Concert Pharmaceuticals, a clinical stage biotechnology company, has entered into a strategic collaboration with Celgene, a Summit, N.J.-based integrated global biopharmaceutical company, directed towards deuterium-modified compounds targeting cancer and inflammation. The collaboration will initially focus on one program, but has the potential to encompass multiple targets.

Concert will receive an upfront payment from Celgene and in the event Celgene decides to exercise its program options, Concert will be eligible to receive greater than $300 million in development, regulatory and sales milestone payments for each program selected for development by Celgene. In addition, Concert will receive tiered royalties on any product sales for each of the programs advanced by Celgene.

"Celgene's deep experience developing clinically meaningful therapies, and their global commitment to patients across multiple therapeutic areas, make them an ideal partner," said Roger Tung, Ph.D., president and CEO of Concert Pharmaceuticals. "We look forward to working with Celgene to evaluate the potential benefits of deuterium-modification for a number of programs emerging in our pipeline."