The two parties have also entered into an exclusive license agreement that allows BMS to develop, manufacture and commercialize Calibr’s preclinical compounds resulting from the collaboration.
Bristol-Myers Squibb Discovery, R&D head Carl Decicco said: "Bristol-Myers Squibb’s collaboration with Calibr further strengthens our Specialty portfolio and advances the company’s fibrotic diseases pipeline with the addition of this promising program.
"Calibr’s innovative discovery program in fibrosis represents an opportunity to develop new treatment approaches for patients."
Discovery of new medicines to halt or slow the progression of fibrotic disease and improve upon the current standard of care is a major part of the company’s R&D strategy.
Calibr Institute director and founder Peter Schultz said: "Progressing our small molecule anti-fibrotic program toward the clinic represents a critical step in our mission to deliver therapies for unmet medical needs to patients."
The two parties expect the transaction to be closed during the first quarter of 2015 subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.