Clinical-stage biotechnology company Innate Pharma SA (Euronext Paris:IPH) (Nasdaq:IPHA) on Thursday announced a capital increase of EUR14,999,998.59 through a strategic investment by French healthcare company Sanofi S.A. (Euronext Paris:SAN) (Nasdaq:SNY).

Sanofi subscribed to 8,345,387 new ordinary shares at EUR1.7974 per share, matching the volume-weighted average share price on 23 April 2025.

This investment builds on the existing collaboration between the two companies, including development of the BCMA-targeting ANKET programme for autoimmune indications. The capital increase, authorised under the 22nd resolution of Innate's 2024 shareholder meeting, is expected to close on 25 April 2025.

Proceeds will be used for general corporate purposes and to extend Innate's cash runway, supporting ongoing pipeline development and long-term value creation. The newly issued shares will begin trading on Euronext Paris on the same day as the closing.

Innate Pharma views this investment as a vote of confidence in its strategic direction and research efforts.