I agree it would de-risk AVR almost completely however I also...

I agree it would de-risk AVR almost completely however I also see a partnership like that eliminating any future potential bidding war.

total speculation from here:
Say J&J approach AVR tomorrow and say we'll give you $230mil USD ($341mil AUD, AVR's current market cap) and J&J gets the rights to future sales in the US, AVR get a 20% royalty on all sales and J&J offers their facilities to ramp up production and sales team.

Is this a good deal?

Would another player try to then acquire the entire company or is it just too messy trying to buy out a partner and AVR?