How would involvement from a Venture capitalists or Private equity group look for Paradigm, page-2

It doesn't matter what banner is on the door, VC, PE, HF, it is capital that is needed and massive overhaul of management.
Yes, capital would be awesome (dilutive but awesome) but if it is just another Allianz, the company hasn't progressed, because the management is still the same, doing the same old nonsense.
A healthcare dedicated anything (VE, PE etc) would be a powerful sign, as they carry contacts and know-how to steer a ship like this, but if it is just another regular old 51Cap or standard Fund Manager, nothing changes (outside of massive dilution to secure funding $'s).

Royalties - I have outlined this previously, there is no-one who will stump up $50m now, for a cut of future royalties and that "cut" of future royalties is simply your dilution of profits, distributable to you the shareholder (dilution with a mask...)

If the company hasn't been able to attract a dedicated healthcare fund by now, I see nothing in recent announcements that would get them off of the fence.

I laid out the basic due diligence in an earlier thread, but please ask yourself if you would loan money to this company, when they cannot articulate how much money they need.