Ann: MSB Wins Fierce Biotech Innovation Award for Remestemcel-L, page-212

The partnering is more likely to be associated with 2 weaknesses in MSB:
1) Sales force reach and established relationships - partner with companies that is already a leader in heart and back pain treatments as they already reach into the main treating hospitals for these disorders. This is hard to build up quickly, so partnering is the fast route.
2) Capital - guaranteed upfront payments to pay for the manufacturing of larger volumes needed to address this market, MSB would need a significant capital raising if they intend to chase large volume opportunities. Instead just partner and receive upfront payments which would allow MSB to invest in their own bioreactors and some of the process upgrade SI mentioned in the recent TCN video.

I doubt the company will want to partner at the manufacturing side of this because they currently have an advantage and probably some trade secrets associated with efficacy and yield that would be lost in a manufacturing partnership. From my reading of their relationship with Lonza, they use their bioreactors rather than get Lonza to produce the product - at least that's the impression I get from what I've read.

[The above are my personal opinions and should not be construed as financial advice]