Ann: Factor Therapeutics Appoints Transaction Advisor, page-26

The global networks and transactional capability of the board has always suggested to me that they have the ability and interest in bringing prospective partners to the table far faster than a hired gun.  

Additionally, and reading through the lines, I think the board has good insight to the data and they know blind freddy could be their advisor and still get a partnership deal done.  TC are local, controllable and probably cheaper or more likely to offer unbundled advisory services - why pay for work they will never do?