Innate Pharma secured a large partnership with Sobi to fund and expand development of lacutamab in cutaneous T-cell lymphoma. Sobi will pay $75 million upfront and $40 million tied to near-term milestones in Sézary syndrome, with up to $465 million linked to an option to take global development rights plus additional regulatory and commercial achievements. Innate will run TELLOMAK-3, a Phase 3 trial evaluating lacutamab in Sézary syndrome and mycosis fungoides after at least one prior systemic therapy. The study is designed to support an accelerated approval filing in Sézary syndrome, followed by broader approvals in both indications. The asset already carries FDA Breakthrough Therapy and Fast Track designations for relapsed or refractory Sézary syndrome, positioning the company for a potentially faster registrational path if trial outcomes align. The deal underscores how rare-oncology developers continue to outsource scale and global commercialization capability to larger partners as pivotal milestones approach.