Innate Pharma, Swedish Orphan Biovitrum Partner to Advance Phase 3 Lymphoma Drug; Shares Surge Pre-Bell
Innate Pharma (IPHA) and Swedish Orphan Biovitrum, or Sobi, said Monday that they have partnered to license lacutamab and initiate a phase 3 trial for cutaneous T-cell lymphoma, a rare type of blood cancer.The company will run the phase 3 study to support an accelerated approval filing for Sezary syndrome and full approvals for other lymphoma subtypes, the companies said.Sobi will pay $75 million upfront upon closing, with Innate eligible for up to $40 million in near-term milestones and up to $465 million in additional milestone payments alongside tiered double-digit royalties, they said.Sobi will gain worldwide marketing rights upon early approval and can take over full drug creation following positive trial results, the companies added.Shares of Innate Pharma were up more than 19% in Monday premarket activity.Price: $2.07, Change: $+0.34, Percent Change: +19.65%
