BeOne Medicines has entered into an agreement to sell its royalty rights on the worldwide sales, excluding China, of Amgen's IMDELLTRA for up to $950 million to Royalty Pharma.
IMDELLTRA is a first-in-class immunotherapy indicated for the treatment of adult patients with extensive-stage small cell lung cancer.
The agreement includes an upfront payment of $885 million with the option to sell remaining royalties within 12 months for up to $65 million.
Royalty Purchase Agreement
Royalty Pharma to acquire BeOne's royalties on IMDELLTRA for up to $950 million, providing BeOne with substantial upfront payment and future selling opportunities.
IMDELLTRA Description
IMDELLTRA is a DLL-3 targeting bispecific T-cell engager approved for patients with extensive-stage small cell lung cancer after platinum-based chemotherapy.
Collaboration Benefits
The agreement accelerates value realization for BeOne while maintaining participation in the long-term potential of IMDELLTRA.
- The agreement with Royalty Pharma provides BeOne with financial flexibility and operational agility.
- BeOne's collaboration with Amgen has been instrumental in advancing its mission to deliver transformative oncology medicines globally.
The IMDELLTRA Royalty Purchase Agreement marks a significant milestone for BeOne Medicines, demonstrating the value of their collaboration with Amgen. This strategic move positions BeOne for continued success and innovation in the oncology sector.