Around the time Indian and Chinese diplomacies were flexing their arms in July, a tiny research company in Noida in the National Capital Region was making up its mind. To take or not to take. Finally, it chose not to take funding from a Chinese pharmaceutical company. And the reasons were far from smouldering geopolitical tensions.

In the rarefied business of drug discovery, Curadev has a few molecules under development. Two years ago, it licensed one set to Roche for $25 million in upfront payment and is once again in the market to strike out a deal for new ones.