Sobi and Innate Pharma Form $580M Partnership to Advance Lacutamab to Phase 3 for Rare Skin Cancer

Innate Pharma has partnered with Sobi in a strategic deal worth up to $580 million to advance its skin cancer drug, lacutamab, into the Phase 3 TELLOMAK-3 trial. Sobi will provide $75 million upfront, extending Innate's cash runway through Q3 2027, and up to $505 million in milestones. The trial will support an accelerated approval filing for Sézary syndrome. Alongside the deal, Innate appointed Markus Jensen as Chief Medical Officer to oversee clinical execution.

Sobi-Innate Pharma partnership terms

• ▪Innate Pharma is eligible to receive up to $40 million in near-term development milestones tied to Sézary syndrome from Sobi.
• ▪Sobi will pay Innate Pharma an upfront payment of $75 million upon the closing of their strategic partnership transaction.
• ▪Sobi holds an option to acquire full global development rights for lacutamab, which alongside future regulatory and commercial milestones, could yield up to $465 million for Innate Pharma.
• ▪Sobi will secure exclusive global commercialization rights for lacutamab if an accelerated approval is granted, and Innate Pharma will receive tiered double-digit royalties on net sales.
• ▪Innate Pharma and Swedish Orphan Biovitrum AB (Sobi) entered a strategic partnership to advance the development of the anti-KIR3DL2 antibody lacutamab.

TELLOMAK-3 Phase 3 trial

• ▪The primary endpoint of the Phase 3 TELLOMAK-3 trial for lacutamab is progression-free survival.
• ▪The Phase 3 TELLOMAK-3 trial is an open-label, randomized, multicenter study evaluating patients with cutaneous T-cell lymphoma who have failed at least one prior systemic therapy.
• ▪Innate Pharma plans to initiate the TELLOMAK-3 confirmatory Phase 3 study of lacutamab in cutaneous T-cell lymphoma (CTCL) subject to the closing of the Sobi partnership.

Sézary syndrome accelerated approval

• ▪The TELLOMAK-3 trial is designed to support a planned accelerated approval filing for lacutamab in Sézary syndrome based on existing TELLOMAK Phase 2 data.
• ▪Lacutamab has received Fast Track and Breakthrough Therapy designations from the FDA, as well as PRIME designation from the EMA, for the treatment of Sézary syndrome.

Markus Jensen CMO appointment

• ▪Markus Jensen joined Innate Pharma in 2024 as head of clinical pharmacology and previously spent over 16 years in leadership positions at Bayer focused on oncology and clinical development.
• ▪Innate Pharma appointed Markus Jensen as Chief Medical Officer and member of the Executive Leadership Team, effective September 1, 2026, succeeding Sonia Quaratino.

Development funding through 2027

• ▪The $75 million upfront payment from Sobi is expected to extend Innate Pharma's projected cash runway through the third quarter of 2027.
• ▪Innate Pharma had 25.4 million euros ($29.3 million) in cash at the end of March 2026 and continues to explore other financing opportunities to support its clinical priorities.