Bayer is going to get royalties for the life cycle of the product if it's successful, that's not full ownership, they licensed out the global rights to another company.
Again, I'm not saying collaboration and licensing is a bad thing in anyway, but once you get past the pre-clinical stages of research these huge companies are largely going to keep their bigger potential products under their own banner unless they require the synergistic collaboration with another firm that specializes or has IP they require for development. That, or they don't see big opportunity and would rather give it to another company to monetize it rather then just shelve it.
Please tell me how this applies to Bayer giving IP rights to a complete startup? HopeMed has nothing in terms of IP or infrastructure that would lead you to believe a company like Bayer would be better off giving them the rights unless it has something to do with Chinese health/governmental agency approvals.
Well HopeMed, is a startup, that is based on the Peking University staff that was involved in the research to start with. So Bayer let people who already work with this continue doing so. Now they are just detatched from the university and gone commercially with investors in their back to advance their research.
So its not something that happened out of thin air. Its people who have been involved in the project the entire time.