By Dean Seal

Innate Pharma's American depositary receipts rose after the company said Sanofi had exercised its option to license a natural killer cell engager program in solid tumors from Innate's ANKET platform.

The stock was up 14% at $2.79 in premarket trading. Shares had fallen by a third year-to-date when the market closed Monday.

The biopharmaceutical company said early Tuesday morning that the licensing comes pursuant to the terms of a research collaboration and license agreement signed in December 2022.

After a research collaboration period, Sanofi will be responsible for development, manufacturing and commercialization, Innate said, adding that Sanofi still has the option under the license agreement for one additional ANKET target.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

December 19, 2023 07:13 ET (12:13 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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