuno-pharmacology and antibody
technology. The Company has implemented in-house a large panel of molecular and
cellular assays and in vivo models for assessment of pharmacodynamics and
pharmaco-toxicology of drug candidates. In addition, Innate Pharma has access
to a very large set of unique research tools in cellular immunology through its
worldwide network of scientific collaborations.

Incorporated in 1999 and listed on NYSE-Euronext in Paris in 2006, Innate
Pharma is based in Marseilles, France, and had 84 employees as at
September 30, 2010.

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

IPH_turnover 9m 2010

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INNATE PHARMA (EPA:IPH) Innate Pharma (Euronext Paris: FR0010331421 – IPH) announces its turnover for the first nine months of 2010 and updates on its cash situation

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