07:45 AM EDT, 08/25/2025 (MT Newswires) -- (Updates with ONC stock movement in sixth paragraph, AMGN ticker in first paragraph)

BeOne Medicines ( ONC ) said Monday it has agreed to sell its royalty rights, excluding China, on Amgen's ( AMGN ) lung cancer drug, Imdelltra, to Royalty Pharma ( RPRX ) for up to $950 million.

Under the deal, the company said it would receive an upfront payment of $885 million, with an option to sell remaining royalties for up to $65 million within a year.

BeOne said it will also receive a share of royalties if annual sales exceed $1.5 billion.

The company retains rights to other assets in its Amgen ( AMGN ) partnership, including a prostate cancer therapy currently in trial.

Imdelltra is approved in the US for treating patients with extensive-stage small cell lung cancer who have progressed on or after receiving platinum-based chemotherapy, it added.

BeOne Medicines ( ONC ) shares were up 1.8% in recent premarket activity.