It can take a decade or more for biotech companies to get their money back on compounds. But Titan Pharmaceuticals Inc. has done a bit of dealing that will put it ahead of the game just a few months into the development process.

TTNP in January in-licensed rights to Iloperidone, an anti-psychotic agent that was put on the block by Hoechst Marion Roussel. Under the terms of the January deal, TTNP paid HMR an upfront fee of $9.5 million. TTNP also was to pay milestones to HMR (Kansas City, Mo.).