They consider something developing…
They consider something having developed…
Here, let us analyze the objective part of it.
“Something developing” ->
Something being developed
Something having developed… ->
Something having been developed….
Now this could be used in the passive voice.
Something developing is of great interest to the researchers (AV)
Something being developed, was of great interest to researchers (PV)
Something having developed is of great interest to the researchers (AV)
Something having been developed, is of great interest to the researchers (PV)
In the absolute construction, it may be modified like,
Something being developed, teachers left it to the students.
Something having been developed, teachers left it to the students.