Innate Pharma S.A.

Hello, and thank you for standing by. My name is Lacey, and I will be your conference operator today. At this time, I would like to welcome everyone to the Innate Pharma First Quarter 2025 Financial Results and Business Update Conference Call. All lines have been placed on mute to prevent any background noise. After speaker remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star 1 again. Thank you. I would now like to turn the call over to Henry Wheeler, Vice President of Investor and Relations. You may go ahead.

Thank you. Good morning, good afternoon, and welcome, everyone. This morning, Innate issued a press release for our Q1 2025 business update and financial results. We look forward to highlighting the progress made during the year to date, as well as addressing future goals and milestones. The press release and today's presentation are both available on the IR section of our website. On slide two, before we start, I'd like to remind you that we'll be making forward-looking statements regarding the financial outlook in addition to regulatory and product plan developments. These statements are subject to risks and uncertainties that may cause actual results to differ from those forecasted. On slide three, to cover today's agenda, After an introduction from Jonathan, our CEO, Yanis Morel, Chief Operating Officer, will discuss the preclinical ANCET platform and ADC updates. Sonia Quarantino, our Chief Medical Officer, will cover the clinical updates on the Kutumab 6501 and 4502, who will then hand the call to Jonathan to wrap and close. We also have Frederick, our CFO, on the line for Q&A. Jonathan, over to you.

Thank you, Henry, and good morning to our U.S. participants and good afternoon to everybody in Europe. I'm happy to have the opportunity today to update you on the latest developments at Innate Pharma. Starting with slide five, which illustrates our revised strategy, as you remember, we updated our strategic focus for 2025, which we shared during our presentation at the JP Morgan Healthcare Conference in January. As a reminder, this is illustrated on slide five. This strategy is focused on three key growth pillars that we believe will drive long-term value for Innate Pharma, our shareholders, and most importantly, for patients. The first pillar is our NK Cell Engagers, the Ancare platform, which continues to be a critical component of our strategy. We are advancing three key programs from this platform, IPH65, Our CD20 targeted anchor is currently in phase one. We're excited about IPH65's potential to address hematological malignancies and potentially autoimmune diseases. IPH61 rights will be returned to innate as of July 1st, and it is progressing in phase two and with phase one data already presented. It was also awarded fast-track designation for the treatment of acute AML. We believe that this asset has potential to significantly impact patients' lives. IPH64, our BCMA target ANCET, is in phase one in myeloma in partnership with Sanofi and will be transitioned into autoimmune disease. These three assets continue to drive our leadership in NK cell engager therapies. The second strategic pillar is our antibody drug conjugates. We're particularly enthusiastic about IPH45, our Nectin-4 targeted ADC. The IND cleared last year, and the first patients were dosed in January 2025. This differentiated TOPA1 ADC targets high moderate and low nectin-4-expressing tumors. With nectin-4 being expressed at varying levels in a range of large tumors, IPH45's ability to bind low, moderate, and high-expressing tumors preclinically significantly expands the potential product opportunity. We also have IPH43, our MIC-AB targeted ADC program, which is in research further advancing our capabilities in ADCs. The third pillar is our current late-stage assets. We're committed to advancing our late-stage programs, particularly lakutamab. Following positive Phase II data, FDA feedback on next steps, and the U.S. FDA breakthrough therapy designation, we're actively progressing partnership discussions. We are particularly pleased with the lakutamab BTD designation which underscores its potential to treat cesarean syndrome patients with high unmet medical need. Additionally, monolizumab continues to progress well with AstraZeneca in the Pacific 9 phase 3 trial, and we remain optimistic about it. Turn to slide 6, which highlights our impressive pipeline. As you can see, we're advancing a robust pipeline with eight innovative assets currently in the clinic. The highlights include our proprietary asset, IPH65 for B-cell lymphomas, and our soon-to-be proprietary asset, IPH6101 for AML. Our Sanofi partnered asset, IPH6401, which is now being developed in autoimmune disease, and our proprietary ADC IPH45 targeting nectin for expressing solid tumors. In phase two, we have proprietary Cur3-DL2-targeted antibody lacutamab for CTCL and PTCL. And finally, we have our AZ-partnered acid monolizumab, which is being studied for neoadjuvant non-small cell lung cancer and is in a phase three study for unresectable stage three non-small cell lung cancer. These assets showcase the productivity of our R&D organization and our commitment to delivering breakthrough treatments across a range of cancers and autoimmune diseases. Turning to slide seven, this summarizes the recent transaction with Sanofi. We're very pleased that Sanofi chose to make a 50 million euro strategic equity investment into innate pharma, which reflects their excitement and confidence in the Ankit and our ADC platforms and the products which are in development. We're pleased to have Sanofi as a significant company shareholder with a 9% holding in our stock. As part of the agreement, Sanofi will return the rights to the CD123 targeting anchored IPH6101, which they were pursuing in AML. This will occur on July 1st. As part of their broader strategic reprioritization, this is why the asset was returned. We will evaluate the data for IPH6101 once received and determine the next steps for this program. As a reminder, Sanofi had progressed IPH6101 into phase two in treatment refractory AML patients and initiated a first line AML phase one study in combination with venetoclax and azacitidine. The other aspects of the agreement with Sanofi remain unchanged. They announced that they pivoted the BCMA-targeted ANCET IPH6401 from myeloma into autoimmune indications. They also have IPH6201, the B7H3-targeted ANCET, and an undisclosed target as part of the agreement. The total potential milestones due on these assets is over one billion under our existing 2016 and 2022 agreements turning to slide eight this highlights our upcoming asco presentations um we are very pleased that uh the long-term follow-up data for lakuta map has been accepted for presentation at asco and we will have updates of both the cesarean syndrome data and the mycosis fungoides data, which was used to support the FDA breakthrough designation. And we're excited that this data, which will be shared at ASCO, continues to mature and improve with time. We also have a trial-in-progress presentation for our differentiated Nectin-4 targeted ADC, IPH4502, and AstraZeneca will present updates for monolizumab from the NeoCoast2 trial ahead of the upcoming Phase 3 readout for Pacific 9 next year. I'll now hand over to Yanis Morel, our COO, who will present the preclinical data for IPH4502 and IPH 6501, and in particular, new data which was recently presented at AACR in Chicago and which further differentiates IPH 4502.