Innate Pharma's Expanded IO AstraZeneca Deal Jump-Starts US Ambitions

France's Innate Pharma SA has bounced back from last year's R&D disappointments with an expanded, multi-layered oncology development collaboration with AstraZeneca PLC, which will see the UK-based big pharma gaining rights or access to several promising immuno-oncology candidates from Innate including monalizumab, and Innate Pharma taking a license to AstraZeneca's rare oncology disease product, Lumoxiti (moxetumomab pasudotox-tdfk) to further its own US and EU commercial ambitions.

Investors responded positively to the news, with Innate's Euronext price rising initially by 35% to €6.50 on Oct. 23, 2018, when the expanded deal was revealed. The announcement follows hard...