Concert Pharmaceuticals & Celgene Sign $300-Million Tech Deal
Concert Pharmaceuticals, Inc. recently announced it has entered into a strategic collaboration with Celgene Corporation directed toward deuterium-modified compounds targeting cancer and inflammation. The collaboration will initially focus on one program, but has the potential to encompass multiple targets.
Under the terms of the agreement, Concert will receive an up-front 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, PhD, 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.”
Celgene Corporation, headquartered in Summit, NJ, is an integrated global biopharmaceutical company engaged primarily in the discovery, development, and commercialization of novel therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. For more information, visit www.celgene.com.
Concert Pharmaceuticals is a clinical-stage biotechnology company focused on applying the company’s DCE Platform (deuterated chemical entity platform) to create novel and differentiated small molecule drugs. For more information, visit www.concertpharma.com.
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