By “buyout” I assume you mean acquisition which would give the company that is “buying/acquiring” complete control of the future of the molecule- how to develop it, for which indications, timelines etc.

Generally, “Big Pharma” doest’t like to carve out just one indication so that they have multiple shots on goal if available.

However, you may be talking about partnerships and in that case the terms and structure of the “partnership” can vary widely.

https://www.excedr.com/blog/how-biotech-partn...t-research

Here are some examples of how that could look:

https://a16z.com/platform-partnership-fit-for-bio-startups/

Hope that helps.