Pharma BD Deal Intelligence

AstraZeneca PLC / Innate Pharma SA

2018 · Licensing/Option · $1.3B · Complete

CALLED IT — OFF BY 11
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The coverage arc

Oct 23, 2018 AstraZeneca Press Release Bullish

AstraZeneca strengthens and expands oncology development and commercialisation collaboration with Innate Pharma, obtaining full oncology rights to monalizumab.

Aug 01, 2022 Innate Pharma Press Release Bearish

AstraZeneca to discontinue the Phase 3 INTERLINK-1 study of monalizumab plus cetuximab in R/M HNSCC after the futility interim analysis did not meet a…

May 13, 2026 Innate Pharma 6-K (Q1 2026) Neutral

Innate Pharma SA Form 6-K Q1 2026 business update and financial results (exhibit 99.1).

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AstraZeneca expanded its immuno-oncology collaboration with Innate Pharma on 23 October 2018, obtaining full global oncology rights to monalizumab, a first-in-class anti-NKG2A antibody (NK/CD8 T-cell checkpoint). The multi-part deal comprised: (1) a $100M payment for monalizumab rights with up to $1.275B in total potential payments; (2) $50M upfront for a co-development option on IPH5201 (anti-CD39); and (3) $20M for license options on four preclinical molecules. For commercialized products AstraZeneca books sales and pays Innate double-digit to mid-teen royalties globally, with a 50:50 profit share in Europe. POST-DEAL ARC: A $50M milestone was triggered when the first patient was dosed in the monalizumab Phase 3 lung-cancer program. In August 2022 AstraZeneca discontinued the Phase 3 INTERLINK-1 trial (monalizumab + cetuximab in recurrent/metastatic head-and-neck cancer) after a futility interim analysis missed its pre-defined efficacy threshold. Monalizumab's value now hinges on the pivotal Phase 3 PACIFIC-9 trial (durvalumab + monalizumab or oleclumab in unresectable Stage III NSCLC), whose enrollment is complete with a data readout expected in H2 2026. On the optioned asset, IPH5201 (anti-CD39) reported positive MATISSE Phase 2 interim results at the AACR 2026 plenary (April 2026): pathological complete response of 35.7% in PD-L1>=1% and 50% in PD-L1>=50% resectable NSCLC, supporting continued study.

Key facts

Related deals — scored

DealYearValueOutcome
AstraZeneca PLC / Innate Pharma SA (this deal)2018$1.3B54
AstraZeneca PLC / Daiichi Sankyo Company, Limited2019$6.9B100
AstraZeneca PLC / KuDOS Pharmaceuticals Limited2005$210M98
AstraZeneca PLC / Alexion Pharmaceuticals Inc.2020$39.0B86
AstraZeneca PLC / Acerta Pharma2015$4.0B86
AstraZeneca PLC / Amgen Inc.2020$2.3B84
AstraZeneca PLC / MedImmune Inc.2007$15.6B82

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