Innate Pharma

Capital/Financing Update • Jan 8, 2015

FULL-YEAR REPORT ON INNATE PHARMA'S LIQUIDITY CONTRACT WITH GILBERT DUPONT

Marseille, France, January 8, 2015

Under the liquidity contract entrusted by Innate Pharma to Gilbert Dupont, the following assets appeared on the liquidity account as at December 31, 2014:

• 33,310 shares of Innate Pharma, and
• 233,366.36 euros in cash

As a reminder, at June 30, 2014, the following assets appeared on the liquidity account:

• 23,490 shares of Innate Pharma, and
• 312,376.44 euros in cash

About Innate Pharma:

Innate Pharma S.A. is a biopharmaceutical company discovering and developing first-in-class therapeutic antibodies for the treatment of cancer and inflammatory diseases.

Its innovative approach has translated into major alliances with leaders in the biopharmaceutical industry such as Bristol-Myers Squibb and Novo Nordisk A/S.

The Company has two clinical-stage programs in immuno-oncology, a new therapeutic field that is changing cancer treatment by enhancing the capability of the body's own immune cells to recognize and kill cancer cells. Innate Pharma science also has potential in chronic inflammatory diseases.

Listed on Euronext-Paris, Innate Pharma is based in Marseille, France, and had 97 employees as at September 30, 2014.

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 (http://www.amf-france.org) or on Innate Pharma's website.

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 Tel.: +33 (0)4 30 30 30 87 investors@innate-pharma.com presse@atcg-partners.com

Judith Aziza, Mob.:+33 (0)6 70 07 77 51 Marielle Bricman, Mob.:+33 (0)6 26 94 18 53