Innate gets OSEO €2.9M loan to fund trial in multiple myeloma

Loan

Marseille, France, based Innate Pharma said it received approval to start a Phase IIa clinical trial with IPH 2101, a monoclonal antibody activating NK cells, in multiple myeloma, and has been granted a €2.9 million interest-free loan by OSEO, the French innovation agency. The loan would be repayable from 2017 onward.

“We are very pleased to move IPH 2101 into Phase II development less than a year after we acquired rights back from Novo Nordisk AS,” said Hervé Brailly, CEO of Innate Pharma. He added, “We have great expectations for this drug candidate and believe that it has a high potential in haematological malignancies. Receiving significant financial support from OSEO is therefore very good news for the company as it will help us run several trials in parallel with this compound.”