No money down

In the old days, companies with too many R&D projects and too few resources went to investors for off-balance sheet financing of projects. Nowadays they go to companies in Asia. Eli Lilly and Co. has announced a deal with Nicholas Piramal India Ltd. that will allow early stage compounds at the pharma company to be developed off-shore - in India - and on Nicholas nickel.

Nicholas (NSE:Nicolaspir; BSE:500302, Mumbai, India) will develop undisclosed preclinical compounds from LLY through Phase II testing. After Phase II, LLY can take over development in exchange for a call-back payment, plus potential development and regulatory milestones and royalties. If not, Nicholas would have worldwide rights to the compound, and LLY would be eligible for royalties. ...