Astrazeneca drug deal hoists Innate Pharma shares to record high

April 24, 2015 4:15 PM

3 0

Astrazeneca drug deal hoists Innate Pharma shares to record high

PARIS (Reuters) - Shares in Innate Pharma surged to a record high on Friday as investors cheered a deal with AstraZeneca to accelerate and broaden development of its immune-boosting anti-cancer medicines that could earn the French firm $1.275 billion.

Innate Pharma will receive an initial $250 million payment from AstraZeneca, which is collaborating with Medimmune to develop the French firm's anti-NKG2A antibody, IPH2201 aimed at stimulating the body's immune system to destroy cancer cells.

Read more

To category page

Loading...