mystral: They could except for the fact that don't actually have enough money to pay someone else to do the work for them. And I doubt anyone is stupid enough to lend money to a game company that hasn't actually made a game in the last ten years.
Telnet: They could always go down the current trend of funding it through Kickstarter. Looking at what they have in development, it's possible they could create something, but it's something to definitely watch with interest.
They tried the crowdfunding thing on their own site via reviving the Black Isle brand, which they didn't have much success with IIRC. I suppose they might try the kickstarter way too.
The thing is, Interplay as a brand is completely ruined, they don't have any credibility as game makers since they haven't actually made a game in a very long time (and everyone who made their last games is long gone), and judging from their efforts on their own site they don't even know how to make a KS project attractive except by trying to milk a brand which is completely unknown to newer gamers, and which most older ones know enough about to realize it's been long dead.
So why would anyone actually give them money? I can't think of a single reason.
As for what they "have in development"? AFAIK, nothing. Keep in mind that Interplay spent the last decade saying they were developing something (like Fallout Online), and never actually making anything.