IPHA · Innate Pharma S.A.

Innate Pharma's announcement of interim results from the single-arm Phase 2 MATISSE trial represents a significant clinical milestone for IPH5201, a first-in-class anti-CD39 monoclonal antibody co-developed with AstraZeneca. The pre-planned analysis on 40 previously untreated patients with resectable NSCLC demonstrated pathological complete response (pCR) rates superior to the benchmark from durvalumab plus chemotherapy alone, with 35.7% overall in PD-L1 ≥1% tumors and notably 50% in the PD-L1 ≥50% subgroup. This dual inhibition of CD39 and PD-L1 pathways, alongside neoadjuvant and perioperative platinum-based chemotherapy, aims to enhance anti-tumor immunity by promoting immunostimulatory ATP accumulation and reducing immunosuppressive adenosine. Chief Medical Officer Dr. Sonia Quaratino highlighted the potential to address recurrence risk in resectable NSCLC, particularly in PD-L1 positive patients, with enrollment continuing in this population. The plenary presentation at AACR 2026 on April 21 underscores the results' credibility, presented by Pr. Fabrice Barlesi of Institut Gustave Roussy. For investors, these outcomes de-risk IPH5201's development in early-stage lung cancer, a high-unmet-need area, and validate the adenosine pathway strategy within Innate's immuno-oncology portfolio including monalizumab also with AstraZeneca.