Ann: Day 180 Survival Outcomes In aGvHD Phase 3 Trial, page-46

You might be correct, depends on what is meant by late-stage clinical (P3 primary clinical endpoint?), but there is also mention of regulatory approval too .

This post from July also has a link to MESOBLAST ACQUIRES OSIRIS’ CULTURE EXPANDED STEM CELL THERAPEUTIC BUSINESS

Transaction Terms
Mesoblast will pay Osiris US$20 million upon closing of the transaction, with US$15 million in Mesoblast stock payable upon transfer of the assigned assets. Osiris will receive an additional US$15 million of cash in 6 months and may receive up to US$50 million in milestones that are contingent on the successful achievement of future late-stage clinical or regulatory targets (e.g., United States or European product regulatory approvals). All contingent milestones are payable in cash or Mesoblast stock, at Mesoblast’s discretion. Osiris may also receive earnout on sales of acquired products, ranging from low single-digit to a 10% cap on annual sales in excess of US$750 million.

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Up to 10% royalty on sales over $750 million doesn't leave an awful lot of room for profit if you were to partner the product, compared to the 90% SI estimates after direct marketing/supply costs.