(RTTNews) - Innate Pharma SA (IPHA) announced Wednesday that it has obtained 28.7 million euros in non-dilutive financing in the form of two loans from Socit Gnrale and BNP Paribas.
The clinical-stage oncology-focused biotech company noted that two loans have an initial term of one year with a five-year extension option. They are 90% guaranteed by the French state as part of the package of measures put in place by the French government to support companies during the COVID-19 pandemic.
Frederic Lombard, Senior Vice President and Chief Financial Officer, Innate Pharma, said, "This additional financing provides the opportunity to further strengthen our cash position as well as our research and development activities in France."
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