The collaboration will leverage Ambrx’s protein medicinal chemistry technology.
Ambrx chief executive officer Lawson Macartney said it is the third collaboration to include another aspect of the technology platform.
"We look forward to working together to further utilize Ambrx’s technology to discover and advance these antibody drug conjugates for oncology indications," Macartney added.
According to the deal, Ambrx will earn $15m upfront payment, funds for discovery and research activities, development, regulatory and sales based milestone payments of around $97m per product that results from the collaboration in addition to sales based royalties.
Bristol-Myers will have global rights to develop and commercialize products resulting from the collaboration.
Additional terms of the collaboration have not been revealed.