Innate Pharma

Capital/Financing Update • Jan 8, 2010

HALF-YEAR REPORT ON INNATE PHARMA'S LIQUIDITY CONTRACT WITH NATIXIS SECURITIES

Marseilles, France, January 8, 2010

Under the liquidity contract entrusted by Innate Pharma to Natixis Securities, the following assets appeared on the liquidity account as at December 31, 2009:

• 69,741 shares of Innate Pharma, and
• 121,955.05 euros in cash.

For information, the following assets appeared on the liquidity account at its start:

300,000 euros in cash.

About Innate Pharma:

Innate Pharma S.A. is a clinical-stage biopharmaceutical company developing first-in-class immunotherapy drugs for cancer and other severe diseases. The Company was incorporated in 1999 and listed on NYSE-Euronext in Paris in 2006. The Company has two drug candidates currently in Phase II clinical trials. Two of its preclinical programs are out-licensed to Novo Nordisk A/S.

Innate Pharma is based in Marseilles, France, and had 80 employees as at December 31, 2009.

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 information on the markets on which the Company operates and forward-looking statements. Although the Company believes this information and these expectations are based on reasonable assumptions, this information and 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.innatepharma.com).

For additional information, please contact:

.

Laure-Hélène Mercier, Director, Investor Relations Phone: +33 (0)4 30 30 30 87 Mobile: +33 (0)6 64 18 99 59 investors@innate-pharma.fr caroline@alizerp.com

Innate Pharma Alize Public Relations

Caroline Carmagnol Phone: +33 (0)1 42 68 86 40