Initially, the collaboration will focus on one program, but has the potential to encompass multiple targets.
As per the agreement, Concert will receive an upfront payment of more than $300m from Celgene for the development, regulatory and sales milestone development.
In addition, Concert will receive tiered royalties on any product sales for each of the programs advanced by Celgene.
Concert Pharmaceuticals president and CEO Roger Tung said, "We look forward to working with Celgene to evaluate the potential benefits of deuterium-modification for a number of programs emerging in our pipeline."