Royalty Pharma has acquired royalty interests in Amgen’s Imdelltra (tarlatamab-dlle), an FDA-accelerated bispecific T-cell engager approved for extensive-stage small cell lung cancer. The $950 million transaction includes upfront and potential additional payments, with distribution rights retained by BeOne Medicines in China. Imdelltra's innovative immunotherapy mechanism activates patient immune systems to target tumor cells, showing promising commercial adoption with $215 million in sales in the first half of 2025.