When a biotech company gets bought out by big pharma, what are they actually buying?

When a biotech company gets bought out by big pharma, what are they actually buying?

Many of these smaller biotechs don’t have products and are simply surviving on grants and venture capital. So when a big pharma company buys out a promising biotech, what are the assets that they’re actually acquiring? The lease to the lab? The lab equipment? The lab notebooks? The data? The intellectual property? The employment contracts? It’s more straightforward when a business with a product gets bought out, but what about a business with no product?

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Source: Reddit