AstraZeneca to buy 9.8 percent stake in France’s Innate Pharma

PARIS (Reuters) – British drugmaker AstraZeneca will buy a newly-issued equity stake of 9.8 percent in smaller French peer Innate Pharma, strengthening its presence in the field of immuno-oncology.

FILE PHOTO: A man walks past a sign at an AstraZeneca site in Macclesfield, central England May 19, 2014. REUTERS/Phil Noble/File Photo

AstraZeneca will buy the stake via around 6.26 million new shares being issued to it at a price of 10 euros per share, the two companies said on Tuesday.

“Our expanded collaboration with Innate Pharma enables us to further strengthen our leadership in immuno-oncology, and to explore the potential of next generation immuno-oncology pathways, together with the world-class scientific team ofInnate,” said AstraZeneca Chief Executive Pascal Soriot.

Reporting by Sudip Kar-Gupta; Editing by Subhranshu Sahu

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