An upfront payment of $885 million has secured a royalty interest in Amgen's cancer drug, Imdelltra, from BeOne Medicines for Royalty Pharma The agreement also provides an option for BeOne Medicines to sell an additional portion of its royalty to Royalty Pharma for up to $65 million within the next year, bringing the total potential value of the deal to $950 million. This transaction grants Royalty Pharma an approximately 7% royalty on the worldwide net sales of Imdelltra, a first-in-class immunotherapy for extensive-stage small cell lung cancer (ES-SCLC). The royalty is expected to last through 2038 to 2041, with BeOne retaining commercial rights for Imdelltra in China.

Imdelltra, a bispecific T-cell engager (BiTE) that targets DLL3, received accelerated approval from the U.S. Food and Drug Administration in May 2024 for patients with ES-SCLC who have progressed after platinum-based chemotherapy. This disease affects around 360,000 patients globally each year and has a poor prognosis. The drug has already shown commercial promise, with sales reaching $215 million in the first half of 2025 and projections to exceed $2.8 billion by 2035. According to Royalty Pharma's founder and CEO, Pablo Legorreta, this acquisition is consistent with the company’s strategy of acquiring royalties on transformative life science products and is expected to enhance its long-term growth and portfolio diversification. For BeOne Medicines, the deal strengthens its financial position and provides strategic flexibility to continue its mission of developing new medicines.