Royalty Pharma has secured a royalty interest in BeOne Medicines’ Imdelltra, an immunotherapy for extensive-stage small cell lung cancer, in a deal valued up to $950 million. Imdelltra, a bispecific T-cell engager, gained accelerated FDA approval following successful phase II results and has surpassed sales expectations since market entry. BeOne retains exclusive distribution rights in China, while Royalty Pharma will receive a 7% royalty on worldwide sales. This transaction underlines the growing market potential for innovative cancer immunotherapies addressing aggressive tumor types.