October 23, 2018 / 5:19 AM / a year ago

AstraZeneca to buy 9.8 pct stake in France's Innate Pharma

PARIS, Oct 23 (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.

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 of Innate,” said AstraZeneca Chief Executive Pascal Soriot. (Reporting by Sudip Kar-Gupta; Editing by Subhranshu Sahu)

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