In theory, I can't argue that. But in application, it's really not true. Again, I have personally never seen this happen. It would be extremely odd in the science field.
Let's think about it this way:
When you are a small biotech, what is the main economic goal? It's to survive. Whether through funding or a buyout.
This industry is riff with failure. Most never make it. And the one's that do, are either backed through serious institutions or get bought out by "Big Pharma."
MimiVax has serious economic partners. They are going through phase 2 clinicals with SurVaxM (their cancer vaccine). It is very promising. But the chance of it failing or never coming to market is a serious thought.
If all goes well and makes it to phase 3 clinicals and is economically viable to produce - the chances of a small biotech company doing this on their own is almost impossible economic wise.
Most scientists and team members understand this. The cost of producing a drug from inception to market is, on average, $986 million. That's generally out of the realm for a small biotech/pharma company.
But a buyout doesn't mean the team dissolves or can't be part of the company! Kite pharma was bought out but it is a subsidiary of Gilead.
"Big Pharma" doesn't buyout losing biotech companies. Never seen that. Historical data doesn't show that.
What might happen is a partnership. But if an idea is "good" or "proven" then most likely they already have a partnership or institution that funds them.