Alkermes bets its own money

Alkermes Inc. is betting that an ounce of investment will result in a pound of partnerships. The Cambridge, Mass., company, which last week announced a collaboration to develop ProLease drug delivery formulations of two Genentech Inc. drugs, has been putting up its own money to do initial testing of its drug delivery system in order to lure partners.

"Last year we picked molecules and partners we wanted and went to them," said CEO Richard Pops, "but most said no."...