The Life Sciences team advised BeOne Medicines Ltd on an agreement to sell its royalty rights on the worldwide sales, excluding China, of Amgen’s IMDELLTRA® (tarlatamab-dlle) for up to $950 million to Royalty Pharma. Under the terms of the agreement, BeOne will receive an upfront payment of $885 million, with the option to sell remaining royalties within 12 months for up to $65 million. BeOne will share in a portion of the royalty on annual sales above $1.5 billion, and will maintain royalty and all other rights to other assets under the terms of the existing collaboration with Amgen.
BeOne Medicines is a global oncology company domiciled in Switzerland that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide. With a portfolio spanning hematology and solid tumors, BeOne is expediting development of its diverse pipeline of novel therapeutics through its internal capabilities and collaborations. With a growing global team of more than 11,000 colleagues spanning six continents, BeOne is committed to radically improving access to medicines for far more patients who need them.
The Goodwin team was led by Felipe M. Heiderich, Alexandra Haas, and Kinglsey L. Taft, with important contributions from Edwin O’Connor, Dan Karelitz, Rob Lemons, and Kathryn Clerici.
For more information on the deal please read the press release and see coverage in Fierce Pharma and Reuters.