Under the agreement, Oncolys may receive up to $286m as well as upfront, development, regulatory and sales milestone payments.
In addition, Oncolys is eligible to receive tiered royalties on the basis of worldwide product sales.
Bristol-Myers Squibb Development senior vice president Brian Daniels said the company is committed to the ongoing discovery, development and delivery of medicines to fight HIV/AIDS globally.
"The profile of festinavir offers the possibility of improvement in the safety of long-term HIV treatment, an area of significant unmet medical need," Daniels said.