Royalty Pharma to Acquire Royalty Interest in Amgen’s Imdelltra for up to $950 Million
Royalty Pharma (NASDAQ:RPRX) has announced the acquisition of a royalty interest in Amgen's Imdelltra from BeOne Medicines for $885 million upfront, with an additional $65 million option available to BeOne within 12 months. The deal involves approximately 7% royalty on worldwide net sales of Imdelltra, extending through 2038-2041.
Imdelltra, a first-in-class DLL3 targeting bispecific T-cell engager (BiTE), received FDA accelerated approval in May 2024 for treating extensive-stage small cell lung cancer. The drug achieved $215 million in sales during H1 2025 and is projected to reach $2.8 billion by 2035. The agreement includes royalty sharing with BeOne on annual net sales above $1.5 billion, while BeOne retains China commercial rights.
Royalty Pharma (NASDAQ:RPRX) ha annunciato l'acquisizione di un interesse di royalty su Imdelltra di Amgen da BeOne Medicines per 885 milioni di dollari upfront, con un'opzione aggiuntiva di 65 milioni di dollari esercitabile da BeOne entro 12 mesi. L'intesa prevede circa un 7% di royalty sulle vendite nette mondiali di Imdelltra, valide fino al periodo 2038-2041.
Imdelltra, un BiTE (bispecific T‑cell engager) di prima classe che prende di mira DLL3, ha ricevuto l'approvazione accelerata della FDA a maggio 2024 per il trattamento del carcinoma polmonare a piccole cellule in fase estesa. Il farmaco ha registrato 215 milioni di dollari di vendite nel primo semestre 2025 ed è previsto raggiungere 2,8 miliardi di dollari entro il 2035. L'accordo prevede la condivisione delle royalty con BeOne sulle vendite nette annuali oltre 1,5 miliardi di dollari, mentre a BeOne restano i diritti commerciali per la Cina.
Royalty Pharma (NASDAQ:RPRX) ha anunciado la adquisición de un interés de regalías sobre Imdelltra de Amgen procedente de BeOne Medicines por 885 millones de dólares por adelantado, con una opción adicional de 65 millones de dólares disponible para BeOne dentro de 12 meses. El acuerdo contempla aproximadamente un 7% de regalía sobre las ventas netas mundiales de Imdelltra, vigente hasta 2038-2041.
Imdelltra, un BiTE (enganchador bispecífico de células T) de primera clase dirigido a DLL3, obtuvo la aprobación acelerada de la FDA en mayo de 2024 para el tratamiento del cáncer de pulmón microcítico en estadio extenso. El fármaco registró 215 millones de dólares en ventas en el primer semestre de 2025 y se proyecta que alcance 2.800 millones de dólares para 2035. El acuerdo incluye el reparto de regalías con BeOne sobre las ventas netas anuales superiores a 1.500 millones de dólares, mientras que BeOne mantiene los derechos comerciales en China.
Royalty Pharma (NASDAQ:RPRX)는 BeOne Medicines로부터 Amgen의 Imdelltra에 대한 로열티 지분을 선급 8억8,500만 달러에 인수했다고 발표했으며, BeOne이 12개월 이내에 행사할 수 있는 추가 6,500만 달러 옵션이 포함되어 있습니다. 이번 거래는 Imdelltra의 전 세계 순매출에 대해 약 7% 로열티를 2038년~2041년까지 지급하는 조건입니다.
Imdelltra는 DLL3를 표적하는 최초 계열의 이중특이 T세포 유인제(BiTE)로, 2024년 5월 FDA로부터 진행성 소세포폐암 치료에 대해 가속 승인(Accelerated Approval)을 받았습니다. 이 약은 2025년 상반기에 2억1,500만 달러의 매출을 기록했으며, 2035년까지 28억 달러에 이를 것으로 예상됩니다. 계약에는 연간 순매출 15억 달러를 초과하는 부분에 대해 BeOne과의 로열티 분배 조항이 포함되어 있으며, 중국 시장에 대한 상업화 권리는 BeOne이 보유합니다.
Royalty Pharma (NASDAQ:RPRX) a annoncé l'acquisition d'un droit de redevance sur Imdelltra d'Amgen auprès de BeOne Medicines pour 885 millions de dollars au comptant, avec une option supplémentaire de 65 millions de dollars accessible à BeOne dans les 12 mois. L'accord prévoit environ 7 % de redevance sur les ventes nettes mondiales d'Imdelltra, couvrant la période 2038-2041.
Imdelltra, un BiTE (engageur bispécifique des cellules T) de première classe ciblant DLL3, a reçu l'approbation accélérée de la FDA en mai 2024 pour le traitement du cancer du poumon à petites cellules en stade étendu. Le médicament a généré 215 millions de dollars de ventes au premier semestre 2025 et devrait atteindre 2,8 milliards de dollars d'ici 2035. L'accord inclut un partage des redevances avec BeOne sur les ventes nettes annuelles dépassant 1,5 milliard de dollars, tandis que BeOne conserve les droits commerciaux pour la Chine.
Royalty Pharma (NASDAQ:RPRX) hat die Übernahme eines Lizenzzinsanspruchs an Amgens Imdelltra von BeOne Medicines für 885 Mio. USD upfront angekündigt; zusätzlich besteht für BeOne innerhalb von 12 Monaten eine Option über 65 Mio. USD. Der Vertrag sieht etwa 7% Royalty auf die weltweiten Nettoumsätze von Imdelltra vor und gilt bis etwa 2038–2041.
Imdelltra, ein First‑in‑Class DLL3‑zielgerichteter bispezifischer T‑Zell‑Engager (BiTE), erhielt im Mai 2024 die beschleunigte Zulassung der FDA zur Behandlung des ausgedehnten kleinzelligen Lungenkarzinoms. Das Medikament erzielte 215 Mio. USD Umsatz im ersten Halbjahr 2025 und soll bis 2035 auf 2,8 Mrd. USD wachsen. Vereinbart ist eine Aufteilung der Royalties mit BeOne für Jahresumsätze über 1,5 Mrd. USD; die kommerziellen Rechte für China verbleiben bei BeOne.
- Acquisition of royalty rights for FDA-approved cancer therapy with $215M in H1 2025 sales
- Strong growth potential with projected sales of $2.8B by 2035
- Long-term revenue stream secured through 2038-2041
- Diversification of portfolio with first-in-class cancer treatment
- Additional upside potential through royalty sharing on sales above $1.5B
- Large upfront payment of $885M required
- Additional $65M commitment possible within 12 months
- Dependency on Amgen's successful commercialization of Imdelltra
- BeOne retains China commercial rights, limiting geographical revenue potential
Insights
Royalty Pharma's $950M acquisition of Imdelltra royalties strengthens portfolio with promising cancer therapy projected to hit $2.8B by 2035.
Royalty Pharma's
Imdelltra targets DLL3 with BiTE technology for extensive-stage small cell lung cancer (ES-SCLC), an aggressive cancer with limited treatment options. The drug received FDA accelerated approval in May 2024 for patients who progressed after platinum-based chemotherapy. The therapeutic addresses a significant market with approximately 360,000 patients worldwide annually and poor survival rates of just
The financials reveal strong early commercial traction with Imdelltra generating
For BeOne, this transaction strengthens their balance sheet while retaining China commercial rights to Imdelltra. For Royalty Pharma, this acquisition aligns with their strategy of acquiring royalties on transformative life sciences products, enhancing long-term growth and portfolio diversification. The transaction demonstrates Royalty Pharma's confidence in Imdelltra's future potential, particularly with ongoing Phase 3 studies in front-line SCLC that could expand its market opportunity.
Imdelltra's breakthrough DLL3-targeting therapy for aggressive small cell lung cancer represents significant advancement with strong commercial potential.
Imdelltra's significance stems from its novel mechanism as a first-in-class DLL3-targeting bispecific T-cell engager (BiTE) immunotherapy. This approach represents a breakthrough for extensive-stage small cell lung cancer, a notoriously aggressive malignancy with historically poor treatment outcomes.
The clinical impact is substantial given SCLC's grim statistics - 360,000 patients diagnosed globally each year with median overall survival of approximately 12 months after initial therapy and dismal five-year survival rates of just
The ongoing Phase 3 studies investigating Imdelltra in front-line SCLC treatment could dramatically expand its clinical utility. Moving from second-line to first-line therapy would significantly increase the eligible patient population and potentially improve outcomes by introducing this targeted immunotherapy earlier in the treatment paradigm.
The strong early sales trajectory (
- Imdelltra is a first-in-class immunotherapy for the treatment of extensive-stage small cell lung cancer (ES-SCLC) marketed by Amgen
- Royalty Pharma to pay
$885 million upfront; BeOne Medicines to retain a$65 million option to sell additional portion of its royalty
NEW YORK, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired a royalty interest in Amgen’s Imdelltra, a first-in-class DLL3 targeting bispecific T-cell engager (BiTE), from BeOne Medicines for
“We are excited to acquire this royalty stream from BeOne Medicines, a global oncology company advancing innovative treatments,” said Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer. “Imdelltra is reshaping the treatment paradigm for patients with small cell lung cancer, a highly aggressive disease with few treatment options. Today’s transaction is consistent with our strategy of acquiring royalties on highly transformative products in life sciences. Imdelltra is expected to further enhance Royalty Pharma’s long-term growth and portfolio diversification, and we remain incredibly excited given our robust transaction pipeline.”
“By monetizing a significant portion of our royalty interest in Imdelltra, we are able to strengthen our balance sheet and unlock substantial value,” said John V. Oyler, Co-Founder, Chairman and CEO of BeOne. “We are pleased to reach this agreement with Royalty Pharma, a recognized leader in funding life sciences innovation. Today’s transaction enhances our financial position and provides us with increased operational and strategic flexibility to continue executing with purpose as we advance our mission to deliver multiple transformative medicines to more patients worldwide.”
Imdelltra received accelerated approval from the U.S. Food and Drug Administration in May 2024 for the treatment of extensive-stage small cell lung cancer (ES-SCLC) in patients who have progressed on or after receiving platinum-based chemotherapy. Small cell lung cancer affects approximately 360,000 patients worldwide each year and has a poor prognosis with overall survival of approximately 12 months following initial therapy and a five-year survival rate of
Transaction Terms
For up to
Advisors
Gibson Dunn & Crutcher, Dechert and Maiwald acted as legal advisors to Royalty Pharma.
About Royalty Pharma
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT and Gilead’s Trodelvy, and 16 development-stage product candidates.
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FAQ
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