Investors Invited to Help Fund NZ Drug Trial

Media statement from Innate Therapeutics Ltd

14 September 2009

Investors Invited to Help Fund NZ Trial of Important Human Drug

Private placement, 15 million shares @ 50 cents each, minimum investment $25,000

Innate Therapeutics Ltd seeks investment from people keen to support New Zealand based trialing of an important human therapeutic.

The funds are for the Phase 2A clinical trial of the first therapeutic candidate to be produced using the company’s unique ‘immunomodulator’ microparticle technology, says the CEO of Innate Therapeutics, Simon Wilkinson.

“This technology induces the body’s own immune system to fight certain cancers and can also be used to manage a number of chronic autoimmune conditions,” he said.

“We have chosen multiple sclerosis as our initial disease target because of very encouraging signs we have seen in a small number of patients who had early access to the drug on compassionate grounds.

“The planned Phase 2A trial will evaluate the safety and activity of the drug in patients with progressive multiple sclerosis and will be conducted here in New Zealand with the support of United States based clinical experts.”

The minimum investment being sought is $25,000 with 15 million shares available priced at 50 cents each. The offering closes on 31 October 2009, or earlier if fully subscribed.

This investment opportunity may be taken up only by New Zealand investors who qualify as eligible persons* under the Securities Act 1978 and understand and can afford the risks associated with drug development.

Innate Therapeutics is a public unlisted Auckland based biopharmaceutical company. For further information and a copy of the private placement memorandum visit www.innatetherapeutics.com or email investment@innatetherapeutics.com or contact Simon Wilkinson, Innate Therapeutics, PO Box 91-806, Victoria Street West, Auckland 1142, Tel: 09 636 2500.

* Eligible Persons, for the purpose of this placement, and as defined by the New Zealand Securities Act 1978, include persons certified by an independent chartered accountant in the most recent 6 months as having either net assets of at least NZ$2,000,000 or an annual gross income of at least NZ$200,000 for each of the last 2 financial years.

ENDS

© Scoop Media