Royalty Pharma to buy royalty interest in Amgen’s Imdelltra for up to $950M

BeOne Medicines (NASDAQ:ONC [https://seekingalpha.com/symbol/ONC]) is selling its royalty rights on the worldwide sales, excluding China, of Amgen’s (NASDAQ:AMGN [https://seekingalpha.com/symbol/AMGN]) cancer drug Imdelltra (tarlatamab-dlle) for up to $950M to Royalty Pharma (NASDAQ:RPRX [https://seekingalpha.com/symbol/RPRX]).

Imdelltra is an immunotherapy drug approved in the U.S. for patients with extensive-stage small cell lung cancer (ES-SCLC) who have progressed on or after receiving platinum-based chemotherapy.

Under the terms of the agreement, BeOne will receive an upfront payment of $885M, with the option to sell remaining royalties within 12 months for up to $65M.

The company will share in a portion of the royalty on annual sales above $1.5B, and will maintain royalty and all other rights to other assets under the terms of the existing collaboration with Amgen, including xaluritamig.

Source: Press Release [https://seekingalpha.com/pr/20209757-beone-medicines-announces-imdelltra-royalty-purchase-agreement-for-up-to-950-million]

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