AstraZeneca to acquire 9.8% stake in Innate Pharma

AstraZeneca will acquire a newly-issued equity stake of 9.8% in smaller French peer Innate Pharma. The acquisition will strengthen AstraZeneca's presence in the field of immuno-oncology.

The British drugmaker will buy the stake via around 6.26 million new shares being issued to it at a price of 10 euros per share.

Pascal Soriot, Chief Executive Officer of AstraZeneca, said, "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 of Innate."