Andrew Berens

Jessica Fye

Ziyi Chen

Reni Benjamin

Sean Laaman

Yigal Nochomovitz

Dingding Shi

Michael Schmidt

Gregory Renza

Kelly Shi

TD Cowen Analyst

Unknown Analyst

Yaron Werber

- BeOne Medicines Ltd. has entered into a **Royalty Purchase Agreement** with Royalty Pharma to sell its royalty rights on worldwide sales (excluding China) of **IMDELLTRA** (tarlatamab-dlle) for up to **$950 million**.  **[1651308_0001628280-25-041082_a20250825formxprojecttarot.htm:0]** **[1651308_0001628280-25-041082_bgne-20250825.htm:1]** 
- The agreement includes an **upfront payment of $885 million** to BeOne, with an option to sell remaining royalties for up to an additional **$65 million** within 12 months.  **[1651308_0001628280-25-041082_a20250825formxprojecttarot.htm:0]** **[1651308_0001628280-25-041082_bgne-20250825.htm:1]** 
- **IMDELLTRA** is a first-in-class DLL-3 targeting bispecific T-cell engager approved in the U.S. for adult patients with extensive-stage small cell lung cancer (ES-SCLC).  **[1651308_0001628280-25-041082_a20250825formxprojecttarot.htm:0]** 
- This transaction is expected to **accelerate value realization** and provide BeOne with **increased operational and strategic flexibility**.  **[1651308_0001628280-25-041082_a20250825formxprojecttarot.htm:0]**

BeOne Medicines Announces IMDELLTRA Royalty Purchase Agreement

BeOne Medicines (ONC)