Innate Pharma

Earnings Release • May 7, 2013

INNATE PHARMA ANNOUNCES 1Q2013 REVENUE AND CASH IN LINE WITH EXPECTATIONS

Marseilles, France, May 7, 2013

Innate Pharma SA (the "Company" - Euronext Paris: FR0010331421 – IPH), the innate immunity company developing first-in-class drugs for cancer and inflammatory diseases, announces revenue of 2.7 million euros for the first quarter of 2013 (3.0 million euros in 1Q2012). The source of this revenue is Innate Pharma's collaboration and licensing agreement with Bristol-Myers Squibb, signed in July 2011.

Cash, cash equivalents and current financial instruments of the Company amounted to 28.4 million euros at March 31, 2013. As at the same date, the financial liabilities of the Company amounted to 4.4 million euros.

Activity report and Reference Document:

The French version of the 2012 Reference Document, including the Annual Financial Report, is available on the Company's website (www.innate-pharma.com). It is also available on the website of the AMF, the French stock-market authorities (www.amf-france.org).

The English version of the 2012 Reference Document will be made available on Innate Pharma's website in May 2012.

The Activity and Responsibility report is already available on Innate Pharma's website, in French and in English.

Hard copies of these documents are available upon request to the investor relations department of the Company.

About Innate Pharma:

Innate Pharma S.A. is a biopharmaceutical company developing first-in-class immunotherapy drugs for cancer and inflammatory diseases.

The Company specializes in the development of new monoclonal antibodies targeting receptors and pathways controlling the activation of innate immunity cells. Its innovative approaches have led to licensing agreements with Novo Nordisk A/S and Bristol-Myers Squibb.

Incorporated in 1999 and listed on NYSE-Euronext in Paris in 2006, Innate Pharma is based in Marseilles, France, and had 83 employees as at March 31, 2013.

Learn more about Innate Pharma at www.innate-pharma.com.

Practical Information about Innate Pharma shares:

ISIN code	FR0010331421
Ticker code	IPH

Disclaimer:

This press release contains certain forward-looking statements. Although the company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors ("Facteurs de Risque") section of the Document de Reference prospectus filed with the AMF, which is available on the AMF website (www.amf-france.org) or on Innate Pharma's website (www.innate-pharma.com).

This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.

For additional information, please contact:

Innate Pharma ATCG Press Laure-Hélène Mercier Director, Investor Relations Phone: +33 (0)4 30 30 30 87 Mob.: +33 (0)6 26 94 18 53 investors@innate-pharma.com mb@atcg-partners.com

Marielle Bricman