Innate Pharma, Novo Nordisk deal

Novo Nordisk granted Innate worldwide development and commercialization rights to anti-NKG2a ( IPH 2201) in exchange for €2 million ($2.7 million) in cash and 600,000 Innate shares. The Innate shares are valued at €6 million ($8 million) based on Innate's close of €9.94 on Feb. 5, before the deal was announced. Novo Nordisk is also eligible for up to €20 million ($27 million) in milestones and single-digit tiered royalties. The acquisition of the Innate shares is subject to approval by Innate shareholders at an extraordinary general meeting on March 27. Innate said anti-NKG2a is "Phase II ready" and that it plans to begin clinical testing of the mAb against killer cell lectin-like receptor subfamily C member 1 ( KLRC1; CD159a; NKG2A) in cancer this year. Novo Nordisk previously conducted a Phase I trial of the compound in rheumatoid arthritis (RA). ...