A bit of perspective, page-3

@timkiely :
A business partnership is strictly a business decision, one entirely related to money. I am sure you agree with that. It could be to get one-up on a competitor or to get into a space the partner does not currently have competency in, etc. But no matter what the reason may be, it is one borne out of a need to increase profits. That's it.
Now, as to why there has not been a partner yet:
There comes an inflection point where the current pharma drugs cannot be bringing in enough profits for these pharma companies due to increasing:
a) generics
b) biosimilars
c) competitors' drugs lowering the prices
I believe that point is almost now "knocking on the door".
The other reason, which is in addition to the first reason, is one of a paradigm shift. Stem cell therapy is a game changer (the earth is not flat kind). So naturally there is some skepticism. That will go away with the first phase 3 success. IMO, that would surely be with the Interim Analysis to assess the CHF trial’s primary endpoint, slated for early next year.
But....
Some major pharma may decide to not wait that long at the risk of losing out to a competitor. So, it could be any day now.
Also, I believe SI is a tough cookie and may not be agreeing to cheap terms, hence the delay.