Innate Pharma $79 Million U.S. Initial Public Offering of ADS on Nasdaq and Concurrent Private Placement

Davis Polk advised the underwriters in connection with an initial public offering of 8,047,227 American Depositary Shares of Innate Pharma S.A. and a concurrent private placement of 4,452,773 ordinary shares in Europe and countries outside of the United States. In addition, the underwriters have exercised an option to purchase an additional 1,875,000 ADSs. Aggregate gross proceeds, before deducting underwriting discounts and commissions and offering expenses payable by the company, were approximately $79.0 million. Innate’s ADSs are listed on the Nasdaq Global Select Market under the symbol “IPHA” and Innate’s ordinary shares are listed on Euronext Paris under the symbol “IPH.”

Headquartered in Marseille, France, Innate Pharma S.A. is a commercial stage oncology-focused biotechnology company focused on discovering, developing and commercializing first-in-class therapeutic antibodies designed to harness the immune system for the treatment of oncology indications with significant unmet medical need.

 Innate has been a pioneer in the understanding of NK cell biology and has expanded its expertise in the tumor microenvironment and tumor-antigens, as well as antibody engineering. This innovative approach has resulted in a diversified proprietary portfolio and major alliances with leaders in the biopharmaceutical industry including Bristol-Myers Squibb, Novo Nordisk A/S, Sanofi and a multi-products collaboration with AstraZeneca.

The Davis Polk capital markets team included partners Deanna L. Kirkpatrick and Yasin Keshvargar and associate Edward Peck. Partner David R. Bauer and associates Jay Frankel and Jennifer Leather provided intellectual property and technology advice. The tax team included partner Michael Mollerus. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and Northern California offices.