It is highly unlikely that funding through a partnership at this stage will take place. A partner would want to get in on the cheap if it advanced funding to NWBO. Why would NWBO do any better by going into partnership with big P in raising funds as opposed to doing a toxic equity offering? Funding from a bad partnership deal is likely not gonna happen. Just like a cheap BO ain't gonna happen.
If NWBO is gonna get better financing than bleeding toxic funding by a thousand cuts, it will do a loan deal. If Sawston is not yet fully collateralized, then there will be a refi. Values have increased dramatically on the property, so a good bet is a refi. LP has to avoid toxic financing now more than ever owing to the botched pub/ASCO presentation that was supposed to raise the pps. She is under a lot of pressure and has very limited financing options. Sawston is most likely. JMHO.