The drugmaker's purchase of private biotech CoStim Pharmaceuticals comes with a host of experimental immuno-oncology agents.
The company expects to return to growth in 2015 as it focuses on immunotherapy collaborations.
The two will explore cancer-attacking nanobodies.
Friday's no-nivolumab news event disappointed some, but analysts generally rooted for BMS, which saw year-end sales fall 7%, because of anticipated immuno-oncology success.
Merck and Celgene are exploring a combination that could solidify their immuno-oncology footholds.
Phase III results of its Crohn's and ulcerative colitis medication show positive patient response in a category among patients who have exhausted other options.